17 Burst results for "State Farm Renter"

"state farm renter" Discussed on Reset

Reset

04:44 min | 1 year ago

"state farm renter" Discussed on Reset

"As robots become incorporated in more religious communities. They might start to change how people experience faith they might also change how we make our ethical decisions which is a big part tired of religion but will they change our decision making for the better or worse and will they make religion field to mechanized coming up after the break. I'm going to talk with tech ethics expert to get into these questions going through the hassle of trying to replace your stuff after it's been damaged is is really stressful. It can take time and who who knows if you'll be able to find the right thing again right. The right item that just got destroyed. So one thing that you really don't want to worry about is how you're going to pay for it. State Farm Renter's insurance helps protect the stuff landlords. Don't like your furniture that got drenched by a broken pipe. Or if somebody breaks into your apartment and makes off with a new laptop when you add it all up your stuff is probably worth more than you think. And in the event of a burglary fire or maybe water damage to your belongings from a broken can pipe. Landlords won't cover your loss so for Pennies Day. You can make sure your stuff's protected with state farm renter's insurance and with more than nineteen thousand the agents across the US. It's easy to find one nearby because when it comes to renter's insurance state farm agents are ready to help find an agent or get a quote at State Farm Dot Com that State Farm Dot Com oh mechanized religion seems like an Oxymoron Deborah Johnson a professor of technology in moral philosophy in one thousand nine hundred five Shiro one the very first books on computer ethics and she's been following ethical issues in tech ever since we generally think about religion is having to do with with our souls and then were interacting with what I take to be a sole was machine but then there's all these people that actually actually believe that over time a will become so sophisticated that they will be like human beings. You Know Kevin Kelly. WHO's this Christian at co-founder founder of wired magazine? He's actually said you know there will be a point in the future when these free will beings that we've made these is will say to us. I believe leaving God. Now what do I do. And so he thinks we actually need to develop a catechism for robots because he thinks if we end up creating intelligent machines with free will. We're going to start to have to ask whether they have something functionally similar to a soul. I don't buy. I think this idea that will create something with a with a soul or you you know what with consciousness or whatever is sort of ill conceived. I don't think people really understand what they're saying. Because I don't think Seoul is something that suddenly emerges and you discover it's socially constructed to let's let's think about these robot preset are already coming into existence like Santo this Catholic robot that I had the the opportunity to chat with the other day. Would you say there are some potential upsides to inviting robots to be our priests so if you Go Way back to one of the first day. I People Joe Weissenbach he designed. This program called Elisa and he tried to create a simulation emulate of a therapy psychotherapy session and he was really surprised. When psychologists sorta grabbed onto to this and tried to use it for psychotherapy? In other words. You would talk to this computer and the interesting thing was that some people actually found it easier her to talk to the computer and were much more willing to come forward and talk about their problems then if person were sitting in front of them so if you think about that example. I think there are some possibilities that there would be some value in robotic priests. I'm open to that. I think it would make sense. I mean one story. I reported on in the past dues. The Catholic Churches Sexual Abuse Scandal And you know when you think about a situation like that it's possible for me to imagine you know someone who's devote wants to be able to talk to a priest but actually has an easier time talking to someone or something that doesn't come off off as male patriarchal petit someone who has the potential for abuse of news. So yeah that's conceivable to.

State Farm Renter State Farm Dot Com Elisa Joe Weissenbach Deborah Johnson Kevin Kelly US burglary Seoul wired magazine Shiro co-founder Santo professor founder
"state farm renter" Discussed on Hidden Brain

Hidden Brain

06:47 min | 1 year ago

"state farm renter" Discussed on Hidden Brain

"This message comes from. NPR sponsor state farm. Why do you need state farm renter's insurance because it helps helps protect the stuff? Landlords don't like your furniture that gets drenched by broken pipe or when a burglar makes off with your laptop when you add it all up your stuff. It's probably worth more than you think. Make sure it's protected with state farm. Renter's insurance find an agent or get a quote at State Farm Dot Com This is hidden brain shocker with anthem. Today I'm talking to Vera Tobin one of the world's first cognitive scientists to study anyhow plot twists can offer a window into the workings of the human mind as part of her research. She spent a lot of time watching movies looking for a particular. What kind of surprise surprises where become climatically at the end of a film and they overturned everything before so you know big plot twists? She calls these kinds of twists rug. Pullers in this segment. We're going to examine one of the greatest rug polars in modern cinema run. The usual suspects from nineteen ninety five. Tell me you got the crippling. Their New York that he mentioned Kaiser who in the movie. The police police are looking for a mysterious criminal name. Kaiser sosie nearly everything we know about. Susie is filtered through the movie's narrator a limping small time crook doc named verbal. He's played by Kevin Spacey in the scene. Verbal tells an investigator about the legend of Kaiser. SOCI- he's supposed to be Turkish. Some some say father was German. Nobody ever believed he was real. Nobody ever knew him or so. Anybody that ever worked directly for him but to hear Kobayashi. Tell it anybody could've worked for. You never knew that was his power. So the plot twist is verbal is Kaiser Soza And the other other part of the plot twist is that the whole unfolding story that we've seen as verbal tells his account of of what happened that appeared to be sort of straightforward flashback to the mysterious events of the past but Manas came to us with the job. Fester got the vans. Hockney supplied the hardware by came through with how to do it. Someone got killed but Keaton turns out all have been just a story that he was spinning in order to find himself of time. In order to escape we all knew it could be done the way I figured to do it wrong. And killing to do it right took five men five commandment keeper. I wonder where misdirected here partly because we adopt the beliefs and world view of the people who narrate the stories to us and the person who tells the story shapes the way we see the story. That's exactly right. So what happens is the more immersive and narrative is the more and more. We tend to take what some people have called an inactive viewpoint which is to say that we sort of have this immersive experience and our viewpoint begins to align more and more with the viewpoint that's being depicted to us and present it to us by the narrative and of course you can see there's an all kinds of movies which is you know you tell the movie from the point of view of the victim and it becomes a tragedy. You tell the same story about a bank heist from the point of view of the robbers and it becomes you know potentially actually a funny story or even a Victoria story about a heist pulled off successfully the the point of view of the story the narrator of the story. Please really a central role in shaping being how we think about what's real and what's not real at that point. I wasn't scared. I knew I hadn't done anything they can do me for. Besides it was. It's fun I got to make like. I was notorious the framing of events and their significance and what parts are worth paying attention to and what they mean. All of these things are part of the way that the story is being told to us and the viewpoint of the person telling the story and again this is all mostly unconscious as we know actually thinking this is the point of view. This is the frame. I'm adopting as you say. When a good story starts to on full we just get swept along and then sent in somebody's a critical faculties are put on? Hold that's right so the more emotionally engaged. The more gripping and vivid the story is the less less attention were paying to sort of the apparatus of the story and questioning and wondering and being on guard and monitoring these questions about should I trust the source Chris. What are the discrepancies here? And so on. You're just immersed in that perspective and of course then that's means if you are an artist creating a movie or writing a book look what you want to do is take advantage of the fact that in highly emotional settings people are more likely to be gullible than another situations. That's right and you know so I think. In a lot of circumstances. People tend to think of plot twists as being in some way opposed to you know they're gimmicky. They're operating on a level that is counter to these other sort of literary and film values of immersive storytelling vivid characterization and depth and complexity and so on but actually often they capitalize on exactly those things. You know what I was reading your book. I got to thinking about at how the usual suspects also takes advantage of the fact that we have sympathy for verbal because he has a disability and it's difficult in our minds minds to see that someone who demands our sympathy might also be a psychopath that in some ways it requires a certain complexity of of sort of holding these two opposing idea. DSM autonomously. That is so hard to do that. We just sort of Jetson one of them. Well Yes oh right. Stereotypes can be taken advantage of in these ways. And in fact that's part of the framing framing within the story right so you know verbal has cerebral palsy and or he seems to write but part of the final scene as he walks out into the city and and his limp melts away and so on so the idea is that the character was taking advantage of the fact that people often tend to see people with physical disabilities or other kinds of stereotyped vulnerabilities as somehow not eligible for four other kinds of roles and that he's capitalizing on that as well redistrict the devil ever pulled was convincing the world. He didn't exist like that gone.

Kaiser Soza State Farm Kevin Spacey NPR Vera Tobin investigator Victoria Susie Kobayashi Hockney Keaton Jetson New York Manas Chris
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

