The weather may play havoc with the sky-watching on the East Coast, though much of the Midwest and West ought to get a good view.
Americans bought a lot of stuff last month. So much, in fact, that retail sales rose more in March than they have in any other month in the last year and a half. Eugenio J. Alemán, senior economist at Wells Fargo joins us to discuss.
Over the weekend, members of Congress fanned out across the country for a two-week Easter recess. You're thinking Mai Tais on the beach? "Probably not," says Riva Litman, a staffer with the House Republican Conference. "Especially not in Eastern Washington." In an election year, breaks from the Hill are a key time to drum up support - and money - back home.
And, in France, companies and labor unions have come up with a plan to give certain employees a daily rest from emailing, texting or other electronic communication -- an 11 hour rest. If approved by the French government the limits would apply to about a quarter-million consulting, software and other workers. The BBC's Hugh Schofield has been following the development and joins us to talk about it.
Malaysia Airlines Flight 370 disappeared March 8. More than a month later, no traces of the plane or the 239 people on board have been found. The focus remains on an area of the southern Indian Ocean.
At least a dozen people were killed and more than 2,000 homes destroyed by a large fire that wreaked havoc Saturday and Sunday in the city of Valparaiso. Some 10,000 people have evacuated their homes.
The explosion at a bus station near Abuja is thought to be the latest in a string of such attacks by the extreme Islamist group Boko Haram. More than 70 people were killed. More than 120 were injured.
Millions of people in the Chinese city of Lanzhou scrambled to buy bottled water this weekend after the city’s water supply was contaminated with Benzene. Levels of the cancer-causing chemical in the city’s tap water were discovered to be 20 times China’s national limit.
All of this comes as China is coming to grips with the environmental damage caused by decades of unprecedented growth. Lanzhou officials are blaming two explosions – one of them 27 years ago, the other 12 years ago – at oil refineries in the area.
They say these explosions caused oil to slowly seep into the groundwater, and that this sudden rise in levels of Benzene shows the decades-old oil is now contaminating the city’s water supply.
“Nearly 80% of chemical industry is built in densely populated city areas,” said Du Sha of Greenpeace China, “So this type of data shows that currently the chemical industry raises the high risk to the public health. The government should take more prevention and more supervised measures to manage these chemical industries.”
Many residents of Lanzhou say the local government should have informed the public much earlier than they did about the water contamination. The state media is now reporting that city officials waited nine days to tell the public that their water was contaminated. The Lanzhou government now says water quality in the city is returning back to normal.
A deadline set by the Ukrainian government passed without gunmen leaving sites they have seized in the eastern part of the country. But the prospect of Ukrainian troops moving in is rattling nerves.
Frazier Glenn Cross, also known as Glenn Miller, is accused of killing three people Sunday during attacks on a Jewish community center and a Jewish retirement home.
Easter the holiday is sacred, of course. But Easter the shopping season is also sacred:
"Easter is one of the biggest consumer holidays for retailers," says Kathy Grannis with the National Retail Federation. "We're expecting about 16 billion dollars to be spent on everything on candy to decorations and even new apparel."
With one small detail: just a little bit later than usual. Easter is almost a month later than last year. It's one of those movable holidays, lunar calendar and all.
But quarterly earnings do not follow the lunar calendar. Easter was in Quarter 1 last year, and this year it will be in Quarter 2. So Quarter 1 earnings – and March earnings for that matter – were lower this year compared to last. Rite Aid and Walgreens have already reported that the late Easter has reduced their front-of-store sales for March. But Easter wasn't canceled. It was just pushed back – along with those earnings.
"When financial analysts fail to recognize the shift in the holiday on the calendar, they proclaim Q1 as being burdened with poor results, and then of course Q2 everyone looks like a genius," says Mark Cohen, professor of marketing at Columbia Business School.
Do people really make that mistake? "Believe it or not they make that mistake all the time," he says.
Although this year, for many retailers, Q1 looks bad because it legitimately was bad. "The weakness of the retail economy was a direct outgrowth of a very tough holiday season," says Cohen. There was extreme discounting in Q4, and while that did manage to boost business, it did so at a tremendous price. So the late Easter helped make earnings less than stellar, "but it's not the main reason."
