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Yogurt: Not just for breakfast anymore

Fri, 2014-05-02 09:41
Friday, May 2, 2014 - 09:39 Joe Raedle/Getty Images

A woman shops for yogurt at a Trader Joe's on October 18, 2013 in Pinecrest, Florida.

Greek yogurt is, to most members of the general public, solely a healthy breakfast option. But a new line of products from Chobani seems to say that breakfast isn't the only time to eat yogurt.

Greek yogurt sales have slowed in recent years by as much as six percent, which is why Chobani is experimenting with desserts and cooking ingredients that use Greek yogurt in new ways.

"Yogurt for breakfast totally makes sense, but it's become so old-school now," says Bloomberg Business reporter Venessa Wong. "It's still the exciting growth area in the yogurt market."

Wong visited the cafe in New York City that Chobani runs as a testing ground for new savory yogurt concoctions. The smoked salmon bagel she ordered, for example, was topped with a cream cheese spread made from Greek yogurt.

"I didn't know yogurt could be used as a cream cheese substitute," Wong said.

Chobani has found that its cafe's busiest hours are the lunch hours from 1-3 p.m. Its least busiest time of the day: 7:30-9:30 a.m.

Marketplace for Friday May 2, 2014Interview by Kai RyssdalPodcast Title Yogurt: Not just for breakfast anymoreSyndication SlackerSoundcloudStitcherSwellPMPApp Respond No

Traveling to space? There's an agent for that

Fri, 2014-05-02 09:31
Friday, May 2, 2014 - 10:21 Sanden Totten

Travel agent Jay Johnson holds a model of the ship Virgin Galactic plans to use to take tourists into space.

Jay Johnson is a travel agent to the stars ... or at least to sub-orbit.

He's what Virgin Galactic calls an ASA or "accredited space agent." That means Johnson is authorized to sell tickets to Virgin Galactic's planned space tourism experience.

The company plans to send six passengers at a time to suborbital space in its vehicle dubbed SpaceshipTwo.

Once there, tourists will float weightlessly for several minutes before returning to Earth.

"It's the ultimate icebreaker," Johnson says of his job. "I can’t walk into a room anywhere without bringing it up. It’s not just about selling the tickets; it’s just fun to talk about."

Johnson also runs Coastline Travel Advisors, a luxury travel business based in Garden Grove. He was selected, along with around 100 other travel agents, to help sell seats for Virgin Galactic.

They were educated on the basics of space travel, from flight technology to zero gravity conditions.

Over the last seven years, Johnson has sold eight tickets. It may not sound like a lot, but each seat sells for $250,000.

Future astronauts

Finding buyers hasn’t always been easy.

“In the early stages, ... we had no clue who the clients would be,” says Lynda Turley Garrett, an ASA in the Bay Area.

She’s tried marketing at science-themed events, travel expos, museums, even at luxury car dealers.

It’s not like selling other adventure vacations, she says, in part because Virgin doesn’t even have an official launch date. The company says it could start flights by the end of 2014.

Still, between the two of them, Turley Garrett and Johnson have sold to a techie from Silicon Valley, a real estate broker from Columbus, a 70-year-old South Korean retiree and a few celebrities who wish to remain anonymous.

Also in that group, is Josh Resnick, a video-game developer from Brentwood, and his 79-year-old mother, Rheta.

"Even talking about it I get excited" Josh Resnick says.

For him, the allure of being one of the first civilians in space was a big draw.

For his mother, Rheta, it was the chance to do something she dreamed of as a kid, but didn't think would be possible.

"When I was born, there was no television, ... no real washing machines. So we’ve come a long way," she says.

Challenges remain

The space tourism industry has made remarkable progress in recent years, says Dirk Gibson, a professor at the University of New Mexico and author of the ebook "Commercial Space Tourism: Impediments to Industrial Development and Strategic Communication Solutions."

"I think we are closer now than we ever have been," he says.

But, he adds, there are several hurdles ahead for Virgin Galactic and other companies looking to sell space-based travel experiences.

