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Stock market drop is bad news... and good news

Mon, 2015-08-24 02:00

The broad global stocks sell-off is reshuffling the deck of winners and losers. And while there are serious economic concerns that arise from the sell-off, there may also be at least some short term benefits.

The sell-off hit commodities hard, including nickel, aluminum, and oil. Many experts say a slow-down in Asia, especially in China, means less need for raw materials.

But the drop in oil prices means potential cost savings for consumers at the pump, says analyst Ian Shepherdson of Pantheon Macroeconomics. "It's going to be an enormous drop in gas prices," Shepherdson says, down to as low as $2 per gallon, maybe even $1.50 per gallon within the next few weeks.

Shepherdson says areas of the Northeast, which rely on heating oil during the winter, will also see savings.

"The holiday season, as far as retailers are concerned, is not very far away. And for them, to see their customers enjoying a big cash flow boost from falling energy prices is really pretty good news," he says.

The bad news is that the commodities sell-off is too broad, based on panic, according to Shepherdson, and that could hurt other sectors in the long run, such as agriculture. 

Still, there is potentially more good news for municipal governments. Money leaving the stock market is heading into bonds.

"It certainly reduces the rate the treasury has to pay to borrow, and that may reduce the cost of both municipalities and the federal government," says Karen Petrou, managing partner of Federal Financial Analytics.

But, Petrou cautions that if bond rates get too low, that could endanger insurance companies, pensions, and people's long-term savings.

China's "Black Monday"

Mon, 2015-08-24 02:00

Airing Monday August 24, 2015:  The Chinese state media are calling today “Black Monday.” Chinese shares sank to new lows this morning, wiping out all of this year’s gains on the Shanghai market. The Composite index there closed down eight and a half percent, putting Asian and now European markets into a tailspin as investors worried about the effects of a slowdown inside the second largest economy.  We consult Marketplace China Bureau Chief Rob Schmitz on the cause of this market free fall. 

"Part of this is cyclical," Schmitz explained, "Friday is a terrible day on the New York Stock Exchange, which is in part a reaction to last week's poor performance in China's market. There's a global market feedback loop." Anther reason for the crash, Schmitz says, is Chinese investors holding out hope for a government rescue, essentially giving banks more money to make loans. But that hasn't happened yet. 

On Wall Street's reaction to this news from China, Rob says "people are worried things are about to get very ugly... but I think it's important to add that many economists are hopeful about how the U.S. economy will fare in the long run despite this Chinese slowdown." 

Click the multimedia player above to hear more Rob Schimtz in conversation with Marketplace Morning Report host David Brancaccio. 

Entrepreneur starts over in Highland Park

Fri, 2015-08-21 14:00

Carlos Valdez, 26, has spent his life in the same northeast Los Angeles neighborhood.

“I'm Highland Park for life,” he says. “Born and raised.”

For most of that time, his home has been the same apartment unit where his mother and grandfather also once lived. The thing he loves most about it?

“To be honest? It’s the parrots,” he says. The wild parrots of Highland Park, in the tree below the apartment’s window.

“They would sit there, and it would be loud. It was annoying. But you get to see them, and they're really pretty.” Green feathers, and once you get close enough, which Valdez learned to do, you notice “this little orange and red thing on their face.”

In the apartment above the parrots, Valdez became an entrepreneur. He loved computers, and as a teenager he started fixing them for family friends. “Ten dollars here, 20 dollars there. And I started seeing I could make my own business.”

Carlos Valdez (second from right) at his Highland Park shop in 2014. 

Krissy Clark

Five years ago, he set up shop in a building a few blocks from his apartment. Rent was cheap: a few hundred dollars a month. His neighbors were other small business owners who mentored him and helped him build his customer base.

 “I focused on only low income [customers],” he says, like his own family. “And I could help the community out by having low prices.”

But just as Valdez was establishing his business in the neighborhood, his neighborhood was changing around him, quickly. Low-income families have been moving away as investors buy and rehab properties across Highland Park, and raise rents to levels that often only new, wealthier residents can afford.

And then last August, Valdez got a letter from the landlord who owned his apartment above the parrots, informing him the building was being sold and giving him a few months to move out.

The place was too new to be covered by the city’s rent stabilization ordinance, which only applies to units constructed before November 1978, so there weren't many options for Valdez. He and his wife and two kids moved to a hotel for a few months before they found a new apartment — smaller and more expensive, but all they could find in Highland Park.

