Despite a ruling in March by the International Court of Justice that the country's whaling is not scientific, Prime Minister Shinzo Abe says he wants to resume the Antarctic hunt.
Gov. Terry McAuliffe's efforts to expand Medicaid under the Affordable Care Act have been thrown into further uncertainty by the actions of a single Democratic legislator.
The justices made it harder for residents in a handful of states to sue companies for contamination that wasn't discovered until long after it took place.
Not for the first time, I am thanking my lucky stars that I'm in radio, and that, therefore, you all can't see what I'm wearing.
Because apparently there's a new thing in mens fashion this year: A short suit. Not a suit that's cut a little bit short, but a suit in which the pants are actually shorts.
Bermuda shorts, to be sure, but still... above the knee.
J. Crew thinks people are going to pay $358 for something called "the Ludlow short suit in rope stripe Italian wool-linen."
For those of you who have said that yes, you would wear shorts with a suit -- and there were more than a couple of you -- it's time to put up or shut up.
Tweet us a picture @Marketplace... or it didn't happen.
— Marketplace (@Marketplace) June 10, 2014
The latest venture-capital investment in Uber, a mobile app that allows users to hail a ride in a town car or taxi, pegs the company’s value at more than $18 billion. That's more than United Airlines or Sony, just shy of what car-rental Avis and Hertz are worth together. That may seem high for a company with direct competition like Lyft, Sidecar and the entire taxi industry.
For Uber to be worth what investors are betting, the company might need to capture half of the worldwide market for taxis, says Andy Brennan, author of a recent report on that industry from IBIS World Research. “I can’t see that ever happening,” he says. “Generally taxi customers are quite price-conscious.”
A ride in one of Uber’s town cars costs more than a cab. “The average person who gets a taxi is not necessarily going to use Uber on a regular basis,” Brennan says.
However, competing with taxis isn’t Uber’s goal. The company’s CEO has identified a much bigger competitor: The personal automobile.
The idea of Americans parting with their cars may sound wild, but younger people may not feel as strong of an urge to own one. “Someone who’s 20-years-old today may be much less concerned with whether their car expresses their personality than with whether their phone or their tablet expresses their personality,” says analyst James McQuivey of Forrester Research.
He sees a future where people could subscribe to Uber like a service. Uber cars—with robot drivers, of course--may deliver their packages, or shlep their kids to piano lessons.
Ultimately, Uber may not just replace a taxi, or a car, but something that hasn’t even been invented yet. “We’ve all been waiting for that personal helicopter, that personal jetpack,” McQuivey says. “But really, you don’t need to move around as much as the stuff in your life needs to move around. And someone will help you do that much more efficiently than waiting for that jetpack.”
Maybe a company with that market is worth at least $18 billion dollars -- because the competition in that scenario is something like Amazon— currently valued at about $150 billion.
We've heard again and again that the magazine industry is dying as readers increasingly turn to websites for news and gossip. So, expect a tough road ahead for Time Inc. which has split from its parent company, Time Warner, the owner of money-makers like Warner Bros Studios and HBO.
And while Time's prospects as a magazine company may look grim, Time has something of a trump card in the celebrity magazine, "People." It is Time's top title. Although sales of People have dropped off in the past decade, the magazine, with its mix of celebrity news and human interest stories, still has a weekly circulation of around 3.5 million readers, nothing to sniff at in an age of shrinking readership.
By Shea Huffman
President Obama made an announcement Monday about a popular subject. Or unpopular really: student loans. Under the new plan, if you took out a student loan before 2007, you may be able to cap your loan payments at 10 percent of your discretionary income. That'll add millions more students to a pay-as-you go plan that was passed in 2012.
“This might impact, oh, maybe five million borrowers, but there are 40 million people who have federal student loans,” says Richard Vedder, director of the Center for College Affordability and Productivity. Then, he says, there’s the trillion dollars in outstanding student debt, in which the latest plan will barely make a dent.
Borrowers may see things differently.
“It could provide for some people, perhaps $50 or $100 a month of relief, which is, for a low income person, is material," he says.
The plan expands an earlier one and will now include students who took out loans as far back as 2007. It will also allow borrowers to apply for forgiveness after 20 years of payments.
But it doesn't apply to private loans, says Terry Hartle, senior vice president for the American Council on Education.
“The mount of money that people can borrow for an undergrad education from the federal government has not changed all that much in recent years, and the increase that we’ve seen in borrowing is in part attributable to the large number of private lenders,” he said.
Even so, Hartle says he's in favor of the new plan. But Vedder says there's a more fundamental problem. The new plan, he says, is "dealing with symptoms, not the disease -- rising tuition fees.
"What the president is proposing," says Vedders, "might be some help to past borrows, but it’s going to do nothing to deal with the problem in the future."
China's Foreign Ministry said a get-together between soldiers of the two countries on the Spratly Islands was an effort to "pick quarrels and cause trouble" with Beijing.