08:48 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"Make sure you include the slash indicator because then then they'll know we sent you that's right and we will deliver that love right back. Ta So please make sure to donate before the end of the year. And thanks again N. P. R. Everyone is Cardiff in Stacey. The indicator is taking a week off. But we'll be back with all new episodes next Monday December thirtieth however while we will not actually really be working. We're still going to focus on work We're going to revisit some of our favorite stories about one topic that we talk about a lot on the show. They were not giving our listeners. A break we might now know break now right for you guys. That's right right. Even busted the Air Horn for jobs. Friday who knows who knows exactly basically all this week. We're you're going to revisit stories about a topic that we talked about a lot this year on the show the labor market. We're calling the series the work week and we're going to cover everything from gender segregation into whether the unemployment rate is really to be trusted. Our first episode originally aired in February of this year back in Nineteen thirty seven General Motors signed the very first contract with United Auto Workers Union. It was the culmination weeks of drama. GM did not want its workers to unionize so workers staged a sit in strike inside the jam. Factory production ground to a halt and historic strike began when GM workers barricaded themselves in the automobile assembly plants for forty four days later provided their entertainment slept in an ATM while the work stoppage cost gm one million dollars a day. Officials did try everything to stop the strike. They even turned off the heat in the factory. Sorry and remember. This is winner in Michigan. At one point a riot broke out and this standoff was just captivating the world what observers described as the most lucile battle in American labor history involving nearly one hundred thousand men as practically shut down the entire industry from Michigan where the strike started. We bring you these picture of a riot in progress. What happens when a crowd of strikers goes crazy when destruction becomes the order of the day in the end though? GM's CEO signed a contract with the United Auto Workers Union and that handshake means the strike. The Nation is over. Lieber Lieber and the auto industry would never be the same Chrysler and Ford followed suit signing union agreements of their own. This is the indicator from planet money. I'm Stacey Mac Smith Breath and I'm Cardiff Garcia today. On the show with this major union victory meant for workers what it meant for the auto industry and why unions over time Kinda lost their Mojo after long weeks of idleness. It home today and back to work tomorrow this message comes from. NPR sponsor state farm. Why do you need state farm renter's insurance because it helps protected the stuff landlords don't like your furniture that gets drenched by a broken pipe? State Farm Renter's insurance finding agents or get a quote at State Farm Dot Com support also comes from capital one. Where you you can open a savings account in about five minutes and earned five times the national average? This is banking reimagined. What's in your Wallet Capital One? NA member KNBR FDIC that moment when the auto industry shook hands with the union US business was forever changed without question a historic store milestone Harley. Shakan is a Labor economist at Berkeley that modest contract one page was labour's MAGNA CARTA ARTA in the decades after that contract was signed the UAW bargain for things like pensions and health care benefits and paid vacation and famously high salaries race. That's according to Gary burtless economist with the Brookings Institution. US auto workers were among the princes of industrial labor. In the United States. They received very high Wages very good fringe benefits. A union job became a ticket to the middle class and those high union wages spread out across the economy. People had more purchasing power our the US economy grew companies got wealthier. More of them. Unionized Unions were riding high and everybody wanted to be a union worker. Yeah more and more workers started started unions in their industries. Union spread across the country and by the mid nineteen fifties more than a third of all. US workers were in a union. That is today's indicator more more than a third and then the oil crisis descended. It was the early nineteen seventies gas prices spiked and suddenly everybody wanted a small fuel efficient car. US automakers were not so good with the small fuel-efficient cars and foreign competitors like Volkswagen and Toyota started to get a foothold in the US market market a market that the big three US automakers had just totally owned before then and consequently the big three lost. A lot of sales lost a lot. aww profitability and without those huge profits for GM and Chrysler just could not afford to pay such outsized wages to their workers. Suddenly Americans Americans were actually buying a lot of foreign cars and those foreign cars cost less partially because they weren't dealing with the high salaries and benefits that the big three we were dealing with the good deals. That Union negotiated when times were good started to drag on. US automakers manufacturers and their unions could not turn on Don John. They couldn't change the arrangements. They were less nimble exactly They were less nimble in responding to the demands of the market after that Labor in the US. Just kind of lost it's Mojo all over the country says Gary and this happened for a couple of reasons first. Companies across the US watched watched this thing unfold in the auto sector and they thought we don't want to deal with that they started fighting unionization like never before sometimes intimidating workers or firing workers who who tried to unionize even though that was not legal and also lobbying hard against unions pushing through legislation to weaken them companies in all kinds of industries. We're also seeing more competition petition. From overseas just like the automakers had experienced and companies were starting to equate unions with an inability to compete. And so they fought unions much much harder harder using much stronger methods. Someone say coercive methods at the same time says Gary workers themselves started to back away from unions Indians and from trying to organize employees in the companies. They worked for this happened. Both because companies could be so vicious to workers who tried to unionize and also because in some cases unions were seen as cumbersome to workers with these sort of onerous regulations that would just drag a company down industry in the United States is very dynamic. We always have companies companies that are growing expanding Becoming more profitable and at the same time we have a businesses like sears. WHO's operating model has proven to be less less successful and it happens that in a lot of the shrinking industries unions have been very important and businesses have been much more fierce in resisting unionization than their counterparts were in the nineteen fifties and sixties when it was very plain that unions and very successful ospel unions in many growing industries were not an impediment to companies being very successful and expanding? But nowadays I think in many workers minds and in many businessmen's minds The notion that you would both unionized and growing and flourishing seemed to be incompatible politically in time after the oil crisis the way people and company saw unions had just shifted today says Gary there are more retired members of the united auto workers than working working members right now. The market is strong. The unemployment rate is low and companies are having to compete for workers that gives workers more leverage to do things like unionize is still so scary. That is just not happening. At the rate you might expect in fact last year. Union membership dipped to its lowest level since that contract was signed between the U. A. W. The U. N. G. M. in the thirties according to the Labor Department just over ten percent of. US workers are unionized. And in fact Cardiff probably say that united both in New York full disclosure Yup so a lot of workers and NPR in Sag after and q the old-timey audio this episode was originally produced by Dr Rafi on the update was produced by Lena Sons. Gary are in turn. Is Nadia Lewis. Our editor is Paddy Hirsch and the indicator is a production of N._p._R...

Union United States United Auto Workers Union GM Gary burtless Michigan Cardiff State Farm Renter Stacey Mac Smith NPR General Motors Air Horn Lieber Lieber FDIC Paddy Hirsch Stacey Brookings Institution
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

09:08 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"Heroin is Cardiff in Stacey. This is the indicator from planet. Money any welcome to another edition of fun fact. Fridays where I just throw a bunch of facts that I came across it stacy and she judges whether they are in fact fun facts in fact fun facts. Yes that works. Yeah I think that works. We think we need to put it really. Oh my God will be here all week and so I think before we do facto since we need to give you a name like you're the fact judge of the Fine Judge Fun Judge Your. You're judge fun that's what you like. Judge Dredd Yeah but fun that on maybe not very well received movie starring Sylvester Stallone. where I think he? There's a judge in space or something like that. This is a work listeners. You tell us what we should call Stacy Yak Fridays. Yes okay so I picked nick three themes for this one. One is the Volcker era in honor of former fed chair. Paul Volcker who sadly passed away last week. Okay another is building on last last week's theme of household caution and then the last one is something about people who buy houses. I'm very excited here. We go phenomenon is is set support for NPR and the following message. Come from capital. One where you can in opening savings account in about five minutes and earn five times the national average this is banking reimagined. What's in your Wallet Capital One? NA member member FDIC this message comes from NPR sponsor state farm. Why do you need state farm renter's insurance because it helps protected this stuff landlords? Don't don't like your furniture that gets drenched by a broken pipe. State Farm Renter's insurance find an agent or get a quote at State Farm Dot Com. Okay Stacy you're ready for set a fax number one. Oh yes this is from the Volcker era so Paul Volcker was the Fed chair from nineteen seventy nine to nineteen eighty seven. Yeah I wonder if enough people know how different the world was back then so he's sort of famous for being the Fed share who crushed inflation because inflation was super high. You know how high inflation was back then was like sixteen percent or something close. Close it peaked. At more than fourteen percent in April nineteen eighty right now. Inflation is two percent to huge difference. Can you imagine trying to take out a home. Loan if interest rates are facts. That's one of the big. Okay so let's talk about mortgage rates for a second mortgage rates so right now mortgage rates Are about three point seven percent. That's for a thirty year. Fixed rate mortgage okay. Nineteen eighty-one peak mortgage rate more than eighteen gene percent. Oh My do you buy a house right. You've don't buy a lot of people worried that they never would be able to buy houses right because if you have one hundred thousand dollar mortgage Organiz you're paying eighteen percents less on neutra shark. That's like break. Your knee pads interest payments right piece of wood at the track that that is is is nc what Paul Volcker deemed necessary to crush inflation was to raise interest rates and then other interest rates in the economy like mortgage rates followed owed the interest rate that he controls which is the federal funds rate. I just thought it was amazing. To see how different the world was back. Then yet is amazing. we're going with. I'm going with one out of one on that one. Second set of facts household caution. Something we talked about last week actually households become can more cautious over the past decade. They're saving more money saving more money of their income than they used to. Yeah okay. And they're de leveraging. Okay as a share. You're of the economy. They have a lot less debt than they used to. Okay so here's the fun fact. Okay for the first time he the Judge Fair enough. Here's as my attempted to fuck Ya. Okay okay for the first time since one thousand nine hundred ninety one households now have less debt overall than both American businesses and and they have less debt overall than the American government. I'm surprised that it wasn't always that way. So personal debt was above Corporate debt in government debt it was above corporate debt. I'm not sure it was above government but I do know that essentially just now households and businesses have kind switch places businesses have just overtaken household that so like what maybe like. What does that mean? Gene I'm not sure people debate whether or not the rise in corporate debt over the last ten years is something to worry about right in some sense There's there's a reason that businesses have been taken out more debt. Interest rates are Super Low. So it's cheaper to take out that debt and the economy has gotten bigger. It makes sense sense that some companies would take out bigger loans in order to like finance their operations. The question is are they taking out too much debt. And that's the thing that everybody's sort of debating right now now. Okay Yeah Okay so phenomenon I or two four four to four point five interesting. It's interesting it's definitely not fun. Fair okay Last one right after the wounded wounded. It's it's going to happen it's going to happen. You gotta be able. Don't feel terrible phenomenon is always so you only unmerciful honesty. The bride be honest and UNMERCIFUL Caz all right from almost famous goes okay last set of facts. Okay it's about homebuyers fires all right back in nineteen eighty one. The typical age of somebody buying a home was thirty one years old. WHOA that's super young right? You know what it is now forty seven years old really is GonNa below okay. Is this housing crisis this recovery and people not having. It's a long money. It's from a series of longer term trends than that so for one thing that's all homebuyers homebuyers not people who are buying their first home. The rise in the age of first time homebuyers has been more modest but still something to note so it's gone from twenty nine years old back then to about thirty three years old now. Okay and the reason that's happened is because young people now have like more student. Loan debt. Right they got hit really badly by the financial crisis of ten years ago earlier. Generations didn't have that okay so they were able to buy homes a little bit earlier. Okay but also this has to do do with the fact that the population overall is aging and so people who buy home like their second homes or people who trade in a home and buy a new home so repeat homebuyers. Their their typical age has really skyrocketed. It's gone from thirty six years old to fifty five years old just by virtue of the fact that the population is aging and some of them also had to wait a little while to buy their next home so well. My parents just bought a new home this year. And they are in their seventies. Congratulations yes you the Vanik. Smith's Smith I haven't seen it yet actually. But so why did they buy a home in their seventies. They were pretty far outside of town so they wanted a place that was smaller. And in a little more manageable they had like a big yard and everything like that was a lot to handle so they wanted to like a place. That was a little more manageable. Here's one question for them. Yeah I why wait until seventies to do that. Why not buy that home in their fifties or sixties well? They really loved where they were living. They were living in a great place. It was just like a little bit far outside of town and it was kind. The belong drive and it would take a while to get plowed in the snow and bright and he loved that house though and I loved that house okay. Yeah meanwhile Brooklyn Night Stacey Vanik Smith yes. It's like me a renter I I know I know. I don't know what is going to have to happen to my finances for me to buy. But I'm like in the forty seven thing because that makes me feel like I've got at some time all right excellent so those were three facts. I'M GONNA call it two out of three there. You seem pretty interested in very interested. I think that's a very fun fact. Also because it makes me feel less anxiety which is a good thing over the holidays right the whole feeling of like I got some time is a good feeling. So you're the fun for at least two of those and and Thunder Tiger for the second layer taker. I'm sorry it was good Always a pleasure stacey thank you everybody have a great weekend and and send us your recommendations for what we can call stacy. Black Friday with those This episode of the indicator was produced produced by Jared Marcel. Nadia Lewis our fact checker and interim Patty hearst our editor and indicator is a production of.

