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Chancellor Merkel goes to Washington

Thu, 2014-05-01 06:16

German chancellor Angela Merkel will meet with President Obama on Friday to discuss possible economic sanctions against Russia. But Germany's business relationship with Russia complicates the situation.

"So far, Germany seems to have supported the latest EU sanctions, which are targeting far more political officials. But not, like the U.S. sanctions, targeting specific businesses," says Angela Stent, director of the Center for Eurasian, Russian and East European Studies at Georgetown University.

Germany depends on Russia for about a third of its energy needs. And Germany is also Russia's biggest trading partner in Europe.

"There are more than 6,000 German companies that are actually operating, producing in Russia," says Anders Aslund, a senior fellow at the Peterson Institute for International Economics. "The German business community is very strongly opposed to sanctions against Russia."

AT&T reportedly pursuing acquisition of DirecTV

Thu, 2014-05-01 06:13

AT&T is reportedly discussing an acquisition of DirecTV, according to a story in today’s Wall Street Journal.

Comcast already has a $45 billion merger pending with Time Warner Cable -- it’s being scrutinized for anti-trust implications by the Federal Communications Commission. Comcast would end up with 30 million subscribers if the merger is approved. AT&T would reach approximately 26 million pay-TV subscribers with DirecTV, the biggest satellite TV provider, ahead of rival Dish Network. DirecTV could cost $40 billion to purchase, according to the Journal.

A merged Comcast-Time Warner Cable would become the nation’s biggest cable company (Comcast already has the largest number of subscribers), and would also be a dominant player in the broadband internet market. AT&T already has a mid-sized pay-TV business, as well as delivering video to its large mobile-phone subscriber base. If AT&T were to absorb DirecTV, it would have a bigger national footprint for delivering mobile television and video to smart-devices.

Regulators and lawmakers are scrutinizing the proposed Comcast-Time Warner deal. An AT&T-DirecTV deal, if it happened, would likely raise significant antitrust concerns as well.

On the plus side, AT&T could argue that a merger will enable the company to better compete with a new cable-broadband internet giant, Comcast-plus-Time-Warner. On the other hand, fewer pay-television providers nationwide would shrink the competitive playing field and leave consumers in many markets with few providers to choose among, says technology analyst Carl Howe, vice president at the Yankee Group.

“The FCC is faced with a very difficult choice,” says Howe. “They can try to prohibit such mergers, which leaves a lot of smaller companies that may not be terribly competitive in the market. Or, they can allow these mergers and end up with monopolies. Neither choice is necessarily great for consumers.”

Howe says we could end up with a big-three of internet-telephone-cable-TV companies in the end -- Comcast, AT&T, and Verizon -- just like there were once three over-the-air broadcast networks -- ABC, NBC and CBS -- that dominated media delivery to American households. The new media-telecom behemoths could bundle all their services together for one low -- or not so low -- price, says Howe.

Google heads to Hacker School

Thu, 2014-05-01 04:44

There's an urban legend in the tech community that goes like this: The School of Computer Science at Carnegie Mellon University used to keep track of how many of their undergraduates were men named Dave versus how many were women. And it was considered an accomplishment when they got the ratio down to one Dave for every woman. Here is the latest installment in our series about the tech industry's diversity challenges called “I am not a Dave”.

Hacker School is not as dangerous as it sounds. In fact, it is a 12 week program based in New York which takes 60 participants who want to learn how to be better programmers. Students work on everything from developing their own operating system, to designing apps, to understanding the tools that make complex integrated circuits. Rose Ames is one such student.

Ames is from a small, rural town in Ontario, Canada with a population of only about 700 people. She found a love of math and programming through MOOCs (Massive Open Online Courses), and eventually learned enough to apply and be accepted to Hacker School. Participants attend the program for free, but New York is not an inexpensive place to live. Ames, a mother of four, says she would not have been able to attend were it not for the $5,000 grants given to qualified female programmers by Google. It's part of an effort to address the notorious imbalance of men and women in the tech industry.

