35 Burst results for "Scott Tong"

"scott tong" Discussed on WABE 90.1 FM

WABE 90.1 FM

06:21 min | 7 months ago

"scott tong" Discussed on WABE 90.1 FM

"Tanya Mosley in Los Angeles And I'm Scott Tong in Washington D.C. It's here and now The Supreme Court today heard a big case on church and state It concerns public money and religious institutions At issue is a law in Maine that lets taxpayer money be spent on private schools but not private schools teaching religious beliefs Let's talk about this with Emily bazelon She's a staff writer at The New York Times Magazine and a fellow at Yale law school Emily thanks for joining us Thanks for having me Now two families brought this case They live in Maine where public money for private tuition can not be spent for religious school tuition Can you tell us about one of these families and what they were seeking for their kids Yeah so one of the families the carsons sent their daughter to a school called banger Christian And they chose that school because they said the school's Christian worldview aligned with their sincerely held religious beliefs To give a little more context the deal in Maine is that this is a rural state and not every public school district has its own secondary school So in some districts where there isn't a high school the districts let the families choose what school to send their kids to and it's in that context that the carsons were seeking state funding to pay for private religious school Okay and at the center of this case with Carson's and the other family is the free exercise of religion clause in the First Amendment I mean what is the family's argument that theirs is being violated So you know you may sometimes people think about the idea that well we have freedom of religion but we also have in the constitution the establishment clause that says that the state can not support a particular religion So you might think that the default assumption here would be well of course the government can't pay for a private religious school But the carsons are arguing the opposite They're saying that since Maine has this funding for some private schools the main can not exclude religious schools from that tuition assistance program And that that's a violation of their freedom of religion because they are trying to send their kids to this religious school Okay now this morning John Roberts the chief justice asked Maine's Deputy Attorney General Christopher Taub about a hypothetical choice Say there's one religious school that doesn't teach a doctrine versus another religious school that does Here's that exchange Now with the first school get the funds Yes Okay With the second school No And that's because of the difference between the two religions right That's because they are their program is specifically instilling and promoting and the other religion does not That is correct So you're discriminating among religions based on their belief right So Emily what might this exchange be telling us That exchange suggests that chief justice John Roberts is on the side of the parents And the reason I say that is that in previous Supreme Court cases the court has made some kind of distinction between the status of a religious organization versus the teaching of religious beliefs So in other words the last time the court heard this it was about whether a religious school could get funding for its playground something that has nothing to do with what it's teaching And I think chief justice Roberts was sort of lighting that into this question of in his view discriminating against a religious school by not giving it money for teaching its religious beliefs even though that wasn't really the question he quite asked Okay now on the other side of this case is the state of Maine which is said in past arguments that public money should be used to teach diverse viewpoints I mean how did that side bolster their argument in the court today So Maine is saying look we think the role of public education is to foster democracy and citizenship and that public education should be non sectarian and exposed children to like you said diverse viewpoints promote tolerance and acceptance and to teach academics in a religiously neutral manner that doesn't promote a particular religious belief And so Maine thinks well if you're going to send your kid to a religious school you can do that with your own money But we don't want to pay for that because we don't think that that's religiously neutral And briefly if this case goes to the side of the parents what are the implications here Well the implications are really big The school in Bangor that the carsons wanted to send their kids to does not hire the LGBTQ teachers expels kids who identify in that way and also call as explicitly for refuting the teaching of Islam So that's a very particular view of education and this case suggests that a state that had any kind of tuition assistance like vouchers for private schools would have to also fund a school with that kind of religious belief system All right Family basil on New York Times Magazine Thank you so much Thanks for having me This week President Biden is promoting his signature drug pricing plan that will help some people with diabetes pay for their insulin And he's been quick to point out that the cost for many prescription drugs are a challenge for all Americans I think it's safe to say that all of us all of us whatever our background our age where we live we can agree the prescription drugs are outrageously expensive in this country It doesn't need to be that way But some drug pricing advocates say the president's plans for insulin don't go far enough They're pushing for last minute changes to the build back better bill that passed the house and now awaits approval in the Senate Nick forgo is Washington correspondent for our partners at stat the health and medicine publication and he's been reporting on the efforts to reduce the price of insulin and joins us now Welcome to the show Thanks for having me Yes So the big headline is that President Biden's drug pricing plan would ensure Americans spend no more than about $35 a month for insulin That is significant because the prices are often much higher How would the president's plan work It is significant.

Maine Tanya Mosley Scott Tong Washington D.C. Emily bazelon chief justice John Roberts New York Times Magazine Deputy Attorney General Christ Supreme Court Yale law school Carson Los Angeles justice Roberts President Biden Emily LGBTQ Bangor Nick forgo diabetes Senate
"scott tong" Discussed on WABE 90.1 FM

WABE 90.1 FM

06:08 min | 8 months ago

"scott tong" Discussed on WABE 90.1 FM

"From NPR and WBUR I'm Robin young in Boston I'm Scott Tong in Washington D.C. it's here and now We're headed into the last week of the cup 26 sum at the international climate conference in Glasgow And by now you might have seen these phrases thrown around Net zero the year 2050 1.5°C 2°C carbon budget Let's translate What does this all really mean and how do we get to where we're trying to go Let's break this down with Justin whirlwind He's a climate correspondent for Time Magazine and he joins us from Glasgow Justin welcome to here and now Thanks so much for having me Great to have you and we're going to talk about the very basics here So one of those is the concept of net zero carbon emissions What's that mean Yeah net zero emissions is the idea that we basically would bring emissions you know carbon dioxide methane emissions down to essentially close to zero and then the idea of net zero is to say that anything that we continue to emit will have some sort of offset or capture that will keep it at net zero so that effectively we're at zero even if it's not you know truly zero Does that mean under that concept there's still a possibility of say burning fossil fuels and having some of those fossil fuel emissions so long as they're somehow negated out in the math in a one way or the other Right That's exactly right So the idea with net zero is that you know even if we're still burning some fossil fuels there's a way to do the math such that it hits net zero and that could mean something like sucking carbon dioxide out of the atmosphere that could mean something like planting trees But I think in most reasonable analyses of how we get to net zero show that we basically have to get pretty close to zero with fossil fuel emissions And of course this is an area where there's some controversy where you might have some countries or companies that say we're going to be net zero and then you look at the numbers and they say well we're going to plant a forest the size of the Amazon Net zero can mean that but I think in the most practical reasonable analysis it has to basically mean fossil fuels close to zero And then there's the question of the when the timing here there's so much conversation of the planet the world getting to net zero carbon emissions by 2050 What's the importance of 2050 Yeah 2050 I mean if you extrapolate from this net zero language and then look at it as a temperature target and look at the temperature target of 1.5° which is the level of warming that scientists say is likely to lead to some of the worst impacts of climate change the possibility of tipping points Arctic ice sheet collapse et cetera that would really trigger dramatic consequences for the planet So if you extrapolate that temperature target 1.5°C and then you make it into a emissions target you get to net zero by 2050 because it's all about trying to keep temperature rise into that zone that helps us survive and prevents civilizational collapse All right let's talk about the timing here There is a ten year window to cut emissions and curb the worst consequences That's from a UN backed report earlier this year But then there's also this idea of a carbon budget We just saw there's a new report on the carbon budget How does that fit into this 1.5 net zero picture your painting for us Yeah so the carbon budget is another way to do the math and basically with the carbon budget approach you're thinking about we have so much that we can have met that will keep us from whatever temperature target you're talking about whether that be 1.5 or 2° And so there's just this concrete budget that we have in terms of emissions before we hit one of those markers And so if you think about the 1.5 mark we essentially have in 2020 around 400 gigatons left and at the rate we were going We would hit that and about 8 years So it really maps well into this 20 30 timeline But it's a different way of sort of parsing the same thing And I think what's really compelling about is it's just like it's a budget You take out from it and that's it So how to get to this net zero by 2050 and as you're describing keep the temperature rise within one and a half degrees Celsius The international energy agency has put out this road map for how to get there It looks pretty easy for the rest of us to understand what are the main kind of pieces in this road map Yeah so this road map from the IEA was a really comprehensive look I think more than 400 different metrics and things that we could look at It's really an economy wide all governments change right This is something that requires systemic change and not just one thing here or there But there are a few points that are worth mentioning I mean the big headline out of that report was no more need for investment in new fossil fuel resources So we don't need to start exploring for new oil and gas And then there are all sorts of other smaller piecemeal things like personal choices that often get a lot of attention that could account for 4% of the total need for emissions reductions if we walk to work instead of taking a car for example And so really you can go from everything from these really huge changes like moving away from oil and gas to these really small things about personal choices and they're all incorporated into that net zero report Does the report go into the timing if we need to go fully off of coal oil natural gas How quickly So the big thing is we need to just about have emissions that by 2030 This is a gargantuan task but it isn't net zero immediately It does give some sort of a runway But obviously you know it's 2021 almost 2022 the runway is getting shorter and shorter Yeah Now of course if we phase out certain kinds of energy we need new kinds of zero emissions energy to fill that gap Where are we According to the IEA in that as.

Robin young Scott Tong Washington D.C. Glasgow Justin Time Magazine NPR Boston Amazon UN international energy agency IEA
"scott tong" Discussed on KQED Radio

KQED Radio

07:04 min | 10 months ago

"scott tong" Discussed on KQED Radio

"From NPR and W bur I'm Scott Tong. And I'm Tanya Mosley. This is here and now Secretary of State. Antony Blinken testifies before the Senate today after a test if I've our hearing before House committee yesterday, Republicans and Democrats grilled him on the U. S. Was the U. S withdrawal from Afghanistan and Republicans were unrelenting. Many called for him to resign, while Democrats pointed to a troubled 20 year engagement in Afghanistan, which President George W. Bush started. Let's bring in representative Gerry Connolly of Virginia Democrat on the House Foreign Affairs Committee for more and Congressman Connolly. Thank you for joining us. My pleasure. Thank you, Donna. Representative. Let's cut through the partisan fighting that we saw yesterday and talk about the substance of what Secretary Blinken said. He defended the administration's handling of the crisis in Afghanistan. Talked about airlifting thousands out of the country. And he also turned some heads in the foreign affairs world by saying he'd re evaluate the U. S relationship with Pakistan, especially the role Pakistan has played in Afghanistan over the last 20 years. This could have big ramifications. Your assessment. The relationship with Pakistan has been problematic for a long time their nuclear development program Certainly caused the United States great concern. But also the relationship Pakistan has had not only with the Taliban but with the Haqqani network, which now is included In the new Taliban cabinet. And that is very troubling that Pakistan would have a relationship with known terrorist networks. That were targeting Americans during the Afghan war. Do you feel you got to hear a satisfying explanation for what? The administration Was thinking about is the crisis in Afghanistan unfold it. Frankly, I think there's too much emphasis on The events that started to unfold in the months preceding August. 14th. This didn't just happen on President Biden's watch. The Trump Administration did three things. One was to agree to face to face negotiations with the Taliban. The second was to actually agree not to include the Afghan government in those negotiations and then setting a a one deadline for the full withdrawal of US troops from Afghanistan. Those three things Undermined the Afghan government and undermine the ability of the Afghan military to muster any kind of a rale and resisting the Taliban. But even if the bite in administrations hands were tied, so to speak, because of past administrations, what do you say to critics who believe we could have handled the exit? Better? I mean, even some Democrats have said the administration. Shouldn't have left their bases so quickly. I think there's lots of room for Monday morning quarterbacking on what could have should have gone better. I think the administration was saddled with decisions already made by the previous administration. I think it also frankly made the mistake of buying in the conventional wisdom, which was that the Afghan military Would be able to continue to resist, and I think that kind of conventional wisdom coming both from our military and our intelligence communities. Obviously contributed to the chaos. Yesterday. You also criticized your fellow congressman Joe Wilson, Republican of South Carolina, who spent four of his five minutes laying into the secretary. He didn't ask any questions. Here's how he concluded your bizarre abandoning Bagram airfield led directly to 13 more right Marines murdered in Kabul. You should resign Representative Conley, you push back at representative Wilson. You cited his famous breach of decorum when he shouted, you lie at President Obama. During the joint address to Congress. Have you heard from representative Wilson since that exchange? Look I like Yo Wilson, but I felt what he said yesterday was outrageous. To lay the deaths. Uh, brave American marines who are trying to help in the evacuation who died at the hands of a suicide. Bomber, which was a risk We knew under those circumstances, I thought was really a liable that had to be responded to At the root of this hearing. Is this call by Republicans to have Secretary Blinken to resign? The GOP is going to keep pressing the Biden administration on Afghanistan. They're trying to campaign on it. Are you worried about that? What are you and other Democrats trying to do to counter this message? Well, as I said yesterday, I believe the Republicans are guilty of very selective. Fact checking mixed with salad dressing of enormous amnesia. Afghan is a 20 year war. The longest war in American history. Lots of mistakes were made. There's a lot to be learned from These last 20 years and I hope will spend more time trying to understand those lessons rather than engaging in petty partisan blame, laying That conveniently overlooks. The very consequential decisions made by predecessor administrations, especially the Trump Administration. That's representative Jerry Conley, Democrat of Virginia. Thank you so much for talking with us. My pleasure, Tanya. Thank you for doing this. President Biden is taking political heat for his covid vaccine plan. It requires big companies to have workers vaccinated or tested regularly. Congressman Jim Banks Republican of Indiana tweeted that vaccine mandates are American. Other descriptors from critics include authoritarian tyranny, Government power grab, Let's take a long view. Now with Julian Zelizer, he's professor of history and public affairs at Princeton again, Julian Thanks for having me. Nice to be with you. I gather presidential vaccine mandates go back a long, long way to when George Washington. Well, George Washington has been discussed in terms of the period with the Continental Army Forces where he promotes the inoculation of the troops against smallpox. He thinks smallpox is the most dangerous enemy. The troops face in the American revolution. He receives a lot of fallout for doing it. But in the end, uh most people today think that was a good decision so we cannot go all the way back to Washington to see This kind of policy. That was the fallout.