A few months later, Valdez got more news. He was told an investment group would be buying the building where he ran his computer repair shop. “Really? I just lost my house. Now you're telling me I'm going to lose my business?” he remembers thinking at the time. 

But Valdez has taken steps to save his business. He says he had watched so many shops around him close after their buildings were sold, and rent doubled or tripled, that he decided to take a painful but preemptive step. “I told my wife, 'We could stay here and play this game, or just move on before I run out of money.'”

Carlos Valdez's new storefront in Eagle Rock. 

Krissy Clark/Marketplace

Valdez found a new storefront, a few miles from Highland Park, and moved there recently. So far, he says business has been good. But he misses his old shop, and especially his old apartment.

He has a message for investors in Highland Park buildings and other gentrifying neighborhoods about how to treat the tenants: “Please, be kind."

Valdez says he feels lucky that he has been able to maintain his business, and that he’s found a new place to live in Highland Park. He knows many who have not. “It’s like dropping a huge boulder on your shoulders — and you’re like, ‘I already had little rocks and a sack of potatoes on top of me. Now what am I going to do?'"

But he is still trying to hold on to the neighborhood.

“I was here when it was bad. I was here when it was good. I was here when it was really bad. And I'm here when it's changing.”

One way or another, he’s says he is trying to stay “Highland Park for life.”

 

In oil glut, fewer oil rigs mean less work

Fri, 2015-08-21 13:00

The collapse of global oil prices is helping to show stock markets the way down. Over the last year, the industry that's taken the biggest hit is energy. Every company in the energy sector of Standard & Poor's 500 index is now at least 10 percent below its peak, and some much more.

The drop has been hard on the people working for those companies, too. The way to deal with too much oil is to stop drilling for it, after all. A lot of those people are relative newcomers to North Dakota who moved there to work in the Bakken oil field.

Steve Brown is one of them. He moved to the Bakken at its peak and started hauling water to oil rigs. Now the rig count is the lowest in six years. 

Click the above media player to hear the interview with Steve Brown. 

Melby's story is part of a series called "Black Gold Boom," an initiative of Prairie Public and the Association of Independents in Radio.

A check on equity-based crowdfunding

Fri, 2015-08-21 13:00

Georgia was one of the first states to open a complicated regulatory loophole back in 2011, which allowed residents to buy into local businesses--just like buying shares on the stock market. It took a few more years before the promise of "equity-based crowd funding" took hold.

But in 2013 it did, and the concept is partly the reason you can now find a Bohemian guitar on the shelves of mass-market music retailers, or in the hands of big-name performers--drawn by the unique sound and look of a metal oil can, which makes up the guitar’s body.   

Shaun Lee, co-founder of Bohemian Guitars. 

Jim Burress/WABE

Rising to this level of success has taken a lot of initiative and sweat. After all, only a few years before, Shaun Lee and his brother Adam were running Bohemian’s office, assembly line and warehouse from their dad’s basement. But Shaun had big plans.

“Initially, I was like, ‘We’re going to build guitars, bases and ukuleles,’” he says. “And I quickly realized, ‘Let’s get one product perfect.’”

A successful Kickstarter campaign pulled them from basement to bigtime. And after a several years of tinkering and adjusting, they now consider their guitar “perfection.” Both brothers feel it’s a good time to expand, which is why Shaun’s dream of a bass and ukulele is becoming reality.

At an Atlanta launch party recently, several versions of each sit on display. Lee encourages folks to pick one up and try it. He hopes they’ll be so captivated, they pluck down cash and pre-order one of Bohemian’s new instruments without hesitation.

For the brothers, it feels good to be here. But getting to this point meant taking advantage of lots of opportunities, including on equity-based crowdfunding, Two years ago, when the brothers signed on, it was little more than an unproven concept. In just a short time, Bohemian Guitars became the poster child for the movement.

“We had this really great title,” Shaun says. “We were the first company to raise funds in this manner in... decades.”

It’s actually been nearly eight decades. After the Great Depression, federal regulations largely prevented the non-affluent from buying equity in small, local businesses. But that little-known Georgia law, passed in 2011, made it possible for any state resident to invest, just like the high rollers.

"There was a lot of energy and a lot of buzz that got generated from that campaign,” says Jeff Bekiares, whose Atlanta startup SparkMarket helped raise Bohemian $200,000 in equity-based funds.