For her part, Ames does not think that getting the tech industry to hire more women would drastically change how things are done. To her, it just makes sense that if companies want to have the best programmers, they have to open the field to as many candidates as possible:

"I think you have to judge each person on their own merits. I don’t think you’re going to see a huge difference in tech by getting it to be 50 percent female, except of course overall you’re choosing from a bigger pool so you’re going to have more talent available to you."

Health care for foster youth, if they can find it

Thu, 2014-05-01 04:32

Just a few months ago health care navigators wanted desperately to get young people to sign up for the Affordable Care Act. There was an all-out advertising blitz aimed towards young people between the ages of 18 and 34 to get them to sign up for health insurance.

More than 6 hours of Obamacare commercials on YouTube? That smells like desperation. 

But it seems like everybody forgot something. Not LeBron James, not  Zak Galifianakas, and not JLo's mom or the other famous people who made commercials for Obamacare mentioned the part of the law that lets young people who aged out of foster care sign up for extended Medicaid, and keep it until age 26. 

Kimberly Waller researches the ACA and foster care. She says the provision came about as an issue of fairness. "Advocates started realizing hey, what happens when the state's your parent?" she says.

When the state is your parent, you should now be able to get on their plan -- that's Medicaid -- until age 26. But states don't have to do any outreach about the provision. Waller says many young people don’t know they’re eligible, and that, "a right is only empowering if you know about it."

Kamille Tynes aged out of foster care in Michigan. She’s 23 now and in college. She’s good at navigating the ins and outs of government programs. Even she found the process confusing.

"I initially applied through, what is it, the market health care something website," she remembers.

That would be the heathcare.gov. Every state is different, but in Michigan, kids who age out of foster care need to apply for healthcare through the agency that runs foster care. (It's not an intuitive process. If you need it, here are tips and a more detailed walk through the application).

For her part, Tynes just kept trying to apply. "I was told how you mention that you were in the foster care system and you aged out," she says. But, "I got denied."

She's not really sure why that happened, because she does qualify. Tynes just wants to go to the doctor and not rack up debt to do it. Former foster care youth like her have a lot more health care needs than others their age. But Tynes hasn't been to the doctor in over two years.

In Michigan, foster care advocates are working to draw attention to the glitches in the sign up process. Tynes did end up getting some help on her application from an advocate she knows.

It made a difference. Kamille Tynes sighs and says she's "finally!" insured. But she also laughs happily as she mimes holding her new health insurance card up high. She's already made her first doctor's appointment. 

How LinkedIn is trying to stay afloat

Thu, 2014-05-01 03:46

Twitter's stock hit a new low this week, and it seems that right now Wall Street doesn’t have much love for the social-media sector. Despite revenue growth, the sector is seeing a slowdown in users signing up and in advertising sales.

Could LinkedIn weather the storm better than its competitors? 

One a chunk of its revenue comes from corporate recruiters and member fees. 

But Geoffrey James says he thinks LinkedIn is safe because it focuses on what nearly all of us do: work. "And that's its beauty," he says. "It's work. It's the lack of the funny cat pictures," he says. 

Sharing cat pictures may come and go, but sharing who we are as workers, James says, has staying power.

When the best advice comes from the worst sources

Wed, 2014-04-30 13:56

Would you trust business advice from a CEO that watched his company go bankrupt? Or relationship advice from someone who was accused of murdering their spouse?

Zac Bissonnette, author of the book "Good Advice from Bad People", says there are plenty of people who think they can give this type of advice through speeches or books. Usually, it’s when these people are at the height of their careers. And sometimes, they speak too soon.

"It just struck me about a year ago, how easy it is to become an inspirational icon or a self-help expert and that kind of thing," says Bissonnette. "And how often, the people who we look to for wisdom are terrible at following their own advice."

While in the process of writing, Bissonnette noticed a trend in his research.

"Most of the CEOs that I found were cultivating personality-driven brands right at the apex of their careers, right before it all goes to hell," says Bissonnette.

But the desire for self-help books, guides and products in our modern society is significant. Despite the recession in 2008, America spent $11 billion on self-improvement products.