Jerry Conley Tanya Mosley Julian Zelizer Tanya Antony Blinken Gerry Connolly George Washington Scott Tong Donna Kabul Julian Monday morning Taliban Jim Banks 20 year Congress Joe Wilson Republicans GOP Democrats
"scott tong" Discussed on NEWS 88.7

NEWS 88.7

01:55 min | 10 months ago

"scott tong" Discussed on NEWS 88.7

"From NPR and W bur I'm Scott Tong. And I'm talking. Mostly it's here. And now voters in California are answering to questions today. Should Governor Gavin Newsom be removed from office, and if so, who should take his place? Millions of Californians have already cast their ballots in this closely watched recall election. It's a rare chance for Republicans to seize control in a deep blue state. Cap radios. Chris Nichols has the latest Chris Welcome. Hi. Great to be here. Great to have you There's this narrative tug of war, so to speak on what this recall is actually about. Can you remind us why this particular recall effort picked up steam? Well, this recall effort picked up steam, probably because of Newsom's strict covid policies. The supporters of the recall say that the governor went too far when it comes to mask mandates business closures during the pandemic, but I think it's also important to remember That this specific recall effort actually started before the pandemic. So Newsom has had certainly opponents. Republicans don't agree with his policies. Across the board, not just as covid restrictions right? Republicans say it's about the issues and how Newsom has governed. The state Democrats say it's an attempt by Republicans to actually take over the state of California. You've been talking to voters. What are you hearing about the basis of their vote? What is this recall really about for them? I have. I spoke this morning with 39 year old Woodland, California resident Justin Smith. He says that the governor's handling of the pandemic really influenced his Yes. Vote on the recall. I think we've seen the strictest lockdowns pretty much in the country, My mom. Took her life in February, largely because of the anxiety.

Chris Nichols Scott Tong February Justin Smith California Democrats NPR Chris Republicans Woodland, California Newsom today 39 year old Governor Millions Gavin Newsom this morning Californians
"scott tong" Discussed on WBUR

WBUR

05:59 min | 10 months ago

"scott tong" Discussed on WBUR

"I'm Scott Tong, and it's here and now Congress is back in session after its traditional August break, and lawmakers are gearing up to grill Antony Blinken, the secretary of state, speaks on Afghanistan and other issues before the House Foreign Affairs Committee today. Blinken is the first administration official to testify after the Taliban takeover and let's bring in Michele Kelemen, NPR diplomatic correspondent. Hi, Michel. Hi. There's got So can we expect the Capitol Hill rarity today for Democrats and Republicans to be roughly in the same page today as far as Afghanistan? Well, it's certainly there's a lot of bipartisan concern about the way this war ended. But Blinken is likely to face kind of a tougher tone from Republicans. The ranking Republican on that committee Michael McCaul. And his colleagues wrote a letter to blink in recently accusing the state Department of a dereliction of duty and criticizing the woefully inadequate contingency planning on Afghanistan. Those from McCall's words, um You know he's been furious with the way the State Department has handled the evacuation. Since the U. S military wrapped up its airlift last month, McCall has been one of those advocating for hundreds of stranded Afghans and some Americans at the airport in Mazar e Sharif in northern Afghanistan. Those charter flights still haven't been able to take off. And Democrats, by the way, have raised alarms about that, too. So tough words on the way for Antony Blinken, and he will take the heat by virtue of being the first official in the Biden administration to testify in this But how much authority did the State Department actually have over this pullout compared to say, the Pentagon or the intelligence community? Well, I mean, obviously, there's a lot of blame to go around. And folks here at the State Department thinks some of the criticism has been unfair. The president set the course ending the US war based on a deal that the Trump administration negotiated with the Taliban. Officials in this administration, including I would say here at the State Department thought they had time. They thought Ashraf Ghani is government would last longer. They thought they could keep an embassy open even after U. S troops left. And in the end, they really had to scramble and you know they did get 124,000 people out of Afghanistan during a very dangerous airlift. They've even gotten some Americans in green card holders out since the airlift ended, But there are many more who still want to leave and are still very fearful. Now this administration Of course, inherited a US Taliban deal from the its predecessor. And, of course the whole world started under President Bush two decades ago. Democratic representative Chrissy Hoolahan spoke on morning edition today and what she wants to hear from Blinken about where responsibility lies for this entire tobacco. Let's take a listen But I think that's one of the things that we need to be careful of is. I think the American people frankly just want to understand what's happening. Why decisions were made. You know what? Where we can trace those decisions to and how we can, frankly continuing out of this 20 year war in a better place. So where we can trace those decisions to Michelle. What do you expect to hear on that question? Well, you know, Blinken has been a key aide to Biden for years when he was in the Senate and the White House and now as secretary of state, so clearly, he would have good insight into how The decisions are made. But whether or not he answers such questions as a very different story, Scott you know, Cabinet secretaries almost always say they keep their advice, Private. Um, And I suspect that's what we're going to hear again from him today. Yeah, well, I guess maybe that's how you keep your job as a Cabinet secretary. Finally. Now the State Department does issue visas and you report been reporting on the special immigration visas for Afghans who have helped Americans. What's the latest there? Well, Blinken is likely to repeat the same argument that he's made that they inherited a huge backlog of requests for these special immigrant visas because the Trump administration had stopped interviews. They did restart them. This year. They tried to streamline the process. But you know the question is, what do you do now? How do you make sure you can continue to help people who, um, could still possibly apply who were want to leave and who are in danger, but also do it in a way that's safe for the U. S. And there are a lot of really tough questions to be asked there. NPR's Michele Kelemen. Thanks as always, Thank you. By now, many of us know someone who has caught covid 19 after being fully vaccinated. But despite what seems like high numbers of those so called breakthrough infections, the numbers are actually pretty low. Several recent studies show that only one in about 5000 vaccinated people are testing positive. That's less than 1%. So why does it feel so scary? Let's bring in Dr Ashish Jha, He's dean of the Brown University School of Public Health. Dr Zhao Welcome back and let's start with those numbers. How likely is a fully vaccinated person to end up testing positive? Yes. So the best estimates right now are as you said about one in 5002. My best guess is probably more like one in 10,000. Now in a large country like ours, with 175 million people vaccinated that's still you know, a good number of people having breakthrough infections. But from a individual risk point of view. It really is very, very tiny. For those vaccinated people who do get infected, though what is their ability to spread this virus and is it different for people who are Symptomatic versus those who are asymptomatic. Yes, that's a great question. So here's what we know. Vaccinated people can spread, but they're far less likely to spread. They have less virus. They're contagious for a much, much shorter period of time. And the second part is almost all the evidence out there says the vaccine in people spread when they have symptoms, so a breakthrough infection..

Antony Blinken Michael McCaul Michel Michelle Michele Kelemen Scott Tong Scott McCall House Foreign Affairs Committe Ashraf Ghani Mazar e Sharif Democrats Blinken Ashish Jha President Brown University School of Pub Congress Chrissy Hoolahan Republicans 124,000 people
"scott tong" Discussed on WBUR

WBUR

04:15 min | 1 year ago

"scott tong" Discussed on WBUR

"And going to Mars. I'm Scott Tong for marketplace. I know. Sometimes you wake up, you have to know right then and there What's going on in business and the economy? Check out the marketplace. Morning report. David Brancaccio in the game getting out of bed. Figuring out what's going on and telling you about it. Check it out. We are give her take six months into the Biden administration as good a moment as any really to check in on where some of the promises that candidate Biden made. Stand now that he's got the job. What about, say health care? As with many other things, it is not just Republicans that Mr Biden has to placate more than 150 House Democrats right with a letter calling on the president to do more on one part of the health care system in particular. Expanding access to Medicare is marketplace Accumulate. Adams reports in President Biden's budget proposal he calls for lowering the eligibility age for Medicare from 65 to 60. And there's research explaining why many advocates see that as a good idea. Joe Strayger is a professor at Stanford School of Medicine and a surgeon. And as a surgeon, I noticed in my practice that there was a there seemed to be a sudden rise in the number of lung cancers. I was treating in patients who had just turned 65. He asked around, and his colleagues saw the same thing. Normal rates at age 64 66, but twice as many lung cancer treatments at 65. There's no biological explanation for why there would be that that kind of jump. But as Schrager found in a research paper he co authored with colleagues There is an economic explanation. People were waiting for treatment until they were eligible for Medicare. Schrager says Lowering the eligibility age could save lives. Because that period of time in your early sixties I think it's a window. Where are sort of work. Associated Assurance system tends to fail a lot of people, and it's the same window when illnesses that are life threatening become more and more common. And conditions that aren't life threatening as well. Judy Stein runs the center for Medicare advocacy. Her group works with clients to ensure they receive Medicare benefits. And they come to Medicare. Uh, sicker, more vulnerable than they might had. The there've been adequate coverage before they came onto Medicare. Lowering the eligibility age may sound simple, but like anything else involving health care in this country, it isn't for example, providers generally get paid less under Medicare than they would from an employer plan or private insurance plan. Tricia Neuman is a senior vice president at the Kaiser Family Foundation. And so I think if this proposal were to move forward in game steam It would not be a surprise to see serious opposition from the hospital industry and other health care providers. Having more people on Medicare would also shift the cost burden of ensuring them from employers to the government. Mirian logos in teaches health policy at Columbia University. Employers, depending on the generosity of the benefits package may see their employees choosing to ensure themselves through the Public system that would be a real win for small businesses. Of course, all this depends on the details of any eventual plan, which would still need congressional approval. I think that there's there's a degree of pessimism around whether this will go forward and that's up to the political process, and the Biden administration is already in a lot of tough political negotiations at the moment in Washington. I'm Kimberly Adams for Marketplace..