It was a lot of money. But it wasn't easy money.

Sparkmarket folks spent a lot of time explaining the concept, says Bekiares. And there were some serious, potentially costly things to consider. For example -- redoing bylaws, choosing whether to offer a preferred rate of return in order to woo investors, or deciding if shareholders get a vote on important decisions.

“This scares a lot of businesses, because they think to themselves, ‘I’m going to have 50 new investors. I already have a hard enough time managing my friends and family who are owners of the coffee shop,’” says Bekiares.

A Bohemian guitar made out of the company's signature oil can. 

Jim Burress/WABE

Those barriers, he believes, are why Georgia's only seen about 50 or 60 equity-based crowdfunding attempts.  Bekiares says you can count on one, maybe two hands the number of successes. Still, he remains the concept’s biggest cheerleader, and points out how equity based crowdfunding continues to gain steam. gaining broader support.  

“Two years ago ,there were only two states in the Union where you could do this,” he says. Now, 28 states allow it.

Looking back--with ukulele in hand--Bohemian Guitar's Shaun Lee says the exposure of launching with Sparkmarket made sense. 

"But was it the best way to raise money? Maybe not," he says.  

That’s why the brothers are back together again with regular old crowdfunding. For the next phase of their business, they’re raising money one Indiegogo supporter, and one ukulele, at a time.

Leah Chase’s 65 years in the same New Orleans kitchen

Fri, 2015-08-21 13:00

Since 1946, Leah Chase has been in the kitchen Dooky Chase's Restaurant in New Orleans. She’s served Quincy Jones, Jesse Jackson, Duke Ellington, Thurgood Marshall, James Baldwin, Ray Charles, former Presidents George W. Bush and Barack Obama, and many others.

Quite simply, she's a legend in the city. Her restaurant was flooded with 5 1/2 feet of water from Katrina and closed for two years. Now 93, she speaks with Lizzie O’Leary from her kitchen, where she still shouts out orders to her staff every day.

Click the media player above to hear Chase's story.

Weekly Wrap: plunging markets

Fri, 2015-08-21 13:00

Joining us to talk about the week's business and economic news are Cardiff Garcia from FT Alphaville and Leigh Gallagher of Fortune. The big topics this week: China's devaluing of the yuan and how that contributed to market drops; oil prices take a dip; and the overall state of the U.S. economy. 

 

In Northwest, fire officials are accepting volunteers

Fri, 2015-08-21 13:00

There are nearly 100 large fires burning nationwide, most of them in the West. They’ve burned up more than 7 million acres of land and hundreds of homes and buildings. As a result, firefighting resources are running thin. Some of the biggest active blazes are up in the rural areas of Washington state. For the first time in 10 years, U.S. soldiers have been called in to battle the fires in the West.

The need for firefighters there has become so great that for the first time in its history, Washington’s Department of Natural Resources began accepting offers from people hoping to help fight the fires or donate equipment. But is it really a good idea to send volunteers out to fight these massive, fast-moving wildfires that trained professionals have trouble containing?

People in central Washington will, almost to a person, tell you that these fires are burning exceptionally hot and spreading really fast. Joe Smiley, spokesman for the Department of Natural Resources, says it's overwhelming its crews. “We’re stretched thin throughout Washington and Oregon fighting fires as they start," he says. "And they just keep spreading.”

Fires in the Northwest

And the people of Washington get it. They want to to help. So just this week, the state decided to allow people who wanted to volunteer to fight the fires to come forward. "Our phone boss got overloaded," Smiley says. "His phone actually shut down for a bit. He listened to 29 voicemails, and in that time had another 18 arrive.”

But even though Washington is strapped for manpower, not everyone who volunteers is going to be out on the front line.

Brigette Smith, executive secretary for Washington’s State Board for Volunteer Firefighters, says being a volunteer firefighter isn't like volunteering at a soup kitchen.

“It’s not like they get paychecks, per se, but they do go through many of the same requirements," she says. "And many of the same checks that a career firefighter would go through.”

That means a background check and a physical. All volunteer firefighters have to get insurance from the state as well.

Roy Reiber, a fire commissioner in Okanogan County (the site of the most devastating fires active right now), proudly says he was a volunteer firefighter for 26 years. He thinks having all these new volunteers is good, but it might be a blessing and a curse.