For instance, they have technical issues to work out, and they still need to secure Federal Aviation Administration approval for flights.

Greg Autry, an adjunct professor at USC's Marshall School of Business, says safety is also a concern. "Unproven complex technical systems are subject to failure," he notes. "As we've seen in the commercial aviation business, ... things do go wrong."

That’s partly why Virgin is taking so long to finalize a launch date. A spokesman says the company won’t send people up until it can minimize safety risks.

Still, both Autry and Gibson think this industry will continue to grow.

Ticket to ride

Another barrier for most people is the $250,ooo price tag for a Virgin Galactic flight.

Jay Johnson, though, has an opportunity to bypass that fee. The company has offered ASAs like him a free ride if they sell 10 tickets total. Johnson, with eight customers so far, is almost there.

But he says, if he hits the goal, he probably won't use the ticket himself.

"I honestly think I am going to donate it. Because I would love to go. But I’ll wait my turn until I can afford it."

In the meantime, he’ll keep working the phones, showing up at travel expos, and scouring Southern California for people with a dream of flying to space -- and a couple hundred thousand dollars to spare.

Marketplace for Friday May 2, 2014Four ways to make money in spaceby Sanden Totten Podcast Title Traveling to space? There's an agent for thatSyndication SlackerSoundcloudStitcherSwellPMPApp Respond No

A vast wasteland without Chandler Bing

Fri, 2014-05-02 08:13

From the Marketplace Datebook, here's an extended look at what's coming up the week of May 5, 2014:

We ease into the week with Cinco de Mayo celebrations. Did you know that more beer is sold for Cinco de Mayo than for the Super Bowl?

On Tuesday, the Commerce Department reports on international trade for March.

The series finale of the TV show "Friends" aired on May 6, 2004.

Also, if you see someone in need of directions or a restaurant recommendation, help 'em out. It's National Tourist Appreciation Day.

On Wednesday, the Federal Reserve is scheduled to release its monthly consumer credit report.

On May 7, 1824, in Vienna, Beethoven's Ninth Symphony premiered.

Let's get back to tourism for a sec. On Thursday, a hearing in the Senate looks at a plan to attract 100 million international visitors annually by the end of 2021.

On Friday, the Commerce Department reports on wholesale inventories and sales for March.

And on May 9, 1961, then FCC chairman Newton Minow referred to television as a vast wasteland. (Talk about a wasteland, it's been an entire decade since "Friends" was on the air.)

PODCAST: Strong jobs report undercut by shrinking labor force

Fri, 2014-05-02 07:36
Friday, May 2, 2014 - 08:23 John Moore/Getty Images

Applicants line up to speak to prospective employers at a job fair on June 11, 2012 in New York City. 

The April 2014 jobs report from the Department of Labor shows much stronger employment growth than economists expected, and a significantly lower unemployment rate. The unemployment rate fell 0.4 percent to 6.3 percent in April.

Nevada, New Mexico, Texas, or Arizona? There can be only one home for the Gigafactory. Or possibly two... if two are built. The Gigafactory is a massive battery plant, built by the electric car maker Tesla, that will take up to 1,000 acres and will include its own on-site wind and solar energy plants. Tesla has narrowed down its choice of location to four states, but rather than pick one now, it will prepare to build in two or three (or potentially all four), CEO Elon Musk announced on Wednesday.

Technically, Cinco de Mayo falls on a Monday this year. But beer companies want people to get an early start, celebrating over the weekend. But celebrating what, exactly? What does Cinco de Mayo mean for marketers and consumers?

Marketplace Morning Report for Friday May 2, 2014by David BrancaccioPodcast Title 5-2-14 Mid-day Update - Strong jobs report undercut by shrinking labor forceStory Type BlogSyndication PMPApp Respond No

Traveling to space? There's an agent for that

Fri, 2014-05-02 07:21

Jay Johnson is a travel agent to the stars ... or at least to sub-orbit.

