29 Burst results for "Justin Ho"
"justin ho" Discussed on Marketplace with Kai Ryssdal
"In Baltimore, I'm Amy Scott in for kairi's doll. It's Tuesday, September 13th, good to have you with us. Well, it wasn't quite the inflation report folks had been hoping for, the consumer price index, the Labor Department said today, rose 8.3% year over year in August. And while that was a bit improved from the 8.5% increase in July, it's still a really big number and all but guarantees the fed will make another big move. When the guardians of interest rates meet next week. And that, as you can imagine, went over like a lead balloon on Wall Street today, more on that later in the show, gas prices were the big exception in the report down more than ten and a half percent from July to August. As marketplace is Justin Ho reports just about everything else is still getting more expensive. Take the price of medical care, for example, up 7 10%. Christine eibner is a senior economist with the Rand corporation. She says hospitals and doctors offices are facing the same pressures other industries are facing. The rising costs of labor and supplies. Whether it's cleaning solution or paper for the copiers, you know, things like that and that all tends to increase prices. I've never said demand for healthcare services has increased this year, as the worst of the pandemic has subsided. You know, people were maybe afraid of going to the doctor or have them elected procedure done. And so they may have stayed home, but now in 2022, with the return to normalcy people are using more medical care. The cost of new vehicles rose 8 10% in August. Sarah house, senior economist at Wells Fargo, says the supply of vehicles hasn't kept up with demand for two and a half years, as a result. There's probably a little over 7 million missing sales that we've had. And so whatever inventory dealers can get their hands on, they still have a good degree of pricing power for those vehicles. Household furnishings got more expensive in August, too, even while a lot of retailers tried to get rid of excess inventory. Taken as a whole, this suggests that inflation continues to have quite a bit of momentum and it's going to make the fed's job pretty hard in bringing inflation down back to 2% goal on a sustained basis. Rent rose by 7 tenths percent in August. But Mark Fleming, chief economist at first American says that number reflects conditions 9 months or a year ago. Private sector indicators have found that rents have been moderating one reason Fleming says, the supply of apartments is improving. We've built a bunch over the last couple of years that have been sort of stuck in the supply chain morass and been unable to get delivered. So there's a lot of delivery of multi-family units coming online now. And that could mean that rent inflation may have already peaked. I'm Justin Ho, from marketplace. On Wall Street today, like I said, lead balloon. We'll have the details
"justin ho" Discussed on WNYC 93.9 FM
"In for David Bronco. A number of big companies, including Walmart, Lowe's, McDonald's have been issuing billions of dollars worth of bonds in recent days. This is a way of raising money, basically like taking a loan from investors The Walmart's McDonald's of the world can use that money for new investments for refinancing existing debt for buying other companies, but the interest rates that they have to pay on those bonds are rising. So why are companies borrowing so much? Now, marketplaces Justin Ho has more. September is usually a busy month for corporate borrowing. This is Winnie Caesar, global head of strategy at credit sites. Everyone's back in their seats after their summer vacations, companies are trying to figure out their end of year and beginning of next year borrowing needs. And over the last year, Caesar says corporate borrowing costs have nearly doubled as interest rates have risen. So many companies see this September as a last push before rates rise even more. I think that there are some companies just worried about what's the outlook for next year. Are we going to see borrowing costs double again? Or is the economy going to turn south? Matteo arena is a finance professor at marquette university. He says many companies already have plenty of cash on hand right now, since profits have been up, but if a recession happens, some companies will start posting losses by even companies. They are now very profitable. My CA declining profit. So borrowing now can give companies a buffer in case they end up needing it. I'm Justin Howe from marketplace. All right, let's do the numbers
"justin ho" Discussed on WGN Radio
"If the movie is deep impact or Armageddon seem imminent we have various options with enough warning time we may be able to use lasers or even reflected sunlight to nudge the offending asteroid out of the way but if we don't get enough warning time then we may have to go with the Big Bang option used in those movies Now this is definitely not the ideal scenario As it creates a shotgun blast effect turning the asteroid into giant buckshot But further research indicates that a well placed explosion with just two months advance warning should keep over 99% of the mass of this killer asteroid from hitting the earth In fact NASA has just launched a mission to smash an asteroid just to see how well we do NASA has discovered a huge impending head on collision or actually a collision between things going around each other in an ever shrinking circle I refer to a couple of supermassive black holes but don't worry about getting hit by debris for one thing their 9 billion light years away And for another they're not going to collide for about 10,000 years Still our advice is start planning now The Hubble telescope is being supplanted by newer bigger instruments like the web telescope but Hubble still has a few surprises left in her Hubble has now found the oldest furthest star ever from 12.9 billion light years away It began existence right after the Big Bang Well about 900 million years after the Big Bang close enough And astronomers are refiguring the age of our Milky Way galaxy and they calculate it's actually about 2 billion years older than previously thought Now that's lying about your age And those astronomers also referred to the Milky Way galaxy as having a thick disc Well that's not the most diplomatic way to refer to a senior citizen galaxy Maybe it's time for the galaxy to lay off the milky ways and go on a diet The offbeat I'm Jim bohannon This is the marketplace minute I'm Justin Ho Stocks closed up on Thursday The Dow gained a quarter of a percent the S&P rose four tens percent and the NASDAQ ticked up just slightly The number of people signing up for unemployment.
"justin ho" Discussed on Marketplace Minute
"This is the marketplace <Speech_Music_Male> minute. I'm <Speech_Male> Justin Ho. <Speech_Male> The stock market rose <Speech_Male> on Friday. <Speech_Male> The Dow gained 8 <Speech_Male> 10%, the <Speech_Male> S&P added nearly <Speech_Male> one in two tens <Speech_Male> percent, and the <Speech_Male> NASDAQ jumped over <Speech_Male> 2%. <Speech_Male> Sales of existing <Speech_Male> homes dropped <Speech_Male> in February by <Speech_Male> over 7%, <Speech_Male> according to the national <Speech_Male> association of realtors. <Speech_Male> The median <Speech_Male> price of an existing <Speech_Male> home rose to <Speech_Male> about $357,000. <Speech_Male> <Speech_Male> <Speech_Male> The big <Speech_Male> three credit reporting <Speech_Male> agencies say they're <Speech_Male> planning to remove certain <Speech_Male> types of medical debt <Speech_Male> from people's credit <Speech_Male> histories. This <Speech_Male> includes debts that were <Speech_Male> paid off after <Speech_Male> they were sent to collection agencies, <Speech_Male> <Speech_Male> and debts that are less than <Speech_Male> a year old. The <Speech_Male> company's estimate, <Speech_Male> this will remove 70% <Speech_Male> of medical <Speech_Male> collection debt from people's <Silence> credit reports. <Speech_Male> And <Speech_Male> Toyota is temporarily <Speech_Male> halting <Speech_Male> production in Japan <Speech_Male> <Advertisement> after a major <Speech_Male> <Advertisement> earthquake this week <Speech_Male> <Advertisement> that killed four people <Speech_Music_Male> and injured over <Speech_Music_Male> <Advertisement> 90. Subaru <Speech_Music_Male> <Advertisement> is also suspending <Speech_Music_Male> <Advertisement> production. <Speech_Music_Male> <Advertisement> I'm Justin <Speech_Music_Male> <Advertisement> Ho, with <SpeakerChange> the marketplace <Music> <Advertisement> minute. <Music> <Music> <Music> <Advertisement> <Music> <Advertisement> <Music> <Advertisement> <SpeakerChange> <Silence> <Advertisement> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> They're <Speech_Music_Male> <Advertisement> about a million podcasts <Speech_Music_Male> <Advertisement> about money, <Speech_Music_Male> <Advertisement> but bad with money <Speech_Music_Male> <Advertisement> with Gaby Dunn <Speech_Music_Male> <Advertisement> is the one <SpeakerChange> we're finances <Speech_Music_Female> <Advertisement> meet social <Speech_Music_Female> <Advertisement> justice. I <Speech_Music_Female> <Advertisement> am Kaley clemm. <Speech_Music_Female> Radical generosity <Speech_Music_Female> is the <Speech_Music_Female> mindset that you bring <Speech_Music_Female> <Advertisement> to your relationship. And <Speech_Music_Female> <Advertisement> there are three <Speech_Music_Female> <Advertisement> pieces that make it tangible. <Speech_Music_Female> <Advertisement> Contribution, <Speech_Music_Female> <Advertisement> these are the little <Speech_Music_Female> <Advertisement> things that you do every <Speech_Music_Female> <Advertisement> day in your relationship. It's <Speech_Music_Female> <Advertisement> also about appreciation, <Speech_Music_Female> <Advertisement> and then the last <Speech_Music_Female> <Advertisement> piece is about revealing. <Speech_Music_Female> Can you let them know what's <Speech_Music_Female> going on inside of you? <Speech_Music_Female> And then I <SpeakerChange> imagine we'll talk <Speech_Music_Female> about structure because that's more <Speech_Music_Male> money fits in. Bad with money. Listen, wherever you get your podcasts.