David Brancaccio Joe Strayger Tricia Neuman Kimberly Adams Kaiser Family Foundation Judy Stein Scott Tong 65 Schrager Republicans 60 Biden six months Mars Washington Stanford School of Medicine Columbia University Adams twice 66
Pipeline Companies Try to Avoid Regulation, Despite Major Hack

Marketplace with Kai Ryssdal

02:09 min | 1 year ago

Pipeline Companies Try to Avoid Regulation, Despite Major Hack

"More than eleven thousand gas stations across the southeast. Remain out of gas panic. Buying has drained over half the stations in north carolina and nearly seventy percent of the pumps in washington. Dc this comes. Five days after the colonial pipeline resumed operations after a ransomware hack forced shutdown tomorrow congress will launch a pipeline security bill to prevent future outages. But critics say. It's still missing. Some major safeguards marketplace's scott. Tong kicks us off when something goes wrong with the pipeline like the colonial pipeline hack companies. Do not have to tell the government electricity companies to and if there's a plane incident airlines have to open up the government. Investigators says rob kentucky is a former top cybersecurity as to president obama. They will be doing everything they could to understand what happened. And then they would rapidly sharing that information with other airlines so those airlines could prevent the same thing from happening to that. That's not at all what's happening with this pipeline incident instead. It's a volunteer system of protecting data and sharing information. There are no government mandates or fines just recommendations in the bill in congress would keep it that way thing is a recent survey of pipeline companies. Found that just eight percent actively share information with the rest of the industry and the government that's a woefully low number indie lee at the law firm jones walker. Did this survey. There's not enough charity. And there are too few sticks to ensure that our pipeline industry stakeholders are actively engaging in the budget fan to make sure that they are say. This isn't a new fight nine years ago. Oil and gas lobbyists fought off mandatory rules and now energy trade groups are again. Seeing the industry should oversee itself mark weatherford is dubious strategy head at the national cyber security center which advises government officials. I am not a fan of regulation. And i hate to say this. But you know it's been proven over and over again. That companies are simply not going to self regulate when the public safety is at stake. He says the government needs a bigger role

Rob Kentucky Congress Tong North Carolina Jones Walker Washington President Obama Scott Mark Weatherford National Cyber Security Center LEE Government
Trump administration to auction oil drilling rights in all federal lands of ANWR coastal plain

Marketplace with Kai Ryssdal

02:25 min | 1 year ago

Trump administration to auction oil drilling rights in all federal lands of ANWR coastal plain

"After decades of debate the trump administration next week is planning to auction off drilling rights in alaska. More specifically alaska's national wildlife refuge those against drilling say they want to protect the land which is home to some two hundred and fifty animal species including caribous and wolverines. But here's what you may find surprising. And this long-awaited bidding process turns out. There's not a lot of interest. Here's marketplace's scott tong. A lot of things were in fashion in the mid eighties. Big hair fanny packs and oil giants wanting to drill in alaska. National wildlife refuge an. I'll have mostly gone out of style. Tim brasher co publishes the alaska economic report. One thing that is really interesting. A lot of us in alaska who follow these things is how embitterment the major oil companies have been an war for years. That could be because they sense. The toxic politics decades of environmental opposition media risk of lawsuits against oil companies. Considering in war plus corporate reputational risk readdress and drilling in remote alaska is not cheap. Warns energy and lawyer. David hayes a former top official at the interior department. The price of oil is not high. The expense of drilling at alaska is high. Meanwhile there are many places in the world that are much cheaper to drill for oil than the alaskan arctic. So most if not all oil giants are expected to sit out the bidding which would mean lowest prices in measly royalties for the government. Now at exactly what. Congress predicted three years ago. When an authorized leasing assumed a billion dollars in royalties the bids that are put in are going to be nowhere near what congress said would occur. Low bids mean drilling rights could go for bargain. Prices though and radner at the alaska economic report predicts some interest perhaps among state and local players. The geology does look very good and even given all the bad pr and the politics. I just can't imagine that somebody maybe just individuals aren't going to submit bids perhaps anticipating lukewarm interest alaska state development commission. Just got the okay to itself to make a grab for potentially valuable land and eventually flip it or partner with oil. Companies deadline for bids came yesterday and wednesday. They'll be unsealed

Alaska Caribous Scott Tong Tim Brasher Wolverines Alaskan Arctic David Hayes Interior Department Giants Radner Congress Alaska State Development Commi
There's not enough internet for remote learning to go around

Marketplace Tech with Molly Wood

02:44 min | 1 year ago

There's not enough internet for remote learning to go around

"This fall, we've been talking every Monday about education and technology during this pandemic including how access to high speed Internet and devices is just not cutting it across the country and there's new data on this in our latest marketplace Edison Research poll thirty percent of parents or guardians with kids. Online and making less than fifty thousand dollars say their Internet access is inadequate for online school marketplace's Scott Tong reports from Virginia on the broadband gap in central Virginia's Louisa County working mom Megan duck gets her two daughters online for school. By getting in the car they drive to a Wifi. Spot School district has set up in the Strip mall parking lot and here you can see a small jury rig flatbed trailer with solar panels powering electronics that send out an internet signal and from the car they log on the zoom. If we know like if their teachers say we have to do something we have to go to the Wifi spot because you couldn't even begin to logging on the website. Not. From home where they have just one choice for Internet service satellite, it's costly and it's not reliable doesn't work if it wind blows that doesn't work also at the hotspot. Today is fifth grader oriented Nestor Riding Shotgun next to her grandma in their suv, her online class. Let's her message the teacher for the box. It just POPs up on your computer win where at school it got good editor at their. At you need help you get acid they'll bested U. back. When your home. Do. You ever wish you could send a message yes I do. Her family has no broadband at home a reality for one third of rural Americans according to a recent

Spot School District Megan Duck Virginia Edison Research Scott Tong Strip Mall Louisa County Editor
Thousands of workers are literally stuck at sea

Marketplace with Kai Ryssdal

02:29 min | 1 year ago

Thousands of workers are literally stuck at sea

"The CEOS of some of the largest consumer products, companies, Unilever procter, and Gamble Johnson and Johnson are weighing in on what they say is a question of Human Rights on the high seas because of Corona virus measures some three, hundred thousand people who work on commercial vessels you know the kind that carry food and Health, and hygiene products among other things are stuck on their ships unable to leave governments around the world of closed ports, borders, and other travel facilities that allow crew changes and not being able to change crews on these ships is a problem for the health and safety of workers, as well as a pretty good way to clog up supply chains from Washington marketplace's Scott Tong, reports typically commercial ship workers signed contracts of six or ten or twelve months, and when that's up the ship swapped crews at the next port. But whenever they came near the boards, the poor is not allowing any Gano. Bronco Berlin is with the International Transport Workers Federation. He says some workers have been stuck on board for seventeen months in that some ports except products but not people in one case, several ports refuse to take the body of ship worker who died, and then we actually find the way that the body was taken in Singapore, and after fifteen days on board the ship, the issue over work crews is clogging up the supply chain. Tom. Dairy CEO of the Institute for Supply. Management says officials in places like Australia are now starting to ban improperly staff ships from sailing because we're seeing these ships were taken out of circulation as it were. We've seen rates for freight crossing the Pacific. Were than quadruple since June he says, delays are causing fridge and dishwasher shortages in the US and keeping goods moving is critical to the multinational firms that are now pressuring the UN to get involved. The group is the consumer goods forum. In Da Berge Array is director we call face the risk of global relations. Jing. Disrupted and all of this expense of Lucas wellbeing meantime the workers remain mostly invisible says Andrew. Kinsey is marine risk consultant at the user alliens when you go into a store and you look at items on the shelves, their way got to that shelf. Was via. As a consumer, we're blind to it but eighty percent of the goods in the world are delivered by see I'm Scott Tong for

Scott Tong Bronco Berlin International Transport Worker Gamble Johnson TOM Unilever Procter Gano Da Berge Array Institute For Supply Washington Marketplace Kinsey Singapore UN CEO United States Consultant Australia
"scott tong" Discussed on KCRW

KCRW

02:25 min | 1 year ago

"scott tong" Discussed on KCRW

"First the surgeon. The selling of tech stocks from last week does not appear to be over the NASDAQ is down at the moment, 2.6% the Dow is down 512 points 1.8%. The SNP is down nearly 2%. Once upon a time, at least through the middle of last week. Investors love their Tesla, the electric car company. But today, Tesla's stock is down. Nearly 16%. Tesla could have been added to the S and P 500 stock index last week, but it was not included. So no artificial boost there. Electricity has also been turned off in parts of Northern California this morning as a precaution. It's especially windy in some areas, including Knappen Cinema Wine country in front and center today is the utility Pacific Gas and Electric Marketplaces. Scott Tong joins us Here live, Why is PG and e turning off the power? Well, it's calling this high ignition risk. The last couple days have brought a historic heatwave triple digits in Northern and Southern California and wildfires and P Jeannie says new ones coming today and tomorrow could cause its power lines to spark more fires. Which is what happened three years ago. So in a preventive decision, the power companies turning off key electricity lines, mostly up north, and this is affecting up to 172,000 customers in 22 counties, according to PG and E. David. Because you say Scott Fiji has been blamed before. Yes. In 2017 state investigators found P Jeannie equipment responsible for 17 major fires and one of them. There were these 50 mile per hour winds that snapped a tree in Sonoma County, knocking an ageing power line into a dry grass field in that sparked the so called Nun's fire. PG and E got sued for many of these fires in 2017, making paid more than $25 billion to settle these lawsuits, and it just came out of bankruptcy in July. And I think I'd like to distinguish this from the rolling blackouts they have because of overloaded power grids, right. That's right today is about power lines that air fire risks. But separately, they're grid is overworked with the heat and people running a sea so rolling blackouts are possible. California's did see them last month in some experts questioned if P. Jeannie was prepared. Check them. All right, Scott tongue Thank you very much for many parents trying to keep their paychecks going. A crucial question on this day after Labor Day is.

Tesla P. Jeannie Southern California P Jeannie SNP PG Scott Tong Scott Fiji Northern California Scott Knappen Cinema Wine Sonoma County Pacific Gas E. David
Ransomware attacks against hospitals are on the rise

Marketplace Tech with Molly Wood

03:00 min | 2 years ago

Ransomware attacks against hospitals are on the rise

"The FBI and Homeland Security warned that Chinese hackers are trying to break into us. Companies and health organizations to steal research and intellectual property related to the new corona virus and international authorities have been warning for weeks that militias. Hackers are stepping up ransomware attacks against hospitals and healthcare providers that's when they break into networks and hold data hostage until the organizations pay. Let's dig into all of this and quality assurance the segment where we take a deeper look at big tech story. Marketplace's Scott Tong has been reporting on this from Washington. Inter poll the US government. Google Microsoft. All come out and said you know. There's a lot more attempts to get into hospitals healthcare networks drug companies working on a vaccine all of that. Take your data steal it or locked up so you can't get access to it so it certainly seems like. It is a heightened threat. There's more going on so about these warnings. Do we have a sense of what hackers are trying to get at? When they attacked these healthcare organizations the wordings have not been very specific as to what they're trying to get but what they say. Is You know. Be careful if you are a company working on a new technology a vaccine or testing technology. You should be worried so it kind of implies that's what the bad guys would naturally be after what are the attack methods. One of them is the software to get somebody in organization. Click the wrong thing as spoken to some cyber analysts. Say there's a website that looks really similar to that Johns Hopkins Global Map of the Corona virus that so many of us have clicked on if you click on the wrong thing share than the malware kind gets into your computer. There's also the fake emails and and some of them out there pretend to be from the boss of a company and then there's tools to candidate in just by hacking weak spots in a company network. And then there's another one to Kinda Rome inside the network to see what's there and another tool to lock up the data and then you can notify the people at the company the Organization to say well you know it. You don't have access to your data anymore at now you have to pay. Do we have any sense of of weather like these organizations are more or less secure? Are they in any way equipped to sort of hand deal with this at the same time that they're dealing with a massive public health crisis well people who have watched this and spoken to one person who actually negotiates on behalf of healthcare organizations and hospitals When they get hacked in this way and in what they described as many hospitals in general they don't have the latest version of software. A lot of hospitals and diagnostic machines are running on windows. Xp and they have a lot of people coming in and they're just crazy busy right now even though the authorities say well don't WanNa pay the ransom because you're rewarding bad behavior. Well if you have lives to save you might be a little bit more inclined to pay even if you're not supposed to

