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Updated: 25 min 11 sec ago

We find the defendant, :-(

Thu, 2015-02-05 01:30
80 million

How many customers are in the database for Anthem Inc., the country's second-largest health insurer. In what is being reported as the largest data-breach of a health insurer to date, tens of millions of records have been hacked from the company — the exact number is currently being investigated. The WSJ has more on what steps Anthem is taking, including offering a credit-monitoring service to customers.

7 days

How many days of paid sick leave would be granted under the Healthy Families Act, legislation being pushed for by the Obama Administration. The change could have a big impact on the lives of restaurant and retail workers; statistically, just 24 percent and 47 percent of them get paid sick days, respectively.

25 million

How many Apple TV set-top boxes the tech giant has sold in the product's lifetime, without a substantial upgrade in years. Now Re/Code is reporting that Apple is in talks with producers to start its own web-TV service, ostensibly to compete with Netflix, HBO Go, Dish's new Sling and others. It would be a big step for Apple, which has been rumored to be prepping some kind of "smart TV" for years.

3 1/2 hours

The amount of time it took jurors to convict Ross Ulbricht, "digital kingpin" behind Silk Road, the online market for drugs and illicit goods. As reported by the New York Times, Ulbricht could face life in prison. The trial included moments of digital intrigue, including when a debate broke out about an emoticon in a text read aloud to the jury.

4,160,080

About how many commuters there are in Los Angeles County, Marketplace's home base. Most leave home between 7 and 9 a.m. A cool new interactive graphic from the blog Flowing Data shows how average commute times compare in counties around the country.

$2.25 per square foot

The rent in SubTropolis, a massive underground industrial park in Kansas City, about half the rent topside. Bloomberg has a profile and gorgeous photos of the space, built into an abandoned mine. About a thousand people work in the subterranean digs. The owners are trying to figure out what to do with the millions of square feet they have yet to develop.

We find the defendent, :-(

Thu, 2015-02-05 01:30
80 million

That's how many customers are in the database for Anthem Inc., the country's second-largest health insurer. In what is being reported as the largest data-breach of a health insurer to date, tens of millions of records have been hacked from the company — the exact number is currently being investigated. The WSJ has more on what steps Anthem is taking, including offering a credit-monitoring service to customers.

7 days

That's how many days of paid sick leave would be granted under the Healthy Families Act, legislation being pushed for by the Obama Administration. The change could have a big impact on the lives of restaurant and retail workers; statistically, just 24 percent and 47 percent of them get paid sick days, respectively.

25 million

That's how many Apple TV set-top boxes the tech giant has sold in the product's lifetime, without a substantial upgrade in years. Now Re/Code is reporting that Apple is in talks with producers to start its own web-TV service, ostensibly to Netflix, HBO Go, Dish's new Sling and others. It would be a big step for Apple, which has been rumored to be prepping some kind of "smart TV" for years.

3 1/2 hours

That's the little amount of time it took jurors to reach a verdict in the case against Ross Ulbricht, alleged mastermind behind the online market known as Silk Road. As reported by the NY Times, Ulbricht could now face a life sentence in prison. The trial included moments of digital intrigue, including when a debate broke out about the use of an emoticon in a text read aloud to the jury.

4,160,080

That's about how many commuters are in Los Angeles county, Marketplace's homebase, and most of them leave between 7 and 9 a.m. A cool new interactive graphic from the blog Flowing Data shows how average commute times compare in counties around the country.

$2.25 per square foot

That's the rent in SubTropolis, a massive underground industrial park in Kansas City, about half of rent topside. Bloomberg has a profile and gorgeous photos of the space, which has been built into an abandoned mine. About a thousand people work down there, and its owners are trying to figure out what to do with the millions of square feet they haven't developed yet.

One man's mission to get 'comprised of' off Wikipedia

Wed, 2015-02-04 13:07

I guess everyone has their pet peeves.

Medium profiled the Wikipedia editor "Giraffedata" on Tuesday. The prolific wiki-contributor — real name Bryan Henderson — has made over 47,000 edits, almost always to remove the common but erroneous phrase "comprised of."

For example: "The monthly jobs report is comprised of two surveys" should read: "The monthly jobs report consists of two surveys."

Henderson has the editing process down to a science, and most take seconds. Fellow editors and Wikipedia higher-ups have praised Giraffedata's commitment to his noble task.

Insurers often take sting out of high price of drugs

Wed, 2015-02-04 12:05

California-based bio-pharmaceutical company Gilead Sciences released strong quarterly earnings Tuesday – revenues more than doubled from a year earlier and profits beat analysts’ estimates. Then, on Wednesday, the company’s stock fell more than 8 percent on the Nasdaq exchange.