"In our desperate need for motivational figures, we make almost no effort to vet them," says Bissonnette.

Who wants to be bigger than the U.S.? Not China!

Wed, 2014-04-30 13:52

A new World Bank report suggests China's economy could surpass America's this year (by one measure, at least). But far from taking a triumphant tone, China's government is rejecting the numbers. Chinese leaders are wary about how their country's rise to the top could increase pressure on them to make concessions on carbon emissions, trade policy, currency and international aid.

There's another reason for China's muted response to this news: trumpeting strong growth numbers likely wouldn't be well received by the hundreds of millions of Chinese still living in poverty.

"The Chinese government usually reacts in a very quiet way," says Yale University finance professor Zhiwu Chen. "They realize that China overall, it's still a developing and a poor country."

All this is not to say that Chinese officials aren't privately excited about economic growth. Just don't look for any champagne, or Moutai toasts on camera.

Create Infographics

Mark Garrison: China tends to downplays news like this because of global politics, says Peterson Institute senior fellow Nicholas Lardy.

Nicholas Lardy: It certainly puts pressure on them to do more in the international arena.

When the numbers say you’re a bigger deal, other countries push you harder to give aid, change trade policy and stop screwing around with your currency. Dartmouth business school associate dean Matt Slaughter explains that rising in the ranks also brings attention to Chinese industrial pollution.

Matt Slaughter: The faster is China’s growth, the more the world legitimately looks to China for any meaningful carbon reduction.

China also worries about how economic news plays domestically, where hundreds of millions still live in poverty. Yale finance professor Zhiwu Chen says trumpeting growth numbers wouldn’t go over well at home.

Zhiwu Chen: The Chinese government usually reacts in a very quiet way, because they realize that China overall, it’s still a developing and poor country.

Remember, Lardy adds, China tops another important chart.

Lardy: All of the measures are in a sense a little bit artificial, because they’re a function to a considerable extent of the fact that China has 1.3 billion people.

Spread over its giant population, the swelling GDP isn’t much per person. Now all this doesn’t mean Chinese officials aren’t excited about economic growth, says Milken Institute managing director Perry Wong.

Perry Wong: To be ranked #1, they may celebrate in private.

But any champagne, or Moutai toasts won’t be done on camera. I'm Mark Garrison, for Marketplace.

New York parents opt out of high stakes tests

Wed, 2014-04-30 13:37

Last year, Amelia Costigan watched as her twin sons and their fourth-grade classmates prepared for the new state tests. It was the first year New York’s assessments were based on the Common Core, the nationally standardized curricula that many states have adopted in recent years. And, a lot was at stake in New York. The kids literally worried themselves sick. 

“My kids had trouble sleeping,” Costigan says. “Other kids had stomach aches. Kids were going to the doctors, and the doctors were saying it looked like it was stress from the test.”

The tests determined whether her sons advanced to the next grade, or got into a top middle school. Scores also played into teacher evaluations and school rankings. This year, Costigan and the parents of eight other kids at her school decided they didn’t want their kids to participate. 

“It was a hard decision that some of them had. They cried. They worried they weren’t going to go to graduation, but in the end, all 10 kids opted out,” she says. 

Parents’ groups estimate about 1,000 kids in New York City won’t be taking the Common Core assessments this year. Statewide, it’s about 35,000. Those numbers are hard to verify and they represent just  a tiny fraction of the total number of kids sitting down for the math tests this week.  

But opting out is the most drastic—and visible—part of a growing protest movement in New York and nationwide. Parents, teachers, and other critics have been holding rallies, trying to put an end to the standardized tests. 

Dan Bobkoff/Marketplace

At a rally in Lower Manhattan last week, Liz Rosenberg says her fourth grade daughter wasn’t scared of the tests at first.  

“She was super psyched to take it,” she says.

But Rosenberg was anything but psyched. Part of her objection is that questions and answers are not released after the test, so it’s hard for kids to know what they don’t know. She convinced her daughter that the tests are a bad idea. This year, she’s opting out. 

“It’s important to stand up. It’s important to talk back,” Rosenberg says.