He's what Virgin Galactic calls an ASA or "accredited space agent." That means Johnson is authorized to sell tickets to Virgin Galactic's planned space tourism experience.

The company plans to send six passengers at a time to suborbital space in its vehicle dubbed SpaceshipTwo.

Once there, tourists will float weightlessly for several minutes before returning to Earth.

"It's the ultimate icebreaker," Johnson says of his job. "I can’t walk into a room anywhere without bringing it up. It’s not just about selling the tickets; it’s just fun to talk about."

Johnson also runs Coastline Travel Advisors, a luxury travel business based in Garden Grove. He was selected, along with around 100 other travel agents, to help sell seats for Virgin Galactic.

They were educated on the basics of space travel, from flight technology to zero gravity conditions.

Over the last seven years, Johnson has sold eight tickets. It may not sound like a lot, but each seat sells for $250,000.

Future astronauts

Finding buyers hasn’t always been easy.

“In the early stages, ... we had no clue who the clients would be,” says Lynda Turley Garrett, an ASA in the Bay Area.

She’s tried marketing at science-themed events, travel expos, museums, even at luxury car dealers.

It’s not like selling other adventure vacations, she says, in part because Virgin doesn’t even have an official launch date. The company says it could start flights by the end of 2014.

Still, between the two of them, Turley Garrett and Johnson have sold to a techie from Silicon Valley, a real estate broker from Columbus, a 70-year-old South Korean retiree and a few celebrities who wish to remain anonymous.

Also in that group, is Josh Resnick, a video-game developer from Brentwood, and his 79-year-old mother, Rheta.

"Even talking about it I get excited" Josh Resnick says.

For him, the allure of being one of the first civilians in space was a big draw.

For his mother, Rheta, it was the chance to do something she dreamed of as a kid, but didn't think would be possible.

"When I was born, there was no television, ... no real washing machines. So we’ve come a long way," she says.

Challenges remain

The space tourism industry has made remarkable progress in recent years, says Dirk Gibson, a professor at the University of New Mexico and author of the ebook "Commercial Space Tourism: Impediments to Industrial Development and Strategic Communication Solutions."

"I think we are closer now than we ever have been," he says.

But, he adds, there are several hurdles ahead for Virgin Galactic and other companies looking to sell space-based travel experiences.

For instance, they have technical issues to work out, and they still need to secure Federal Aviation Administration approval for flights.

Greg Autry, an adjunct professor at USC's Marshall School of Business, says safety is also a concern. "Unproven complex technical systems are subject to failure," he notes. "As we've seen in the commercial aviation business, ... things do go wrong."

That’s partly why Virgin is taking so long to finalize a launch date. A spokesman says the company won’t send people up until it can minimize safety risks.

Still, both Autry and Gibson think this industry will continue to grow.

Ticket to ride

Another barrier for most people is the $250,ooo price tag for a Virgin Galactic flight.

Jay Johnson, though, has an opportunity to bypass that fee. The company has offered ASAs like him a free ride if they sell 10 tickets total. Johnson, with eight customers so far, is almost there.

But he says, if he hits the goal, he probably won't use the ticket himself.

"I honestly think I am going to donate it. Because I would love to go. But I’ll wait my turn until I can afford it."

In the meantime, he’ll keep working the phones, showing up at travel expos, and scouring Southern California for people with a dream of flying to space -- and a couple hundred thousand dollars to spare.

Yogurt: Not just for breakfast anymore

Fri, 2014-05-02 06:39

Greek yogurt is, to most members of the general public, solely a healthy breakfast option. But a new line of products from Chobani seems to say that breakfast isn't the only time to eat yogurt.

Greek yogurt sales have slowed in recent years by as much as six percent, which is why Chobani is experimenting with desserts and cooking ingredients that use Greek yogurt in new ways.

"Yogurt for breakfast totally makes sense, but it's become so old-school now," says Bloomberg Business reporter Venessa Wong. "It's still the exciting growth area in the yogurt market."

Wong visited the cafe in New York City that Chobani runs as a testing ground for new savory yogurt concoctions. The smoked salmon bagel she ordered, for example, was topped with a cream cheese spread made from Greek yogurt.