United States Johns Hopkins Global Map FBI Scott Tong Homeland Security Washington Google Microsoft
How a drop in oil prices today could fuel tomorrow's energy transition

Climate Cast

03:58 min | 2 years ago

How a drop in oil prices today could fuel tomorrow's energy transition

"Oil prices take a roller coaster. Ride I'm NPR. Chief meteorologist Paul Hotter here with climate. Castor oil prices fell below zero this week as much of the world shelters in place but the pandemic may also feel a six percent drop in greenhouse gas emissions. This year that's the biggest drop emissions since World War Two. So what does it mean for greenhouse gas emissions and energy as we rebuild the global economy marketplace correspondent Scott? Tong focuses on climate and Energy Scott. Welcome to climate cast. Paul needs to be with you so oil prices dipped into negative territory this week and then they spiked again. Put this into perspective. What's going on with the oil market so demand for the world's oil which until now had been kind of steady by one hundred million barrels of oil every day worldwide. That's fallen by thirty percent and now markets are Kinda flipping out trying to adjust to this whatever you call it. This pandemic normal were in now. Scott the lack of oil demand is also translating into a reduction in greenhouse gas emissions the world meteorological organization now predicts a greenhouse gas emissions will be down about six percent this year and the UN estimates global emissions must fall by around seven and a half percent every year from now until twenty thirty to stay within that one point five degrees Celsius goal on global temperature rise. How can we keep some of these emissions cuts and get the economy working again? I think there are opportunities in. There are also some challenges here. We've lost one in twenty million jobs you know. That's about one. Out of eight of us in the workforce so something has to change but the opportunity is to lock in some telecommute. You know we've learned that a lot of us can do most of our jobs Without having to commute to work there also might be an opportunity as far as our use of oil in the market right now. A lot of oil companies are in tough shape and so they're not investing in finding more oil. So what happens down? The road is if they don't find as much in demand comes back then. The kind of won't be enough in prices are GONNA go up. Then that makes it more affordable to find cheaper greener option. Say to buy electric vehicles and that kind of thing. I understand that if you shut off a well it's not easy to bring back on. Can that push markets in a cleaner greener direction right now in the oilfields of West Texas? They don't make money at the price where it is now. And so those wells are shutting down and a lot of other places that's happening to and for the older oil wells right. They need pressure from underground bringing oil. Backup and if you turn it off. In some cases it doesn't turn back on if oil. Some of that oil has to stay in the ground. Then we kind of have a scenario like Europe right where we're gasoline is just expensive by policy and in places where gasoline at tends to be more expensive greener options become much more affordable and we've seen renewable energy jobs booming. We know that climate solutions can produce jobs. Of course now. We see the oil sector jobs in kind of a bus cycle. So are we likely to see more job shocks and transitions going forward? As our energy balance changes we've seen a lot of oil jobs disappear already. I've done some reporting long distance reporting talking folks in the Permian Basin in West Texas where there had been a lot of energy jobs in those drying up pretty quickly so there are going to be winners and losers in every kind of transition for sure. The job search going to migrate to the industry's tomorrow. Marketplace correspondent Scott Tong. Thanks for sharing your perspective on climate cast today. Of Course Ball. Nice to be with you. That's climate cast. I'm NPR chief meteorologist Paul.

Scott Tong Paul Hotter Chief Meteorologist NPR West Texas Europe UN Permian Basin
"scott tong" Discussed on 90.3 KAZU

90.3 KAZU

02:09 min | 2 years ago

"scott tong" Discussed on 90.3 KAZU

"On that to I'm Scott Tong from one use of oil that hasn't gone away is the gas that's being used to get the stuff we need to where it needs to go even though a whole lot of this economy is shut down most of America's truckers are still hitting the roads every single day Steve fields is a driver with a big shipping company called why are sea freight he's also one of the ten people we are profiling in our series about the American labor force it's called the United States of work here is the road side perspective from one part of the essential work force once I get that truck you know I've I've wiped it down off of my shoulders and all that so that environment is pretty safe it's when you get out of the truck that's concerning you know I'm just more learn about door handles and you know you go on to the truck stop you can't really say I don't need anymore but in a bring your own you know I bring a gallon of water or something to drink that way I can restrict my my stops a little bit the changes the that I've that I've noticed is the the drivers all the drivers are workers talking about you know the traffic being down it's the for example there's you know there's a lot of road construction usually happens in the spring all across the country and with the less traffic the road construction is becoming kind of a non issue because I mean you have to slow down a little bit but you get right through it which is a it's a plus for everybody my personal life at home is has changed because we pretty much stay home I mean the we do things that need to be done around the house here you know there's always something to do if you if you live in a home or an apartment one of the cool things I've noticed I mean we've been doing a lot of yard work and stuff and the people just out walking taking a walk with her kids I think it's I think it's taught people a little bit to maybe slow down and enjoy live so that's if you have to put a positive spin on this that's probably a good thing tell us about your.

Scott Tong America Steve fields United States
"scott tong" Discussed on KQED Radio

KQED Radio

02:14 min | 2 years ago

"scott tong" Discussed on KQED Radio

"Working on that to I'm Scott Tong from one use of oil that hasn't gone away is the gas that's being used to get the stuff we need to where it needs to go even though a whole lot of this economy is shut down most of America's truckers are still hitting the roads every single day Steve fields is a driver with a big shipping company called why are sea freight he's also one of the ten people we are profiling in our series about the American labor force it's called the United States of work here is the road side perspective from one part of the essential work force once I get that truck you know I've I've worked down off of my shoulders and all that so that environment is pretty safe it's when you get out of the truck that's concerning you know I'm just more learn about door handles and you know you go onto a truck stop you can't really say I don't need anymore but you know bring your own you know I bring a gallon of water or something to drink that way I can restrict my my stops a little bit the changes that I've that I've noticed is the the drivers all the drivers workers talking about you know the traffic being down it's the for example there's you know there's a lot of road construction usually happens in the spring all across the country and with less traffic the road construction is become kind of a non issue because I mean you have to slow down a little bit but you get right through which is a is a plus for everybody my personal life at home is has changed because we pretty much stay home in a minute we do things that need to be done around the house here you know there's always something to do with you if you live in a home or an apartment one of the cool things I've noticed I mean we've been doing a lot of yard work and stuff and the people just out walking taking a walk with her kids I think it's I think it's taught people a little bit of maybe slow down and enjoy live so that's if you have to put a positive spin on this that's probably a good thing tell us about your coronavirus economy widget at market place that organ just because.

Scott Tong America Steve fields United States
"scott tong" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:56 min | 2 years ago

"scott tong" Discussed on WNYC 93.9 FM

"All lose I'm Scott Tong for marketplace the biggest story in this economic crisis so far and look it's still early which I know sounds ridiculous to say but I would suggest the biggest story to date has been a very sudden and very big unemployment crisis more than twenty two million people have filed initial benefits claims in the past month or so and more than a million of those people are in the state of Texas where the unemployment program like everywhere else in the country is completely overwhelmed to get a feel for what it's like on the ground we've called and soon he is the executive director of the Texas workforce commission Mister Serra workmen programs thank you very much for having me tell me what you're what it's been like in the in the belly of the labor force bees these past three four weeks ago it it it it's been something incredible Daniel is the six state agency that I've worked at in Texas state government in about thirty four years nothing has been as challenging as nerve wracking as stressful as this the the staff here doing everything they can and it seems like wave after wave after wave keep coming in and when we just keep addressing it so it is completely different yeah I know you're adding staff and ending hours you're going you know twelve hours a day I think every day of the week how are your people holding up other holding up well they know that their what they're doing is providing a lifeline not just me money but a lifeline to we consider we are our neighbors our fellow Texans I should knock on wood but I haven't had any any resignations I haven't had any folks emailing me or calling to complain and my email is available to all all four thousand staff that we have over here so as you sit there and and you are inundated with calls and hits on the website what's the work flow I mean so many calls they get through and then and then how quickly can you help them if they get through on the telephone which is still a challenge and by the way not only if we added staff but we have brought on board three outside call centers and are bringing on board a fourth but when you when you get to go to one of the people that that answering those phones they'll take the application if there's an issue they'll work through the issue right then and there and then within a week or so you'll get a confirmation from us along with a but dated said call back in request payment on that day are you calling request payment and then within fourteen to twenty one days you'll either have a direct deposit or debit card it must kill you to know that for as many people as you lay on an as many extra call centers and computer servers as your start up there are still people who can't get their yes Sir it that bothers us the most interest rates as the most because we know we can help people once they get to us and then our frustration is the volume Justin just continues to to increase yesterday for example we received over two million calls we can answer all those calls obviously good at about sixty one calls a second but there were two million people calling us some of those were repeat calls because you know like you and I should say you but I know like me if I get frustrated I hang up I called back and hang up a call back but it is very frustrating to us in but we're gonna do whatever it takes to add resources to computers people anything else to it to get everybody you've been in Texas state government you said what like thirty some years right long time yes Sir close to thirty four years you've seen the hurricanes you seen all kinds of stuff you ever seen anything like this nothing at all the thing with this is we have plans in place that that address hurricanes and other disasters flooding but it was the intensity and the speed and the magnitude they just completely overwhelmed us immediately as an example we added four hundred lines telephone lines incoming telephone lines to what we already had which is about fifteen hundred and the day we added them they immediately got flooded you know just immediately inundated so it certainly is the executive director of the Texas workforce commission Mister Turner thanks for times are really appreciate it and best elected as you do this good work thank you very much I appreciate you give me the opportunity to visit with you coming up this filters membranes was developed in Massachusetts.

Scott Tong
How worried should we be about COVID-19 and the economy?

Marketplace with Kai Ryssdal

04:40 min | 2 years ago

How worried should we be about COVID-19 and the economy?

