National News

What are you waiting for?

Marketplace - American Public Media - Fri, 2015-03-20 09:05

Next week, we explore the economics of waiting.

What are you waiting for? Is it a big purchase? Maybe marriage? Childbirth?

We want to hear from you. Send us an email, or reach us on Twitter @MarketplaceWKND.

Small town hopes to rescue itself by selling pot

Marketplace - American Public Media - Fri, 2015-03-20 09:04

North Bonneville, Washington, is surrounded by forests on one side. On the other is the Columbia River. 

“There is one gas station. There is one restaurant. There is a golf course. And there is the Bonneville Hot Springs Hotel,” says John Spencer, the former city administrator. Now he’s a consultant. And with some exceptions, he’s just described most of the town’s economy.

A few years ago, the town of about 1,000 people stopped watering parks and other public places to save money. And a few months ago, it started turning off streetlights to cut down on its electricity bill.

“The city is on its knees financially. They have run negative numbers in the general fund multiple months in a row because they have no retail sector here,” Spencer says. “This store could very well make a town that is otherwise going to fail.”

The store Spencer is talking about is The Cannabis Corner: the first recreational pot shop in the country run by a government.  

It opened earlier this month. Technically, the city doesn’t own it. Rather, it set up a public development authority to run it.

“In the headlines, everybody wants to say it’s a city-owned pot shop, which, I guess, I leave for the lawyers," says North Bonneville Mayor Don Stevens, who embraces the title of “The Marijuana Mayor,” right down to the personalized license plates he’s ordered for his car that read "MJMAYOR." 

"I guess technically, on some level, it is.” Stevens says there was a strong likelihood of a pot shop opening in the town anyway. So the city decided to open its own store to have more control over how it’s operated.

“Whereas if a private person came in and opened a store and it wasn’t working out in the community’s best interest, we’d have a really long, ugly path to try and straighten that situation out,” Stevens says. He says all the profits from North Bonneville’s pot shop will go back to the community, by partnering the shop with the city on projects.

“While it can’t just deposit its profit directly into our general fund, (it) can as a separate corporation, help us defray costs with law-enforcement contracts, public health and safety programs, any number of things that ultimately will have a positive affect on our bottom line,” he says.

Right now, the city’s annual budget is $1.2 million. Officials think The Cannabis Corner could eventually bring in half a million dollars in profit every year.

That’s big money here. After the timber industry collapsed in the 1990s, tourism became the county’s main industry.

Casey Roeder, the executive director of the Skamania County Chamber of Commerce, says the town’s pot shop adds another reason for people to visit.

“It’s an amenity, in my mind, just as a winery or brewery,” she says. “The cannabis store in North Bonneville just adds to that whole menu of options for folks to come and spend money.”

And Roeder says if people come here and see the region’s natural beauty and lifestyle, they just may want to move here and bring their business with them.

 

Interior Dept. Issues New Fracking Rules For Federal Lands

NPR News - Fri, 2015-03-20 09:03

The regulations, which go into effect in 90 days, establishes safety measures for wells and for drilling companies to publicly disclose chemicals used in the process.

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Iran Nuclear Talks On Pause As Deadline Looms

NPR News - Fri, 2015-03-20 08:52

With just days left before a self-imposed deadline to reach a framework agreement, stubborn gaps remain on an array of key issues.

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Fun Fact Friday: Much ado about macaroni and cheese

Marketplace - American Public Media - Fri, 2015-03-20 08:35

David Gura offered his final Marketplace sign off Friday, but not before he hosted a discussion about the week that was with Leigh Gallagher of Fortune and Sudeep Reddy with the Wall Street Journal. Listen to that above, then read about some of the best stuff we learned this week at Marketplace:

Fun Fact: It can take between $70,000 and $100,000 to keep a kennel full of racing dogs running year-round. This week, Alaska hosted the Iditarod.

We spoke to Alaska's top musher in long-distance sled dog racing history, Lance Mackey, who broke down the economics behind running races like the Iditarod. This large sum includes the cost of fuel, entry fees and food for the dogs, which costs around $5,000 every race season.

Want to run the Iditarod? You'll need a lot of scratch

Fun Fact: Kids take an average of 113 standardized tests by the time they finish high school.

This year, standardized tests are being tied to Common Core education standards, creating a divide between schools and parents. According to a Gallup poll conducted late last year, 41 percent of teachers say they view common core standards positively, vs. 33 percent of parents. Should parents let their kids decide whether to take the Common Core tests? Take our poll: 

Parents weigh the lessons of common core testing

Fun Fact: Kraft is recalling 6.5 million boxes of macaroni and cheese.