"justin ho" Discussed on WABE 90.1 FM
"92% of imported avocados came from Mexico I'm Justin Ho with the marketplace minute From NPR news this is all things considered I'm Alyssa nad warney And I'm Ari Shapiro Many musicians became all the more famous after they died young And that's true of cellino Sanchez but there's much more to his story As a new podcast explores At age 31 the south made music mogul rumored cartel hitman a clean singer songwriter and beloved father of two is dead And the mystery surrounding his ghastly murder is about to turn this poor immigrant from a tiny Mexican Pueblo into the most famous Mexican American singing outlaw that ever lived That's Eric galindo one of the hosts of the podcast edolo the ballad of chileno Sanchez This singer songwriter was basically responsible for popularizing an entire musical subgenre the narco corrido Sanchez spontaneous of folk heroes who were sometimes drug lords The cellino did not have a trained voice He really does kind of sound like somebody singing in the shower but in that way he's so passionate and real and he inspires others to think they can sing A lot of people don't like his voice but eventually it grows on you you know We describe it like maybe the first time you smoked marijuana But you're like this This hearts This is harsh But then you calm down and then you just kind of absorb it and then you're like oh this is a good feeling No matter whatever There's one moment in the first episode of this podcast where you give a sense of this guy's importance.
"justin ho" Discussed on Marketplace with Kai Ryssdal
"Food is on the agenda at The White House this week. The Biden administration says it's giving a $1 billion to small meat processing companies. Grants to help finance new meat processing plants and easier financing terms for companies that need to borrow money to do what they do. The idea is marketplace Justin Ho reports is to give those smaller processors a leg up against the four big meat packing companies that handle the lion's share of meat production in this economy. Over the past year, the cost of beef has gone up almost 20%, but the income of the people who actually raise the animals, not so much. The small farmer and rancher today is just getting weeded out. That's Kerry bexley. He owns snow's barbecue and Lexington, Texas, and runs a small cattle ranch. He says the price he gets per head has not kept up with the prices he's paying for brisket. I mean, I'm paying probably my near double of what I was paying a year and a half ago. And I'm not getting double on the hoof when I sell them at the market. Part of the issue is that ranchers don't have a lot of meat packers that can sell to. That's been true for decades, says Dan Sumner, an agricultural economist at UC Davis. Concentration has been around in the meatpacking industry for a very long time. At least the generation or two. And it really hasn't changed very much. Demand for beef has gone up during the pandemic. And so of revenues at some of the big meat processors. Sumner says it's worth keeping in mind that these companies operate at large scale. A plant that process 5000 animals a day is substantially more efficient than one that processes 500. The Biden administration says, the aid package is meant to increase competition by expanding processing capacity. But even with the additional aid, it'll be a challenge for smaller producers to compete in the long term. Says Glenn tanzer, who teaches agricultural economics at Kansas state university. And one needs to think not in days and weeks and frankly, even individual years the decades because these are very expensive facilities that have multiple decades of life to them when they're built. And tonsor says the meat packing industry is continuing to deal with.
New Housing Construction Down 9%
"We've been talking for a while now about housing and it's boom low. Interest rates pandemic motivated moves limited supply and rising prices. And yet. today we learn new. Construction housing starts is the technical term. Were off more than nine percent last month. As marketplace's justin ho reports to get us going. There are a couple reasons why builders have been holding back securing the parts that go into building a home has been tricky recently. Thanks largely to the volatile price of lumber. I call hysterical market at this point brian. Leonard is a lumber analyst at rcm alternatives he says prices have been rising throughout the pandemic causing many builders to hold off on buying would but last month many realize they couldn't wait any longer lumber prices spiked even more and now supplies are thin. The vogel abilities in his basically. You know april through august in all of these guys. Don't have the word to start supplying some of these jobs. Something else in short supply. Labor says brian's her male with the associated general contractors of america. He says some construction workers worry about getting cove on the job site. They also might be receiving expanded. Unemployment insurance they met found work and other industries are members competing with energy sector. They're going to be competing with the mining sector. Several other ingredients that go into building. A new home have been stuck in the supply chain given the ongoing congestion at u s
Fed’s Corporate Bond Buying Foresaw a Year of Covid Pain
"A year ago. The twenty third of march twenty twenty early. On as you're know in the days of this pandemic when maybe not all of us understood how much trouble we were gonna be in public health wise mental health wise certainly and economic health wise as well and we begin today of last year because we marked two milestones on this tuesday first of all the stock market low of the pandemic. It's been basically straight up since then. I know not the economy. Thank you we offer that. Just as a marker also a year ago today the federal reserve said it was going to step in and start buying up corporate bonds. That was and is a big deal. The fed getting into corporate dead didn't because the market for that debt just frozen and the fed was helping those companies borrow at lower rates which can be conducive to business and borrow they did. Corporate debt had records in twenty twenty but with rising interest news of late. As we've been telling you corporate debts been getting a little bit more expensive. Marketplace's justin ho gets us gone. Investors think about corporate bonds. Kind of like how they think about government bonds. If you're going to lock up my money for years you better pay me enough interest to make it worth my while. They want to be earning a rate of return that is higher than expected inflation. That's winnie caesar. at wellsfargo. She says many investors expect inflation to pick up this year. People are likely to spend more and that spending good drive up prices not just for regular consumers but for companies to it could be that accompanies cost of labor is increasing. It could be that. A company's cost of just raw materials and commodities is increasing. Those expectations are causing. Corporate bond yields to rise. But they're also signs of an improving economy says kathy jones chief fixed income strategist at charles schwab. Which underwrites this program. Jones says corporate borrowing costs are historically low and even though they're currently rising that shouldn't be an impediment to them investing and continuing to grow the business. The concern says stephen davidov salomon uc. Berkeley is if rates continue to grow into next year or the following if rates get too high. He says companies won't be able to borrow as much to a fun. Projects investment will slow because investment becomes more costly fed chair. J. paul said today although he expects prices to creep up this year he doesn't think that will have a big or lasting impact on overall inflation.