"I didn't know yogurt could be used as a cream cheese substitute," Wong said.

Chobani has found that its cafe's busiest hours are the lunch hours from 1-3 p.m. Its least busiest time of the day: 7:30-9:30 a.m.

Manufacturing -- grassroots style

Fri, 2014-05-02 05:42
Friday, May 2, 2014 - 08:41 Bill Pugliano/Getty Images)

Friday's jobs report shows that there were 12,000 extra manufacturing jobs last month.

Friday's jobs report shows that there were 12,000 extra manufacturing jobs last month. This may evoke an image of people working in big factories. But what about an emerging grassroots style of making things that's about craftsmanship, tinkering and innovation involving things you can actually touch?

Jules Pieri, founder and CEO of a product launch platform called The Grommet, joins Marketplace Morning Report host David Brancaccio to discuss a status report on what's called the "Maker Movement in America."

Marketplace Morning Report for Friday May 2, 2014Interview by David BrancaccioPodcast Title Manufacturing -- grassroots styleStory Type News StorySyndication Flipboard BusinessSlackerSoundcloudStitcherBusiness InsiderSwellPMPApp Respond No

Manufacturing -- grassroots style

Fri, 2014-05-02 05:41

Friday's jobs report shows that there were 12,000 extra manufacturing jobs last month. This may evoke an image of people working in big factories. But what about an emerging grassroots style of making things that's about craftsmanship, tinkering and innovation involving things you can actually touch?

Jules Pieri, founder and CEO of a product launch platform called The Grommet, joins Marketplace Morning Report host David Brancaccio to discuss a status report on what's called the "Maker Movement in America."

PODCAST: Strong jobs report undercut by shrinking labor force

Fri, 2014-05-02 05:23

The April 2014 jobs report from the Department of Labor shows much stronger employment growth than economists expected, and a significantly lower unemployment rate. The unemployment rate fell 0.4 percent to 6.3 percent in April.

Nevada, New Mexico, Texas, or Arizona? There can be only one home for the Gigafactory. Or possibly two... if two are built. The Gigafactory is a massive battery plant, built by the electric car maker Tesla, that will take up to 1,000 acres and will include its own on-site wind and solar energy plants. Tesla has narrowed down its choice of location to four states, but rather than pick one now, it will prepare to build in two or three (or potentially all four), CEO Elon Musk announced on Wednesday.

Technically, Cinco de Mayo falls on a Monday this year. But beer companies want people to get an early start, celebrating over the weekend. But celebrating what, exactly? What does Cinco de Mayo mean for marketers and consumers?

Time to mourn the minibar

Fri, 2014-05-02 02:58

Good-bye, midnight Snickers bar. Adios, Pringles cylinder. Sayonara, bourbon nightcap.

They may never go away completely, but the hotel minibar can certainly be considered a rare and endangered species.

Why are minibars vanishing?

"In Las Vegas, a little bottle of vodka can cost you more than $14. And in Washington D.C., if you want a bag of peanuts, be prepared to pay over $7," says Kevin Carter with the travel planning website TripAdvisor.

A recent TripAdvisor survey found just 7 percent of U.S. travelers even remotely care about a minibar in the room. Not surprisingly, PKF Hospitality found that between 2007–2012 minibar revenue fell by nearly 30 percent.

Disappearing minibars is just one of several changes in modern-day U.S. hotel rooms. Woodworth says what hotels lose in certain antiquated amenities, companies hope to make up in room rates.

"If I can get you to pay an extra dollar for your room tonight, about 90 cents of that is pure profit," says Woodworth. "The energies and management focus has been really optimizing room revenues."

TripAdvisor found travelers want a lot of stuff that starts with the word "free": Free wifi. Free breakfast. Free parking.

Oh, and we want outlets – lots and lots of electrical outlets.     