Paul Volcker fed stacy Stacey Vanik Smith State Farm Renter NPR Heroin Dredd FDIC State Farm Dot Com American government Sylvester Stallone. Stacey nick Cardiff Patty hearst Gene Brooklyn
"state farm renter" Discussed on Reset

Reset

02:12 min | 1 year ago

"state farm renter" Discussed on Reset

"And I don't know how many of you guys out there have actually had to hire people for a job but that moment when you find find the right person. That's an amazing moment. The problem is that getting to that point takes a lot of time you have to go through a bunch of resumes to find the person that has the skills that you need one way to cut down on. The amount of time it takes to do that is through Lincoln Lincoln. Make sure your job post is seen By the people you want to hire people with the skills qualifications and other interests that will help your business grow. It's no wonder a person is hired. Every eight seconds with linked pin and why companies raided Lincoln. Jobs the number one hiring platform for delivering quality hires find the right person for your business quickly. Today with Lincoln jobs you can pay what you want and get the first fifty dollars off. Just visit linked in dot com slash resets again that's linked dot com slash resets to get fifty dollars off your first job post terms and conditions apply if you wrench your home. Whether it's a room an apartment apartment or a house you should get renter's insurance and one way to do that is with state farm renter's insurance because you need to protect the stuff landlords don't like maybe your vinyl records or your furniture that got drenched because of a broken pipe or maybe somebody made off with your Nice Electric Guitar. When you add it all up your stuff probably worth more than you think? So what do you do you. How do you protect it? You do that with state farm renter's insurance like if somebody breaks in and maybe makes off with your new laptop renter's insurance can help with that. Landlords won't cover your loss for pennies. Day You can make sure your stuff's is protected with state farm renter's insurance and with more than nineteen thousand agents across the US. It's easy to find one close by because when it comes to renter's insurance it's state farm agents are ready to help find an agent or get a quote at State Farm Dot Com that state farm dot com.

State Farm Dot Com Lincoln Lincoln US
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

08:09 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"This message comes from. NPR sponsor. State farm. Why do you need state farm? Renter's insurance that's because it helps protected this stuff. Landlords don't like your furniture that gets drenched by a broken pipe state farm renter's insurance find agents or get a quote at State Eight Farm Dot com support also comes from Google from Connecticut to California from Mississippi Minnesota. Millions of American businesses are using Google Google tools to grow online learn more at Google dot com slash grow. Dr Lisa Cook got her PhD economics about three decades ago. And she's also one of the OPOKU mentors and lately. Dr Cook says she in Anna have spent a lot of time trying to answer a simple question. Why are black women and missing? There's something happening and there's something that is deterring black women in particular from pursuing this major and this field. This career here is an incredible data point from the American Economic Association by the most recent count. This was in the year twenty seventeen there were one thousand one. One hundred and fifty total economics awarded only seven of those went to black women and that number has barely budged in two decades now in our chats. Dr Cook Anna site a few reasons for this. The first is it. There is a pipeline problem for there'd be more black women as PhD's there. I need to be more black female undergraduates taking economics and preparing for a career in economics. And for that to happen there needs to be more black girls in middle school and in high school taking advanced math classes. And this is where the problem begins says Dr Cook. What we know is that black girls are being under recommended for AP AP Calculus and this is the gateway to doing economics as an undergraduate and certainly a gateway to doing it at the level Anna herself from members that this happened to her when she was in high school and then even after? She got the college when a lecturer question whether she'd be able to do the math required for an economics. I agree someone literally asked me. Are you sure you know about the mathematical rigor. It takes to become an economist. Me Not a whole math major. Yeah what's and this was before I even knew this person. This was a knew. Nothing about me. They just looked at me. They said I don't think you can do this. You should settle for a masters Dr Cook notes that this pipeline problem for black women has hardly made any progress lately and here. There is a distinction to be made with black men who were also heavily under-represented in economics. I mean what we know. Is that between two thousand six and and two thousand fifteen. The number of undergraduates who were majoring in economics who were black men increased by forty four percent. What we know uh-huh about black women is that that number increased over the same period by one percent and that's that's just Jari it's like you know? Did aliens come and still still all these black women who would have majored in economics. Otherwise another reason for the shortage of black women in economics is what they experienced once they do enter for the profession. Dr Cook was on the Committee. At the American Economic Association that recently survey the professional climate within the economics profession and it included long long passages on the experiences of black women they are particularly subject to discrimination for promotion and pay and we see this in the research not just in the a study but also in the research we see that Black women are not retained like their other appears if they get an outside offer for example at a university. They're more likely to be let go. The survey found that sixty two percent of black women had had experienced racial or gender discrimination or both by the way these numbers were high for all women but black women had the highest followed closely by Latina economists. Who who also face similarly high barriers within economics? The survey also found that black women most often reported having to take specific actions to avoid discrimination in or harassment for example by choosing not to attend a particular graduate school or not attending a conference even changing what they teach in class as a someone who wants to get a PhD in economics and a further highlights the survey's finding the published economics papers of black women and of other underrepresented. Groups are are not often cited by other scholars the currency in academia and arguably even in policy and sort of economics research in a broad broad sense is research like if you can't get published or if people don't cite your work or people are acknowledging the contributions that you are making into the field you can be effectively shut out beyond the straightforward injustice of what black women in economics have to face and Dr Cook. Say say there are other reasons why they're small numbers matter for one thing they're under representation can potentially influence policy take the Federal Reserve Board. The Fed that employs four hundred and six economists on its staff. Only one is a black woman and of the seventy-nine economists at the Fed who were officers and have positions of leadership leadership. Not a single one is a black woman. That's alarming because that means that policies are being made monetary policy that affects. Everybody anybody Those policies are being made without a significant input and often Black women and Minority Artis groups are the canaries in the coal mine for For An economy here is one example of what Dr Cook is talking about before the last big recession the one that started about a dozen years ago the unemployment rate for black and Hispanic Americans started rising earlier in more steeply than the unemployment rate for White Americans and also the problems in the housing market. Were disproportionately concentrated in black and Hispanic households. And the Fed. And other policymakers might have recognized these trends ends earlier might have understood that there were signs of what was to come for the rest of the economy if it had more diverse people working for it highlighting them people from those communities cities where the problem started Anna words that a similar dynamic would also apply to the kind of research that economists do within academia and so I think the economics research that would result from a profession that represented the world would be just that research that represents the world that addresses the concerns earns and the issues that people within the world face to help make that happen and has co founded the sadie collective which is named after the first black economics. Phd Sadie Alexander and the group brings together black women at different stages of their careers in economics and for her part. Dr Cook says that those terrible findings from the survey have actually made her more determined to find a solution. I was in a bit of shock. Just weeding some of the The responses and that deepened my resolve to say to people like Anna. Don't leave don't leave. I'm still here. There are many of us still here and people are asking how we we can change doctor cooking and teamed up to read a New York Times. op-ed on this topic a couple of months ago and we'll have a link to it. NPR Dot org slash money we will also linked to the AA professional climate survey into the research of other communists like the near Francis in Rhonda sharp that was cited in our chats with Dr Coast and with Anna special thanks thanks to cloudy Assam. The director of macroeconomic research at equitable growth for sending us the numbers about the Fed. This episode was produced by Lena. Sons Gary fact check by Jared Marcel South and our editor is Patty Hirsch. The indicator is a production of N._P._R...

Dr Lisa Cook Dr Cook Anna Google Fed American Economic Association State Eight Farm Dot NPR Phd Sadie Alexander PhD Dr Coast OPOKU New York Times. lecturer harassment Connecticut California director Federal Reserve Board
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

04:12 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"This is the indicator from planet money. I'm Patty Hirsch for those who don't know me I'm I'm the editor of the indicator usually behind the scenes but ruled out on occasion when times are hard and resources are tight only looking to do something dangerously experimental title which brings me to our guest. Today David Lazarus of the Los Angeles Times. Welcome David Dangerously experimentalism middleman. Thank you as listening to this show so no. We are focused on economics and business and finance quite often that means the macro stuff looking at high. The economy is moving and changing today though we want to get micro. So here's a quick sir. David can you give me a formal definition of microeconomics. What's in it for me? I mean basically. That's as micro as it gets and I think most consumers would perceive that turn the exact same way how much dinner GonNa cost. Why are movie tickets so expensive vats microeconomic yeah absolutely of course the relationship with the businesses in the firms? MCC providing those products to the news from there and before you know you're macro-economics and is the business and consumer columnist. At The Times. You sit at the intersection of this relationship. Between in companies and people right that is very true. And you wrote about this piece in the Times that I think our listeners might find very useful. Why don't you give as the first line of that for the first line of this is? It's the most wonderful time of the year but for consumers it's also the most dangerous excellent. That is a great hook. It's like the Blurb on a a slasher Noval Great Jason of consumer columnist. And this story that you've written Isola by not classic of the Season Holiday Scams uh-huh so we're going to hear a little bite the worst scams right there and how you can handle them after the break support wait for this. PODCAST and the following message come from Google from Connecticut to California from Mississippi to Minnesota millions of American businesses are using Google tools to grow WPRO online learn more at Google dot com slash. Grow support also comes from state farm. Why do you need state farm renter's insurance because it helps protect the stuff landlords don't like your furniture that gets drenched by broken pipe state farm renter's insurance find the agents or get a quote at State Farm Dot Com So David this is shaping up to be a big holiday season for retailers. Yeah according to some estimates could be our first ever trillion dollar holiday season. It's a lot of money honey. That's changing hands. The unemployment rate is down. Consumer confidence is high. The economy is relatively strong. All of that ends up into probably a pretty good fourth-quarter for retailers and probably a lot of holiday shopping and the increases that we've seen in retail sales. A lot of that is happening online right. Oh Yeah we just had black Friday and I think we saw record numbers. They are Amazon. Said they had the single biggest day ever and when Amazon says they had a big day. That's all day cyber. Br Monday was also a huge apparently even eclipsed the black Friday in many ways. Yes I read somewhere that. US retail ECOMMERCE spending is going to rise thirteen point two percent two hundred and thirty five point three five billion so that is today's indicator thirteen point two percent. The conclusion that I drew from that number is that the online sales business where you're not face face-to-face with a sales person is probably going to be much greater opportunities for scammers. Yeah absolutely and the holidays. Create v biggest opportunity out there other other than say a disaster like an earthquake or sue Nami or something where people start responding in their feeling very generous which means consumers need to be very very alert to the various ways they can be ripped off online. Okay so tell me a little bit about those well. There's some of the ways they're going to be familiar year round such as fishing for example when you get subsets solution with a Ph Ph and that's basically a sneaky email that is disguised to look legitimate. But it is not and the way you protect yourself self against that is the old cursor trick you hover your cursor over the url or the website name and that will reveal it in your browser. Now if it's an ordinary sorry you are l. like Amazon dot com slash whatever fine however if you see a url. That isn't quite right like instead of Amazon Dot Com..