Many teachers and critics believe the math is confusing and the English questions are too hard. Fourth graders are being asked to assess middle school level reading, some say.  

“We felt the questions did not actually assess whether children were reading with understanding, which we thought was really important to assess,” says Elizabeth Phillips, principal of PS 321 in Brooklyn.  

She’s not anti-testing or against the Common Core, but she say seeing the English exams turned her off. 

Phillips was also concerned that so much was riding on these tests. Like other critics, she held protests. And, to some degree they worked.  

“Up until a few weeks ago, there really was a lot at stake,” she says. 

Dan Bobkoff/Marketplace

Recently, New York officials scrambled to lower the stakes. No longer will test scores go on students’ permanent records. And, they won’t be used as the major determinant of whether kids go onto the next grade. 

Officials think that change will go a long way to placate many nervous parents.

“Knowing that the state test will only be used as one of multiple factors has eased some of those concerns,” says Emily Weiss, senior executive director of performance at New York City Department of Education

At some point, if too few students take the tests, some schools could lose funds.

That’s still far off, but with opposition to the tests mounting, New York’s fight could be coming to a state near you. 

Dan Bobkoff/Marketplace

If Clippers are for sale, what's the franchise worth?

Wed, 2014-04-30 13:35

As the next step in the public punishment of Los Angeles Clippers owner Donald T. Sterling, the NBA says it’s going to try to force him to sell his team. But this isn’t exactly a fire sale.

The traditional profit-focused reasons for buying a sports franchise are well established says Michael Leeds, a sports economist at Temple University. “I mean, you can go back to the 19th century," he says. "People would buy baseball teams because they owned a tavern nearby and they wanted to sell their beer.”

Nowadays, Leeds notes, owners are more likely to buy shares in media networks, but he says the payoff for ownership can come in different forms.

“When you own a sports franchise, you join a very exclusive club," he says. "As George Steinbrenner once said, 'Before I bought the Yankees, I was just some ship builder in Tampa.'”

Leeds says there’s a rush that comes with seeing your name in the paper, and some buyers are willing to pay a premium for that. Celebrities from David Geffen to Oprah Winfrey are reported to be interested in buying the Clippers. And all that buzz can drive prices up. While Donald Sterling  bought the Clippers for only $12 million dollars more than 30 years ago, one currenet estimate is $575 million

 

 

 

 

The shrinking board of Fed governors

Wed, 2014-04-30 13:29

The Fed’s Board of Governors is shrinking. There are supposed to be seven governors, but right now, there are just four, with three nominees awaiting Senate confirmation. And another vacancy is looming in May.

“We’ve never had a situation like we’re in now,” says Peter Conti-Brown, a fellow at Stanford law school who’s writing a history of the Fed. He says it’s rare to have so many vacancies on the board of governors.

Every MIT student just got $100 worth of Bitcoin

Wed, 2014-04-30 13:13

Two stories today  in what may well be a sign of the crypto-currency's slow rise to relevance:

  • Bloomberg is going to start tracking the Bitcoin-U.S. dollar exchange rate on its data terminals.
  •  
  • And on a more interesting note, every undergraduate at MIT is going to get $100 in bitcoins thanks to the MIT Bitcoin Club. They raised half a million dollars from alumni and "the bitcoin community." In their words, they fundraised to "spur academic and entrepreneurial activity."

Basically... every MIT undergrad just got a hundred bucks!

Only one person has gone to jail for the financial crisis

Wed, 2014-04-30 13:01

Only one banker has gone to jail for his role in the financial crisis. That person is Kareem Serageldin, formerly an executive at Credit Suisse. He began serving his 30 month sentence earlier this year.

“It’s not a conspiracy,” says Jesse Eisinger, a senior reporter at ProPublica, on why there have been so criminal proceedings. Instead, the Department of Justice was chastened by a series of court losses, and “effectively lost its ability to indict corporations or go after individuals at the highest echelons of corporate America.”

Eisinger details how the Department of Justice "lost its way" in an article for the New York Times Magazine.