5 more "amenities" disappearing from your hotel room

PKF Hospitality President Mark Woodworth says hotels are recalculating what makes them money. Here are five services on the chopping block: 

1. Dry cleaning.

There will still be ironing boards, but you'll have to push them yourself.

Hulton Archive/Getty Images

2. Telephone services. 

Perhaps wake up calls will be rerouted to cell phones.

Keystone/Hulton Archive/Getty Images

3. Renting movies on hotel TVs. 

Enough guests prefer their own screens. 

Jimmy Sime/Hulton Archive/Getty Images

4. Room size.

The smaller the room, the bigger the hotel's profit. And the closer you are to your cell phone, which is what you care about anyway. 

Hulton Archive/Getty Images

5. Coffee makers.

For now, the coffee makers are still there -- but you have to pay for anything you brew

Hulton Archive/Getty Images

Elon Musk, Tesla plan 'Gigafactory' site

Fri, 2014-05-02 02:48

Nevada, New Mexico, Texas, or Arizona? There can be only one home for the Gigafactory

Or possibly two... if two are built.

The Gigafactory is a massive battery plant, built by the electric car maker Tesla, that will take up to 1,000 acres and will include its own on-site wind and solar energy plants. Tesla has narrowed down its choice of location to four states, but rather than pick one now, it will prepare to build in two or three (or potentially all four), CEO Elon Musk announced on Wednesday.

Replicating engineering work, design work, site selection, connection to power and utilities, and permitting is a costly strategy, says Ben Kallo, senior equity analyst with Robert W. Baird.

"You can talk about millions and even tens of millions [of dollars] to do this" for just one extra site, according to Kallo.

But the cost of not doing it could be much greater. Tesla plans to have 500,000 electric cars on the road by 2020. This would include more of its Model S sedans, a new SUV, and a more affordable car (at $35,000, it might be described as 'less unaffordable'). Tesla also plans to expand into electricity storage to the wind and solar industries, says Kallo. And the gigafactory is the foundation of that plan. A delay could damage Tesla's competitive advantage as a first mover, and could damage investor confidence. Aside from its own share holders, Tesla needs investors to finance the $5 billion behemoth project.

Jakki Mohr teaches marketing at the University of Montana and has followed Tesla closely. She says having multiple possibilities to site the gigafactory is a savvy negotiating move.

"States give huge incentives to get this kind of business in their regions," says Mohr, and this is a way of "playing one state against another to receive better incentives to locate there."

There's also one critical but underappreciated concession Tesla wants, according to Charles Hill, professor of management at the University of Washington's Foster School of Business. Tesla wants to sell cars itself, not through dealerships.

"It may be that Tesla picks a state that's initially hostile to that – Texas would be an example – as a way of getting leverage for them to change that policy as well," says Hill.

"The political issue around whether Tesla should have a direct sales model as opposed to selling through dealers is almost as big of an issue as the battery plant, and I don't think the two are totally separable."

The more back up plans you have, the more arms you can twist.

Despite strong jobs report, wages still flat

Fri, 2014-05-02 02:19

[UPDATED: FRIDAY, MAY 2, 2014, 9:58am ET]: The April 2014 jobs report from the Department of Labor shows much stronger employment growth than economists expected, and a significantly lower unemployment rate. The unemployment rate fell 0.4 percent to 6.3 percent in April.

Nonfarm private- and public-sector payroll jobs rose by 288,000 in April. The consensus expectation was 215,000. Job gains came across the board, in white- and blue-collar jobs: Professional and business services (+75,000), temporary employment (+24,000), retail trade (+35,000) with car dealerships particularly strong. Bars and restaurants added 33,000 jobs and construction added 32,000 jobs, a welcome recovery for a housing sector that has seemed weak in recent months. Health care and mining also rose strongly. Manufacturing and government jobs were both essentially unchanged.

The unemployment rate decline appears very favorable on its face -- 6.3 percent is the lowest unemployment rate since September 2008, as the financial crisis was raging. It hit a peak of 10 percent in October 2009, before beginning its painstakingly slow, steady decline to April 2014’s level.