"You know. Much as stock markets have built circuit breakers to put a stop to panic selling and recalibrate the mood. Which by the way happened today. Not Long. After the open when the S. and P. Five hundred hit seven percent on the downside. So too will we use the program today to recalibrate the mood to explain. Why all of a sudden the economic realities of the corona virus seemed to have gotten so much more real to start us off economists making green from the Harvard Kennedy School Megan's to have you back on the program. Thanks for having me. Why as best you can figure out did. The bottom seemingly fallout today. What happened so I think it was a confluence of two things? Mainly one is northern northern Italy. Pretty much shut down so it just fed the idea that even if cases or slowing down within China they're actually accelerating outside of China. And that's a big deal and then the second issue actually isn't directly related to the corona virus. It's more related to the OPEC meeting on Friday where Saudi and Russia decided to flood the market with oil. And so I'M OIL. Prices of fallen pretty precipitously and that creates huge credit problems for a lot of companies related to the energy industry which are actually pretty highly leveraged inert generally rated just above junk level. And so if you start seeing defaults than they'll be downgraded and there will be four selling so that's also provided a lot of drama today highly leveraged lots of borrowing more on oil coming up from Scott Tong in a minute. Let me ask you about a word you use though Things are accelerating outside China. Speaking broadly are you surprised at the speed with which this whole thing has come to this moment. Sue Him nine just given how incredibly interconnected. The world is both in terms of global supply chains but also more importantly in this case in terms of people traveling around and I think that China really did great work in buying the rest of us time In that they had really draconian measures to try to keep people in their own towns in their own buildings. It's much more than most people realize. In addition to quarantining and social distancing. You know there's an APP that the government runs where you can see you as corona virus. So that enforces social distancing so China about us a lot of time and a lot of us could have completely squandered it most of all the US so our response to this crisis has been pretty embarrassing. I think for a developed country with a highly competent health system. How much of that American response contributes to what I perceived to be the changing nature of this crisis. It's going from a supply shock which we talked about when apple had its earnings warning to now people worried about demand shock and the credit markets. And all of that. So the demand shock. I think we're really worried about and rightly so but we don't actually have any data that suggesting it's happen. So the demand shock we know is coming out of China Rate. The second largest economy in the entire world was at a standstill for at least five weeks for for the. Us demand shock at home. It's just perceived at this point right it involves people not going out to dinner not going out and spending and we can certainly get there but at the moment I think it's just concern about. It's not we're not getting any data that suggesting that that's the case really It's just something that seems like it might be coming and I think it's absolutely reasonable for us to worry about this. And then that's feeding over into the financial markets of course is confidence is is been bled from them. And so you've seen these huge moves over the past couple days if and let stress that this is a big if but if we do turn into a recession in this economy given the underlying fundamentals as politicians like to say we're strong right. The labor market strong consumers are really confident. What might a recovery look like on the other end of this thing depends entirely on epidemiology and None of us really have answers there so it really depends on how far this virus spreads if the viruses eventually contained and we have inappropriate policy response with some fiscal stimulus. You know a year from now the we might remember this entire experience but know we'll have forgotten about the economic implications of it traits. So it could just be transitive. We saw that. With the SARS virus for example. There is a big drop off in demand and then you know it picked up pretty immediately once the virus was contained. So that could be the case here but if it actually is spread further and is more deadly than of course we might not get a v-shaped recovery. It might be much more gradual and require more policy intervention Megan Green and economist. Also a senior fellow at the Harvard Kennedy School. Thanks a lot of really. Appreciate your time and your

China Megan Green Harvard Kennedy School Scott Tong Italy Opec Senior Fellow United States Apple Russia
What's causing volatility in the stock market?

Marketplace with Kai Ryssdal

02:17 min | 2 years ago

What's causing volatility in the stock market?

"Here is what I would like you to do today as we get going unfocused your eyes if you would figuratively of course like you do when you drop something or your pattern rug and how that can help you find what you're looking for. Do the same for me now. With the admittedly nutty stock market gyrations the past couple of weeks ups and downs of three or four five percent or more focused not on the actual movements but on the underlying phenomenon the volatility marketplace's got tongue explains why it's happening and what it tells us by one. Measure stocks have not been this volatile since the financial crisis a decade ago. Surely it's the fear of Corona virus but for traders addicted data. There's not enough of it. How long will the outbreak last are the Chinese factories back? How was hit company? Earnings at Charles Schwab one of our underwriters. Strategist Liz end. Sandra says many companies have gone silence. They're just saying we're not even giving guidance because we have no idea what is going to happen so in terms of how Wall Street kind of prices stocks and markets analysts. You know have their hands in the air. Then there's election year uncertainty as the market swings based on which candidate is up the moment now when markets struggled to predict the future. Which is their job. They gyrate according to George Perks. Bespoke investment group. He says it can go like this. When investors sell and expect the worst a little ray of hope can change everything if every piece of news is bad for awhile. Expectations come down and so now that expectations are down. It doesn't take much good news for everything flip in reverse often. It's consumer stocks doing the Bungee up and down. That's because consumption is the big unknown now says Scott Wren at the Wells Fargo Investment Institute. What are it's apparel devices online? Entertainment streaming if consumers are more willing to spend money on that because they're less fearful of catching the virus Then those who tended to do better mud finding specific causes of volatility only gets a so far. The market's a big complicated place. Study suggests long periods of calm somehow lead to volatility in the markets bounce up and down the more. They get driven by emotion. I'm Scott Tong for

George Perks Wells Fargo Investment Institu Scott Tong Charles Schwab Scott Wren Liz End Sandra
"scott tong" Discussed on KCRW

KCRW

03:15 min | 2 years ago

"scott tong" Discussed on KCRW

"On Chinese suppliers could speed up change I'm Scott Tong for marketplace your username USM even though we know better right buzz words lingo shorthand words and phrases like low hanging fruits monetize I hate that when even though yes I know we got to monetize stuff also my particular non favorite going forward that over because on roads in the Atlantic the other day about buzz words corporate and otherwise and why they bug us so much work in the program thanks for having me so those are mine what did you get when you reached out on Twitter what people really hate people really hate capacity at risk when you're talking about people root cause optics you can probably fill in the rest everybody's got the list why do these words bug us so much because Lordy they do well there's like a couple different theories right one of them is just that they're annoying because we kind of find the tasks that are associated with them annoying so circling back and touching base is kind of interlinked with having to you know follow up on some tedious things that you really don't want to be thinking about anymore but never the less you have to track down so it's sort of just linked in your mind with these annoying business tasks or are we protecting ourselves a second what's going on yeah so in some cases you know they're kind of useful when you're trying to make something sound a little bit better than than it actually is so things like you know optics sounds better than like this might look bad otherwise you know so it's in some cases yeah you're you're kind of dressing up something that otherwise a little bit unseemly so there is a line in here and and the shipping fund it it's the fact that so many people aligned buzzer suggests that work and its language is a kind of pretense and speaking the language of work reminds people that they are pretending which reminded me of something RuPaul said to me on this program he said oh honey everything is drag rights or just dress it up sort of I mean so one of the researchers the way they put it to me is that you know it's sort of like pretending to be an adult and so you're you're using these words that you normally wouldn't use you would never you know that if they're not real words but you're kind of at work you're pretending to be an adult and so you're you're saying things like root cause and growth hacking you know because you feel like you should so there's that we're just not gonna stop right because it's it's a it's a mechanism for us yeah I mean it's it can be useful for some people especially you know if you need to relate to someone in in your same office and you can it's kind of a short handed some cases obviously makes you look good to the boss if you speak the language that your boss made up for you speak so you know it's that most people are probably going to continue using these even if they find them a little bit annoying we certainly will R. hit me up on Twitter I'm AT tie results tell me what you need to hear and we'll give you know the list maybe in a couple of days all the has on writing in the Atlantic about the buzz words we we love and hate all same time.

Scott Tong
Apple warns on revenue guidance due to production delays in China because of coronavirus

Marketplace with Kai Ryssdal

02:00 min | 2 years ago

Apple warns on revenue guidance due to production delays in China because of coronavirus

"Apple has let it be known. It's not going to make its earnings numbers. This quarter. Because it's mostly china-based supply chain has been slower to bounce back than the company had been guessing. Nintendo is worried as well. Nissan and Hyundai have closed down entire car plants. Because they can't get the parts they need from China. And the longer this goes the more these shortages become a big deal which gets us and marketplace's Scott Tong to the phrase that is on a whole lot of people's lips supply shock every day. Four million smartphones get sold somewhere in the world half a million. Tv's changed hands. So what happens if the supply of saw for for a long enough time economists? Carmen reinhart teaches at Harvard's Kennedy School of Government. The way supply shocks work is they have a negative effect on quantity and a positive effect on price. The most notorious of the supply shocks of course was the oil shock. Goes the seventies the oil embargo against the US quadruple? Desperate and fuelled hyper inflation now. Hardly anyone expects that kind of impact at least for now but cornell economist. Issoire things price tags could go up for certain products namely Electron IX cell phones and other wireless devices as well as TVs computers. Those sorts of things that are almost certainly going to be affected if the epidemic last into the spring there could be a longer term supply shock multinational firms could revamp their supply chains away from China which could raise costs and prices for all kinds of things. Agathe Demery forecaster at the economist. Intelligence unit is watching closely. We don't see any signs at the moment that Western companies are going to go out of China that being said if the outbreak is not contained by end March it will be much more difficult to address for global companies. Demery is monitoring ships leaving Chinese ports. Right now she says some are just ten percent full. I'm Scott Tong for

Scott Tong China Carmen Reinhart Agathe Demery Apple Nintendo Cornell Electron Ix Hyundai United States Nissan Kennedy School Of Government Forecaster Harvard
"scott tong" Discussed on 90.3 KAZU

90.3 KAZU

03:13 min | 2 years ago

"scott tong" Discussed on 90.3 KAZU

"Still rising I'm Scott Tong for market place of the many things in this digital economy that make you go no no surely up there on that list is somebody going into your home whether you're there or not and dropping off your groceries not just dropping off the putting away to but there is a market for everything of course and that is why last fall Walmart rolled out its in home grocery delivery service described as above in the never ending fight to stay ahead of Amazon and whole foods from W. E. essay in Pittsburgh Kathleen Davis road along on a delivery to see how it works Nick Burmester is hauling boxes full of groceries out of one of Walmart's branded in home cars he's dressed in the company's blue delivery uniform or outside a house in suburban Pittsburgh the customers are at home but their dog is right so this one says garage for your location garage and then there is passed that's why she picked the garage Burmester put surgical booties over his tennis shoes and turns on a small camera that's strapped to his chest the camera is sink to the garage door lock through Walmart's in home master has to turn it on before he can go inside it live streams him putting those groceries where they belong milk and fresh food in the fridge apple sauce and paper plates in bags nearby he turns the camera off when he's back outside one perfect right now at Walmart is offering in home delivery in just three cities Pittsburg Kansas city and vero beach Florida the company won't say how many customers are using the service so far but Whitney pegged them with the in home team it says the company is happy with the results so I think a lot of the things are seeing our really good teasers what's to come but also could shift pretty dramatically as we scale Walmart says it will expand the in home program but isn't sharing details about when or where that will be Natalie got lives in a Pittsburgh suburb and has been an in home customer since late last year she has two kids and recently started working again which doesn't leave a lot of time for grocery shopping she says at first she was hesitant to try a delivery service but the more we learn about it there's a lot of safeguards to and you know people into your home and they they live streaming video and people are background checked and so once I realized all those boxes retract the hesitation went away now she uses it once a week groceries cost the same as in store Walmart charges customers fifty dollars to install a smart lock on their doors and an in home membership is close to twenty dollars per month with the first month free got says the cost of the service is worth the convenience it has cut down a lot on the impulse buying so I'm if I'm shopping in the store like normal I would see something that's on sale or I'm hungry in something sounds good so I don't do that as much as I'm just shopping on my phone and I'm just following my last Walmart isn't the only company that delivers gross.