"justin ho" Discussed on KCRW
"Trading in silver that way, the way you wouldn't stock without having to actually buy. Physical silver bars so that can move up prices in the short term. But in the long term, analysts are still skeptical because there was just a lot of silver out there, David it's a huge market and plenty of sellers and buyers. Silver's up nearly 11%, a 29 80 announced Now one trading platform used by the Reddit Blogged brigade is Robin Hood. It's been having trouble handing handling the volatility this morning. It has trading restrictions on eight companies down from 50 yesterday. Stock index futures are up down future up 208 point 7/10 percent NASDAQ futures up 1.1%. With all those boxes on doorsteps. These days, we'll find out tomorrow. How ups did in its most recent quarter. Marketplaces. Justin Ho has that shipping companies have expanded capacity to handle the surgeon deliveries during the pandemic supply. Chain management professor Dale Rogers at Arizona State University says shippers have also had the upgrade safety. All of those costs are hitting the bottom line of a lot of these carriers. Roger says. Shippers are also servicing sectors of the economy that aren't doing so well. For instance, Roger says, there's a shortage of semiconductor chips right now, which means that there are less of them to ship the computer and auto manufacturers. All that kind of stuff. Directly effects logistics companies like UPS. Last week, the company announced it'll sell off its freight business, which focuses on trucking cargo around the country. Detail mayor at the Brookings Institution says that's a bet on the profitability of home deliveries. First and last mile deliveries or pickups is absolutely the high growth area here. UPS says the sale will help the company be better, not bigger. I'm Justin. How for marketplace.
Millions to receive relief payment via debit card
"I have needs. It has to be its consumption. And that's the thing want debit cards can also be cheaper than checks for people who don't have bank accounts cashing a cheque cost them money. But with a card says shantelle boyens with the urban institute there is a network of. Atm's where you have the car you can access your funds without any feeds but people can only make one withdrawal for free from an out of network atm after that. It costs two dollars boy in says the income people are more likely to pay those fees. They may be located in areas where they don't have as good of access to in network. Atm's the cards also come with terms of service. An ira rheingold. Executive director of the national association of consumer advocates says some of them put card users at a disadvantage. You consumer if you have a complaint you cannot go to court. You cannot be part of a collective action. A class action members of congress sent a letter to the treasury this week asking it to remove those clauses and reduce any fees. I'm justin ho for marketplace lawmakers tucked a provision banning surprise medical bills into this latest relief. Package those are the unexpected charges from out of network healthcare providers that can add up to tens of thousands of dollars. One thing. that's not yet. Clear is how this might affect insurance premiums marketplace's nancy marshall genzer explains. It's a nasty shock without realizing it. You retreated by a healthcare provider. Who was out of network surprise. You're stuck with a huge bill. Jen taylor with the consumer advocacy group families. Usa says some of the biggest unexpected medical bills. Come from air ambulances where people were getting a fifty thousand dollar bill and they were unconscious and put into an ambulance and had no say in the matter. Once this surprise medical bill legislation goes into effect in
How those $600 checks are likely to be spent
"Three months. Most of the money stayed in the bank people spent about a third of their tax. Hilas says there are two reasons. A lot of people didn't spend all the money right away. I those who still have their jobs and income didn't need the money to pay their bills and with pandemic shutdowns. It was hard to shop and travel the money away. Meanwhile americans who had lost jobs and income tried to stash away. Whatever stimulus money they could people had expectations. That crisis would be very long in. Their income. Might be disrupted for a long period of time. This time around you know us thinks that even with vaccination underway. There's still so much economic uncertainty that most people will try to save some of the money again but that may be harder with this second round of stimulus checks nine months into the pandemic. Millions of americans are still out of work and unemployment benefits dwindling. John lear is an economist at morning. Consult lower middle income. Americans who really have very little savings have gradually had to eat into their savings because they don't have the income to cover their expenses each month. They're likely to spend their stimulus right away on. Necessities food rent utility bills and car payments. I'm mitchell hartman for marketplace. The relief package also includes several types of aid for small businesses including a new paycheck protection program. And it's different from the last round. In a few ways. For example this time business owners can claim tax deductions for payroll and other expenses. Their p p p money covered small business advocates welcomed the change but as marketplace's justin ho reports owners. Still face a lot of uncertainty when it comes to their tax bills before the new relief package was signed into law new york city cocktail bar owner ushwyn day schmo just wasn't sure when he should apply for forgiveness on his. Ppp loan and how that would impact his bill even wait to do the forgiveness application until next year. It's just a waiting game. The new round of
"justin ho" Discussed on KCRW
"The sticking points include money for transit system, schools and vaccine distribution. And what did Mr Powell say about the sort of stimulus Only Congress can do. Once again, Powell said. Congress really has the best tools to deal with this crisis, he said. There's a lag time with the feds tools. And he said there are millions of Americans who need aid from Congress, not loans from the Fed. It's the 10 million people who lost their jobs. It's people who may lose their homes. You know, you see the many, many millions of Americans are waiting in food lines in their cars these days all over the country. Okay and Nance ever going to see a vote on pandemic relief? Well, negotiators want to attach it to a spending bill and that has to pass by tomorrow, so the government doesn't run out of money and shut down. Congress could pass a continuing resolution that would keep the government going temporarily while they finish haggling over the co bit relief bill. Thank you. Call it a serendipitous opportunity. Others might see a holiday miracle on the player of Monopoly would see bank error in your favor. Pharmacists are noticing when they open the pack of Fizer beyond Tech covert vaccine That's supposed to be five doses per vial. I can sometimes squeeze out a six there, maybe seventh dose. The FDA looked at this yesterday and is saying Go for it as long as These are full doses. This could mean millions more will get their shots earlier at a time on the first vaccine is in short supply. Markets, The Dow is up 129 points, half a percent similar percentage rises now for the S and P and the NASDAQ The popular online stock trading site, Robin Hood today agreed to pay a $65 million penalty after the SEC accused of misleading customers by not disclosing it makes a lot of money by charging trading firms. Route orders their way and not always getting customers the best price Robert and neither admits nor denies anything. FedEx releases its fall results today. Marketplaces Justin Ho has that Delivery companies have had to expand to handle the boom in e commerce. During the pandemic. FedEx has been upgrading its existing.