“It certainly would be," he says. "Because you have to put your experienced guys keeping people out of trouble.”

The Department of Natural Resources admits this is something of an experiment. If it works and everyone stays safe, they say it might be an example of how to combat limited manpower under the strain of a disaster.

Trombone Shorty visits his childhood home

Fri, 2015-08-21 13:00

Troy Andrews, who is better known as Trombone Shorty, started performing as a child in a family and neighborhood of musicians in Treme, New Orleans.

Now he's one of the city's musical luminaries. He also started a foundation to teach young musicians how to make a living in the music business.

Andrews speaks with Lizzie O’Leary while strolling through his old neighborhood.

Click the media player above to hear the full interview.

Credit: What's in your wallet?

Fri, 2015-08-21 13:00

The world of consumer credit has been pretty bleak in the years since the economic crisis. But things are definitely looking up. According to Fair Isaac Corporation, or FICO for short, the average FICO score is 695 — the highest it’s been since 2005.  Almost 20 percent of consumers are scoring 800 or above, a slight increase over six months earlier. And fewer consumers are coming in below 550.

Basic money management, or how not to be broke: Pay your bills on time, pay down that credit card debt and seriously, do you really need those $300 boots? Everyone’s heard it. Now people are actually doing these things.

“People have been saving money, putting money in the bank, and being more careful about their use of money,” says Ed Mierzwinski, consumer advocate with the U.S. Public Interest Research Group. Also, he says it’s a lot easier now to know what’s going on with your credit. The Consumer Financial Protection Bureau has been pushing banks and creditors to give away credit scores for free. This week, American Express joined other big card companies in making FICOs available to cardholders.

“And that may be helping to educate more consumers,” Mierzwinski says.

But there could be something else boosting credit scores. Since the economy tanked, a lot of people have given up on credit.

“The economy was so poor for so long that people were reluctant to take on debt, to engage in credit use,” says Rod Griffin, director of public education at Experian.

A lot of credit card dropouts are millennials. 

"I don’t know if this is young adults seeing their parents go through some type of financial trauma, or if it’s just them being a little more risk averse,” says Carly Urban, assistant professor of economics at Montana State University.

Griffin points out that millennials’ reluctance to use credit cards might work against them. It's hard to build good credit when you don’t use credit. 

 

Examining the Gulf Coast's master plan

Fri, 2015-08-21 12:31

When you talk to some residents along the Louisiana coast about rebuilding after Katrina, they'll say it almost doesn't matter if you rebuild the area unless its protected from another storm — and like many things, that hinges on money.

The legislature came up with a $50 billion master plan for coastal restoration to take care of projects like rehabbing the wetlands, which act as a natural storm barrier. But the plan is about $20 billion short in funding.
Mark Schleifstein covers the coast and environment for nola.com, the Times-Picayune website. In 2002, he predicted what a storm like Katrina could do to the city in a piece called "The Big One." In it, he wrote: "A major hurricane could decimate the region, but flooding from even a moderate storm could kill thousands. It's just a matter of time."

He outlines the importance of coastal restoration in his recent story "New Orleans' future depends on coastal restoration, but where's the money?"

Those demands are the ones the state Legislature has recognized by supporting the state's Master Plan, a $50 billion, 50-year outline that split its proposed resources between coastal restoration and flood protection.

But even state officials acknowledge they picked the $50 billion price tag because that's the most they believed the state could raise in the first 50 years. Inflation alone has increased that price, some say, and combined with delays in the most significant projects — including major Mississippi and Atchafalaya river diversions — has likely raised the cost to at least $100 billion.

Just where is all this money going to come from? That's a key question for the future of New Orleans and most of the region.

 

Felicia Day and the guild of geek

Fri, 2015-08-21 12:21

In her memoir "You’re Never Weird on the Internet (Almost)," Felicia Day discusses her successful web series "The Guild" and how the internet has shaped her career.

Day was inspired by the “massively multiplayer online role-playing game,” World of Warcraft. She says the game is “a place where millions of people all over the world log on and play together or alone in a virtual world.” She adds the game was “very transformative for me personally, because it inspired me to start writing, and I created a show based on gamers called 'The Guild.'”

Getting her show off the ground wasn’t so easy. Hollywood executives weren’t excited about a show about gamers.