The stock decline is pegged to Gilead’s telling investors that the company will offer deeper discounts in 2015 than it did last year on its most successful new drugs – Sovaldi and Harvoni – that are highly effective treatments for hepatitis C. The list price for an eight-to-12-week course of treatment with either drug ranges from $84,000 to well over $100,000.

Discounts being negotiated by health insurance companies and pharmacy benefit managers will double to 46 percent in 2015, according to the company, while discounts for Medicaid and Veterans Administration programs are expected to be above 50 percent.

These new drugs are very costly to research and test, and have an astronomical list price, says Dr. Kavita Patel, who treats patients with hepatitis  C and researches drug pricing at the Brookings Institution. But “what is advertised as the ‘sticker price’ is not what anybody really pays if you have private health insurance,” she says.

Large insurers are likely to get the best deals on these drugs and pass at least some of the savings on to their customers, she says. Many patients in those plans will only pay up to a specific limit for the drugs, and then their health plan – whether private or government-run – will pick up the rest, according to Patel. Some patients may still face very high drug costs, or hurdles other than cost, to get the drugs – including multiple screenings, approvals and delays from their health plans, she says.

Health economist Gail Wilensky, a senior fellow at Project HOPE and an administrator of Medicare and Medicaid in the early 1990s, says the market is working properly in this case to allow prices for specialty drugs to fluctuate as competitors bring new hepatitis C drugs to market. Gilead and other pharmaceutical companies try to recoup as much of their development costs as they can in the window of time before they face serious competition from rival drugs, she says.

Gilead is facing that competition. And she says charges of overpricing in this case may be unjustified. Wilensky says she believes Gilead initially set its pricing so high not only to recoup drug development costs for hepatitis C and other research, but also because successful treatment with Sovaldi and Harvoni can dramatically decrease the long-term cost of hepatitis treatment and drugs, since in many cases it cures what has been until now a devastating chronic condition.

Why Staples may be allowed to buy Office Depot

Wed, 2015-02-04 11:03

On Wednesday, Staples announced it had entered into an agreement to purchase Office Depot for $6.3 billion in cash and stock. The merger came after a concerted effort by activist hedge fund Starboard Value. But it also came nearly two decades after a previous attempt to combine the two companies. That effort was foiled by antitrust issues, but this time the outcome may be different. 

In the 1990s, the Federal Trade Commission decided that a merger between Office Depot and Staples would result in higher prices for consumers, according to Michael Keeley, an antitrust lawyer with Axinn Veltrop & Harkrider.

The rise of big-box stores and online retailers like Amazon have since changed the competitive landscape, says Robert Salomon, an associate professor of management and organizations at NYU's Stern School of Business.

Chris Christopher, an economist in charge of consumer markets at IHS Global Insight, says office supply and stationary retailer sales have been declining since 2008, and are expected to contract from $17.1 billion in 2014 to $15.9 billion in 2015 — a decline of 7 percent.

Keeley expects that Staples and Office Depot will argue that the changed competitive environment means a merger no longer allows them to control prices, but is simply about survival in a declining market. But FTC approval is never certain.

A brief history of Staples trying to buy Office Depot

Wed, 2015-02-04 11:03

On Wednesday, Staples announced it had entered into an agreement to purchase Office Depot for $6.3 billion in cash and stock. The merger came after a concerted effort by activist hedge fund Starboard Value. But it also came nearly two decades after a previous attempt to combine the two companies. That effort was foiled by antitrust issues, but this time the outcome may be different. 

Michael Keeley, an antitrust lawyer at Axinn Veltrop & Harkrider, says back in the 1990s, the FTC found Office Depot and Staples were setting their prices based on each other, and found a merger would result in higher prices for consumers. 

Robert Salomon, associate professor of management and organizations at NYU's Stern School of Business, says the years since have changed the competitive landscape, with the rise of big box stores and online retailers like Amazon. 

Chris Christopher, economist in charge of consumer markets at IHS Global Insight, says office supply and stationary retailer sales have been declining since 2008, and are expected to contract from $17.1 billion in 2014 to $15.9 billion in 2015 — a decline of 7 percent.

Keeley expects the companies to argue that the changed competitive environment means a merger no longer allows them to control prices, but is simply about survival in a declining market. But FTC approval is never certain.

Pent-up demand happily collides with new car models

Wed, 2015-02-04 11:00

Sales of new cars and trucks got off to a brisk start in January.  Low gas prices coupled with a resurgent U.S. economy are driving sales, particularly of high-end SUVs and pickup trucks. The world’s best-selling carmaker, Toyota, raised its fiscal-year forecast to a record high Wednesday, thanks to a weaker yen and strong U.S. sales.