Scott Tong
Oil Prices Slide Into Bear Market on Coronavirus Concern

Marketplace with Kai Ryssdal

03:03 min | 2 years ago

Oil Prices Slide Into Bear Market on Coronavirus Concern

"Are chosen in point of entry to the global economy story of the day today. The spread of and the uncertainty about the corona virus comes to us from the commodities markets oil specifically specifically the global benchmark Brent North Sea. It's called fell another two and a half percent today down twenty two percent just since the beginning of the a year. The supply demand equation on that goes like this. China is the world's biggest oil importer and as the bad virus. News continued over the weekend. People began to realize the Chinese demand could be cratering which since oil is a global commodity means not great things globally. Perhaps even more telling though is this. There is buzz today about OPEC and Russia calling an emergency meeting to talk over a huge cut in oil supply to prevent a free fall in prices from Washington. Marketplace's Scott Tong. Its is going oil. Traders already knew that driving an air travel and China had fallen off. They knew that. Oil Shipments China. We're being resold elsewhere. Then head-spinning head-spinning Bloomberg News report on China's falling demand. Situation Says Ellen Wall that transversal consulting one of the things that hit the market this morning. Was this report that Chinese demand maybe down as much as three million barrels of oil per day if true that would be a huge and sudden drop off for China enough to tumble prices at that point were came that OPEC and Russia were considering an emergency meeting next week to cut supply up to one million barrels per day and bring supply lie closer to demand. Normally you'd hear news of million barrel-per-day cut and oil prices would go up. Didn't happen nervous. Traders are selling oil oil contracts. I and asking questions later says research director Michael Herbert at the National Bureau of Asian Research. He says official data on China won't come out for a month. Maybe three Chinese oil demand. Statistics are a little fuzzy much more opaque than say the US market European now where this viruses viruses evolving so quickly. We're all in a lot of ways in the dark when the numbers do come. Markets may come down a bit. But there's still a big unknown. Says is Roger De wine at IHS market and that's how long the Chinese slow-down will last and nothing is that part which is a right now. Fraying nerves in the market doc. We don't have some other week another four weeks six weeks which leaves a lot of time for potential panic. Some banks suggest a barrel of crude oil could fall to around forty eighty dollars and that translates into. US Gas prices going from an average two fifty a gallon. Two two dollars flat. I'm Scott Tong for marketplace. We'll get to American stock markets in a bid. But it's worth a note here coming out of Scott's piece that when Chinese stocks opening day for the first time since things got bad over there they promptly fell almost to what's known as Limit Down Circuit. Breakers that stop a runaway decline or run away on the upside to in different circumstances anyway. The main Shanghai index is down almost eight eight percent on the day to

China Scott Tong Opec Russia United States Brent North Sea Bloomberg National Bureau Of Asian Resea Washington Ellen Wall Michael Herbert Roger De Research Director
Is there a way to use facial recognition that isnt a dystopian nightmare?

Marketplace Tech with Molly Wood

03:08 min | 2 years ago

Is there a way to use facial recognition that isnt a dystopian nightmare?

"This week. We're talking with marketplace reporters about what tech topics. They're watching on their beats as we look ahead to twenty twenty one issue. We can expect to be in the news. A lot is facial recognition in two thousand nineteen San Francisco Band police and public agencies from using it over civil rights fears But it's become widespread in China where it's used for daily surveillance and to track and detain the minority Muslim population there known as the workers. Marketplace's marketplace's Scott. Tong was based in China for years. He's now in our Washington DC bureau. And he's been tracking facial recognition tech in China and here in the US. And I asked him if China I know represents a worst case example of how this can be misused. You know China can be a pretty opaque place but this is what we know about how this technology is being used in western China. The the province of Xinjiang were the most of the week. It's connected to a centralized database so it's used to trap people it's used as a digital dole tether so if you go say three hundred yards away from where you're going at the technology knows that this facial recognition technology knows that So it sure seems like this technology could be used in these camps right to make sure people don't go very far away from where they're supposed to be and that is you know as we said. That is the nightmare scenario. It's it's also a scenario that people a lot of people immediately go to San Francisco has already essentially said no way. Can you deploy this technology on the streets of an American city. But I mean clearly. There are uses for this. That don't involve US living in an Orwellian nightmare right. Like what are the most promising uses of the technology that don't involve a civil rights. Violation law enforcement says this can be used to find missing people missing children if you have them into database and people are walking in by it can find those people The police in the state of Maryland used this. There was a shooting at a newspaper. The Capital Gazette in Annapolis Maryland and the police use use the image from the security camera and compared it to millions and millions of photos of known offenders and then. FBI Database and the driver's license licensed database and they were able to identify the suspected shooter. There was a shooting at a mall in Nairobi several years ago attributed to this extremist group. And now this mall has this. This technology and proponents say that the incidence of crime have gone way down so yes public security and governments. I think are at the center of of this technology story but as proponents put it it surely can be used in a lot of ways that helps society to your knowledge. Is there regulation around the use use in the US other than San Francisco at a national level. I don't think there is because we do know that Microsoft and other companies have have come to Washington and

China San Francisco Tong United States Washington FBI Xinjiang Microsoft Capital Gazette Maryland Annapolis Maryland Nairobi
Exxon, New York prosecutors face off in climate change fraud trial

Morning Edition

02:26 min | 2 years ago

Exxon, New York prosecutors face off in climate change fraud trial

"I'm David Brancaccio in New York and Exxon Mobil trials at the start of New York today has to do with climate change but maybe not in the way that you might think the state of New York argues Exxon defrauded its investors misleading them about the value of the stock by telling them one thing and perhaps doing another from the market places than ability desk Scott Tong has this preview the accusation is Exxon Mobil use two sets of books on climate change and its risk the plaintiff the Attorney General of New York argues that the company told investors that it's all a future with lots of carbon regulations and cost to the company David Shapiro at the John Jay college of criminal justice says that sent a certain message to Exxon stockholders they would say Hey Exxon is accounting for what we anticipate is going to be a dramatic change in how governments approach climate risk in other words Exxon was clear eyed about taxes and regulations on fossil fuel use but in private the plaintiff says the company's actions were altogether different the internal reports effectively is safe well we don't anticipate much in the way of additional costs based on a climate risk regulation the problem with that as the argument goes is Exxon Mobil made oil and gas decisions that were too risky and hid it from investors but Exxon Mobil calls that a baseless theory and then it used to different cost assumptions because they're apples and oranges it makes sense to marched ocal CEO of Adam's funds which holds Exxon stock one you've got actual hard cost you can actually consider the second is a bunch of assumptions you have to make on demand many years down the road I'm not sure that's fraud he says analysts who follow Exxon aren't even talking about this case and if the company were to lose the amount would be negligible but litigation analyst Brandon Barnes of Bloomberg intelligence the state attorneys general and others bringing energy and climate lawsuits see today's case much differently I think it's part of a much broader effort to figure out a way to address climate change when there's a perception that the federal government is moving fast enough the Exxon Mobil trial could provide drama in the form of emails a pretrial investigation found that rex teller sin who was CEO for the period in this case used to email addresses at work one under his name one under an alias the company says the second email was created for quote secure communications I'm Scott Tong for

David Brancaccio New York Exxon Mobil Exxon Scott Tong David Shapiro John Jay College CEO Adam Fraud Brandon Barnes Federal Government Attorney Analyst Bloomberg
"scott tong" Discussed on KCRW

KCRW

02:04 min | 3 years ago

"scott tong" Discussed on KCRW

"Which B. Y. de sac con replies the wait is no ability to pull data off our bus remotely once our buses are delivered to our customers all the data that's on those buses are our customers data we have no access to it and he says the company's not very Chinese it's not state owned it's publicly traded and Warren Buffett's Berkshire Hathaway is a big investor no one has pointed to any evidence of any wrongdoing by people ID obviously there's bigger issues going on between China and the U. S. but you ideas come to this country and followed all the rules of the road we ran a cyber bus question by Stanford's Integrado here in cyber security for the Obama and the trump white houses he says public transport has been hacked before in Poland a fourteen year old techy once took remote control of a public tram if you've ever been on a train or a bus where it stops and starts and how jarring that could be when the legitimate driver's control match and how dangerous that could be if a malicious actor were to get a hold of it but he says any bus from any company not just a Chinese one is vulnerable really any bus coming off the assembly line these days he was gonna have cyber security risk associated with it that risk exists regardless of where in the world the bus was manufactured that may be true but this is a China moments official Washington has stated bipartisan suspicion of Chinese policies companies technologies and scientists this Chinese bus band has support from the Senate the White House and be why these competitors it's attached to a spending bill that passes every year. I'm Scott Tong the marketplace. final note on the way out today.

Berkshire Hathaway Obama China Warren Buffett White House Senate Scott Tong Stanford Poland B. Y. official Washington fourteen year
Oil Prices Close 15% Higher On Record Trading Day Due To Risk Premium

Marketplace with Kai Ryssdal

02:06 min | 3 years ago

Oil Prices Close 15% Higher On Record Trading Day Due To Risk Premium

"Will do oil. I I guess because because both the US benchmark West Texas intermediate it's called and the global indicator known as Brent crude ended the day up just shy of fifteen percent but here's the deal there is plenty of oil on the shelves as it were Saudi. Arabia has got some the US and other countries have their own reserves. There is supply to meet demand demand those higher prices then reflect something that maybe we ought to get used to talk about in global energy markets. Something called the risk premium from Washington marketplace's marketplace's. Scott Tong gets is going to some analysts oil buyers and sellers have been kind of asleep to energy risks in the Middle East in the past month tankers were attacked and pipelines pipelines were struck not much reaction until Saturday strike in Saudi Arabia says Halima Croft at RBC capital markets the market was very complacent place it about the degree of risk in this standoff involving Iran and the US allies and the RIM now. I almost cannot say how serious ethicist Saturday's apparently surgical strike on this essential artery creates one of the biggest disruptions ever to world supply jean-francois says neck at the Atlantic Council Council think tank says the attack warns oil markets that whoever targeted this fortified facility could hit it again the three different rings of defence and Al Qaeda never managed to past the first one I would imagine and that's the big surprises that they would be protected by Patriot missiles and they have not another risk is how long the Saudi facilities stays off line for the next three or four weeks. There's plenty in reserve but for a world that drinks one hundred million barrels of oil every day that cushion could go quickly says Jacques Rousseau at clearview energy partners. You know if this starts to drag into next year the world will have taken down their inventories. He's very substantially if world supply is still short then oil pump prices could double by some estimates and that's the new risk built into the higher price of oil what some call the Gulf premium on Scott Tong for

United States Saudi Arabia Rbc Capital Markets Scott Tong Jacques Rousseau Arabia Atlantic Council Council Halima Croft West Texas Brent Washington Middle East Iran RIM One Hundred Million Barrels
Oil prices fall on weak global economic data

Morning Edition

02:18 min | 3 years ago

Oil prices fall on weak global economic data

"Later this week the oil producers cartel OPEC issues a monthly assessment the price of oil today is down three point six percent on the bet that a slower world economy will use less oil market places Katong has more what a difference four months makes in the oil market back in April the world fear they didn't have enough oil could producer Venezuela was falling apart in Iran's exports were being sanctioned this sense at the end of April that OPEC might need to put more brought on the market the channels to Lima Crofton RBC capital markets then she says a tweet in may a president trump up the tariffs on China suggesting economic pain there China has been such a big buyer in the first half of the year and there was a real concern that if Chinese buying flows at the real killer that was holding up this oil market is going to collapse will has dropped from nearly ninety dollars a barrel last fall to fifty something today in OPEC is nervous already it is joined forces with Russia to cut supply in trying to boost price but the price hasn't cooperated so now everyone is watching OPEC's de facto leader Saudi Arabia says Fuhrman **** and S. and P. global plats there doesn't seem to be much appetite for deepening the amount of cuts so the question is with Saudi Arabia go it alone when they cut unilaterally that's what we really don't know if the Saudis drill less they would sell less so that hurts and there's no guarantee that the price of rice because U. S. shale oil from fracking could fill the gap in supply analysts Jamie Webster is with the Boston consulting group this is not just from U. S. shale this is from Norway this is from Brazil several other countries that are going to be bringing on additional supply my his numbers world supply will grow twice as fast as demand next year and he says low prices may be a longer term problem over the next decade companies are getting much faster it bringing on supply projects you see costs have come down you've got concerns about that long term demand growth it's a complicated oil market with new technology new sellers a lot of crude out there and for sellers like OPEC a question of whether there are enough buyers I'm Scott Tong for

Jamie Webster U. S. Boston Fuhrman President Trump Producer Scott Tong Brazil Norway Saudi Arabia Russia China Lima Crofton Rbc Capital Marke Opec Iran Venezuela Katong Ninety Dollars Four Months
Oil prices fall on weak global economic data