“So I couldn’t get it made and got discouraged, and a friend of mine had been making sketches for this new online service called YouTube,” Day says. YouTube was just in its infancy when she started her web series, so the concept of starting a show online was still pretty new. “I was like OK … maybe we could cut it up into pieces and make it ourselves in our garage. And that’s really where everything started.” The web series was a hit, and it gained a large fan base.

Despite the success of all her internet endeavors, she still enjoys just regular old acting.

“It is fantastic, because I get to do just one job. I mean I have signed on for the career of a million hats, and they’re stacked a mile high … that’s kind of what’s required of you in the digital world. You can’t be a specialist, I think; you have to be very broadly talented in a way,” Day explains.

When she finally ended "The Guild" and started her own company, Geek & Sundry, the burnout she felt was significant.

“I don’t think anyone talks about you can struggle as much with the pressures of success as you do the pressures of failure.” She acknowledges that that struggle of being successful can be a finer line to walk. Luckily, she has lots of people on the internet that keep her grounded.

“I always have a sniff test at the end of something. I try to think: ‘Is this really going to piss someone off?’ Is this arrogance? Is this hubris?' Because the internet is the first in line to knock you off a pedestal.”

At least, Day says, “that is a constant you can always rely on."

How Katrina changed the face of New Orleans

Fri, 2015-08-21 11:18

In the 10 years since Katrina, New Orleans and the Gulf Coast have been reshaped in many ways: who lives there, the kind of work they do and what they can afford. Being Marketplace, we wanted to "do the numbers" on New Orleans.

Allison Plyer is executive director of the Data Center, a New Orleans-based think tank that publishes the New Orleans Index, a data-based looked at the demographics of New Orleans.

Total city population: Down

"The city has about 384,000 people now. Pre-Katrina, according to the census in 2000, we had about 484,000."

Population growth: Up

"But every year we gain population. I always remind folks, that's the most important thing, as long as every year it's going up, that's good."

African-American residents: Down

"Pre-Katrina, about 66 percent of the population was African-American. We've lost about 97,000 African-American residents, which was a large chunk, so now, we're just about 59 percent Africa-American."

White residents: Down

"We also lost about 9,000 white residents. A lot of folks don't realize that. But still proportionally now, the city has a larger share of whites, just because of how the African-American population has declined so much."

Hispanic residents: Up

"We've gained about 6,000 Hispanics and a couple thousand Asians. So we're diverse in a different kind of way than we were pre-Katrina."

Bus transit: Down

"We used to have a pretty good system of buses, relative to many other cities in the country. Certainly not relative to New York or San Francisco, but relative to other cities. Those buses were flooded, as I think everybody saw. The reimbursement from FEMA was such that we were only able to acquire about one-fifth of the buses we had pre-Katrina. That means we have a lot fewer routes running right now and a lot less frequency. And that's really hard for a lot of our workers who work in the tourism industry and rely on that."

Community-based clinics: Up

"There's been a movement towards community-based clinics that spawned, really, out of Katrina, and has been more effective in supplying primary health care than our previous model, which was all centralized downtown in the [Charity Hospital region]. It delivered a lot of other care really well, but for primary care, this decentralized system of clinics has proven to give more access to low-income communities. And we're seeing that now in the studies that are coming out."

Grocery stores: Mixed

"Grocery stores have rebounded to pre-Katrina levels. Tulane just came out with a study on that. Pre-Katrina levels were not as good as they should be, we still have food deserts, but there was a time it was really dire here, in terms of availability of grocery stores."

The push for better cybersecurity in cars

Fri, 2015-08-21 11:10

Over the next few days, members of the automotive industry are gathering in Detroit for this year’s Autonomous Cars Conference, and one of the big issues facing the field is cybersecurity for vehicles.

Last month, you may remember, a Wired Magazine reporter lost control of his transmission, driving 70 miles an hour on a highway in St. Louis as a sort of demonstration project set up by "white hat" hackers. If there had been any doubt whether new cars rolling off the assembly line are at risk, last month’s stunt answers that clearly.

“Theoretically, hackers can take control over all control of the car, the steering wheel, can take control of the brakes, can take control of the engine and shut it off,” says Pete Samson, with the firm Security Innovation.

If your vehicle’s computer is networked to any other computer, your vehicle is vulnerable. Kathleen Fisher of Tufts University says automakers are beginning to recognize that now they must become software companies too.

“It’s going to take significantly more investment in the software that is running the cars written to higher standards of quality,” she says. “It’s going to take a culture of assuming hackers are trying to break in and thinking in a defensive mindset.”