The domestic auto market has been surging for some time. Nearly every carmaker selling in the U.S. has seen good things happen to its bottom line, partly because of operating changes made during the recession.

“The recession allowed the Detroit makers to catch up to in a lot of critical ways to their import competition, particularly the Japanese,” says Paul Eisenstein, publisher of TheDetroitBureau.com. "They were able to shed a lot of debt, they were able to drive down costs, labor costs in particular. They squeezed their suppliers, they got rid of unnecessary plants."

Pent-up demand from buyers also became a factor as many automakers rolled out a bevy of refreshed models, particularly in the high-profit, SUV and light truck markets.

"They have product in the market that they don't have to incentivize people to buy,” says Kristin Dziczek of the Center for Automotive Research. Carmakers aren’t slashing sticker prices like they used to. But Dziczek says pressure to keep manufacturing costs low couldn’t be higher.

Per-car costs are much lower now because of wage and benefit concessions by the United Automobile Workers.  But the Detroit Three will negotiate a new four-year contract later this year. And this time labor wants a bigger share.

"Workers are going to be looking for base wage increases and more money, and companies are going to be looking for cost containment and cost constraint," Dziczek says.

Wage concessions have been key to a hiring surge at Ford.  On Wednesday, the company announced plans to add another 1,550 entry-level workers to help meet demand for its new F-150 trucks.

'Fresh Off the Boat' star Constance Wu on Asians and TV

Wed, 2015-02-04 10:42

Tonight a new network show premieres that is by all accounts your typical family comedy. It features young, attractive parents raising kids in a new city. But there is one big difference that makes the show stand out. The family at its center is Asian.

More than 20 years ago Margaret Cho’s show “All American Girl” debuted on ABC, and now the network is trying again with “Fresh Off the Boat,” a loose adaptation of celebrity chef Eddie Huang’s best-selling memoir of the same name. It tells the story of Huang’s childhood in Orlando, Florida, after his family moves from Washington D.C. Constance Wu plays young Eddie’s mother, an immigrant from Taiwan.  

Wu says landing the role was a breath of fresh air for her:

“Usually I’ll be auditioning for the third lead and there will be Latina actresses, Indian actresses, African American actresses because it will be like, ‘let’s check off this box. We have our lead white girl and we need an ethnic slot.’ And I've actually been told ‘we've decided the guy’s best friend is going to be Asian so we needed the girl’s best friend to be black because we couldn't have two Asians. They want to check off their boxes, which in its own way is a kind of perverted gesture.”

Wu says she’s hoping “Fresh Off the Boat” along with ABC’s other minority-led shows “Black-ish” and “Cristela” signify changing tides industrywide:

“All the networks have always been willing to have ethnic people as the third or fourth lead or the best friend to the white person. But to actually let a black family or an Asian family carry a show, that’s something where there hasn't really been a precedent set in terms of a real financial gain. I think it’s good that they’re trying that, and I think it’s also necessary because the landscape of TV is changing.”

“Fresh Off the Boat” has faced some early criticism for stereotyping, and Eddie Huang recently wrote a piece for Vulture criticizing the show for being an "Asian sitcom for white people."  But Huang concludes by saying the show is still a positive step forward. Wu agrees:

“I’m really glad it’s happening, and it’s long overdue. There’s a lot of controversy in the Asian community about the fact that, for example, Scarlett Johansson recently was cast in the lead part for “Ghost in the Shell,” which is supposed to be an Asian female lead. And people are like, ‘Well, there is no Asian actor or actress who can carry that.’ And I understand from an investor’s viewpoint that if I want a return on my investment and I have Scarlett Johansson as my lead, I’ll probably get a bigger box office success than a no-name actor. That’s why I think our show, even if it’s not perfect, is important to the Asian community because if we do make money it’ll hopefully start the ball rolling in terms of finding that Asians can carry a show or a movie and be a box office draw, which will encourage investors to take that risk as well."

Starring in the first Asian-American sitcom in decades

Wed, 2015-02-04 10:42

Tonight a new network show premiere’s that is by all accounts your typical family comedy. It features young, attractive parents raising kids in a new city. But there is one big difference that makes the show stand out. The family at its center is Asian.

It was 20 years ago that Margaret Cho’s show “All American Girl” debuted on ABC, now the network is trying again with “Fresh Off the Boat,” a loose adaptation of celebrity chef Eddie Huang’s best-selling memoir of the same name.The show tells the story of Huang’s childhood in Orlando, Florida after his family moves from Washington DC. Constance Wu plays young Eddie’s mother, an immigrant from Taiwan.  