In his account, the turning point was the case against Enron’s Arthur Anderson. Two years after winning the original case, the Supreme Court overturned the verdict. Eisinger says the Supreme Court “didn’t say that Arthur Anderson was not guilty of the crime that they had been indicted for, which was obstruction of justice. It revolved around jury instructions. But the Department of Justice took this as a huge black eye.”

Ever since, the DOJ has focused on crimes that are easier to win – such as insider trading cases. And they’ve been reluctant to investigate or bring charges against company CEOs.  

“The real bad actors are the top officers in companies that commit crimes," Eisinger said. "And you have to go after them successfully if you want to deter white collar crime.”

Drought puts California rice in a sticky situation

Wed, 2014-04-30 12:08

That sweet sticky rice that comes with your sushi likely came from California. The state grows almost all of the nation’s medium grain rice, and about half of it is exported.

And California's drought is expected to have a dramatic effect on rice production. Economists say the mere speculation of production losses is already driving up prices.

Ninety-seven percent of California’s rice is grown in the Sacramento Valley, including at Montna Farms, where a huge drag scrapers level fields in preparation for planting. Nicole Van Vleck says medium grain rice will grow here, which is perfect for sushi.  

“If you’re eating sushi rice in New York, or in Florida, or San Francisco you’re most likely undoubtedly going to be eating California rice,” says Van Vleck.

Van Vleck stands next to a water pump that’s flooding the field behind her.

“So this is water that’s coming from the Feather River. The Feather is just to the east of us, we divert out of the Feather,” she says.

Northern California farmers typically have plenty of water compared to those in the south, even during dry years. But not this year.

“This is the first time I know of that we cut back rice acreage because surface water allocations were cut so severely to water districts north of Sacramento,” says Dan Sumner, an agriculture economist at the University of California Davis.

Montna Farms has been in the Sacramento Valley for generations. But this is the first time a drought has caused so much uncertainty.

“It’s unlike anything I’ve ever had to deal with,” says Van Vleck. “Day to day, things change. Right now we are down 48 percent over last year.”

Rice farmers will leave 100,000 acres of their fields fallow. That’s a big deal. Van Vleck says medium-grain rice grows in just a few places around the world.

“California does export about half of their crop. And so if California is affected because of the drought, it all of a sudden changes the price of medium grain substantially,” she says.

Sumner has already seen the price increase.

“Farmers were getting between $15 and 20 for a 100 pound sack of rice,” he says. “It’s now up in the range of $25 or $30 -- or more.”

Customers have seen the price bump at Oto’s Marketplace in Sacramento, a store that specializes in Asian foods.

“A lot of the distributors and everybody went in increments. You don’t see a big price raise all at one time," says Russell Oto, the store’s general manager. “But by May or June it might go up a little bit more than what my prices are now.”

What worries rice farmers like Van Vleck the most is the possibility that California could see more dry years ahead.

“We have this wonderful system of customers that count on us each and every year,” she says. “I don’t know that they’ll all be able to be serviced this year. Someone else will fill that void. You might not get the customer back.”

And economists say that’s the danger. Suppliers might just start buying their rice elsewhere, like Australia or Arkansas. The drought may send a signal to the world market that California rice isn’t reliable.

Bikes + Salad = I've got the month of May

Wed, 2014-04-30 09:06

From the Marketplace Datebook, here's a look at what's coming up Thursday, May 1. (Really? It's May already?)

In Washington, the Commerce Department reports on how much we earned and how much left our wallets in March. It releases its personal income and spending report.

Automakers are scheduled to release sales figures for April.

The Council of Chief State School Officers says Sean McComb, National Teacher of the Year, will be honored by President Obama tomorrow at the White House.

The Senate Energy & Natural Resourced Committee discusses the events that led to last winter's propane crisis.

And it's National Bike Month. It's also National Salad Month. (Why don't we just call it Get Ready for Swimsuit Season Month?)

PODCAST: Winter came for the GDP

Wed, 2014-04-30 07:00

On Wednesday, the government reported GDP numbers. Turns out, January to March showed hardly any growth -- an annual rate of just one-tenth of one percent, way below forecasts. Spending on goods was down, but for services, like healthcare, consumer spending was up. Business investments and exports were down, so it wasn't just the weather. But analysts say more recent data suggest the current quarter will be better.