"justin ho" Discussed on KQED Radio
"There are shutdowns or curfews or limits of one kind or another on what businesses were being allowed to do as we look at rising case counts. From here through the end of the year, maybe longer. Who knows? First time businesses went through this back in March and April. They had federal relief to fall back on. Not as we've been reporting this time, so his marketplaces Justin Ho reports, some restaurants are trying to plan how to cope. It's been eight months since Nico Frasier first shut down indoor dining at his taproom. He's the co founder of 21st Amendment, worry in the Bay Area, and ever since he and his staff have been working to make the indoor space safer. We spent AH lot of time and money building petitions getting air circulation. Getting the right cleaning protocols in place and training. A couple of weeks ago, the tap room finally reopened for indoor dining, but covert cases in the Bay Area have been rising. And last week, the county shut down in nor dining, So we have exactly one week of indoor dining and we were full every night. Francis's. The tap room still has outdoor dining, and the company sells a lot of beer, The grocery stores But he says other restaurants won't be as lucky as restrictions Ramp up. It just seems clear, especially with the rollbacks that are happening all over the country due to the increasing covert cases that there needs to be an additional aid program, like another round of the paycheck protection program that kept a lot of businesses afloat earlier in the pandemic. Without something like that. The outlook is bleak for some restaurants. Bobby Jones is the chef and co owner of the point a Crab house on the Chesapeake Bay in Maryland last Friday, his county cut indoor dining capacity and half the 25% and so Great Now we're basically shedding cashed. Because we don't want to lay off all our employees. But he says he and his wife, Julie, is co owner had no choice but to let some workers go. Yeah, I think How many really off today? Joe 30. After two other places. Yes, 30 people today, Julie Jones says It's harder to lay people off now than it was earlier in the year when workers could fall back on a $600 a week. Federal top up the state unemployment benefits. You know, I'm worried now because that $600 isn't there. And it's not an easy decision to make of who do you keep and see after layoffs, thirst and then what order they go without any new relief aid in the pipeline. Some restaurant owners are revamping their business models in an effort to survive. Kevin Takarada runs Maki Maki, a sushi restaurant in midtown Manhattan. Two weeks ago, he added shabu shabu to his menu That's a type of Japanese hot pon that also helps keep customers warm inside the restaurant's outdoor tents. People are not gonna you know, sit in 30 40 degree weather outside just because it's covered in plastic and a sushi roll. I just don't think that market exists. Takarada says the Midtown office workers his restaurant normally serves have started to return. But he's worried about what might happen now that New York City schools are closed again. Parents can't leave to go to work anymore. They have to go back to remote working. Takarada says. He's hoping for another round of paycheck protection program money, But he knows he can't depend on it. I'm Justin Ho for marketplace. Five words, Everybody for your listening pleasure. David Brancaccio MARKETPLACE Morning report. Check it out..
As pandemic stretches on, retail bankruptcies approach highest number in a decade
"Our lead story today is a tale of a balancing act of retailers in this economy trying to overcome simply terrible I three quarters of the year. By finishing strong, you'll hear elsewhere in the program today of indicators were watching to educate our guesses about where things are going but a report from the accounting consulting firm. Bdo chose twenty-nine big retailers filed for bankruptcy protection in this economy through August and that if things continue at that pace, we will match two thousand, ten the dark days after the great recession. So for all the retailers still getting by the last three months of the coming year, that is this year are going to be even more critical than usual as they go looking for some hope in the holidays marketplace's Justin Ho starts us off. The report found that bankrupt retailers have closed almost six thousand stores. This year retailers that have seen the most bankruptcies sell apparel shoes products. We just haven't been buying much during the pandemic stores in malls have been especially hard hit. You've got eight or nine hundred stores spread across malls. In the United States, you probably need about half the stores Brian Yarbrough is an analyst with Edward Jones. He says the big box retailers are spending more to attract consumers who just aren't going to the mall and WanNa shop online you're seeing the walmarts and the targets of the. World Invest. Billions of dollars a year in technology these small companies can't keep up but many retailers rely on their physical locations and are struggling to stay competitive and attract shoppers during a critical holiday season David. Berliner at BDO says, that could include services like contact list checkout or in store pickup for online orders whenever they can do to make consumers feel safe going into these brick and mortar stores Berliner says what retailers need to figure out is what makes sense for physical store to be profitable to make sure that Rick and mortar stores are in the right place? The right size for you know I think stores could be smaller than. Alvin. Designed years ago Berliner says the pandemic has just accelerated a trend of store closures throughout the US that's because he says the country has been over stored for
"justin ho" Discussed on 90.3 KAZU
"Supposed to help them stay open during the pandemic, but were distributed unevenly at best. The Justice Department recently filed nearly 60 charges involving attempts to build over $175 million out of the program. Meanwhile, legitimate borrowers are working to get their loans forgiven. Marketplaces Justin Ho has more Justice Department lawyers say the defendant spent PPP money on home renovations, trips to Vegas, even a Lamborghini. Randy George is the co owner of red him Baking company in Cafe in Vermont, he says it's discouraging to hear stories like that. But it isn't surprising. I think that the way that it was carried out aloud for a lot of abuse. The program rolled out quickly, George says that help businesses like Hiss. He took out a PPP loan back in April because he needed the money fast. It was like we take this money or we face potential closure. I don't know what we would have done. When designing relief programs, governments faced difficult choices, says Katherine Judge, a professor at Columbia Law School. If a program has a rigorous application process, business might make one mistake and not qualify for eight Judge says the government decided to make PPP relatively easy and as a result, we might have a little bit of fraud. But the more important aim is to get a lot of money into the hands of a lot of small businesses in a very short window of time. And they really succeeded in that regard. Now the government's dilemma is whether to make it easy to get a p P p loan forgiven. One idea automatically forgiving loans under a certain amount, say $150,000. Robert James, the Second Carver State Bank and Georgia says that would help the bank avoid having to collect on risky loans if the government making onerous and difficulty for customers to get loans forgiven. We're going to really have a very unstable, potentially harmful assets on our books, James says. Right now, the forgiveness processes rigorous borrowers have to come up with documents proving they spent the money on payroll, rent and other approved expenses. But James says he knows his customers were very confident Our customers did what they said they were going to do with the money and so we just don't wanna have to burden them. James says He's advises customers to hold off on applying for forgiveness until Congress weighs in. I'm Justin Ho for Marketplace. Thiss final note on the way out. I mentioned earlier that the Federal Reserve is asking for more relief from Congress to help the economy and the struggling people and small businesses that make up the economy. Also today, the Business Roundtable, the group of influential CEOs of major companies, released a survey that reiterated that more federal aid and getting the virus under control are necessary to prevent long term economic damage. Any old time now, folks. Marketplaces supported by Charles Schwab. In.
"justin ho" Discussed on WNYC 93.9 FM
"Payroll numbers in the months ahead. I'm Justin Ho for market. If you know your local chamber of commerce. It's probably as a group that sponsors the town Christmas tree lighting or foots the bill for the kid's softball and baseball jerseys. Right? And there is, of course, plenty of that. But the real work of the thousands of nonprofit chambers is to promote lobby on behalf of local businesses. That lobbying takes different forms, depending on the state of the economy and right now. This economy is in a state of Who knows marketplace of pristine drub caught up with a few chambers CEOs to see what's what with them. Nogales is a little Arizona border town and a big port of entry for Mexican produce and goods on ly. About 20,000 people live there, and plenty of them know Olivia Kramer. My daughter doesn't like to go with you no longer because I just always run into people. But it's part of it part of the job, and that's what I do. That's why I do what I love. Interacting with people I love talking to people. The job is president of the Nogales Santa Cruz County Chamber of Commerce. Ianto Kramer used to spend her days running around town dropping in on restaurants and hair salons. And finding ways to bring business owners together Cove. It changed all that. We didn't realize how much we thrive on in person meetings on going in for a hug. You know Latinos, we hug and kiss when we see each other and now not to be able to do that. It's still a description how we operate. That's not the on ly thing that's flipped the script with the border closed. Small businesses can't rely on Mexicans coming into town to shop and go to restaurants, so they have to do more to attract local residents. Who I answer, Kramer says, tend to favor big retail chains. As you know, small town folk, You know, they're so stuck in their day to day routine that stepping out a little bit outside of the lines a little bit uncomfortable and just exploring this their town 1000 miles north in Casper, Wyoming. Businesses were hurting before the pandemic hit and made things worse. This is oil and gas, country and energy prices had already been on the decline. Then people pretty much stopped driving. So far, Wyoming has had a relatively low covert rate compared to the rest of the country. Aaron Morgan is executive director of the Casper area Chamber of Commerce. The joke here is you know, we've been practicing social distance since we became a state. It's kind of like, Oh, yeah, we're gonna spread out. Still, Casper is the state's second largest city with an active business district and a steady stream of tourists passing through on their way to places like Yellowstone. It's why a lot of Morgan's job used to be planning big events like a recent chamber fundraiser that was a crappy and being landlocked in Wyoming. It's pretty interesting today to coordinate all that we had. About 450 people that came in the crab was actually flown in the day before from Alaska. Since Cove it she's gone from coordinating crab to coordinating PPT. The chamber has become a local distribution site for masks and hand sanitizer. With businesses already reeling Restaurant and shop owners want customers to feel as comfortable as possible. Just about everywhere. The work of being a chamber CEO has become as unpredictable as the pandemic itself. When the virus hit. Carl Benson, president of the Minnesota Black Chamber of Commerce, focused on helping black owned businesses get their share of PPP loans. If you don't have a relationship with a bank A TTE that point You're not only not in line at all. You're just not gonna get in life, but since the killing of George Floyd by Minneapolis police and the protests over racism and inequality Vincent's also become somewhat of a diversity advisor. He's been fielding calls from a lot of businesses, including Fortune 500 companies. Minnesota is home to 16 including Target and three M. I won't name names, I guess, but it's more you come in and talk to our employees about how is she looking to hire? What this diversity equity inclusion should look like? It's just been one after another, like I hang up and pick up another one. Vincent believes some of these conversations could pay off for his members down the line. You're not only teaching our businesses and learn and educating our businesses and given them resources and technical assistance, what it's really about, you know everybody else as well. Then there are the chambers themselves, which rely mainly on membership dues to stay afloat. I haven't office I pay rent. I have a staff of eight. You know, we have expensive. Quincy Hansel runs the Portland Regional Chamber of Commerce in Maine. Town's been slammed by the drop off in tourism pencils, cut people's hours and started offering membership discounts. Now is not the time for chambers to go away. So like everyone else, she's just trying to figure.