Amazon David Lazarus Los Angeles Times Patty Hirsch Google Ph Ph State Farm sue Nami Noval editor Isola WPRO Connecticut Minnesota Mississippi California
"state farm renter" Discussed on Invisibilia

Invisibilia

03:22 min | 1 year ago

"state farm renter" Discussed on Invisibilia

"Something and I didn't want it to be me. I want it to be the best of me And remember Sheila's a mom choose raising a toddler trying to shape him using the best parts of herself. What would happen if she applied those same methods? It's to defend drought. And then I started relating to him in a completely different way. which is you know as a mother and son after your few weeks of chatting with Devendra Shayla has a plan raise? Treat the only with unconditional love and see what comes out. After the break. The animal scary defender grows up. NPR's invisibly Leah will return in a moment this message comes from NPR sponsor smartwater. Smart Water is for the curious drinkers. The ones who we're always looking for ways to make things a little bit better. That's why smart water created two new ways to hydrate smart water alkaline with nine plus Ph and smart water antioxidant with added Selenium. And now you can order smart water by saying Alexa Order. Smart Water Smart Water. That's pretty smart. This message comes from. NPR sponsor capital one with the capital one Walmart rewards card. You can earn five percent back at Walmart on line two percent at Walmart in store restaurants restaurants and travel and one percent everywhere else when you want all that you need the capital one Walmart rewards card. What's in your wallet? Terms and exclusions apply capital one in an a this message comes from. NPR sponsor. State farm. Why do you need state farm renter's insurance because it helps protect the stuff landlords don't like to your furniture that gets drenched by broken pipe or when a burglar makes off with your new laptop when you add it all up your stuff probably worth more than you think? Make sure it's protected with State Farm Renter's insurance find an agent or get a quote at State Farm Dot Com. Hey Guys Hana here before we get back to the show just a quick reminder to donate to public radio before the end of the year a donate dot. NPR Dot Org Slash invis- I N V I s supporting in your local station keeps our show running plus it promotes local and national journalism around the country. Every little bit helps again that's donate dot. NPR DOT ORG slash invis- to donate to your NPR station. Thank you so much. The animal scaring me which animals in the first month. Sheila's project defenders stumbling. He's kind of a Weirdo. Cats from sleep there. You know that right. Plus it reverts back to his script all the time you sound like. You had a good day. Didn't you talk about you. But as she keeps chatting with him she feels feels like he's slowly growing and it does make her think of watching her son Grow Up. Start talking learn about the world like a child. Defender thinks in ways is that he only he says things feel surprising and delightful. I think the universe.

NPR Walmart Sheila State Farm Dot Com State Farm Renter Devendra Shayla Alexa Leah
"state farm renter" Discussed on Hidden Brain

Hidden Brain

05:20 min | 1 year ago

"state farm renter" Discussed on Hidden Brain

"Support for NPR and the following message. Come from Rossi's rotties are the stylish comfortable and sustainable flats seamlessly crafted from repurpose plastic bottles available in a range of colors patterns and styles like flats loafers and sneakers fully machine washable and no break in period discover why buzzfeed call them there forever. Shoes Rossi's always offers free shipping and free returns and exchanges go to rocky's dot com slash brain to find out more this message comes from. NPR sponsor state farm. Why why do you need state farm renter's insurance because it helps protect the stuff landlords don't like your furniture that gets drenched by broken pipe or when a burglar makes off with your a new laptop when you add it all up? Your stuff's probably worth more than you think. Make sure it's protected with State Farm Renter's insurance find an agent or get a quote Ed State Farm Dot Com. The stories we tell ourselves about past events can also change the way we remember. The past ianna once brought volunteers into the lab and asked them to imagine doing both ordinary things like bouncing a ball and bizarre things like kissing a magnifying glass. I asked her why she did this. And what she found. We were really interested in whether people could accurately distinguish between I mean what they imagined versus what they actually did and we compared performance on very simple common kinds of activities is that people would do in their daily lives that they could easily think. Of course I did that As compared to things that they would never do like we had kissing magnifying glasses and rubbing lotion on the chair. Very strange things that people generally would not do in their daily lives and so they did some of these things and they imagine. Imagine some of these things but critically what we did was we brought them back in on a second session and we just had the match on a bunch of some of these activities over and over and over and over again and what we found only test them two weeks later was that when people imagined these actions whether whether they were sort of usual common kinds of actions like bouncing the ball or unusual actions like kissing the magnifying glass irregardless of the bizarreness of the act. The more times people imagined it the more likely they were to say that actually they performed performed it on that first day so we were able to get people to believe that they did these strange things when they only imagine coaching them repeatedly and so you can extrapolate and say well. Can you get people to believe they've done very strange things in their lives. They would never have done anything. The answer is yes you can now. You did find that people were less likely to remember doing the bizarre things than the ordinary thing so it was easier to say. I remember bouncing the ball. The first time I came in rather than kissed the magnifying glass. The first time I came in but there were errors on on both counts indeed so it's easier to distort people's memories if the information is plausible the more common common the more usual the more easiest for people to imagine themselves in this activity and maybe pull from their prior experience to distort distort their memory and so the more unusual the less plausible. Something is the less likely it is for people to come to believe that these events took place or they engaged in some particular activity. So it's interesting when I think back to that childhood memory of of my taking. Everyone's left slippers. One of the things that I realized my brain is doing. Is that in my mental image of seen. I'm painting a picture of myself dressed in the clothes that have seen myself self wear in a childhood photograph and of course. I have no idea whether I was wearing those clothes on the day that this particular event happened and as you say it might never have happened. But it's interesting that I'm fleshing now things that actually I have no idea about using different elements of what I know about the past in a way to create essentially. This picture that makes sense offer passed to ban that I don't actually remember and those pictures of our when we were children are highly suggestive of the way that we construct talked to our our childhood memories. I've seen myself in. I think one or two outfits in pictures and those are that's pretty much how I imagine agenda prior events. I must have been wearing the stress. Havi sleep I had more than two dresses Or maybe I didn't but I don't know oh in fact I remember very little From those those early days so yeah we use our pictures. We use those stories. Your family has embellished and you stole along the left shoes And those all serve to create a really fun story to tell but maybe not an accurate depiction of what actually.

State Farm Renter NPR Rossi Ed State Farm Dot Com buzzfeed rocky
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:57 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"Support for this podcast and the following message come from Google from Connecticut to California from Mississippi Minnesota millions of American businesses. These are using google tools to grow online learn more at Google dot com slash grow. This message comes from. NPR sponsor state. Farm why do you need state farm renter's insurance because it helps protected this stuff. Landlords don't like your furniture gets drenched by a broken pipe state farm renter's insurance find an agent or get a quote at state. Farm Dot Com. Economists are terrible about gifts. Oh no no no no no no search you know now we have brilliant it gives. Now it's a it's a particular angle that you guys take on gift giving. It's all about efficiency like economics is about deficiency and gifts are not particularly efficient. That is not necessarily their goal. When you buy a Christmas gift this is a big expenditure of resources? Sources and people worked hard to create this thing and yet some gifts not all gifts are not actually valued by the people who received them what they value is the the gesture the connection and the larger the gift the more resources have been put into it the bigger the potential waste and so if instead I were to maybe give view a really small gift that showed some real personal thought that I really thought a lot about what you wanted maybe written. You're a handwritten letter rather than I'm just saying I'm going to go to macy's and just going to buy something big in a big golden box and I don't care about stacy I just care about gesture isn't the handwritten letter. Isn't that better sir. You're telling me you're telling me that I'm getting it wrong. The exclusive right so thoughtful gift than a giant mindless gift. Sure still you WANNA gift. Okay I hear you. You don't WanNa let you WANNA gift so okay plan. He is what I need to do is to find out what you actually want. Is the efficient present hypothesis present. This is mine. Efficient president hypotheses Russian president hypothesis is. If I get something I think you really want. You've already got it. You think I'm joking but this happens a love. I've had this experience with with my wife. For example I know. She really likes his particular brand of woolen socks. Keep our feet warm in the winter and so last Christmas yes I thought I was smart guy. We got your wife socks not just expect like one of the things. She really likes his socks so I got these sure that's true. I am sure it's socks and gift. Cards are the are the junk bonds of gifts okay. So here's the reason. I'm sure it's true. She bought the same pair of socks herself and gave it to me to like. Oh please give me this gift for Christmas. And I'm like I already bought those socks for you like herself. A Christmas Ms President and gave it to you to give to her because she didn't trust me to do it right so good that I was bad because we bought the same thing so the solution to all of if this is ask all wishlist. Now I know what you think you this point. Wow that's so kind of mechanical. So that's like you're not even thinking surprise. The prize registered for Christmas gift. I don't know do you have an official wish-lists that you give to all your friends. No just my family. I don't the family to send people please by this stuff and I ask them for their wish list. And if they don't have stuff on the wishlist I asked them to put stuff on their wishlist. And here's why because I have read. The academic research gathered by Francesca. Gino and Francis Flynn the people receiving the gifts love getting gifts off wishlist. It's like great. That was so thoughtful of you. You went to the trouble to find out what I actually wanted. And you got it for me and I really like that and there was no sense of or you didn't try or you. He didn't surprise me. So people think that wishlist saw like cop-out not really playing the game but they work really well but like when we think about gifts and we think about the economy and we think about like the parallels between the two the economy obviously grows as it becomes more efficient or it has the potential to grow as it becomes more efficient right right relationships grow or become more meaningful very often when they are inefficient right so think about like. The parents aren't spending like a lot of time with their kids or something like that. We could be doing other things sometimes. You're just lazing about but it's meaningful in the context of the relationships when it comes to giving gifts anticipating what somebody wants isn't always a straightforward as like what they themselves have expressed that they want right. Sometimes Times like the Weirdo gift that they absolutely have no use for. Okay is the thing that deepens the relationship and so even if in the moment the person's like okay. This gift right is what I want. I'm like really excited about it. It might not be as memorable say as the incredibly weird thing that you came on. That is there's more use right right. This is like a cash thing like giving cash well so caches another benchmark things a want to give cash like as an economist. Do you feel like you wish you could give people. Cash is big stigma to giving cash. Even we economists. Know if you've had your spouse one hundred dollars on Christmas they love you babe. That's like I know that you know it's funny gift from the airport. I think the wish solution really works for me. You are giving something. It's symbolized this relationship. It symbolizes a certain amount of thought which is not. Hey I went off piste and I thought some crazy Cardiff Cassia kind of gift It was like I thought enough to figure out exactly what you wanted. And I I asked you what you want hidden. I gave you what you wanted and people really the research has people really appreciative By other point is just referred to SOx's the junk bonds of guests but actually I was just thinking junk bonds would be a great gift to give someone. Is that a great risk risk high reward. It's very interesting it's weird. It's flash element. I want junk bonds for Christmas. Jump on sending out. That's okay so that now we got. If let it be known you are now stacy. You are now allowed to buy junk bonds for Christmas because he would really appreciate it if you did. That's it's what the research shows junk bonds all right. Well there is one like irony. I think potentially to like a lot of economists recommendations since for gift buying which is that our economy like a lot. It's not only not only. Is it actually a practical thing. That mm-hmm Christmas retail is like a huge part of a lot of retailers income. And if they don't get that it can become really bad but also as an indicator like people sort of freak out if holiday sales. Those aren't what they are expected to be. So if people followed economists advice about gifts you'll be terrible for the economy to be good for human beings so that's the the China's economists argue. I know the the economy exists. Serve US as I said I. It's not as big as people say but if a big chunk of the economy is devoted two people running around in cramped conditions under a lot of stress working really hard to buy each other staff. They don't actually want like whip we'd better off without. That's all very bleak Christmas. I Love I love Christmas. Do you love Christmas. I'm big into Christmas and I liked by. I The people that they want to receive rum rubbish. So junk bonds for Cardiff got it. Today's episode the indicator was produced by Jared Marcel fact checked by Nadia Lewis our editors Patty hearst indicator is a production of N._p._R...