Plus, it seems like you can get everything at a Walmart—including the kitchen sink. And, now, auto insurance. Wal-Mart is rolling out a new service via its website, walmart.com, that allows consumers to shop online for auto coverage, compare premiums, and sign up for a policy all in one sitting and from a single website. It’s part of the giant retailer’s strategy to offer more financial services as it struggles to sell more to consumers in its stores, says retail consultant Burt Flickinger III at the Strategic Resource Group in New York.

“Whether it’s money transfers, or competing with GameStop on used videos, or auto insurance, Walmart is struggling to attract shoppers,” says Flickinger. “And the shoppers aren’t coming to the supercenters.”

 

Walmart wants to sell you auto insurance

Wed, 2014-04-30 06:10

Seems like you can get everything at Walmart—including the kitchen sink. And, now, auto insurance.

Walmart is rolling out a new service via its website, walmart.com, that allows consumers to shop online for auto coverage, compare premiums, and sign up for a policy all in one sitting and from a single website.

It’s part of the giant retailer’s strategy to offer more financial services as it struggles to sell more to consumers in its stores, says retail consultant Burt Flickinger III at the Strategic Resource Group in New York.

“Whether it’s money transfers, or competing with GameStop on used videos, or auto insurance, Walmart is struggling to attract shoppers,” says Flickinger. “And the shoppers aren’t coming to the supercenters.”

Flickinger says Walmart needs to do something. He says same-store sales have been down for the past five quarters. Price-conscious consumers have been struggling to afford even Walmart’s discounted prices in the prolonged economic downturn, and Flickinger says Walmart has stumbled on customer service, with inadequate staffing and understocking of its stores.

“The auto insurance adds customer continuity and frequency, and Walmart has the second-biggest IT capabilities anywhere in America, second only to the Pentagon,” says Flickinger. “Walmart certainly has the size and scale to make financial services pay off.”

Walmart senior vice president Daniel Eckert explained Walmart’s new auto insurance as an at-home or in-the-office opportunity to compare quotes from multiple insurers, and to bind (actually secure coverage based on the quote offered)—without leaving its website.

The online market is hosted at the website of Walmart’s partner in developing the product, AutoInsurance.com. Eckert says the new service will be promoted at Walmart.com, and in displays at Walmart stores. It is being launched initially in Arkasnas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Tennessee and Texas, with rollout plans for the rest of the country later in 2014.

A computer program to write your essays

Wed, 2014-04-30 05:53

A writing professor at MIT has developed a computer program that writes a college essay in one second, after you input a few key words and it actually scores pretty well on an online grading system meant for actual human student writing.

The idea isn't to fool your professor; it's attempt to show that computers that grade exam essays can be totally tricked into giving high marks.  

Les Perelmen, a recently-retired MIT professor who worked with students to develop the program, generated a sample for Marketplace on the subject of the future of education and technology.  The essay begins:

"Teaching has not, and no doubt never will be exemplary. Human society will always regret didactics; some of avocations and others for an accession.  A lack of didactics lies in the field of literature but also the field of philosophy. Teaching is the most cordially arrogant trope of mankind. "

What does it actually mean?  We're not sure, but it merited a whopping 5.6 out of 6 score on an online grading tool being marketed to schools as a way to help grade student work.  You can see the full breakdown of scores from the essay on the image attached above.

Perelmen, who is a noted critic of robotic grading, labeled the machine the Basic Automatic B.S. Essay Language Generator, or "BABEL."  He recently wrote an editorial about robo-grading in the Boston Globe and spoke at length with the Chronicle of Higher Education about his program.

The full essay generated by Perelmen's program for Marketplace can be read below if you have the stomach to make it through the whole thing:

Teaching has not, and no doubt never will be exemplary. Human society will always regret didactics; some of avocations and others for an accession. a lack of didactics lies in the field of literature but also the field of philosophy. Teaching is the most cordially arrogant trope of mankind.