"justin ho" Discussed on KCRW
"Months ahead. I'm Justin Ho for market. If you know your local chamber of commerce. It's probably as a group that sponsors the town Christmas tree lighting or foots the bill for the kid's softball and baseball jerseys. Right? And there is, of course, plenty of that. But the real work of the thousands of nonprofit chambers is to promote lobby on behalf of local businesses. That lobbying takes different forms, depending on the state of the economy and right now. This economy is in a state of Who knows? Marketplaces, Wriston drub caught up with a few chambers CEOs to see what's what with them. Nogales is a little Arizona border town and a big port of entry for Mexican produce and goods on ly. About 20,000 people live there, and plenty of them know Olivia Kramer and my daughter doesn't like to go with you no longer because I just always run into people, but it's part of it part of the job, and that's what I do. That's why I do what I love. Interacting with people I love talking to people. The job is president of the Nogales Santa Cruz County Chamber of Commerce. Ianto Kramer used to spend her days running around town dropping in on restaurants and hair salons. And finding ways to bring business owners together Cove. It changed all that. We didn't realize how much we strive on in person meetings on going in for a hug. You know, Latinos, we hug and kiss when we see each other and now not to be able to do that. It's still a description how we operate. That's not the on ly thing that's flipped the script with the border closed. Small businesses can't rely on Mexicans coming into town to shop and go to restaurants, so they have to do more to attract local residents. Who I answer, Kramer says, tend to favor big retail chains. As you know, small town folk, You know, they're so stuck in their day to day routine that stepping out a little bit outside of the lines a little bit uncomfortable and just exploring this their town 1000 miles north in Casper, Wyoming. Businesses were hurting before the pandemic hit and made things worse. This is oil and gas, country and energy prices had already been on the decline. Then people pretty much stopped driving. So far, Wyoming has had a relatively low covert rate compared to the rest of the country. Aaron Morgan is executive director of the Casper area Chamber of Commerce. The joke here is you know, we've been practicing social distance since we became a state. It's kind of like, Oh, yeah, we're gonna spread out. Still, Casper is the state's second largest city with an active business district and a steady stream of tourists passing through on their way to places like Yellowstone. It's why a lot of Morgan's job used to be planning big events like a recent chamber fundraiser that was a crabby and being landlocked in Wyoming. It's pretty interesting today to coordinate all that we had. About 450 people that came in the crab was actually flown in the day before from Alaska. Since Cove it she's gone from coordinating crab to coordinating PPT. The chamber has become a local distribution site for masks and hand sanitizer. With businesses already reeling Restaurant and shop owners want customers to feel as comfortable as possible. Just about everywhere. The work of being a chamber CEO has become as unpredictable as the pandemic itself. When the virus hit, Carl Benson, president of the Minnesota Black.
New York City-based Brooks Brothers to see how bankruptcy suits it
"Filed for the legal protections of Chapter 11 of the U. S bankruptcy code this morning. Lockdowns and working from home obviously had not been great for the menswear industry. But Corona virus isn't the only thing Brooks Brothers has been dealing with of late. It's go to offering the business suit has been going out of style for years now. Oregon police Justin Ho has more on the rise and the fall of the men's uniform of the business World. Brooks Brothers opened its first store in lower Manhattan in 18 18 when the U. S was made up of 20 states. Future customer Abraham Lincoln was only nine years old when the suit as we know it today started becoming popular in the late 19th century Brooks brothers cashed in. They were right there at the heart of finance at the heart of politics, Really when America was getting it starts? Susan's graffiti is the founder of the Fashion Law Institute at Fordham Law School, she says Brooks Brothers really popularize suits that were ready to wear off the rack that helped that suits fit more people. That's confetti says it also made the suit and the high status that represented more accessible. Everybody had tohave Brooks Brothers suit if you're going to be and they'll class or upper middle class or even another class business person. Graffiti says. By the middle of the 20th century. The suit also became a symbol of corporate conformity. Think mad men. But in the 19 nineties, casual Fridays had become a thing. Then Silicon Valley. Okay hoodies and sneakers and casual became mainstream. Justin Shack, managing director at Rosenblatt Security's on Wall Street, remembers the suit and tie days. I used to own Brooks Brothers suits back when I'm starting my career, and I can't remember the last time I did. Since 2014 the market for men's suits has shrunk by 11% according to the research from Euromonitor and menswear has changed with the Times can get in Cohen's Rothman's menswear store based in New York, he says his biggest seller these days is there. So we saw a lot of genes. We sell a lot of sport codes with Gidon says the suit isn't dead. But the suits he sells tend to be fashionable suits meant for special events. It's not really classic work where that's not what the young guys looking for a suit. The Koven 19 pandemic has only made things worse for the suit. Industry is people work from home in stars have closed. His Brooks Brothers files for bankruptcy. It says it's seeking a buyer for the grant. I'm
What to Do When Scared Workers Don’t Report to Work Due to COVID-19
"Other three million people. As I'm sure you've heard made first time claims for unemployment in the past week that brings it to thirty six million plus in the past couple of months there's a whole slew of second order effects out of that of course and one of them is that the Labor Department has told cities and states they have an obligation to detect waste and fraud in the unemployment system and there are reports of states that have been pushing companies to disclose when employers refused to return to work then as marketplace's Justin Ho reports. That is putting a whole lot of business is in a pretty tight spot about two weeks ago. The Vermont Labor Department launched a Web page for businesses to report employees. Who declined offers to return to work by doing so? Employers could effectively kick those workers off of unemployment insurance though there are some exemptions mark. Fryer Cohen's restaurant called the reservoir in Waterbury Vermont. He says he isn't happy with the tough choices that may force him to make. It makes it very difficult to think that we would have to turn to the state and tell them that they should pull their aid. Prior laid off all of his employees and mid-march he also took out a paycheck protection program. Loan which can be forgiven if he brings his head count backup during the loans. Eight week window restaurants are allowed to take out but Vermont hasn't allowed them to fully reopened. Friars restaurant is closed. We're not rushing to bring people off on employment will can't reopen our doors because of state order one of friars former employees is sage. Guggenheim had chef at the reservoir. She says she'd love to get back. But given the safety issues of returning to work she understands that others want to stay at home. We don't want to force people into a difficult position where they have to choose between what they want to do and what they have to do. Businesses want to keep good relationships with their employees says Labor Economists Teresa Ghilarducci at the new school. They also have the loyalty and relationship of trust that builds up over time. Several other states have set up similar websites for reporting employees including Montana Oklahoma Tennessee in South Carolina. Frank NAP is the president of the South Carolina Chamber of Commerce. He says many businesses are realizing a hard truth about their P loans. Despicable low may not be forgivable. He says some may decide to give back their PCs loans rather than force their employees to return to work. I'm just in how for marketplace
"justin ho" Discussed on KQED Radio