On the plus side, the late Easter might actually be quite helpful. Michael Polzin, with Walgreens, explains "there's a better chance of warm weather, so that helps with things like easter egg hunts, decorations; it's easier to get into the spirit of a holiday if your little girl doesn't have to wear a coat over her Easter dress."
Easter often coincides with the start of the sales season for everything from apparel to patio grills, so there may be a small bump just by virtue of people getting out and about and feeling more like spring.
Over the weekend, members of Congress fanned out across the country for a two-week Easter recess. You're thinking Mai Tais on the beach?
"Probably not," says Riva Litman, a staffer with the House Republican Conference. "Especially not in Eastern Washington."
Her boss, Congresswoman Cathy McMorris Rodgers, made the long trip back to Spokane to talk to voters about issues like the economy and healthcare reform—and to host a few campaign events.
"It's not much of a recess for the members of Congress. They're just in their own districts as opposed to in the capital." Litman adds.
In an election year, breaks from the Hill are a key time to drum up support - and money - back home.
There is $62 billion in outstanding debt belonging to parents who’ve borrowed federal Parent PLUS loans to send their kids to school. The Department of Education is considering tightening the loans’ eligibility criteria, amid concern it’s been too easy for low- and moderate-income parents to get in over their heads.
But the last time it did that, it set off a firestorm.
The thing about Parent PLUS loans is they’re not based on income. Pass a credit check, and you can borrow up to the full cost of attendance. Parents don’t have to prove they can actually repay their loans.
“At the time, I was happy to get it,” says 56 year old Barbara Jones of Boston, who took out more than $100,000 in loans she now says she can’t afford.
“Because then if you didn’t get that, then what would you do?” she asks. “You know, how would you keep your child in school, how would you pay it if you didn’t have any other option than the Parent PLUS loan?”
Jones’s son graduated from Pace University last year. Now mother and son are both in debt for the same degree.
Of course, millions of parents take out PLUS loans; they’re a tool to promote college access. The average outstanding balance is $20,338, according to the Department of Education.
But policy analyst Rachel Fishman with the New America Foundation worries it’s too easy for low and moderate income families to borrow too much, as they try to give their kids a better life.
“That really puts the federal government in a dangerous position of telling them, ‘Sure you can do that,’” she says. “'You can mortgage your future. You’re really close to retirement and we can garnish your Social Security, but fine, we’re gonna to let you take on a loan for $20,000, $30,000 dollars.’”
“We absolutely don’t want parents to get in over their head,” says Cheryl Smith, who works with the United Negro College Fund. “That’s why we think there should be a counseling program. At the same time, we don’t think we should be paternalistic.”
UNCF helps minority students get to and through college. It also lobbies for the private historically black colleges and universities. HBCUs have a lot of low and moderate income students, and Smith says thousands were affected when the government toughened the credit check for Parent PLUS loans back in 2011. She says enrollment fell at some private HBCUs , and HBCUs generally lost millions in revenue, “Directly attributable to fewer students being able to get a Parent PLUS loan.”
Even though parents still don’t have to prove they can repay their PLUS loans, Smith says it’s now too hard to get one.
Still, the larger community is conflicted. Johnny Taylor heads the Thurgood Marshall College Fund, which represents the publicly supported HBCUs. He thinks, at a certain point, Parent PLUS loans should be capped.
“Heretofore we have said to students, ‘Pick the school that you want to attend.’ And frankly the narrative may change to pick the school that you can afford to attend,” he says.
It’s a narrative unfolding within the Department of Education too, which is considering changes to the rules this spring.Shea Huffman/Marketplace
By Shea Huffman/Marketplace
Just in time for tax season, the IRS released its first set of rules for Bitcoin. As the cryptocurrency has gotten bigger, there's been a lot of speculation over how best to use it.
One idea involves computer-to-computer transactions. Take email, for example.
"An example might be if it were really easy to attach a tenth of a penny to every email you send, it wouldn't add for the normal emailer very much. In fact you'd be getting a tenth of a penny as you get emails from people. So it'd basically be a wash. But if you're a spammer...looking to send out a billion emails to people and hope that one of them answers, having them attach a tenth of a penny to each of those emails would not make that cost effective anymore."
Aside from its function as a currency, the way in which Bitcoin functions could serve as a model for how the internet could become more efficient. In this example, provided by Jonathan Zittrain, co-founder of Harvard's Berkman Center for Internet and Society, the ease with which cryptocurrency is exchanged is used to deter spammers. It's an idea that some feel is an inevitability. Zittrain points to the the public journal that records the path of every bitcoin, and how this kind of practice could apply to other kinds of data.