Reiteration, especially for excess, masticates an interloper on exorbitantly but fallaciously truculent assassinations by instruction. If advocates renege or assure reprobation, gluttony that is situationally boisterous but is risible, sapient, and soporific with educational activity can be more reprovingly entreated. Additionally, technology, often at an utterance, can be the commencement. In my experience, all of the reprobates to our personal consequence of the dictator we countenance delineate the escapades in question. Even so, armed with the knowledge that the recondite disruption encounters establishment, most of the organisms for my precinct assent. Our personal scrutinization to the contradiction we placate howls. Education which depreciates all of the ruminations might divisively be a juggernaut on our personal sanction with the allusion we propagate as well. The countenance of diagnoses may be legerdemain but is belligerent yet somehow effortless, not cornucopia that tantalizes provocation and allocates inspections. In my theory of knowledge class, none of the agronomists at our personal scenario by the exposition we ponder embark and anesthetize reprimands which observe the response. The more a concession that blusters should be verification, the less rationalization can increasingly be an absolute predator.

As I have learned in my semiotics class, technology is the most fundamental affront of humankind. Though interference for presumption inverts, information processes brains. The same pendulum may process two different orbitals to process an orbital. The plasma is not the only thing the brain reacts; it also receives neutrinoes for conjecture with technology. Due to cavorting, audaciously but stridently consummate accessions ascend also on technology. a substantiated education changes the intercession at education.

The appendage, frequently to a tyro, taunts educational activity. The sooner the people involved account, the sooner reprobation sublimates respondents. Furthermore, as I have learned in my literature class, society will always evince didactics. Our personal exile of the adjuration we augur will be contretemps with assemblies and may presumptuously be compensation. The casuistry might, still yet, be unintentional in the way we insist or enlightenment the awkwardly and despicably predatory recrudescence but presume avocations. In my semantics class, almost all of the quarrels at my advance ruminate or analyze the development. a quantity of engineering is slight for our personal postulate on the civilization we accuse as well. The axiom aggregates dislocation, not a commencement. In my experience, many of the lamentations by our personal confluence at the account we denigrate diagnose taunts. The less palaver that culminates is petite in the extent to which we fascinate most of the adherents for the realm of reality and insinuate or should tenaciously be an accumulation, the more reprobates masticate the accumulation of community.

Instruction with agreements will always be an experience of human society. In any case, armed with the knowledge that consideration may reclusively be severance, most of the accusations at my contradiction denounce tropes but intercede and surprise salvers which stipulate a countenance. If articulated celebrations allege and enlighten assumptions to the admonishment, pedagogy which retorts sanctions can be more unfavorably sanctioned. Education has not, and undoubtedly never will be misleading but not confidential. Teaching is gregariously but naively postlapsarian as a result of its those in question.  

Economic growth in the U.S. stalled this winter

Wed, 2014-04-30 04:19

On Wednesday the government reported GDP numbers. Turns out, January to March showed hardly any growth -- an annual rate of just one-tenth of one percent, way below forecasts. Spending on goods was down, but for services, like healthcare, consumer spending was up. Business investments and exports were down, so it wasn't just the weather. But analysts say more recent data suggest the current quarter will be better.

GDP measures when money changes hands. On this program, we keep track of alternative measures. Chris Hoenig is President of The State of the USA, an outfit that's working with the government to come up with an online, interactive scorecard for how we're doing. He joins Marketplace Morning Report host David Brancaccio to discuss. 

The person managing your future, revealed

Wed, 2014-04-30 03:12

Like it or not, more and more Americans have their futures wrapped up in Wall Street. Old age once included a sizable pension paid for by the employer you retired from. But these days, many Americans have to fend for themselves by saving and investing through 401(k)s and other retirement accounts. That means putting money into the complicated and mysterious gears of Wall Street.

Liz Gross is part of that. The 31-year-old Oconomowoc, Wisconsin resident invests a chunk of her salary in a 401(k). Like many Americans, she thinks of herself as something of a novice when it comes to investing.