"Out of the falls on Justin ho for marketplace the strain coronavirus is putting on this economy is seeping through to almost all parts of it you lose your job you can't pay your bills rent or your mortgage or car loan maybe also food food banks and pantries are stepping in but there is so much need the capacity is being strained as market place another several reports some of those food banks are worried about how long they can keep food banks are sort of like Amazon distribution centers for charitable pantries which then give out that food to people in need and right now there's a lot of need out there this spike in the demand for food assistance is unlike anything we've experienced before Michael flood runs the Los Angeles regional food bank he says it expects to distribute two million meals this week demand is up fifty percent at the same time many traditional sources of donated food have dried up restaurants are closed grocery stores are overwhelmed at this rate of food distribution were at somewhere between three to four weeks of inventory that we can continue to rely on let's counterpart in New York has a similar projection in a few weeks Dan Egan's charity feeding New York state projects that will be buying a lot of the food it needs we're doing okay right now I'm we're all worried a few weeks out you know what's going to happen we don't have endless streets origins there is some good news food banks aren't the only source of help Congress just allocated more than fifteen billion dollars to pay for all the expected new applications for snap what used to be called food stamps Janet popping Dick is a senior faculty fellow at the urban food policy institute at the City University of New York the charitable food system occupies a bigger place in the national imagination but the federal food assistance programs provide bland share of assistance pop index says the problem is that snap usually doesn't provide enough money for a whole month of food there's now a push to get Congress to increase the amount of eight another problem is that most snap recipients can't order food online meaning they can't use the eight four deliveries which would help them maintain social distancing I'm nervous awful for marketplace coming up we were already in production for these little chocolate bunnies Easter in the corona virus economy but first let's do the numbers I don't know if it was up to eighty five today one point two percent finished at twenty three thousand seven nineteen is we're the said happy music the nasdaq climbed sixty two points about seven cents percent eighty one fifty three S. B. five hundred advanced thirty nine point one point four percent to twenty seven eighty nine is just to mention some industries are highly leverage means they have a lot of debt right department stores for instance in the retail sector so with that in mind Macy's but up ten point eight percent today J..
"justin ho" Discussed on WNYC 93.9 FM
"Out of the falls I'm Justin ho for marketplace the strain coronavirus is putting on this economy is seeping through to almost all parts of it you lose your job you can't pay your bills rent or your mortgage or car loan maybe also food food banks and pantries are stepping in but there is so much need the capacity is being strained as market place another several reports some of those food banks are worried about how long they can keep food banks are sort of like Amazon distribution centers for charitable pantries which then give out that food to people in need and right now there's a lot of need out there this spike in the demand for food assistance is unlike anything we've experienced before Michael flood runs the Los Angeles regional food bank he says it expects to distribute two million meals this week demand is up fifty percent at the same time many traditional sources of donated food have dried up restaurants are closed grocery stores are overwhelmed at this rate of food distribution were at somewhere between three to four weeks of inventory that we can continue to rely on let's counterpart in New York has a similar projection in a few weeks Dan Egan's charity feeding New York state projects that will be buying a lot of the food it means we're doing okay right now I'm we're all worried a few weeks out you know what's going to happen we don't have endless resources there is some good news food banks aren't the only source of help Congress just allocated more than fifteen billion dollars to pay for all the expected new applications for snap what used to be called food stamps Janet popping Dick is a senior faculty fellow at the urban food policy institute at the City University of New York the charitable food system occupies a bigger place in the national imagination but the federal food assistance programs provide bland share of assistance pop index says the problem is that snap usually doesn't provide enough money for a whole month of food there's now a push to get Congress to increase the amount of eight another problem is that most snap recipients can't order food online meaning they can't use the eight four deliveries which would help them maintain social distancing I'm nervous awful for marketplace coming up we were already in production for these little chocolate bunnies Easter and the coronavirus economy but first let's do the numbers two eighty five today one point two percent finished at twenty three thousand seven nineteen is we're the said happy music the nasdaq climbed sixty two points about seven cents percent eighty one fifty three S. B. five hundred advanced thirty nine point one point four percent to twenty seven eighty nine is just to mention some industries are highly leverage means they have a lot of debt right department stores for instance in the retail sector so with that in mind Macy's but up ten point eight percent today J. C. Penney found more than five percent Nordstrom put on more than twelve percent Disney plus that was more than fifty five zero million subscribers globally that's within five months of its launch not too.
"justin ho" Discussed on KCRW
"The computers that already accomplished much of the trading anyway market place's Justin ho reports the NYSE says it's run plenty attests notice markets are fully capable of operating electronically but NYC president Stacey Cunningham says the market will be missing something a computer doesn't apply judgment quite weighty builders for instance when human traders meet on the floor and agree on a fair closing price Cunningham says those prices tend to be more stable on their own computers can cause prices to fluctuate you want to know that when you bought or sold something the price doesn't rapidly changed is totally new value right afterwards electronic trading isn't new the nasdaq is already a fully electronic exchange adjusting jacket Rosenblatt securities says the NYSE's human traders have stepped in to stabilize markets when there have been software glitches or during a financial crisis in times of stress it's very important to have human beings involved and actively engaged in the trading process and with market volatility reaching levels we haven't seen since two thousand eight sacks says yes this is a time when markets are stressed I'm just in health marketplace with Democrats I should say around the fourth of July when thoughts typically are on baseball or perhaps sitting by the lake many will be doing their taxes this year because of all the dislocations caused by the virus the IRS filing deadline has been moved to July fifteenth market places Marielle Segarra has some important notes here's how this will work you can file your federal taxes anytime between now and July fifteenth so if you're getting a tax refund which more than seventy percent of Americans do you can still file your taxes now and get your money and the treasury secretaries actually encouraging that but if you owe the government money you'll have until mid July to pay it so the thinking here is that this will keep money in people's pockets for a longer if you copy ads this only applies to federal tax returns so whether you still have to file your state and local taxes by April fifteenth depends on where you live also the clinics where you can go to get your taxes done for free are close now because social distancing people who rely on those clinics are often eligible to use free online software to file instead but not everyone is going to do that all right Merrill thank you Republicans and Democrats are still trying to work out a massive new stimulus with so much of the economy on hold or cancelled for now the stock market is down Dow and S. and P. futures reached down two and a half percent that's about four hundred seventy points down on the Dow future the S. and P. is down thirty two percent from its mid February high the benchmark ten year U. S. interest rate down at zero point eight three percent representing money going into bonds there's news that in Europe the airplane manufacturer Airbus is partially re opening factories after a four day shutdown after coronavirus health and safety checks one of the labor union says the move compromises the health of workers and their communities marketplace morning report is supported by TD Ameritrade who believes clients can get smarter with their investing offering help from knowledgeable professionals customizable tools and education personalized to investors goals and.
