According to a study out of The Rady School of Management at the University of California San Diego, there's a strong connection between daily stock returns and hospital admissions. The research found that hospitalizations -- especially those for psychological conditions like anxiety and panic disorder -- rise on days when shares fall.
University of California San Diego finance professor Christopher Parsons led the study and presented the findings at the annual meeting of the American Economic Association earlier this month. He joins Marketplace Morning report David Brancaccio to discuss.
On Wednesday, retailer JC Penney announced that it would be closing 33 stores and putting 2000 people out of work. CEO Mike Ullman says this addresses "a strategic priority to improve the profitability of our stores."
The company is still recovering from an overhaul of its retail operations that went sour. Retail expert and founder of America's Research Group, Britt Beemer says watch for more retailers following suit:
You are going to see a lot of retailers, in my mind, close stores this year because they cannot go forward with more than 10 percent of their stores underperforming. And Penney’s probably had 20 percent of their stores underperforming. So you’ll even see more stores closing for Penney’s.
Britt Beemer spoke with Marketplace Morning Report host David Brancaccio.
On Thursday at the White House, more than one hundred college presidents will meet with President Obama to discuss ways they can enroll more low-income minority students. The plan is to help those students graduate on time, without massive debt loads.
One proposal on the table is to provide more personal and financial coaches.
At the Hyde Square Task Force in Boston’s Jamaica Plain neighborhood, mentor Mariah Baril-Dore helps high school senior Yoleiris Gonzalez submit her very first college application.
"Without her, I’d probably still be trying to figure out what I would be doing," says Gonzalez. "She texts me and she’s like, 'Do this, do that. Have you talked to this person? Have you talked to that person?' She’s on me, so it's very good.”
"Just showing up here every week is the least that I can do," says Baril-Dore.
And if more volunteers show up, more nontraditional students could attend college. It’s one of many ideas expected to come up at the White House today.
But some educators are skeptical about President Obama’s plan, which would tie federal financial aid for colleges to outcomes like graduation rates.
"It is very hard for us to imagine that there would be a handful of metrics that could then be used to rank institutions, given the rich diversity of American institutions of higher education," says Molly Corbett Broad, president of the American Council on Education.
Still, Broad says Thursday’s meeting is not just a dog and pony show. After all, college presidents will spend the entire day at the White House discussing how to get more low-income students to graduation day.
Listen to Kirk's extended interview with Molly Corbett Broad here:
Tonight the Atlanta Hawks are set to face the Brooklyn Nets in London, the second of two international games scheduled this season.
That's on top of eight pre-season games in seven countries last fall.
League officials have made it clear; they want to expand the brand.
University of Pennsylvania Business Professor Scott Rosner says it’s easy to understand why the NBA wants to go international.
"There's a lot of money to be made," he says.
Thanks to the Olympics and international players like Yao Ming, Luol Deng and Tony Parker, the sport has carved out a loyal following around the globe.
Today the NBA brings in about $5 billion a year in revenue.
Rosner says establishing a handful of European teams could grow that pie.
"Just do the math on it, if you figure 5 franchises, $200 million dollars a year in revenue, yeah, that's a billion dollar proposition," says Rosner.
Charles Grantham, former Executive Director of the NBA Player's Union says a roster of international teams is "a long way off."
Grantham says to expand, the league has to figure out how to minimize the wear and tear on athletes from so much travel.
And maybe more important, determine whether foreign cities can support an NBA team.
"You know you are talking about considerable investment of time and money. 8 to 10 investors, developing arenas, marketing, etc, etc, etc," he says.
Even with its deep pockets, Grantham says the NBA can't afford to launch a European division of teams only to see it fold.
Hybrids and battery-powered cars are all the rage, but some car companies are investing in an older technology: diesel. The newest vehicles are cleaner and more powerful, and some drivers report getting up to 50 mpg. So what's keeping U.S. customers from switching pumps?
A new food trend gaining popularity in New York and other cities allows diners to enjoy fine meals inside someone else's home. But the food is often just an excuse for what can essentially be a really great party with a bunch of people you've never met.
An aging tree's girth is good for the planet, scientists say, because it helps it suck more carbon dioxide out of the air. "It's as if, on your favorite sports team, you find out the star players are a bunch of 90-year-olds," one ecologist says.
Raising the minimum wage, extending unemployment benefits and attacking income inequality are all on the Obama administration's domestic agenda. And they all fall under the purview of Labor Secretary Tom Perez, who has only been on the job since July.
This variety of the drug has very little of the primary component that produces the high. Families have been moving to Colorado to get access to the therapy.
It's been 78 years since the U.S. brought home Olympic gold in the two-man bobsled event. Other countries routinely work with race car companies to improve their sleds, so the Americans decided to follow suit by teaming up with designers at BMW.