“I understand the basic ideas of investing and saving early,” she says. “As far as picking the stocks and the funds that I should be in, it’s not something I’m entirely comfortable with.”

That’s why she chose a target date mutual fund, a popular choice these days. The idea is investors choose the year they want to retire and the fund does the rest. (Ideally, they also check the fund’s fees first.) Each is a little different, but the basic idea is the investments become more conservative over time as the retirement date draws near.

Since so many Americans are investing this way, we thought it’d be interesting to connect Gross with the person managing her future. After we talked to Gross and learned about her investments, we called up Andrew Dierdorf, a portfolio manager at Fidelity. His team oversees nearly $200 billion dollars in retirement money, including the fund Gross has invested in. The futures of millions of American, including Gross, are quite literally in his hands.

We connected them both an invited Gross to ask him questions.

Gross: This is definitely your wheelhouse and not mine, so I kind of wanna turn the tables on you and ask how do you plan for your retirement and have you thought about investing in a target date fund?

Dierdorf: They’re my sole holding in my 401(k) account. So, I struggle with a lot of the same types of issues around making sure that I have my asset allocation appropriate as I’m moving through time. So I’m eating my own cooking.

Mark Garrison: Meet Liz Gross.

Liz Gross: I’m 31 and I live in Oconomowoc, Wisconsin. I have a 401(k) in which I invest a portion of my salary.

Her job kicks in money too. But unlike traditional pensions, she has to figure out how to invest. Alicia Munnell runs Boston College’s Center for Retirement Research.

Alicia Munnell: All the risks and responsibilities have shifted to the employee, that is, to us.

A nation of untrained investors faces choices with lifetime consequences.

Gross: I understand the basic ideas of investing and saving early, but as far as picking the stocks and the funds that I should be in, it’s not something I’m entirely comfortable with.

That’s why Gross chose a target date mutual fund. You choose the date you wanna retire and the fund changes over time to fit that. If you’re smart, you also check the fees first. Since so many Americans are investing this way, we thought it’d be interesting to connect her with the person all the way up the chain.

Andrew Dierdorf: Hi, Liz.

Gross: Hi, Andrew.

Andrew Dierdorf manages the Fidelity fund Gross has. His team oversees nearly $200 billion dollars. The retirements of millions of Americans are quite literally in his hands. So Gross wasn’t shy.

Gross: What is it that you know and what you’ve learned that makes you the person to manage this instead of me, to have me put my trust in you?

He gave the answer you might expect about his experience and the team. But then, Gross threw a curveball.

Gross: This is definitely your wheelhouse and not mine, so I kind of wanna turn the tables on you and ask how do you plan for your retirement and have you thought about investing in a target date fund?

Dierdorf: They’re my sole holding in my 401(k) account. So, I struggle with a lot of the same types of issues around making sure that I have my asset allocation appropriate as I’m moving through time. So I’m eating my own cooking.

Liz Gross felt good about her decision after the talk. Make sure you get answers too. Your job may be able to connect you with free professional advice.

Gross: I just hope other folks are having these conversations with people they trust so that we’re taken care of when the time comes to quit working and go have fun.

In New York, I'm Mark Garrison, for Marketplace.

Sizing up Donald Sterling's other business interests

Wed, 2014-04-30 02:58

Donald Sterling is number 972 on Forbes' list of billionaires, with a net worth of $1.9 billion. Forbes values the LA Clippers at $430 million, though some say they could be worth more.

The bulk of Sterling’s wealth comes from real estate -- buildings in LA.  So, will his real estate business be tarnished because Sterling has been banned from the game for racist comments?

“Yes, of course,” says Robert Baade, an economist at Wake Forest University. Baade wouldn’t be surprised if people started boycotting all things Sterling.

Any fall out will be short-lived, according to Leonard Baron, a San Diego realtor and lecturer at San Diego State.  He doesn’t think Sterling will lose any tenants. “People renting are going to be like, 'What’s the price and what’s the location?'" he says. "So I doubt it’s going to have any lasting effects at all.”

And, Baron says, if Sterling wants to sell any real estate, there are plenty of buyers willing to pay top dollar.

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