The company said numerous consumers reported finding metal pieces in the packages. While it may be too early to determine the cost of this recall, some experts warn it proves that the food-safety system in the United States is inadequate.

Kraft recalls 6.5 million boxes of macaroni and cheese

Oh, one more thing: We already miss David.

'Match Day' is a rite of passage for young doctors

Marketplace - American Public Media - Fri, 2015-03-20 08:15

Friday was a big day for young doctors across the country. It's Match Day — the day medical students find out where they will spend their residencies.

It's a competitive process. This year, more 41,000 applicants are vying for about 30,000 spots. 

Dr. Atul Grover, Chief Public Policy Officer with the Association for American Medical Colleges, says he remembers his 1998 Match Day well.

"It was really all about the envelopes," Grover says. "We went back to our groups of friends, family, sat down and everybody kind of opened their envelopes on the count of three. And I can just remember, myself, being personally elated of getting my first choice."

But not everyone is so lucky. Thousands will not be placed. A record number of young doctors applied for residencies this year, and while enrollment in medical schools is increasing, funding for residency positions has stayed about the the same, making the process more competitive.

Nigeria's President Hopes To Push Back Boko Haram In A Month

NPR News - Fri, 2015-03-20 07:47

Facing reelection in a week, Goodluck Jonathan says he thinks that all the territory seized by the extremist group can be retaken.

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Marketplace asks: Have you cut the cord?

Marketplace - American Public Media - Fri, 2015-03-20 07:38
In 2014, Time Warner Cable lost nearly 600,000 subscribers. Comcast lost 150,00 subscribers of their own service.

1.4 million U.S. households "either canceled pay-TV over the trailing 12 months or never subscribed," according to Wall Street analyst Craig Moffett.

Are you one of them? Tell us how you watch TV:

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Your Wallet: The economics of waiting

Marketplace - American Public Media - Fri, 2015-03-20 06:48

Next week, we explore the economics of waiting.

What are you waiting for in you personal economy? Is it that big purchase? Maybe marriage?

We want to hear from you. Send us an email, or reach us on Twitter, @MarketplaceWKND

Solar Eclipse Wows Parts Of Europe, Middle East And Russia

NPR News - Fri, 2015-03-20 06:28

The eclipse, total in some areas far north and partial for many others, lasted about 2 1/2 hours and was visible from South America To Asia.

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On Happiness Day, 6 Nepalis Tell How To Not Worry And Be Happy

NPR News - Fri, 2015-03-20 05:19

Nepal is a poor country. Unemployment is high. Politics is a mess. But as one resident puts it, "[We] have the ability to be happy about how unhappy we are."

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Mosque Attacks In Yemen Kill Dozens

NPR News - Fri, 2015-03-20 05:12

Suicide bombers struck at two Shiite mosques said to be frequented by supporters of the country's Houthi rebel movement.

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Despite A Wave Of Data Breaches, Fed Says Patient Privacy Isn't Dead

NPR News - Fri, 2015-03-20 05:07

Hackers may have gained access to records for 11 million people covered by Premera Blue Cross. It's the latest lapse keeping an obscure government agency that investigates the breaches busy.

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PODCAST: A grande race relations conversation

Marketplace - American Public Media - Fri, 2015-03-20 03:00

An announcement from Tesla in the I'll-believe-it-when-I-see-it category. More on that. Plus, Starbucks said this week it wanted to use its big retail footprint to foster a conversation on race in America. It hasn’t gone as planned, as critics have panned the effort as ham-handed. We look at ways companies have had success in talking about diversity and inclusion. And women with limited education beyond high school, especially single working mothers, earn less than men. They’re often shunted into minimum-wage unskilled jobs—in the Wendy’s drive-through or behind the register at Rite-Aid. At the same time, the skilled trades are begging for new recruits: electricians, welders, machinists. There are initiatives to bring women into these traditionally male-dominated professions (by labor unions, community colleges, employer groups). But it’s not an easy gig to work—with a bunch of men on a building site or a machine-shop floor.

Michelle Obama promotes girls' education in Asia

Marketplace - American Public Media - Fri, 2015-03-20 02:00

First lady Michelle Obama is traveling in Asia this week to promote a new initiative with the Peace Corps aimed at closing the education gap for girls. Around the world, an estimated 62 million girls between the ages of 6 and 15 are not in school. The Peace Corps plans to recruit and train at least 650 new volunteers to help remove the barriers to education in developing countries like Albania, Cambodia, Georgia, and Uganda.

The economic payoff can be significant, says Sarah Lynch, a senior director of the global charity Care, which will help train volunteers. "Investments in girls' education have proven to go further than any other spending in global development," she says.