Morning Edition

02:37 min | 3 years ago

Oil prices fall on weak global economic data

"It is a down day for the oil market benchmark crude in New York down one point six percent fifty six twenty one a barrel is the contraction of the German economy just mention in concern about China's economy for both its own internal reasons and the US China trade war there was news today that unemployment in Chinese cities at the highest level since officials started tracking this data up later this week the oil producers cartel OPEC issues a monthly assessment market place's Scott Tom reports now on what is an energy source a commodity and economic indicator what a difference four months makes in the oil market back in April the world fear they didn't have enough oil could producer Venezuela was falling apart in Iran's exports were being sanctioned this sense at the end of April that OPEC might need to put more brought on the market the channels to Lima Crofton RBC capital markets then she says a tweet in may president trump up the tariffs on China suggesting economic pain there China has been such a big buyer in the first half of the year and there was a real concern that if Chinese buying flows at the real hell or that was holding up this oil market is going to collapse will has dropped from nearly ninety dollars a barrel last fall to fifty something today in OPEC is nervous already it is joined forces with Russia to cut supply in trying to boost price but the price hasn't cooperated so now everyone is watching OPEC's de facto leader Saudi Arabia says Fuhrman **** and S. and P. global plaques there doesn't seem to be much appetite for deepening the amount of cuts so the question is with Saudi Arabia go it alone when they cut unilaterally that's what we really don't know if the Saudis drill less they would sell less so that hurts and there's no guarantee that the price of rice because U. S. shale oil from fracking could fill the gap in supply analysts Jamie Webster is with the Boston consulting group this is not just from U. S. shale this is from Norway this is from Brazil several other countries that are going to be bringing on additional supply my his numbers world supply will grow twice as fast as demand next year and he says low prices may be a longer term problem over the next decade companies are getting much faster bringing on supply projects you see costs have come down you've got concerns about that long term demand growth it's a complicated oil market with new technology new sellers a lot of crude out there and for sellers like OPEC a question of whether there are enough buyers I'm Scott Tong for market

Saudi Arabia U. S. Boston Fuhrman President Trump Producer Scott Tong Brazil Norway Jamie Webster New York Russia Lima Crofton Rbc Capital Marke Opec Iran Venezuela Scott Tom China
"scott tong" Discussed on 90.3 KAZU

90.3 KAZU

05:17 min | 3 years ago

"scott tong" Discussed on 90.3 KAZU

"Be in the money I'm Scott Tong for marketplace blackjack players among you will know the term counting cards for those who don't play it's a way by literally counting the values of cards that are dealt the players can know when the odds are in their favor and thus when it's time to bed big Black Jack is the world into which our podcast this is uncomfortable Texas this week because rumor Crace has the story of rose Travis who joined a card counting team and started seeing money in a whole new light rose's first big break with card counting came unexpectedly it was the early two thousands she was a graduate student and she built up a bankroll of about ten thousand dollars to invest in Black Jack one weekend she was on a four person team headed Torino when our main big player suddenly couldn't play I don't know if there was a flyer out with his picture on it but he was kicked out immediately so she stepped up this is my first time being the big player being the big player means waiting from signals from her teammates that the count is good and then coming in and laying down big bats the team rarely had women play this role they just drew more scrutiny rose knew that she'd get a lot of questions like where are you from or where is your boyfriend it's just not as common to see women betting thousands of dollars the Black Jack tables so rose came up with the plan she bat and her to make cliff would pose as her boyfriend he'll be handing me money and I'd be playing as a maybe that would look a little bit less strain but all those things and so and so we came up with this kind of that I was this kind of while drunk like party girl and I hate yeah and I had this cowboy hat that I was wearing rose and her team which was made up of people with regular jobs you know attorneys accountants they'd often come up with different personas card counting is an illegal but if casinos catch you you can get kicked out so it was three in the morning and rose along with three for teammates trickled into the casino ready to play there's like tumbleweeds the casino she sat down with her fake boyfriend and waited to get signals from other teammates once she did she started causing a scene chatting up other players laying down huge hands and when you annoy people it's great because then they leave the table and it's better for your odds when you have less people at the table so this is celebrate said they got the goal is to annoy people I was you know taking off my hat and swing it around asking you know who's going to be drinking with me you know do you want to bring drinks are on me even the drinks are free cliff was playing the role of the frustrated enabler you know you can't it's kind of tapping me on the shoulder like let's leave now and that was the whole dynamic that we had come up with meanwhile rose only got more obnoxious lifting up from her seat to Downing tropical mock tales you know can be drunk on the job and shouting for free stuff we need a room with a hot tub and you know what I need some a bottle of crystal it seems crazy to me that they'd intentionally draw all this attention to themselves but rose says it's kind of like reverse psychology they can be less conspicuous to be a hot mess than a focus player roses playing big hands five hundred dollars two thousand dollars in it was just a win after win after win it was scary because I hadn't I just hadn't dealt with like that much the actual cash before it in my hands counting cards had changed how she thought of money like she'd never in a million years by a thousand dollar dress but cheap easily back that much in a single hand you have to kind of distance yourself between the value of money and what you're doing with the money in the casino because if you if you look at it as well this is five thousand dollars like what can I do with this five thousand dollars in my life right and I found that you're treating it like monopoly money yeah it has to be I mean in a way it is it's like when it turns into chips it's not money and which is part of the game it's part of the game yeah sitting at the table rose could also tune out her student loan debt her credit card bills what her bank account actually looked like money at the casino gave her an escape even if it was only temporary I am a misplaced for marketplaces new podcast this is uncomfortable check out the new episode of this is uncomfortable to hear more of roses story in which case you know trip took a turn for the worst a final note on the way out in which Starbucks to abandons print newspapers the company said this week it's gonna stop selling hard copy papers in the eighty six hundred stores it owns and operates in the United States that would be the New York times Wall Street journal and USA today end of August is the cut off date if your hard copy coffee drinking kind of person.

Scott Tong five thousand dollars five hundred dollars ten thousand dollars two thousand dollars thousand dollar million years
"scott tong" Discussed on KCRW

KCRW

04:28 min | 3 years ago

"scott tong" Discussed on KCRW

"In the money I'm Scott Tong for marketplace blackjack players among you will know the term counting cards for those who don't play it's a way by literally counting the values of cards that are dealt that players can know when the odds are in their favor and thus when it's time to bet big Black Jack is the world into which our podcast this is uncomfortable Texas this week host rima craze has the story of rose Travis who joined a card counting team and started seeing money in a whole new light rose's first big break with card counting came unexpectedly it was the early two thousands she was a graduate student and she built up a bankroll of about ten thousand dollars to invest in Black Jack one weekend she was on a four person team headed Torino when our main big player suddenly couldn't play I don't know if there was a flyer out with his picture on it but he was kicked out immediately so she stepped up this is my first time being the big player being the big player means waiting from signals from her teammates that the count is good and then coming in and laying down big bats the team rarely had women play this role they just drew more scrutiny rose knew that should get a lot of questions like where are you from or where is your boyfriend it's just not as common to see women betting thousands of dollars the Black Jack tables so rose came up with a plan she backed and her to make cliff would pose as her boyfriend he'll be handing me money and ivy play and so maybe that would look a little bit less strain that's all those things yeah and so and so we came up with this kind of that I was this kind of while drunk like party girl and I hate yeah and I had this cowboy hat that I was wearing rose and her team which was made up of people with regular jobs you know attorneys accountants they'd often come up with different personas card counting is an illegal but if casinos catch you you can get kicked out so it was three in the morning and rose along with three for teammates trickled into the casino ready to play there's like tumbleweeds that's the casino she sat down with her fake boyfriend and waited to get signals from other teammates once she did she started causing a scene chatting up other players laying down huge hands and when you annoy people it's great because then they leave the table and it's better for your odds when you have less people at the table so this is celebrates a goal the goal is to annoy people I was you know taking off my hat and swing it around asking you know who's going to be drinking with me you know do you want to Frank drinks are on me even the drinks are free cliff was playing the role of the frustrated in a blur you know you can't it's kind of tapping me on the shoulder like let's leave now and that was the whole dynamic that we had come up with meanwhile rose only got more obnoxious lifting up from her seat to Downing tropical mock tales you know can be drunk on the job and shouting for free stuff we need a room with a hot tub and you know what I need some a bottle of crystal it seems crazy to me that they'd intentionally draw all this attention to themselves but rose says it's kind of like reverse psychology they can be less conspicuous to be a hot mess than a focus player roses playing big hands five hundred dollars two thousand dollars in it was just win after win after win it was scary because I hadn't I just hadn't dealt with like that much actual cash before it in my hands counting cards had changed how she thought of money like she'd never in a million years by a thousand dollar dress but she'd easily bat that much in a single hand you have to kind of distance yourself between the value of money and what you're doing with the money and the casino because if you if you look at it as well this is five thousand dollars like what can I do with this five thousand dollars in my life right and I found that you're treating it like monopoly money yeah it has to be I mean in a way it is it's like when it turns into chips it's not money and which is part of the game it's part of the game yeah sitting at the table rose could also tune out her student loan debt her credit card bills what her bank account actually looked like money at the casino gave her an escape even.

Scott Tong five thousand dollars five hundred dollars ten thousand dollars two thousand dollars thousand dollar million years
By blacklisting Huawei, the US could be shooting itself in the foot