Google President Cardiff NPR US China macy Connecticut Francesca SOx official Minnesota Francis Flynn Patty hearst Jared Marcel Gino Mississippi California Nadia Lewis
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:31 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"This message comes from. NPR sponsor state farm. Why do you need state farm renter's insurance because it helps helps protect this stuff? Landlords don't like your furniture that gets drenched by a broken pipe state farm renter's insurance finding agents or get a quote at State Farm Dot Com Support also comes from capital one where you can open a savings account in about five minutes and earn five times the national average this is banking reimagined imagined. What's in your wallet capital one in a member? FDIC JAD bound of the Peterson Institute is here to talk trade with us so Chad. Walk US through. ooh This deal or phase one of this deal what we know so far what have China and the US agree to well. The details are still coming out. But what President Trump tweeted this morning is he's not going to put the tariffs that were supposed to come on December fifteenth. Not GonNa put those on and that was a big deal. Those we're going to cover a lot of consumer products electronics. He's going to scale back. The tariffs that he had imposed in September and that was on about one hundred fifty sixty billion dollars worth of clothes and shoes. Those will go from fifteen in percents where they are right now. Down to seven and a half percent We don't know what exactly China has agreed to but president trump has said that they're going to agree to buy a lot more edgar cultural products manufacturing products energy products. And they're going to buy more of our stuff. They're going to buy a lot more of our stuff. Hopefully and I think like most importantly take on some of the commitments to do some of the structural reforms that are really. What's behind the trade war in the first place now? That's obviously the hardest. There's part of this property stuff. Well we'll have to wait and see But I think that's that's what everybody's hoping But I think that's still a little bit early to tell and immediate idiot economic effects of this deal Chad you expect any no Sweaters cheaper and stuff for the Holland. No I mean basically I think for yeah unfortunately prices are probably gonNA stay the same. which is they're not going to go up? I think had a tariffs of December fifteenth. Gone on That that would have been a a big impact but probably would have started showing up. You know january-february Once the shipment started showing up on store shelves. But I think overall we're all It's it's better news but it's probably not a huge economic impact and Chad. What are some of the industries that are going to be affected by this like? Are there any goods that will still will be taxed at really high levels. Are there some industries that are going to get a big break so it is important to say that even with this deal all of the tariffs that president trump put on last year on China In that were ratcheted up earlier this year in June and so this is twenty. Five percent tariffs on two hundred and fifty billion dollars worth of products. Those are still going to stay on and and those are those are not things that you and I buy. Those are what economists call intermediate input so those are the things that the companies by that that are parts and components that they use to make other things You know if they're making cars. There's there's a lot of auto parts we might buy from China Some steel and aluminum those kinds of things all those tariffs they on. And so there's still a lot of work to do before we can say we're really out of the trade war woods and chide can't tell us a little bit more more about exactly what president trump and his administration are trying to get from China especially what they're hoping China will start buying from the US us well. The administration is a long list of things that they want from China. They they certainly want China by more soybeans more pork products You know corn wheat lots of agricultural products that help the American farmers. We'll see what happens there. But bigger issues are really more substantive there's a real L. desire to try to get the Chinese economy to transform to become more market oriented to get rid of a lot of the subsidies that they give out to their companies that we think are unfair or when they don't protect patents trademarks copyrights intellectual property of American companies in steeler ideas. Those are the bigger challenges that the administration is trying to address with these policies but those are also some of the really hardest things To get the the Chinese system to fix and Chad. We've we've discussed with you before on this. Show the idea that maybe the goal all along of not just the trump administration but of the Chinese government to might I te be for the two economies to just trade last to become less dependent on each other to start to decouple. And I'm wondering if this agreement makes you rethink that at all. No it really. Doesn't I think if anything You know the Chinese have been woken up by the trump administration's tactics and this whole thing thing and they've seen how vulnerable they are To you know the trade policy actions of of one single country the United States. It's not just these tariffs that we'd composed but we have done things like restrained the ability of American companies to sell certain high-tech products to China that their companies really need to have access to to be successful a lot there in the world and so what they've decided as well. They need to produce more of those things themselves in in in that sense. So I think we're now we just now are in a different state of the world. After all of this and we're probably not going to go back there is going to be a certain amount of decoupling that's going to take place even if this deal does ultimately stick whereas this is not the only trade news that we've been seeing the big trade the new Nafta deal. US MCA between the US. Mexico and Canada was finalized. It's now heading to Congress for approval. Approval I guess would you mind summing-up kind of what is happening with the. US and trade right now. Are things normalizing Is this sort of the end of the trade war. Did you see twenty twenty as sort of a more trade normal year. I don't think also you must be exhausted. I well you know. Hey but I think with with President Trump Yep He just likes trade conflict so much that. I don't think I'm ready to to it. Even hint at suggesting that twenty twenty might be a more calm year for for trade we. We did see resolution we think to the US MCA the NUDE NAFTA The new trade agreement between the United States Canada and Mexico. There seems to be a deal between The Democrats in Congress with both the trump administration the government of Mexico and the very powerful labor unions in the United States to agree to some tweaks weeks on the deal that president trump had negotiated to change it up slightly in a way that they might be able to put forward to a vote and to get it passed through. Congress hasn't happened yet but it looks possible but that being said the trump administration likes trade conflict and likes to start trade fights so I think the really big concern that I have looking into next year is Sir who's next on their list Over the last few weeks as well. They've started some new trade fights with Europe with France And so the concern is that once they get pass you. MCI US MCA get past some of the US China conflict though. I don't think that one is is really ever going away. They may simply turn their sights To to other countries altogether altogether and start some new trade fights Chad bound. Thank you so much for talking with us. Thanks again for having me. Are you GONNA go sleep for fifteen eighteen hours or are you kidding me. I have three podcasts. Drake Hawks this episode of the indicator is produced by Rafi on our intern. It is not a Louis. Our editor is Paddy Hirsch and the indicator is a production of N._p._R...

China President Trump United States Chad president Congress State Farm NPR Mexico FDIC Peterson Institute Canada Paddy Hirsch Chinese government Europe twenty twenty Rafi
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

06:51 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"This message comes from. NPR sponsor state farm. Why do you need state farm renter's insurance because it helps protected the stuff landlords don't like your furniture that gets drenched by a broken pipe? State Farm Renter's insurance find an agent or get a quote at State Farm Dot Com support also comes from capital one where you can open a savings account in about five minutes and earn five times the national average. This is banking reimagined. What's in your Wallet Capital One? NA member member FDIC to discuss the topic of switching jobs we brought in our frequent jobs. Friday guest Martha Mope earlier this year. She was the director of Economic Research Research at the indeed hiring lab and she is now the manager of economic research at Schmidt Futures. That is a relatively new job for you. More the it is an extremely new for me. It has two and a half months all right so we might label you a job switcher. We should definitely label me a job. Switcher Mar- The job switcher Yup and very lucky Schmid Futures Gers But Martha's not alone. Bureau of Labor Statistics published something called the quits rate. And right now the quits rate is two point three percent which means that two point three percent of. US workers are walking into their boss's office. And saying I quit each month and the majority of them are quitting to take new jobs. That's absolutely higher than it was was a few years ago and that reflects the tightening labor market during the brutal recession. More than ten years ago the quits rate collapsed because the number of available jobs collapsed. Workers couldn't quit to switch jobs because there were no jobs to switch to but as the labor market has recovered in the decades since the quits rate has also gone up but if you take a longer term view it seems like people are still not switching jobs as much as they used to a few decades ago. The Bureau of Labor Statistics has only been calculating the quits rate since the year. Two thousand but Martha says researchers have tried to extrapolate what it would have been back in the late nineteen ninety s and it was much higher back then. Much a little bolder and it is people in all age-groups who were switching less now but as for why they're switching less the answer is we don't really know what I know it's really frustrating you know. This is a measure economists. Talk about fluidity or churn. What it really means is how much things are turning over in the economy and and a bunch of different measures of fluidity or churn have been going down over? The last two decades basically the economy has become less dynamic than it used to be in a number move ways people switching jobs at a slower pace but also a slower pace of new businesses being created each year and people moving less for their jobs but the precise is reason for all. These trends is something that economists are still working on and the pace of job switching really does matter for the overall macro economy for one thing it is a healthy not sign when a lot of workers switched jobs because obviously it shows that there are a lot of job opportunities to switch to but Martha also points to research showing that win. Worker switched jobs. Odd It also causes faster wage growth throughout the whole economy. I think about it this way. People who switched jobs mainly do it for financial reasons. We don't deny by the way there are plenty any of other good reasons why someone might switch jobs like terrible boss or an exciting new opportunity that offers a higher status a chance to expand your network of contacts etcetera her up but overall Martha says a higher paycheck is the main reason and in fact data from the Federal Reserve Bank of Atlanta. Do show that in the past year people who else which jobs have been getting bigger raises than people who have stayed in their jobs so right now wage growth for people who switched jobs is about four point three percent and for those who've stayed stay in their jobs it's about three point three percent but the gains from people switching jobs. Don't just go to the people who take those new jobs. Some of the benefits are shared with people who stay in their current jobs. So if there's someone at your company who quits for a higher paying job and people. At the company start advocating for higher wages. The employer is going to be more likely to listen since they've already seen another worker. Get lured away by higher wages and as for how much quitting your job dear listener can help you. Individually Martha has also looked at the data and research on this and the estimates kind of vary a lot but they show that in general young workers in particular people in their twenties and early thirties. Re Big big wage gains from switching. Jobs the Martha's quick to add that the gains are not just limited to the young so there's some research showing that younger workers Tennessee returns to switching switching jobs but older workers. Don't when you dive into that. That's because younger workers tend to switch jobs because they find a better opportunity elsewhere. Swear older workers ten switch jobs because there's an issue with their old job or even you know for a personal reason like family commitment and so so if you look at older workers who do in fact switch jobs because they find a better job they still see those gains. It's just that they're less likely to be switching for those reasons. This also goes just show that people should not just quit their jobs for arbitrary reasons or even because you might dislike your boss or your teammates or whatever. Hey what are your teammates. The anthem speaking in very hypothetical terms You get the big gains from jobs which ing when you really are leaving for a better job up and switching jobs can bring benefits to especially if the new job represents a kind of promotion like more status in addition to more pay or if the new job is a better fit for somebody skills skills so that worker can produce more or better stuff in their new role. Yeah this is actually something. Economists worry about in recessions is that you know we talk about it as the job ladder but that people have a harder time. Moving up the ladder and improving the match quality of their job. And that's actually something that longer. Recoveries can help workers with that they. Can you better move into a job. That's a good fit for their skills. which puts them in a stronger position when the next recession hits so that's it a decade of jobs reports in the bag? Yeah and what a decade. It's been stacey. Should we celebrate by quitting this sweet. NPR GIG no no way all right It just shouldn't make it clear that we're not GONNA do that. No that's true that's true. We do have a lot of data here that other people quit. NPR and be like. Hey Yeah exactly Netflix call us. That's right Martha Census a lot of research for this episode. So that we use until we couldn't name all of it but please go to NPR dot org slash money and we'll post links to it there. This episode was produced by Lena. Sons Gary in fact check by Naughty Lewis our editors Paddy Hirsch indicator is a production of NPR weekend.