Fisher says a bill moving through the Senate, the Spy Car Act, may force the industry to make necessary changes. If done right, she says, that could make hacking so hard, attackers would look for easier marks.

The push for better cyber-security in cars

Fri, 2015-08-21 11:10

Over the next few days, members of the automotive industry are gathering in Detroit for this year’s Autonomous Cars Conference, and one of the big issues facing the field is cyber-security for vehicles.

Last month – you may remember month – a Wired Magazine reporter lost control of his transmission, driving 70 miles an hour on a highway in St. Louis as a sort of demonstration project set up by ‘white hat’ hackers. If there had been any doubt whether brand new cars rolling off the assembly line are at risk, last month’s stunt answers that clearly.

“Theoretically, hackers can take control over all control of the car, the steering wheel, can take control of the brakes, can take control of the engine and shut it off,” says Pete Samson, with the firm Security Innovation.

If your vehicle’s computer is networked to any other computer, your vehicle is vulnerable. Kathleen Fisher of Tufts University says automakers are beginning to recognize that now they must become software companies too.

“It’s going to take significantly more investment in the software that is running the cars written to higher standards of quality,” she says. “It’s going to take a culture of assuming hackers are trying to break in and thinking in a defensive mindset.”

Fisher says a bill moving through the Senate, the Spy Car Act, may force the industry to make necessary changes. If done right, she says, that could make hacking so hard, attackers would look for easier marks.

Trombone Shorty visits his childhood home

Fri, 2015-08-21 06:49

Troy Andrews, who is better known as Trombone Shorty, started performing as a child in a family and neighborhood of musicians in Treme, New Orleans.

Now he's one of the city's musical luminaries. He also started a foundation to teach young musicians how to make a living in the music business.

Andrews speaks with Lizzie O’Leary while strolling through his old neighborhood.

Click the media player above to hear the full interview.

Leah Chase’s 65 years in the same New Orleans kitchen

Fri, 2015-08-21 06:46

Since 1946, Leah Chase has been in the kitchen Dooky Chase's Restaurant in New Orleans. She’s served Quincy Jones, Jesse Jackson, Duke Ellington, Thurgood Marshall, James Baldwin, Ray Charles, former Presidents George W. Bush and Barack Obama, and many others.

Quite simply, she's a legend in the city. Her restaurant was flooded with 5 1/2 feet of water from Katrina and closed for two years. Now 93, she speaks with Lizzie O’Leary from her kitchen, where she still shouts out orders to her staff every day.

Click the media player above to hear Chase's story.

Big Freedia, entrepreneur and Queen Diva

Fri, 2015-08-21 06:28

Big Freedia, born Freddie Ross, is known as the queen diva of bounce music. Bounce has made her famous, and she has a reality show and an autobiography.

Ten years ago, she was riding out Katrina with her family. Freedia tells her story outside the church in New Orleans' Third Ward where she learned to sing. She starts by defining bounce.

“It’s up-tempo, it’s heavy base, it’s call and respond. It has a lot to do with shaking the derriere.”

Music isn't the only way Freedia earns a living. She’s an author, producer, actor, decorator and has plans in the works for much more. But all the money from those businesses can make life complicated.

“More money, more problems. You have to learn how to manage your money in this game especially, because you never know when there’s gonna be a rainy day.” 

Big Freedia, entrepreneur and Queen Diva

Fri, 2015-08-21 06:28

Big Freedia, born Freddie Ross, is known as the queen diva of bounce music. Bounce has made her famous, and she has a reality show and an autobiography.

Ten years ago, she was riding out Katrina with her family. Freedia tells her story outside the church in New Orleans' Third Ward where she learned to sing. She starts by defining bounce.

“It’s up-tempo, it’s heavy base, it’s call and respond. It has a lot to do with shaking the derriere.”

Music isn't the only way Freedia earns a living. She’s an author, producer, actor, decorator and has plans in the works for much more. But all the money from those businesses can make life complicated.

“More money, more problems. You have to learn how to manage your money in this game especially, because you never know when there’s gonna be a rainy day.” 

PODCAST: A paint store ten years after Katrina

Fri, 2015-08-21 03:00

Airing Friday August 21, 2015: On today's show we check in on the global stock market, firefighters in the Western states, and a small paint store in New Orleans ten years after Katrina.  

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