"justin ho" Discussed on KCRW
"Grounded after two fatal crashes not helping last Friday Boeing messed up the big test of a capsule that will eventually ferry humans into space market place's Justin ho is following this development this morning yeah so just as a reminder the seven thirty seven Max has been grounded since March of this year and since then Bloomberg has been facing a lot of pressure to resign this is really about his in the company's response to the crashes and how and why the Max was certified as safe to fly by the FAA lawmakers also criticized Mullen perks salary which he didn't give up immediately after the crashes Boeing had already stripped him of his chairman title back in October and now in a statement the company said a change in leadership was necessary to restore confidence in the company and people will be watching closely especially given Boeing's wait in the overall US manufacturing sector right this comes just days after Boeing announces gonna suspended seven thirty seven next production this is a move analysts say is so big it'll make a dent in our overall GDP somewhere between half a percent and one percent next year and you know we're not just talking about Boeing's assembly line stalling it's also the tens of thousands of parts that Boeing had been buying from third party suppliers Boeing is the biggest exporter in the U. S. and the seven thirty seven Max had been its most popular jet all right Boeing board chair David Calhoun takes over as CEO now Boeing stock is up two point six percent on this news with the soft global economy in a trade war with multiple fronts orders for long lasting expensive things durables went up just slightly last month excluding airplanes non defense capital goods went up just a tenth of a percent that's a closely watched piece of this the thrust here is that business investment still seems tappet even with consumers out there spending away let's check the markets the Dow is up one hundred ten.
GDP data; business investment stabilizing
"So we are going to spend a couple of minutes at the top half of the program on a slice of that. GDP data something called business investment a key although lacking of late part of what makes this economy go. Marketplace Justin Ho starts US off business investment has been shrinking for the last two quarters but last quarter decline wasn't a steep is expected. Sarah Watt House is an economist at Wells Fargo Securities. We're not seeing it fall off a cliff. Fanny means companies are still spending. But they've certainly illustrated some hesitancy in recent months. Hell says the trade war is making companies less willing to spend on expensive new factories which take years to complete today. John Deere reported at the trade wars made farmers cautious about making major investments in new equipment. Instead how says businesses are spending more on intangible items which aren't as vulnerable bolt economic cycles. So things like software research and development to help companies come up with that next big product or or idea so that's accounting for increasing share of business investment companies did spend more uncertain tangible items overall spending on equipment fell but within that spending on industrial equipment went up so depending on the buildings that House that equipment George Perks Global Macro Strategist for spoke investment group both much firmer than you expect back. Based on manufacturing industry survey that's relatively hopeful fine still businesses spent less on new commercial buildings less on transportation equipment less on new hospitals. It's a trend that reflects a broader shift in the US economy says Alex Casino at Manulife Investment Management Manufacturing has become increasingly less important as a percentage of GDP DP. I'm the services sector which is supported by software house become increasingly important while today's GDP data found that business investment is shrinking. The same report said spending ending on services is growing in New York. I'm Justin how for marketplace.
"justin ho" Discussed on WNYC 93.9 FM
"On today's news out Hong Kong's protests police around the university campus several protesters have been trying to leave and have been met take gas and rubber bullets and lawyers in the U. S. of cold on the clean son prince Andrew to cooperate with legal proceedings in the United States that's BBC news out coming up at nine on ninety three point F. and W. NYC fifty percent chance of some light rain today otherwise cloudy skies with a high near forty four degrees rain is likely later tonight into tomorrow morning and then tomorrow should clear up by the afternoon partly sunny highs near fifty one degrees thirty degrees overcast right now in New York winds are from the north at eight miles per hour it apparently takes oil to beat apple marketplace morning report is supported by progressive insurance small business protection for more than vehicles with insurance expertise to keep your company moving forward more progressive commercial dot com I'm David Brancaccio in New York the top question about the launch of the biggest company ever on the stock market now has an answer the Riyadh based oil company Saudi Aramco has come up with the range for how much it thinks it's worth the answer is not as low as some predicted but not as high as the de facto leader of Saudi Arabia wanted to see once launched on the stock market Saudi Aramco will overtake apple as the world's highest valued public company here's the B. B. C.'s su pene Chang the John has valued itself up to one point seven trillion dollars well that's below the two trillion dollar marks will by Saudis crown prince is still puts the listing in line to become the world's biggest in order to make the cell as successful as possible the Saudi authorities announcing a huge campaign to encourage citizens to invest in Riyadh the chief executive of the Ellen my bank I'm doing Wilson on father's was upbeat about the sale we are very optimistic there will be a lot of participation but being back ordered honest Julian Lisa Saudi Aramco has had to pay back its ambitions they were hoping initially they would attract investment from North America from Europe and from big Asian bios I'm not really hasn't happened because I think the the pricing they were looking for just hasn't been attractive to foreign investors as the company's big sales pitch road show kicks off the real test of investor appetite for the company will begin on the BBC sweeping John for market place no tomorrow Google is launching a new video game system that lives on distant computers the game portal is called stadium players will be able to run some of the most popular new games on their TV's laptops and phones it's a launch that has the whole industry video game industry watching closely market place's Justin ho reports playing a game that's hosted on a Google server would eliminate the need for a consul or a fancy gaming PC Neil mac are full of the video game industry for Morning Star you're basically paying a fee and letting Google sort of manage that part of the back Google is not the only one getting in the cloud gaming Microsoft has been testing this on the Xbox platform Sony's PlayStation also has a streaming service with a million subscribers still that's not a big number when you consider Sony has sold a hundred million of its latest PlayStation consoles there have been necessary town of pent up demand right now for streaming platform even as gamers are clamoring for this type of service yet Daniel Ives at Wedbush securities says Google's using this wants to test whether game streaming could become a lucrative business they're not targeted to the deep end of the poor but they need to see what the man looks like gamers have to shell out a hundred and thirty dollars to get in on state is lunch that includes a controller and one game other games cost extra I'm just in health marketplace let us do the numbers the footsie in London is down one point here the Dow futures little change the S. and P. futures down a tenth of a percent about a half hour before the opening bell here the ten year interest rate down at one point eight two percent.