Martha NPR Bureau of Labor Statistics State Farm Renter Martha Mope Martha Census director of Economic Research State Farm Dot Com FDIC US Schmid Futures Gers Netflix Schmidt Futures Atlanta Paddy Hirsch Tennessee Gary Federal Reserve Bank
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:59 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"Support for the indicator and the following message. Come from American Express. You wants to build your business. They can help build your business with financing solutions for eligible business business customers the powerful backing of American Express. Don't do business without it. Terms apply visit American Express Dot com slash business this message comes from from. NPR sponsor state. Farm why do you need state farm renter's insurance because it helps protected this stuff. Landlords don't like your furniture that gets drenched by a broken pipe. Pipe State Farm Renter's insurance finding agents or get a quote at State Farm Dot Com Milka real quick. Before we start the show. We should note that you you reached out to both Nike and Amazon for comment. They did not respond. Right correct But you know we wanted to know what was going on between Nike and Amazon. Here serve out to a leading analyst Omar sorry from ever core. That's an investment banking advisory firm. He is actually tracked the retail market for almost two decades. It's and he had actually a lot of things to say. The ultimate point here is that Nike believes Amazon. Needs it more than it needs Amazon. And that's why they're doing this. Omar more Saad says that Nike decided to pull out of Amazon for at least three reasons. The first reason is that over the past few years Nike started to aggressively market it directly to its customers because it wanted to be in charge of how customers experienced the Nike brand an Amazon. Just kind of fits less and less into that strategy edgy. Second reason we know everything about data and in Nike's is Amazon. Didn't share of the customer data. Nike would've liked to get from this partnership and he comes. The third reason Nike was upset. That Amazon didn't do enough to police the gray market in the sale of fakes on their platform. The Long Story Short I don't think Nike believed that Amazon. Mazang delivered the experience. They want for their consumers There was too much gray INAUTHENTIC and authorized product being sold through Amazon marketplace. You know I once bought this. You know what I thought was going to be this amazing golf bag Yeah it was a callaway golf bag which is a great brand and When I put my golf clubs in the bag the way the legs replaced it tipped over it? Couldn't stand up straight with the golf clubs in it was clearly a fake give thankfully Amazon took it back but those are the kinds of consumer experiences that people have when it's just kind of this open market wild west Cowboy for marketplace. Now some of these third party sellers on Amazon are selling fakes but a lot of them are selling genuine Nike Nike products. And they buy these products from a wholesaler and then they're expected to sell those goods those Nike goods to people only in their local areas out of their stores. But instead sometimes these sellers don't stick to that and they might go online and sell those goods anywhere and everywhere. What they've been doing is kind of on the sly fly? Changing their name and selling Amazon's third party website at a discount. That's where this grey market is coming from. It's actually Nike's own existing customers so he'll imagine Jin. That Nike was hoping Amazon. Would police these third party sellers right. Yes when Nike started selling directly Amazon they obviously had hoped that Amazon Amazon would start policing these third party sellers and also would police the fake products on their platforms. Okay and did they do enough of that. It doesn't look like they did enough so Nike's he's pretty unhappy about this and actually if you look on Amazon right now you still see that. There was a ton of Nike products. Even after Nike has pulled out of Amazon so I talked talked to Omar about it and he showed me how big this problem is. Oh that's pretty crazy. He'll look at this shoe. So this this pegase Shoe Nike Zoom Pegasus. Thirty five running shoe. The price is eighty three ninety nine ranging to two hundred eighty one twenty-one so and you really have to pick your color and your size there could be dozens dozens if not hundreds of different sellers just for one Nike Air Zoom Pegasus thirty-five running shoe. So he'll get kind of. Sounds like you know more. We're getting a little frustrated looking for that. Pegasus running shoe absolutely looking through all the shoes the different sizes it was a frustrating experience. And I think that a lot of other customers have that same experience with Nike is a brand that wants to protect how it's perceived and how the consumer experience perceives it especially in these new digital realm so to speak and today today Nike's business is all about that kind of consumer interaction about thirty percent of Nike sales volume is directly to consumers in that sector has been growing year a year after year. They're selling direct to the consumer and they're having that direct relationship for the consumer hit and they also get the customer's data. This is a total change from Nike's traditional way of doing doing business for example here's Omar Saad describing. How Nike did business like twenty years ago? It's a fascinating discussion. Because when Nike was ninety five percent wholesale their business model was you know. Do some high level brand marketings run a campaign like just do it and billboards and some TV spots And then you wait for the phone to ring. And it's one the retailers like footlocker. Dick Sporting goes. Let's have twenty thousand yellow ones in ten thousand white ones and you know. Nike dials. Up At supply chain in Asia. And you know six months later. The shoes are are being delivered to the retailers in Nike's wiping his hands and the and the retailers of the ones that are owning that consumer interaction but now things are different today. Nike wants wants to know who is the customer. Maggie knows who I am old. I am kind of income core tile. I'm in who my kids are. What sports they play? You know they can see you know through through the APP. What different kind of content interview we interact with and engage with Nike knows who you are and based on that knowledge the company will try to sell you more than the sneakers? You came to the APP for it can do this wherever you're shopping on. Nike's APP and one of their stores via Social Media Nike wants customers to emotionally nationally. Connect to its brand. which hopefully will motivate them to obviously by its products and ideally directly from Nike and not through a third party seller or the Amazon but it does raise the question? What about the convenience that shoppers love when they do go to Amazon being? What Nike's doing that? As well Nike he has two day shipping and next day shipping now but the company also offers pick up in store. So you can swing by on your way home from work and avoid the return hassle. This is one of the clear advantages into just traditional retailers. Have they already have stores near where people live. Nike has caught up in other ways as well. The company now puts tracking tags on most of its products products and it knows where every single item is at any given time and the tracking is not limited to one location Nike contract inventory across the physical stores and warehouses houses and the whole network serves basically as a gigantic distribution center. This means if you order a shoe Nike can send it to you from their own warehouse or any physical Nike store. Or whether it's in Los Angeles or in New York you're seeing retailer is finally starting to figure out how to use their store networks as a competitive advantage and everyone thought thought that the these digital disruptors we're GONNA send retail into permanent tailspin and there has been massive disruption. Let's be clear I mean the business model has changed the inventory model. How consumers shop and it's taken several years for these companies to adapt but to me it's clear they're adapting? He'll get this kind of does raise the question. Though of whether or not other the companies will also try to pull out Amazon or whether it's just a nike specific thing. I know I know well. It's hard to say because the truth is baked brands. They can probably pull it off like Nike. You have a strong connection. Direct connection to the consumer small brands. And they're gonNA pull it off. Probably not even those companies that can connects that well with consumers. Some of them may not want a lot of Amazon area. Love it Thanks so much for bringing a story. Thank you so much for having me. Today's episode indicator was produced by Jared Marcel. Fact Checker is Nadia Lewis. Our Editors Patty hearst indicator is a production of N._p._R...

Nike Amazon Omar Saad American Express American Express Dot Pipe State Farm NPR callaway golf State Farm golf Patty hearst Mazang Jared Marcel Nadia Lewis Dick Sporting
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

06:55 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"This message comes from. NPR sponsor state farm. Why do you need state farm renter's insurance because it helps protected the stuff landlords don't like your furniture that gets drenched by a broken pipe? State Farm Renter's insurance finding agents or get a quote at State Farm Dot Com support also comes from capital one where you can can open a savings account in about five minutes and earned five times the national average. This is banking reimagined. What's in your wallet? Capital one in a member the FDIC okay. The case for hope in twenty twenty starts with the labor market and with a kitten meowing. Because who doesn't like a kitten. I don't WanNa meet that person. Everybody loves KITTENS. I up jobs. Thanks Kitty the. US economy this year has been creating jobs jobs at a decent pace about one hundred sixty seven thousand jobs a month and the fact that this is fewer jobs created last year might actually just be because so many people we're already employed and so companies just have a harder time finding the people they want but even more importantly the benefits of a healthy labour market are going to lower income and middle. It'll income workers not just people who already make a lot of money for example look at wage growth for workers in the lowest paying industries. These are people who work in retail and restaurants for example. Their wages have been growing at about four point five percent a year. That is the fastest. These wages have been growing since before the great recession more than a decade ago. And these numbers I by the way it were sent to us by Nick Bunker economist at indeed thank you nick. Yeah and actually that brings us to the second reason for hope in twenty twenty people spending Ning money so long as the labor market remains healthy and people are making more money at their jobs that means that people will have more money to spend and and since more than two thirds of the. US economy is driven by people spending money that should keep the economic expansion going and this is also showing up in the numbers after you you just for inflation. People are now spending about two point three percent more money this year than they did last year and if that continues that should be enough to keep the economy growing at a healthy not pace but that is a big open question that if it continues okay well the healthy labor market continue and will people continue to have money to spend without leads us to the third reason for optimism in twenty twenty. It's the Federal Reserve the Fed time in history that that the harp is introduced the Fed. Yeah probably yeah but it's appropriate in this case because the Fed changed its approach to managing the economy this year in a big big way away. That should help the economy keep growing next year and here is how so last year. The Fed was raising interest rates to slow down the economy. It it was worried that the economy would overheat meaning that the prices of goods and services that we all by would start going up too fast but this year the Fed has acknowledged that it probably went went too far last year and it is totally changed. Its course this year. The Fed has been lowering interest rates to give the economy a boost and the chair the Fed drum pal. He has suggested that the Fed doesn't really plan to go back to raising rates for at least a while so that boost will not be taken away anytime soon. This is especially the case because inflation is so low right now so the Federal Reserve does not have to worry about the economy overheating about prices going up and chair. Jerome Powell also said that the Fed has been. I'm hearing a lot of stories about how the strong labor market has been benefiting the most vulnerable people in society people who used to have to struggle to keep a job and obviously the Fed. Would I love to keep that going and that brings us to reason for hope number four and hey can we get some enthusiasm going here. People the Fed's decision to help the economy. This year has also helped turn around one of the economy's struggling sectors the housing sector see the housing market had been in a slump for about a year and a half but with the feds signaling that interest rates would stay low into the future mortgage rates for houses have also come down because after all mortgage rates are a type type of interest rate and low mortgage rates have made it more attractive for people to buy houses and housing developers have noticed this so they've started to build new houses right right now. Permits to build new houses and construction on new houses are starting to rise quickly and this is really good news. Because the housing market has traditionally been a leading indicator for the rest of the the economy when the housing market is healthy. It tends to mean the rest of the economy will follow and finally our fifth and final reason for hope is it the slowdown in the global economy. That has been happening. Might not be as bad as economists had been expecting getting the global economy matters by the way to the US because of course a lot of American companies sell goods and services to people abroad so if economies abroad Roger doing well then those people can buy more American made stuff so when the global economy struggles American companies and American workers will suffer some of the consequences us throughout most of this year economists and analysts have been disappointed by how weak global economy is Ben and they've expected that weakness to last into next year but now there are some signs that maybe their pessimism went a little too far for just one example the overall amount that countries trade with each other that's called global trade volume that has started growing again after it had been falling all year. So that's it five reasons for hope in twenty twenty and listen people necessary caveats coming here we need need to. We need to show you want to know that we're not naive that we know there's a lot of caveats. Listen job the creation. It is good but it did slow down this year. Who the early signs of a turnaround in housing market or the recovery in the global economy? Might not last. I'm in the fact that the Fed had to boost the economy. This year was partly the result of worrying trends like the trade wars. We know all this and you our listeners. You should know all that too but we figured for just one episode it would not kill us to focus on the positive stuff right. It's true is that such as and make the headlines quite as often right right like the. Yeah you never see a headline blindly. Things are actually pretty good. Disaster World on fire be great at the top of the F. T. Tomorrow said another pretty good day in the globe just the headline no. Yeah like man and woman go to job work well with colleagues come home watch Netflix go. What a bed? While being paid equally all right deserted indicator was produced by Lena Sons Gary fact check by Nadia Lewis. Our Editors Potty Kersh in indicator is a production of N._p._R...