"For my part, I think the interest in a distributed public journal of stuff could be used for all sorts of purposes that don't have to do with the exchange of currency. There might be ways to use bitcoin-style journaling so that when a company transfers sensitive data, it gets journaled over. And there'd be a way then for me to see where it's been. Then if it actually should leak, I can trace the source of the leak."
A deadline for pro-Russian gunmen to leave government buildings in eastern Ukraine and surrender weapons passed early Monday. There was no immediate sign of any action to force the insurgents out.
The discovery of seven dead babies in cardboard boxes in a Utah garage has police desperately seeking answers about how such a tragedy unfolded over a decade with no one noticing.
The man accused of killing three people in attacks at a Jewish community center and Jewish retirement complex near Kansas City is a well-known white supremacist.
Crews will for the first time send a robotic sub into the Indian Ocean. It's trying to determine whether signals detected by sound-locating equipment are from the missing Malaysian jet's black boxes
What we think about food may change how our bodies respond to it. Sip what you think is a rich milkshake, and your body acts as if you've had a fatty treat, even if it's really a lower-calorie drink.
Gold is not just about ornamentation in India. It's an insurance policy against bad economic times and bad marriages. Enterprising Indian women are using it to get loans to start small businesses.
Business is booming for recreational marijuana dispensaries in Colorado, the first of their kind in the nation. Their success has tightened the commercial real estate market and raised warehouse rental rates, in what may be a sign of things to come for other states.
The shortage of warehouse space is particularly acute in the Denver region, where the vacancy rate has dropped from 6.1 percent to 4.2 percent in 2013. Since January, when Colorado became the first state to legalize recreational pot, dispensaries have been gobbling up warehouses to meet strong demand. So strong, in fact, that some dispensaries have been forced to ration their supplies.
“We used to see approximately 100 people through our store every day. Now, we’re seeing approximately 300 people through our store every day,” says Luke Ramirez, co-owner of the Walking Raven dispensary - one of the first medical marijuana shops in Colorado to start selling recreational pot.
Dispensaries can’t buy pot from outside providers, so they need warehouses to grow all of their own supply.
“We have seen a dramatic increase in people who are looking for warehouse space, and a dramatic decrease in the amount of available warehouse space in Colorado, and especially in the metro Denver area,” says Taylor West, a spokesperson for the National Cannabis Industry Association. “Warehouse space that for some amount of time may have been difficult to sell, or harder to lease, are now in high demand in the area.”
Landlords have been asking for increasingly higher rents. Ramirez, who pegs the current rent for one of his two warehouses at $20 per square foot -- the national average is $5 per square foot -- has been shopping for a third warehouse. He has seen more than a dozen properties. But so far, he says his insistence on due diligence, to have properties inspected and assessed, means he has been slower than his competition and lost out. In other instances, Ramirez found the landlord’s demands simply too expensive.
“They want too much sometimes. They want a right to our profit sharing. It can become a much more complicated deal than just simply a tenant, landlord lease,” Ramirez says.
The rise in warehouse rental rates is not uniform across the Denver industrial real estate market. It has been particularly acute for Colorado’s marijuana industry, because of its needs for particular kinds of warehouses that have the proper zoning, location, and potential to meet the high electricity demands of a pot growing operation. But, as prices have risen and supplies dwindled, other industries that require warehouses have begun to feel the impacts. Denver’s commercial real estate agents report a very tight market and rising rents for all kinds of warehouses.
“Everything I’ve read and heard from realtors is, it’s not only about fully leased, but also leasing at a little bit higher rates than in our history,” says Kelly Brough, CEO of the Denver Metro Chamber of Commerce.
Alaskan voters will decide in a ballot measure this summer whether to become the next state to legalize recreational marijuana. Taylor West expects to see a similar story for the commercial real estate industry there, and in other states that have legalized pot.
“Each state is handling the regulations around growing slightly differently. So, it depends on the cultivation rules that are being put in place," West says. "And in some of these cases, either the state is involved in the growing or is pinpointing the areas where the grows can happen, but regardless, it’s going to be an area that continues to need more space."
Kiev government to deploy troops in Ukraine's east