Insiders are selling stock as recession worries mount
"Things were AH unsettled in a certain part of this economy today. The political part is what I'm talking about with the tide turning toward impeachment and one imagines the already high level of economic uncertainty only increasing in the months to come but there are some in this economy who are completely certain certain that this is a good time to sell L. corporate insiders which is to say board members and C. Suite executives are selling shares of their own companies at the fastest rate since two thousand back in the DOT com bubble well days that's according to some analysis first reported by the Financial Times and we ought to say and you're probably thinking right now well. What are those people selling know that the rest. I don't good question marketplace adjusted. Ho went in search of the answer investors like it when corporate insiders own stock in the companies they run says Karen Kavanagh now at voyage investment management. They WanNa make sure that the company executives have some skin in the game. There are plenty of reasons executives might sell some of their stock. It could be to buy a car to to be their kid's college. Tuition Hillary Kramer of Kramer capital research says they could also be doing some estate planning passing money onto their children making sure or that they're diversified in terms of planning. It's just a fancy way to say. How are you gonNA leave money to the next generation but when a lot of executive -secutive start selling at the same time like they are now Kramer says market start paying attention because it may very well be just a reflection of what executives it is believe the actual overall economy will do and that a downturn may happen in the very near future corporate insiders might also be thinking about the political future in why you finance Professor David Your Mac says they may be selling because taxes on capital gains could increase after twenty twenty selling shares of stock will be much more expensive. If the Democrats win the presidential election reverse some of the trump tax cuts and maybe put in some new taxes on the very wealthy in your Amac says after Obama won the twenty twelve election companies paid out more in dividends before the Bush tax cuts expired the following year an insider selling picked up back then as well in New York. I'm Justin. Ho for
All the Reasons Things Are Going Very Poorly for WeWork This Week
"Let's begin. Shall we with a thought experiment. Imagine you are running a privately held company that is worth forty seven billion dollar based on the investments. You've gotten so far you need capital though money to grow so you start thinking about going public and people get really excited so you file the required paperwork with the Securities and Exchange Commission people start taking a real hard look governance structure and your business model and quicker than you can say Bob's your uncle. The bottom falls falls out your evaluation gets cut in half and then cut even more and then today you decide maybe going public right. Now isn't such a great idea congratulations congratulations. You're we work or more properly. It's parent the week company thinking was that the would be shared office space wonder canned was going to start trading in a couple of weeks yes but given the raft of bad headlines and a couple of recent high profile. IPO's than maybe didn't go so well see also Uber Cooler heads prevailed. Look there is a real question here given the headaches is all the money that companies can raise by going public worth downside risks marketplace's Justin Ho gets going we work is growing fast in the US and around the world but it's losing more than a billion and a half dollars a year and yet the company valued itself at forty seven billion in dollars in January J. Ritter at the University of Florida says the company's business model just doesn't justify that figure you know it's basically a real estate company that was trying into bill itself as a Tech Company at a Tech Company valuation two weeks ago we were slashed. Its valuation by more than Half Santosh Rowlett Manhattan venture partner says even that wasn't enough to satisfy investors people realizing bet no wait a minute. You just can't get a blank check anymore. Rows as part of the reason that that we work Uber and lift have stayed private for longer than other companies before going public that allows venture capitalist capture the lion's share of their growth but Kathleen Leanne Smith at Renaissance Capital says those companies are outliers compared to other recent. IPO's interests which is up over fifty percent from Peo- Shui the online pet supply company up over fifty percent renaissance capital runs an index of companies that have recently gone public and it's up thirty percent this year Smith says we work Uber and lift at the side. It's a good time for IPO's pastors are cautious about overpaying so we've had sort of a more discerning IPO market and better prices for investors. It's myth says the fact that we work as postponing going public is assigned. The market is working like it's supposed to in New York. I'm just in Ho for
Trade uncertainty to trim $850 billion global output: Fed paper
"There's a new report out from the federal reserve that puts number on the World Wide cost of rising trade tensions the report finds that uncertainty created by the trade war has been shaving off a half percent from GDP growth ever since twenty eighteen market place's Justin ho dug into this there's been a big rise of trade policy uncertainty of the last couple years that's caused by the US trade war with China the threats of new tariffs against Mexico and Europe and Japan the big finding puts a number to how much that uncertainty is dragging down the world's total output by the beginning of next year trade uncertainty will try global GDP down by just over one percent similar results here in the U. S. the fed's been saying this well before they found these hard numbers fed chair J. Powell cited trade policy uncertainty and weak global growth when he lowered interest rates last month hello is also said that even though the feds tools are powerful there aren't any recent precedents for what the fed can do about it fed officials are meeting again this month to discuss another possible cut in
Can congressional republicans take back tariff authority from the U.S.?
"The president's promised threatened, I guess five percent tariffs on everything that we import to this economy for Mexico did not happen as we know, but it does seem like a very long time ago, and I just wanted to point that out that is the context into which we bring Linette Lopez from business insider city bready from politico everybody. Hey, so city. Let me start with you actually on this one and those tariffs, and what seems to be a murmuring among congressional Republicans that they would, perhaps like to take some tariff at thirty back from the president of the United States. Do you believe that's a realistic thing? It is a real thing someday. As people look back on the Trump administration and figure out what they might wanna do to maybe improve the balance of powers. They it it's just unusual here to have the president unilaterally planning this, and then having some somewhat of a secret deal. He says afterward that there is a secret deal that came out of it. And but maybe you're you'll find out about it on a piece of paper in my pocket. All these things that we don't really quite understand. But the, the, the core issue, here, is that the president has threatened tariffs against Mexico. He's threatened tariffs against China is threatening tariffs against Australia and Europe and everyone else. And that's generally, not the kind of thing tariffs are attacks. It's generally, not the kind of thing, the president should be unilaterally doing when tax legislation is supposed to originate with congress limit. I don't know if you saw Mick Mulvaney, the acting chief of staff of the White House in conversation with Javer. Som sam. ABC this week and Mulvaney was was continuing the president's Canard, I suppose that it's actually the Chinese that are paying the tariffs it does not seem that the White House is willing to engage in reality on these tariffs at all at more than in any time, we've seen the in the Trump administration. The administration is having to constantly tell us, we're not seeing what we're seeing in this economic policy and that goes from trade that goes tax taxes that goes to everything that has to do with budget. Now, Larry cudlow mic mowing. All these people are just they're making us feel like you know, the, the president holding up a piece of paper, that allegedly set was talking about his Mexican plan. They're making us feel like all these bizarre things that we're seeing are not real. And it's this is unlike anything I've seen as an economics reporter in my life. So let me go back a couple of years then because there was there was also something that happened this week, which. I thought was interesting. Kevin Brady who used to chair, the house committee on ways and means he's now in the minority, but he seem to imply this week. I guess I'll go, I'll go tentative on this one, because he didn't come out and say it but he essence admitted that the tax cuts from a year and a half. Two years ago are in fact, not gonna pay for themselves. And we see now that corporate tax receipts are way down deficits rub sleep, it is. It is a dawning in Washington, all my goodness. Maybe that tax Bill wasn't what it was said to be is a dawning with some people in Washington. Those who looked yet, nonpartisan forecasting from the Congressional Budget Office and other institutions knew that this would raise the, the deficit and raise the debt by trillions of dollars. It is like it was known. And so we shouldn't act surprise at this is happening. We might act surprise that people are actually acknowledging the reality of it, then yes, when you cut tax rates in a relatively strong economy, you're not it's not magic fairy dust. There's a limit to what, what this tool can do. And the end result is, is debt and someday the people who the Republicans who put this through. We'll start caring about debt again, but will probably happen, when they're not in power anymore limit. Let me actually take that strong. Economy thing that was just talking about and add this week's numbers, right? Retail sales were up. We're going to have a report from from Justin ho on that in a minute inflation is still basically steady. And, and right where the fed wanted in this economy. What, what's not to love? I'm you know the last job summer was not that great young. We were having some hiccups in the auto sector where the market seems a little unstable given what the president is saying about tariffs. Yes tariffs. No people are starting to feel kind of like there's some choppiness here and, you know, we're not getting a lot of assurances from the rest of the world like everything is going to be stable, too. So I think that has people worrying Wall Street is definitely starting to worry about a recession coming in the next year or two and. They're definitely worried about corporate earnings, and I think that's one of the reasons why the president is really pushing the head of the Federal Reserve to keep interest rates low. He wants to keep the economy going at a steady clip before the