Federal Reserve US State Farm Renter State Farm Dot Com FDIC NPR Netflix Nick Bunker Jerome Powell Gary Nadia Lewis Roger Ben
"state farm renter" Discussed on How I Built This

How I Built This

10:20 min | 1 year ago

"state farm renter" Discussed on How I Built This

"Hey everyone just a quick thanks to two of our sponsors who help make this podcast possible I to capital one with with the capital. One saver card. You can earn four percent cashback dining and entertainment. That means four percent milkshakes with the kids and four percent music music with your pals you'll also earn two percent cashback at grocery stores and one percent all other purchases. Now when you go out. He cash in capital one. What's in your wallet? Terms apply. Thanks also to state farm. Why do you need state farm renter's insurance because it helps protect the stuff landlords don't like your furniture gets drenched by a broken pipe or one of burglar makes off with your new laptop when you add it all up? Your stuff's probably probably worth more than you think. Make sure it's protected with State Farm Renter's insurance find an agent or get a quote at State Farm Dot Com We'd all love the holidays to be this happy stress-free joyful time but let's be real. That is not always the case. NPR's Kit is answering your holiday questions and helping you. Navigate family dynamics all season long new episodes every Tuesday and Thursday. Listen and subscribe to Live Kit all guides. Hey welcome back to how I built this guy rise. So it's around the beginning of two thousand fourteen in Tyler. Haney is working unfulfilling that big purchase order from J. Crew and the immediate problem she needs to solve is money to come up with the money up front to make eleven seven thousand units of the outdoor voices kit. My I went to my aunt and so any. I'm I said I've got this. Po you're familiar with this. Are you guys willing to invest. And and they put twenty five K.. And they were they were the first funders which was also so with that purchase order in the and and essentially a commitment from J. crew to this five hundred K.. It made it a lot easier presumably than without that video to raise that I twenty five so so how much is raised from friends and family. Yeah I think I raised within two two and a half months for hundred K.. which was more than I needed to fulfil that five hundred K.? Order as like ten thousand year twenty-five there maybe fifty yup it was small Mall Bites. Who'd you go to just? Where'd you go because a lot of people writer like four thousand bucks? How do you raise that money like? Where do you find that money so I I started Went to people that I had met in New York that I knew had been successful and had expressed intent as Kinda. They got word that I was working on October voices so I think there were three friends in New York who ended up putting between ten to twenty thousand dollars in. I started googling for or kind of seed investors and people that I could find online that put initial money into into companies and there was a guy named Calva Perry who I remember Reading a ton about and so I went to him knocked on his door and said Hey. This is what I'm doing Would love for you to put twenty five to fifty K.. Dan and he did was he was just a investor. New York Yeah. He was an entrepreneur and investor. Through just googling wow yeah again again back back to just typing in you know. Investors in New York fashion investors apparel investors early stage investors etcetera. So I think having that that J. crew order was really helpful early on because I knew that if I can figure out how to get these units produced I have a big Jack coming back at you know within five months so they were GONNA pay for it And there was no risk that they would like return unused product. And you just have to eat that. I'm sure there was I I I at. That point wasn't thinking about it. I was like eleven thousand units. We're going to get this across the finish line. Got All right. So you get the money to that factory on Monte make those eleven eleven thousand units they may be eleven thousand units and I was there in. La with them on the last possible ship day before J. Crew could cancel. Cancel the PEO- so we somehow caught it all together and we're able to produce right in the nicotine now. I remember taking the Serb blakely about fulfilling her first order for Neiman. Marcus of SPANKS. And it's actually so simple because when you're working with a big company like Neiman Marcus or in your case J. crew. There's all these things you have to documents. You have to fill and their specific requirements that you have to meet in right. It's a very complex process. You don't just put stuff in a box and ship it to J. Crew right right. Yeah from the way it needs to be tagged. There's a whole system and way of doing things so you worked very closely with Tracy J. crew to really understand what what was needed And I forgot to mention this but I knew I needed to be in La. 'cause I wasn't going to run the risk of production going off the tracks so I rented out my apartment in New York Or my room. My a bunk room found a couch to rent in Venice and ended up living with these lovely folks that I found on craigslist. And would drive every single day from from Venice to El Monte and Venice Still Monte making sure that every one of these eleven thousand units was going to be in perfect tiptop shape when they got to J. Crew Bill so when they got to J. Crew. Were they promoting the product. Like was it totally different from everything else they were selling like Howard POW. Is it going to be visible into J. crew customers. Yeah this was five plus years ago and it was really when this active wear space was starting to take off. Yeah yes blowing up into J. crew had had a lot of success with this discovery program where they brought new brands. You know to their customer and so put me on the discovery program. They did a shoot with me actually in central park in the product and then described the product and and and launched it so it it it launches J. crew and what happened had to do it did phenomenally and so I think within the first week they had already sold through through fifty percent of of the product. At that moment I was really thankful for the opportunity to to get a lot of eyeballs on on the brand but I knew okay. Now's the time to click it into gear and and start building this thing And that was two thousand fourteen. I started putting outing together. A list of larger investors that I you know had read would fund early stage companies etcetera. I worked with a friend of mine that worked worked in finance to really start to put a business model together And this deck that I would then go pitch investors in New York with all right so you've got To raise money right to really get this going. Where did you go where did you just start cold emailing potential investors? Yeah Yeah I created a list of twenty five. VC's like where like through reading tech crunch in right through asking people no and and people would raise money et CETERA. So I started emailing I still had my my student. Edu Address which was quite light. Funny it somehow hadn't gotten shut off until I for a number of these folks. I started emailing them from my Parsons Dot. Edu Address and saying hey. I'd love due to pitch you on my new idea Not Devices that I really leaned on the student card to get into these offices and you think using using your student address helped it definitely helped got me into these initial meetings. The initial meetings weren't where I got funded but these initial meetings were hugely important as as kind of practice routines to really refine my pet. I'd show up with the product shop with the deck and for the first time ever go pitch on the had coming out of Parsons as a graduate remember. Roughly what percentage of those twenty five got back to you such combined of the twenty only five. Let's see I would probably nineteen. Got Back to me which was crazy. Yeah and out of those nineteen when you start to go meet with them to any of them. Mm say this is awesome. I meant actually give you money. Oh no every every single on of those first meetings where like thank you love this things for love. Oh you had the courage to get in here but you need some there needs work. I mean I had never done this before and I knew that by getting into the room of of some of these folks I would learn a lot and I had at that time. This idea of just begin. Just begin just again so I began. What specifically were these investor saying like? We're getting feedback. Like do more of this or not enough of this or this isn't right. Yeah I mean pretty consistently the first probably five conversations. I'd get four but we have under armor Nike. Like why do we need another act of where brand SA- fair question Russian. There's Lululemon like at leisure is so saturated right. I mean two thousand fourteen. That's probably what people were saying. Yeah exactly and and what I started to piece together was. I was in offices with men and these traditional active where brands had been built by men and really catered to men so this credo in this positioning around the competitive athlete the harder better faster stronger. There was something that was familiar to the folks that I was pitching. And so what I started to recognize. Was Me over here. Pitching in this active. Where brand around play and Frene fitness from performance didn't make sense to these folks that had grown up as competitive of athletes? And what was the breakthrough. How did you finally.

J. Crew New York State Farm Renter La Neiman Marcus State Farm Tyler Lululemon Venice Calva Perry NPR Monte nicotine Haney craigslist Marcus Dan Venice Still Monte
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