Marketplace with Kai Ryssdal

07:53 min | 3 years ago

By blacklisting Huawei, the US could be shooting itself in the foot

"There's an interesting observation to be made here about the global economy, things that usually happened really, really slowly. Until they happen. Really, really fast. Oh, explain from American public media. This is marketplace. In Los Angeles. I'm KAI Ryssdal. It is Thursday. Today, the sixteenth of mega is always to have you along, everybody. We begin today with this ten days ago, Amir week and a half. Every indication was that the trade mad disagreements between the United States and China were all but solved couple more meetings, a quick Trump's, she phone call done and done. Now. It's tariffs as far as the I can see. And as of yesterday quite possibly a breakdown in the heavily, integrated and extremely globalized technology supply chain, we refer here, of course, to the Trump administration, effectively blacklisting, the Chinese technology, giant hallway, which will cut that company off from its American suppliers, chips, from Qualcomm and phone software from Google to name. Just a couple. You're all that in with bands on while way in other countries. And as marketplace's Scott Tong reports now from Washington, there does seem to be something of a digital iron curtain descending if the US shoe. Hallway, it also hits its own foot inside while we gadgets are innards from firms, like Intel, oracle and Western Digital but tech firms sensing the crossfire are trying to get out of the way and avoid partnering with companies subject to bands in retaliation says Linley Gwen app of the Linley group. I think that companies are trying to reduce their exposure to the band, and by fewer components from countries that could be affected the word decoupling is being whispered in the US and China that is each country may develop its own separate supply, chain, while we has long been on Washington's hitlist and is trying to make parts semiconductors in house. Business professor at ten Wong judge young university has a new book on wall way. He says the company can be self sufficient that can make it south. Maybe he's not as good as the US components, but it's not much worse. They still can't sell products so that prepare for these more than ten years, while ways, DIY project. Could accelerate Chinese innovation? And in areas like wireless, five G many see hallway as already ahead. So the US might not want to cut itself off says, political scientists Abraham Newman at Georgetown, France in the nineteen eighties tried to develop its own internet, and it was kind of ridiculous, and the risk is that we end up with a new version of that a lesser. They un-filed g network. He says the US is weaponising interdependence and could unravel a global tech supply chain that took a generation to come together. I'm Scott Tong for marketplace. You can argue till the cows come home about tariffs who wins who loses who pays wait. No, you can't consumers pay and nobody wins. But there is at least one agreed upon reality. When it comes to what tariffs due to an economy, the way things normally work don't work anymore. Marketplace's refinish your explains that one I don't know if you've ever grown plants in a terrarium they love it in there because they're protect. But when you take them, out and expose them to the outside world, they don't always do out there, not strong. It breeds a kind of laziness here Simon Lester is with the Cato Institute and he's not talking about terrariums. He's talking about tariffs tariffs that protect some US businesses from foreign competition. You don't have to compete with the best in the world, just sort of relax. You don't have to work that hard, you're not gonna face any competition. US steel companies, for example, don't face as much pressure to upgrade plants now they can in our raising prices without competition from foreign steel producers. Ultimately, I think if you want to sessile businesses, you want them competing in order to, you know me as a fishing has possible Chinese goods. Don't usually compete with US goods head on. We don't make a lot of the same stuff, but many goods that are made in America are made with Chinese parts tariffs. Make those parts more expensive Tim Keough teaches economics at the university of Minnesota gonna make things to the US shell the rest of the world. Be more expensive than we're gonna lose market share because of that. But the. Disadvantages go beyond that, take the tariffs on steel aluminum. The metal that would be going into the US now goes to global markets increasing supply and depressing prices outside the US Rufus York's is president of the national Foreign Trade Council. Many of my manufacturers say that this has a direct impact on their competitiveness. Not only because their costs go up, but actually their foreign competitors costs. Go down your says the morn industries protected the less productive, it's likely to become in New York. I'm Sabrina sure for marketplace. In higher education news on this Thursday, three much reviled letters. S A N, t the college board purveyor of the aforementioned exam is adding a new score to it math, reading, and writing the optional essay and now adversity as in the hurdles like neighborhood crime, and poverty, that students might have dealt with getting into college. It's yet another attempt by the college board to keep its core product, the SAT, relevant as the idea. Of who gets in wear gets more attention. Marketplace's Amy Scott has more on that when Scott vers, I'll was weighing student applications. This college admission season he had another tool to consider. He's dean of undergraduate admissions at the university of South Carolina, along with grades and essays and test scores and environmental context. Dashboard. Offer details like family and housing stability access to AP classes and neighborhood poverty, and crime. And that did help us find some students that we would probably would otherwise not considered the university was one of fifty testing out the dashboard. This year, the college board will roll it out to all schools next year, and it'll be free, but SAT critic Robert Shafer with fair test says it's a business move with selective colleges under pressure to admit more students of color and low income students. More of them are making standardized tests. Optional people have long known that head scores were a excellent. Mega of accumulated advantage. And now, the college board is going to admit it by thing. You can't use raw scores. You have to examine them in context. The college board has tried something like this, in the past in the late nineteen nineties, it's so-called strivers program aimed to take socioeconomic factors including race into account. But Shaffer says critics accused the college board of back door affirmative action, and the program was dropped Tiffany Jones directs higher, Ed policy at the education trust advocacy group. She says the dashboard doesn't include race without looking at race explicitly. It's very difficult to try to account for racial inequality. Students also won't know their scores adding another layer of mystery to the college admissions process. I'm Amy Scott for marketplace. There was a fairly brief, but all important announcement from Boeing today, a quick four paragraphs, the first sentence of which read Boeing has completed development of the updated software for the seven. Thirty seven max, which is big the company says it's working with the FAA to get the planes back in the air. Investors were reassured Boeing shares up two point three percent day. The broader markets up as well. Not as much though. We'll have the details when we do the numbers.

United States Scott Tong Amy Scott Kai Ryssdal Los Angeles Boeing China FAA Qualcomm Amir University Of Minnesota New York Google Cato Institute Abraham Newman Intel Linley Gwen America
Is the trade war the new normal?

Marketplace with Kai Ryssdal

02:13 min | 3 years ago

Is the trade war the new normal?

"Trump is downplaying trade tensions with China after Beijing announced higher tariffs on US imports and response to those just imposed by Washington on Chinese goods. Trump said today, he'll meet with Chinese president Xi Jingping next month and expects the talks to be very fruitful markets, though, not so sure China's currency fell to its lowest level since Christmas here in the US. Stocks were down. Remember markets. Do go down, but beyond the short term pain. There's now talk that a tense U S, China relationship could be the new normal or at least the emerging normal. Marketplace's Scott Tong has more when terrorist broke out last fall business professor Aroon soon garage in at NYU predicted. It would last at expected the effects of. This trade water gonna lost at least ten years. Wow. That's based on game theory away to test and understand human behavior. Now, according to game theory tariffs are the normal state of things they serve the self interest of people and nations, and when you're in a trade war. He said today, it gets harder and harder to de escalate it is more likely to happen. If there is a high level of trust between the two countries. And this is what makes me a little pessimistic. These days there's a broad lack of trust says, former U S, China trade negotiator, Claire read at Arnold and porter. There are spats over telecom investments spying, but at the center, she says is China's tech policy pours laughs of government resources into selected strategic industries and really has been quite consistent about keeping their market closed to protect any other growing, national champions. She says she doesn't expect China to change which makes the US China trade conflict, potentially. Intractable and for those longing for the quote, normal days of free trade think again says Harvard government professor Jeffrey freidan, globalization is fragile and it is not the normal and natural state of the world. It's something that is typically adopted by governments and it can be rolled back by governments very easily. If along trade wars ahead, it wouldn't be the first time. He says the US had high tariffs from the civil war all the way to the nineteen

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Trump's Latest Oil Market Gamble

Marketplace with Kai Ryssdal

02:21 min | 3 years ago

Trump's Latest Oil Market Gamble

"We begin today with commodities oil, specifically to note that crude oil rose three percent today on news. The White House is cracking down on Iranian oil sales for a year. Now, the Trump administration has slowly been squeezing off Tehran's access to the global oil market threatening sanctions on countries that by Iranian crude, even US allies effective nine days from now the White House is going to stop giving waivers even to those allies, and it turned out oil markets were not expecting an actual no tolerance policy from the Trump administration. Marketplace Scott Tong, it's going crude oil rose two bucks today to its highest level of the year, which is market speak for. Whoa. I think everybody has been surprised. Yes. And kind of shock that's Iran, Oil consultant, Sarah shui at s v energy international. Traders aren't just worried that cutting off Iranian oil will crimp world supply. She says they're also spooked by Tehran's response. Iran threatened that if their export britches two zero they're going to close straight of her moose. They might Trittin tankers with missiles or at threat of attack on the energy facilities in the neighboring countries. So the talk is tougher the State Department calls this maximum pressure on Ron six months after applying gentler kinder pressure, and allowing exports to eight countries, but today's zero tolerance may be hard to enforce analyst Stephen Schork thinks some Iranian oil will keep leaking out to China and India at a cut price Iran now becomes desperate seller. What does that mean that means that they're going to have to take whatever price China and India are willing to pay for the oil any Iran? Oil that leaves the market could get replaced by Saudi Arabia still that least precious spare oil in the market for surprise shocks in say, Libya or Venezuela and that nervousness means higher oil and gas prices says Tom closer at oil price information service. The game has changed for gasoline prices in the summer driving season, you're putting three dollars in play for places like Michigan, Pennsylvania for sure Wisconsin. In fact, pump prices are already approaching three bucks in those places. But that's a psychological line. For drivers in swing states close a says, and if it's crossed he expects the administration to go a little softer on Iranian oil. Once again,

Iran White House Tehran Trump Administration Scott Tong Trittin India United States China Saudi Arabia State Department Consultant Stephen Schork
"scott tong" Discussed on KQED Radio

KQED Radio

03:37 min | 3 years ago

"scott tong" Discussed on KQED Radio

"In Los Angeles. I'm KAI Rozelle Wednesday the thirtieth of January good as always to have your long everybody. High tech in our lives. Whether we know it or not coming up a bit later in the program, but first Mark your calendars gang because today is the day. The Federal Reserve said, yeah, we are pretty much done raising interest rates for a while the interest rate setting Federal Open Market committee, wrapped up a two day meeting today left rates where they are, of course, and more to the point said in its policy statement after the meeting that it will be patient as it thinks about what to do next. I've talked before I think about how each and every word in effect statement has meaning that patient right there at is like slamming on the brakes might even lower interest rates, depending on how things go among the things that chair Powell and the gang at the FOMC are concerned about is the US China trade relationship, which gets us up constitution avenue just a little bit. And around the corner to the White House and the treasury department where Chinese American negotiators are meeting finding common. Ground isn't going to be easy. I mean, the Trump. Administration could lower tariffs in exchange for China taking more of our fossil fuels and our soybeans. But there is some real downside risk because the White House wants China to undo part of the structure of its economy rules that favor Chinese companies at home, and if negotiations do happen come on stuck, well, then what happens from Washington, marketplace's Scott Tong has that one many expect a US China deal. But let's count the ways the talks could fall apart. China could keep too many doors close to American companies the US could ask for too many concessions were implementation could collapse if there's no deal US tariff is scheduled to double in March on two hundred billion dollars of Chinese imports. Notably tech goods like the phones says economist, Mary lovely at Syracuse it falls heavily on computers electronic products. So I think of it is a very anti tech type of move companies like apple would raise prices, she says or make less profit or both all of which hurts. In what may not bring recession, but lovely worries about market confidence the effect that it will have on investment. And what that could mean for stock prices as people think about future, earnings of these companies, most economists think China gets hurt more in an asteroid trade war as the country depends more on trade and over the long term. Adam Slater at Oxford economics thinks tariffs could force manufacturers in China to move could uses current events even showing it might stop to consider relocating in Asia. More than into the United States itself. Already some production has left China for Vietnam. But this what if is not just about business, economists, Derrick scissors at the American Enterprise Institute thinks have prolonged trade spat could sour the whole relationship in a sustained trade conflict where we're holding twenty five percent, tariffs and were hurting the Chinese on their balance of payments. Of course, they're going to become less cooperative on other issues. I know the Chinese will try to make things more difficult for us on North Korea potentially high cost should the trade negotiator's walkaway in Washington, I'm Scott Tong for marketplace. The web site tech crunch broke a story late Tuesday about Facebook that has gotten a whole lot of pickup about how the company has been paying users some teenagers to use an app that sucks up a huge amount of data about how they use their phones when they're not on Facebook. See is how Facebook's believability on matters of data and privacy protection is stretched thin, shall we say we asked marketplace's refinish for what this latest news might mean for the company's regulatory future. It's not unheard of.

China United States Facebook Scott Tong White House KAI Rozelle Los Angeles Federal Reserve Mary treasury Trump apple FOMC Syracuse American Enterprise Institute Derrick scissors Asia Adam Slater
"scott tong" Discussed on KQED Radio

KQED Radio

02:11 min | 3 years ago

"scott tong" Discussed on KQED Radio

"Scott Tong Here in California. There is a new governor. As of today in the legislature is back in session and probably sooner rather than later. They're going to get sucked into a big messy problem. What to do about the trouble utility p genie Pacific Gas and electric the investor owned company provides gas and electricity more than five million Californians, and it is widely reported that PG knees considering bankruptcy as the way to manage. What could be billions of dollars in liabilities? From the reason why fires out here. Marketplace's into Euler has that one. The company's equipment was found to have caused or contributed to more than a dozen of the biggest fires in two thousand seventeen and investigators are looking into whether genie is responsible for starting a fire last November that killed eighty six people PG, knees liability is likely in the tens of billions. So it's reportedly looking into bankruptcy. Travis. Miller's an equity analyst at MorningStar bankruptcy could force the hands of regulators to restructure customer rates. That's because California law requires. Wires the utility to be solvent rate payers pay for it. And they pay for it either through their electric Bill or through their tax Bill through their tax Bill in the form of a bail out from the state legislature or the government could simply take it over. But something's got to happen soon. Mpg knows it Clayton Allen is with height capital markets. It's no coincidence. We're hearing murmurs about possible bankruptcy right now. You have the new governor taking office today. You have the legislature being sworn in. And both of those things are something that he wants to kind of pressure. A California lawmaker is expected to introduce a Bill this month to help PG knee absorbed potential liabilities. But Allen says that Bill might have trouble getting broad support. And I think that anyone is really gonna be chomping at the date to support legislation which theoretically makes utilities less vulnerable to lie dodi's.

California PG Bill Clayton Allen Scott Tong Pacific Gas equity analyst Travis MorningStar Miller