Wu says landing the role was a breath of fresh air for her:

“Usually I’ll be auditioning for the third lead and there will be Latina actresses, Indian actresses, African American actresses because it will be like, ‘let’s check off this box. We have our lead white girl and we need an ethnic slot.’ And I've actually been told ‘we've decided the guy’s best friend is going to be Asian so we needed the girl’s best friend to be black because we couldn't have two Asians. They want to check off their boxes, which in its own way is a kind of perverted gesture.”

Wu says she’s hoping “Fresh Off the Boat” along with ABC’s other minority-led shows “Black-ish” and “Cristela” signify changing tides industry wide:

“All the networks have always been willing to have ethnic people as the third or fourth lead or the best friend to the white person. But to actually let a black family or an Asian family carry a show, that’s something where there hasn't really been a precedent set in terms of a real financial gain. I think it’s good that they’re trying that and I think it’s also necessary because the landscape of TV is changing.”

“Fresh Off the Boat” has faced some early criticism for stereotyping, and Eddie Huang recently wrote a piece for Vulture criticizing the show for being an "Asian sitcom for white people."  But Huang concludes by saying the show is still a positive step forward. Wu says she agrees:

“I’m really glad it’s happening and it’s long overdue. There’s a lot of controversy in the Asian community about the fact that for example Scarlett Johansson recently was cast in the lead part for “Ghost in the Shell,” which is supposed to be an Asian female lead. And people are like, ‘well, there is no Asian actor or actress who can carry that.’ And I understand from an investor’s viewpoint that if I want a return on my investment and I have Scarlett Johansson as my lead, I’ll probably get a bigger box office success than a no name actor. That’s why I think our show, even if it’s not perfect, is important to the Asian community because if we do make money it’ll hopefully start the ball rolling in terms of finding that Asians can carry a show or a movie and be a box office draw which will encourage investors to take that risk as well."

Starring in TV's first Asian sitcom in 20 years

Wed, 2015-02-04 10:42

Tonight a new network show premiere’s that is by all accounts your typical family comedy. It features young, attractive parents raising kids in a new city. But there is one big difference that makes the show stand out. The family at its center is Asian.

It was 20 years ago that Margaret Cho’s show “All American Girl” debuted on ABC, now the network is trying again with “Fresh Off the Boat,” a loose adaptation of celebrity chef Eddie Huang’s best-selling memoir of the same name.The show tells the story of Huang’s childhood in Orlando, Florida after his family moves from Washington DC. Constance Wu plays young Eddie’s mother, an immigrant from Taiwan.  

Wu says landing the role was a breath of fresh air for her:

“Usually I’ll be auditioning for the third lead and there will be Latina actresses, Indian actresses, African American actresses because it will be like, ‘let’s check off this box. We have our lead white girl and we need an ethnic slot.’ And I've actually been told ‘we've decided the guy’s best friend is going to be Asian so we needed the girl’s best friend to be black because we couldn't have two Asians. They want to check off their boxes, which in its own way is a kind of perverted gesture.”

Wu says she’s hoping “Fresh Off the Boat” along with ABC’s other minority-led shows “Black-ish” and “Cristela” signify changing tides industry wide:

“All the networks have always been willing to have ethnic people as the third or fourth lead or the best friend to the white person. But to actually let a black family or an Asian family carry a show, that’s something where there hasn't really been a precedent set in terms of a real financial gain. I think it’s good that they’re trying that and I think it’s also necessary because the landscape of TV is changing.”

“Fresh Off the Boat” has faced some early criticism for stereotyping, and Eddie Huang recently wrote a piece for Vulture criticizing the show for being an "Asian sitcom for white people."  But Huang concludes by saying the show is still a positive step forward. Wu says she agrees:

“I’m really glad it’s happening and it’s long overdue. There’s a lot of controversy in the Asian community about the fact that for example Scarlett Johansson recently was cast in the lead part for “Ghost in the Shell,” which is supposed to be an Asian female lead. And people are like, ‘well, there is no Asian actor or actress who can carry that.’ And I understand from an investor’s viewpoint that if I want a return on my investment and I have Scarlett Johansson as my lead, I’ll probably get a bigger box office success than a no name actor. That’s why I think our show, even if it’s not perfect, is important to the Asian community because if we do make money it’ll hopefully start the ball rolling in terms of finding that Asians can carry a show or a movie and be a box office draw which will encourage investors to take that risk as well."

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