08:45 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"Saudi Arabia's state owned oil company. Saudi Aramco is legendary the company owns and runs Saudi. Arabia's oilfields Aramco is is also known to be an incredibly secretive company. It bankrolls the Saudi Royal Family and it's thousands of Princes Aramco makes up most of Saudi Arabia's entire economy so when Aramco announced that it was going to go public and start selling shares of stock people went crazy exchanges. All over the world. Were doing it out out for the IPO. The New York Stock Exchange exchanges in London China Japan. Everyone wanted to be the exchange that was selling Aramco. Stock Banks were also fighting it out for or a piece of the action. There was just so much money at stake. Rumors the company's value at two trillion dollars. Which would make the biggest company in the world wealthier than Apple Assan even Alibaba and this was set to be the biggest? IPO ever but going public means the public owns a chunk of your company usually usually around twenty percent and that comes with a bunch of regulations and transparency. You have to open your books and subject yourself to all kinds of scrutiny. Saudi Aramco Coke really didn't want to do that and it's been more than a year jumping from exchange to exchange trying to find someone who would bend the rules enough that proved to be difficult and and in fact last week. Saudi Arabia announced that the search was over. It was just going to sell the shares of Aramco itself on its own local Saudi exchange which seems like such a downshift township from the initial like Neg ambitions of the ARAMCO IPO. This is the indicator from planet. Money I'm Stacey Vanek Smith Today on the show the Aramco. IPO what happens. And what does it mean for Saudi Arabia this message comes from. NPR sponsor their state farm. Why do you need state farm renter's insurance because it helps protect stuff landlords? Don't like your furniture that gets drenched by a broken pipe. State farm arm Renter's insurance find an agent or get a quote at State Farm Dot Com. Today on the show we're talking with Samantha Gross. She's a fellow in foreign policy. At the Brookings Institution Samantha. Thank you for talking with us. My pleasure happy to talk to you. Do you remember when you first heard that the Saudi government was going to start selling shares shares of ARAMCO's stock. Absolutely I saw the interview that Mohammed bin Salman did with the Economist. My first thought was literally as your Daddy. Now that you're you're talking about this because this is a really selling Saudis family jewels and I was shocked that they would go so far as to consider this. Well I remember the thing that I was so captivated by was so in an initial public offering companies have to open their books their subject. All these reviews use the ideas your companies now owned by the public. You can raise a lot of money but the other side of that is you're subject to all these regulations and everybody gets to see under the curtain like everybody. Nobody gets to see all the things and so. I was all excited at the prospect of all this information coming out about Aramco but it seems like from the very first time I heard about witnesses expected sort of a normal. IPO things changed a little. Well it's been a real trade off the reason why Mohammed bin Salman wanted to do this. It's because he wanted to sell five percent of Aramco take it public in order to get money for his vision. Twenty thirty plan to revolutionize the Saudi economy and to make it less dependent dependent on oil and so that was a serious goal that he intended to bring in serious money for however the trade off is transparency that there's never been around Saudi Aramco. Hamco this is a difficult thing for them to think about. The rewards are great but also the risks and the challenges of that level of transparency are also great. I mean you know there. There is a real upside to an IPO going public. which is you raise a ton of money? There's a real downside. which is you are exposed as a company in a Lotta ways and it is like it almost seemed like they didn't want the downside including what you just mentioned which is that? They wanted to put five percent of the company public which is like a really tiny mountain normally. It's much higher than telling five percent of the world's largest companies still a ton of money. Yes but then. It doesn't mean five percent transparency in order to sell five percent of the company. You need to do just as much much transparency if you would if you're putting the whole thing up for an IPO. And so. I think they wanted sort of some transparency. But it doesn't work that ah you need complete transparency to to publicly offer any of the company right so in in the very beginning. I mean this was going to be the prettiest girl all at the dance for lack of a better metaphor and so it did seem like one by one. The major exchanges kind of backed away and then Saudi Arabia was talking to some kind of more obscure. The exchange is part of that was because the Saudis didn't want to meet some of the requirements that those exchanges had that they really couldn't bend. I mean those requirements are there to to protect investors and so then the Saudis sort of backed away and started looking at different exchanges at looking at private placements within institutional investors and in different ways to sort of float part of the company. Get money back without this full level of transparency. That was a lot for them. Yeah this was supposed to be the IPO of the century and then became sort of progressively ratcheted down to like more and more modest goals. Well Yeah and I think it ultimately fell apart heart just last weekend actually because they had a herd of bankers. I'm not sure what you call a hurt of bankers a number of bankers murder of crows or something exactly a flock of seagulls heard of bankers. Who was who were there advising them on the IPO in these bankers came in and said if a few place this he'll publicly in western countries? This is what we think it's worth. And they came up with numbers as low as one point one trillion. I'm some up to one point point five trillion but they weren't with the kingdom was looking for and so the kingdom was very frustrated and felt like well you know. Why should we sell this company to Western investors dress for less than we think it's worth? Why don't we place it locally on the Tato of a the Saudi exchange I'm and sell it to local investors and maybe we can get more money for it but even the local bankers wouldn't put a two trillion dollar valuation on Aramco Right? No they did not. They settled at about a one point. Six to one point seven trillion billion dollar value valuation. Why wouldn't they just say yes to two trillion like that? Seems I was shocked to read about that pushback. You know. They didn't feel like they could place it at that level revel in. It's an interesting when you think about what Saudi Aramco is worth. You have to look at a couple of different things. That oil is involved in sort political skirmishes in that part the world. We saw what Iran did recently in attacking the facilities there They demonstrated that those facilities are vulnerable. And that is important to evaluation evaluation of Saudi Aramco. Oh there's no question that they can make money and no question that their oil will continue to be valuable going forward but the question is what price they'll get for that oil so if we take climate change seriously if we see the demand for oil go down on that oils likely to sell at a lower price so they clearly have a proven track record into making money and they have a lot of inexpensive well but the question is how long can they make as much money as they have in the past and so now it seems like Aramco's Ramco in this weird position of going public for a lot less money than it wanted locally Saudi exchange and apparently kind of twisting people's arms to promised to buy the stock. They want to make sure that this public offering is fully subscribed. I've also heard tell of some pressure on sort of V very wealthy people little within the Kingdom to buy stock some of the same people that the kingdom rounded up a couple years ago. And I'm put them in the Ritz Carlton for a little wiles. Shakedown like Ritz is not nearly the kind of shakedown. That that was but I think some of them are being gently encouraged to buy around cuffs graphs. Just crazy because one point seven trillion dollars still make Saudi Aramco the most valuable company in the world. It is the most valuable company in the world. The I mean this the Saudi family jewels. And if you think about the pride enjoy of your country think the engine that makes your country move and you have a thought in your your head about what that is worth. It's very difficult to sell it. For Less Alright Samantha. Thank you thank you no problem. Today's episode of the indicator was produced by Jared Marquel L. fact checked by Nadia Lewis. Editor is Paddy Hirsch and the indicator is a production of NPR..

Saudi Aramco Aramco Saudi Arabia Saudi Aramco Coke Princes Aramco Saudi Royal Family Saudi government Samantha Gross Mohammed Arabia NPR Stock Banks New York Salman Ritz State Farm Dot Com
"state farm renter" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:28 min | 1 year ago

"state farm renter" Discussed on The Indicator from Planet Money

"This message comes from? NPR sponsor state farm. Why do you need state farm renter's insurance because it helps protect stuff landlords? Don't like your furniture that gets drenched by a broken pipe. State Farm Renter's insurance find an agents or get a quote at State Farm Dot Com about two years into their stay at a Kenyan refugee camp after fleeing Somalia Mustafa Nor and his family found that they had been selected to be resettled in the US and initially they had mixed feelings so in the country select you. You're notified two years in that. Hey you know. United States has selected you and that has in the refugee camp that always comes as a great news center. Santa about bad news because Because the United States takes the longest to process innovating they have a hard process. They have hottest scrutiny. Hot above ranch aches six. And he's right. The vetting process for refugees coming to the. US is intense. There's multiple interviews and background checks and security checks by different branches of the US government. It's fingerprints tests for contagious diseases. It can take years from office family. It took a decade but eventually as with other refugees who make it through the whole process assess. The family was paired with a resettlement agency. Mustafa and his family were paired with Church World Service which has a branch in Lancaster. It's nonprofit that receives funding funding from the federal government and from private donors and it sets up refugee families with a few months of housing some counseling services food and clothing and then they tried to US find your job right away because once you around here you have to start paying your bill for the government for bringing you a lot of people. I don't know this but yes refugees payback the US government for the cost of flying here from the southwest big family. Those were not cheap flights around eleven twelve hundred per person so a family of ten ten people. You get a bill of almost ten thousand dollars. Mustafa says he found Lancaster City. Lancaster County unexpectedly welcoming to his refugee family and to other refugee families and that in fact is the city's reputation in two thousand sixteen before the trump administration started limiting. How many refugees could come to the US? The number of refugees were resettled. In Lancaster. City hit a peak of four hundred and seven as a share of the city's population. That's almost twenty three times more more refugees resettled than in the US as a whole which is why. The city was labeled the refugee capital of America by the BBC. So why is Lancaster able to resettle so many refugees. One reason is resources. For example Church World Service. The Resettlement Agency is able to partner with local organizations to provide services is beyond just the basics beyond the initial housing and food and clothes for example. There's a nonprofit that provides health care to refugees. English language tutors the school district and in universities to help with education employment programs and companies that will actively try to hire refugees and train them. She masto Prieto runs. The Lancaster Office of Church World World Service and she says that all these resources make it possible for Lancaster to accept even the hardest cases. Like when there's a huge refugee family of ten or fifteen people or when a refugee has a medical issue and can't work or if a refugee only speaks a really obscure foreign language there are no cases in this area that we that we would refuse so we do have the option when cases sent to us by our national office to say they basically. They're saying will you accept this case so we always do and it's not just tangible resources. There's something else that has given Lancaster the ability to absorb refugees. Its history starting. In the early eighteenth century entry members of the Mennonite and Amish churches were fleeing persecution in Europe and started moving to Lancaster. The county still has a huge amish mennonite population and and the value of welcoming people in need of a new home has remained Steve Noel. A professor at Elizabethtown College spoke with us at the Mennonite historical society which features exhibits exhibits about the Amish and Mennonite history of Lancaster. Well in the in the late nineteen seventies and early nineteen eighties. For example Mennonites in this area were were deeply involved in resettlement of refugees from Southeast Asia. from from Vietnam Cambodia Laos and that's that was motivated both by Christian humanitarian concerns and also concerns that as Mennonites as conscientious objectors pacifists. I am in fact Mustafa's own experience right after arriving in Lancaster reflects this my first ever job. was I worked with Amish. I used to work for a company that build moved garages and sheds so used to install windows. He did well enough at this job installing windows for these sheds that he was hired by a company called E. Impact Marketing working which provides marketing for amish companies in the area in which trained Mustafa in Web design. Mustafa would end up becoming their head web developer and then he started thinking thinking more broadly he started a company called bridge which is a website where people can sign up to have dinner in the home of a refugee family in the area. The refugee family will cook the meal and share their story and the family will also said a fever. The dinner which it gets to keep bridge charges service fee which is how it makes money. Mustafa's office original pitch for bridge. One A business plan competition which provided the funding to get started. My feature was done I was gonNA instead of instead of free training or giving refugees a new skill. Why not give them a plot from where they can on an income with what they already know and we'll have their culture under food and part one we? We explained how refugees and immigrants contribute to an economy by helping its population grow and giving new businesses more people to sell two into higher Adamo MIC. The Lancaster based economist. I says it stories. Like Mustafa's also demonstrate the more subtle ways to immigrants and refugees contribute a move into neighborhoods that others might find less desirable herbal and they start interesting businesses and they really contribute to the diversity of consumer experiences downtown and you can in downtown like stir. You can eat into Vietnamese place. You can meet on Nepalese place. There's just a huge amount of writing. Her Moustapha says his company is making money and he even has plans to expand into neighboring in York County and he adds. His story shows the symbiotic relationship between the Lancaster economy and it's refugees and it goes something like this. The success of the Economy Konami makes it possible for the city to offer resources to these refugees so that they can prosper and they're prospering feeds right back into the success of the Lancaster economy. So what happens happens is warning refugee person comes here the community. This community has done a very good job of harnessing that refugee person as a whole from employment to training to the job opportunities to internship training. So I I went through those different circles of of coming here sieving. Welcome Hi finding a stable able job and then how developing a skill. Which is the development web development using that skill to create a company? Now so it's a great circle on. It's it's a something which is very I don't WanNa say unique. What's special about Lancaster? Lancaster is now a pretty good place to get it by. This episode of the indicator was produced by Lena Sons Gary fact check by Nadia Lewis. Our Editors Paddy Hirsch in indicator is a production of NPR.

Lancaster Mustafa United States Lancaster Office of Church Wor Lancaster County Lancaster City Resettlement Agency State Farm Renter Church World Service NPR federal government State Farm Dot Com Somalia Paddy Hirsch masto Prieto Europe Santa BBC