Click the media player above to hear more.

 

Tesla plans to launch 'autopilot' feature this summer

Marketplace - American Public Media - Fri, 2015-03-20 02:00

Tesla announced a few software updates it’s planning for its electric vehicles on Thursday, including one where the car tracks its distance from charging stations to try to alleviate driver anxiety about running out of juice. CEO Elon Musk said that the company could push another update — autopilot — to its Model S fleet as soon as June.

While Musk said cars would be technically capable of getting from place to place without a driver having to do anything, initially this feature limited to use on highways, as neighborhoods pose safety issues given their many obstacles and variables. Eventually, drivers could also summon their cars or let the vehicles park themselves.

Mike Wall, an auto analyst at IHS, says this move echoes steps taken by other car companies and that driver-less technology is advancing faster than regulations that will govern its use.

Michelle Krebs, an analyst with AutoTrader, says driverless cars could be on the road tomorrow, but manufacturers are holding back because of regulatory concerns and questions about who’s to blame if there’s an accident. Tesla believes its autopilot feature meets current regulations. 

Michelle Obama promotes girls' education in Asia

Marketplace - American Public Media - Fri, 2015-03-20 02:00

First lady Michelle Obama is traveling in Asia this week to promote a new initiative with the Peace Corps aimed at closing the education gap for girls. Around the world, an estimated 62 million girls between the ages of 6 and 15 are not in school. The Peace Corps plans to recruit and train at least 650 new volunteers to help remove the barriers to education in developing countries like Albania, Cambodia, Georgia, and Uganda.

The economic payoff can be significant, says Sarah Lynch, a senior director of the global charity Care, which will help train volunteers. "Investments in girls' education have proven to go further than any other spending in global development," she says.

Click the media player above to hear more.

 

Silicon Tally: Where's my tax refund?

Marketplace - American Public Media - Fri, 2015-03-20 02:00

It's time for Silicon Tally! How well have you kept up with the week in tech news?

This week, we're joined by David Gura, senior reporter for Marketplace in our Washington D.C. bureau. We're celebrating his last day at Marketplace, as he leaves for Bloomberg TV.

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Starbucks' race push irks some

Marketplace - American Public Media - Fri, 2015-03-20 02:00

Starbucks new #RaceTogether campaign has set off a storm of controversy. The coffee giant is hoping baristas and customers will have a more frank discussion about American race relations. 

So what's the best way to bring up issues of diversity? Nicole Sanchez, CEO of Vaya Consulting, says Starbucks may have helped create controversy by trying to force this conversation when people are at their most vulnerable—that is to say, before they've had their morning coffee.

But Robert Raben, president of the Raben Group, says Starbucks may be onto something. Its coffee houses are so ubiquitous and integrated that they serve as de facto town halls and community centers for places all across the country. 

Freight rail is king in U.S.

Marketplace - American Public Media - Fri, 2015-03-20 02:00

Railways carry more than 40 percent of the freight shipped between U.S. cities. The U.S. freight rail system is uniquely profitable, and it's been attracting international attention. Europe, Russia, Brazil and Australia have all sent representatives here.

“There have been dozens of delegations just over the last couple of years,” says Patricia Reilly, senior vice president  for communications at the Association of American Railroads, a trade group for freight rail companies.

Reilly has met with some of the international visitors. They want to know everything, down to what stone is used for rail beds. Some come with interpreters, but Reilly says they speak a common tongue.

“They might not speak our language, but they love railroads," she says. "They love the sound of a whistle.”

Garrick Francis loves the sound of a whistle, too. He’s a lobbyist with the freight rail company CSX Transportation.  

He’s also met with the international delegations. He says they’re curious about a huge difference between the U.S. and the rest of the world. The American freight rail system is run entirely by private companies. Francis says he gets lots of questions about investment.

“So how do we have private investors," he says. "How is this a business that attracts investment from major funds or major shareholders on Wall Street and in other places?” 

But Francis gets harder questions, too, about rail congestion in places like Chicago. Freight trains have to share track with passenger trains, adding to the congestion. 

The international delegations also want to know about new safety technology freight railways have developed. Freight rail’s safety record has improved, with the accident rate down by 42 percent since 2000. Still, accidents do happen. 

“Some of these accidents with the crude oil trains have been drastic reminders that there’s still a long way to go,” says Pasi Lautala, director of the rail transportation program at Michigan Technological University. 

Lautala says, in some ways, freight rail in the U.S. is a victim of its own success, making money and growing enough to attract admirers from around the world — but still facing expensive challenges.  

 
 

 

 

 

 

 

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