One force driving the unemployment rate down is a decline in the labor force participation rate -- to 62.8 percent in April. The number of people in the civilian labor force -- those either working, or unemployed and actively looking for work -- declined by 806,000, after increasing by 503,000 in March. Data from the household survey -- the source of labor force measures -- is considered more volatile than the job-creation numbers derived from the Establishment Survey, and it might be a few months before these trends settle out more clearly.

Job gains turn out to have been better than previously reported during the winter, when the economy slowed dramatically amid severe weather events. February’s figure was revised up from +197,000 to +222,000, and March was revised from +192,000 to +203,000. That puts the three-month average at 238,000. That could signal a moderate, but significant, acceleration of job-creation in the economy. At some point, faster wage growth could even follow.

Finally, April was a 'pretty good' month for jobs

Fri, 2014-05-02 02:19

[UPDATED: FRIDAY, MAY 2, 2014, 8:35am ET]: The U.S. Bureau of Labor Statistics reported domestic employers added 288,000 to non-farm payrolls in the month of April, bringing the current unemployment rate down to 6.3 percent. 

Chances are, today's Employment Situation Summary for April from the Labor Department will be a pretty good report.

Job growth is expected to have improved compared to mid-winter's labor-market polar vortex. The consensus among economists (Bloomberg) is 215,000 new jobs created in April, and unemployment falling 0.1 percent to 6.6 percent. Job growth has come in around 175,000 non-farm payroll jobs per month since February (3-month average).

For the past six months, economists have had a hard time determining underlying labor-market strength. Nearly every monthly report has been skewed by anomalous or seasonal effects: the partial government shutdown in the fall; expiration of long-term federal unemployment benefits after the New Year (maybe people stopped looking, and getting counted?); severe winter weather in the Northeast and Midwest and Southeast and Northwest that suppressed consumer spending, travel, and hiring nationwide.

In recent weeks, economic signals have been mixed: a strong April private-sector jobs report from payroll processing firm ADP; higher first-time claims for state unemployment benefits (rising to a nine-week high in May 1 report); consumer spending up 0.9 percent in March to a four-year high. Meanwhile, GDP barely cleared the flatline in the first quarter (+0.1 percent preliminary, compared to 2.6 percent in Q4/2013). Home sales and building construction have all but stalled.

Mark Hamrich, who tracks the economy for personal finance website Bankrate.com, says the labor market hasn't changed very much in the past two years. Job creation has averaged , just below 200,000 every month and the unemployment rate has fallen gradually to below 7 percent. That represents slow, steady improvement—without, however, much acceleration in job creation.

"I call it a 'more, please' job market," says Hamrich. He says that's stressful for middle-income Americans--suffering from the lingering effects of the financial crisis, and the precipitous fall in assets such as retirement savings and home values.

Hamrick says income has largely stagnated. "Even for those who have been employed," he says, "many have had to put up with sub-standard wage gains on an annual basis. That leaves people feeling like they aren't making much progress."

Finally, April was probably a 'pretty good' month for jobs

Fri, 2014-05-02 02:19

Chances are, today's Employment Situation Summary for April from the Labor Department will be a pretty good report.

Job growth is expected to have improved compared to mid-winter's labor-market polar vortex. The consensus among economists (Bloomberg) is 215,000 new jobs created in April, and unemployment falling 0.1 percent to 6.6 percent. Job growth has come in around 175,000 non-farm payroll jobs per month since February (3-month average).

For the past six months, economists have had a hard time determining underlying labor-market strength. Nearly every monthly report has been skewed by anomalous or seasonal effects: the partial government shutdown in the fall; expiration of long-term federal unemployment benefits after the New Year (maybe people stopped looking, and getting counted?); severe winter weather in the Northeast and Midwest and Southeast and Northwest that suppressed consumer spending, travel, and hiring nationwide.

In recent weeks, economic signals have been mixed: a strong April private-sector jobs report from payroll processing firm ADP; higher first-time claims for state unemployment benefits (rising to a nine-week high in May 1 report); consumer spending up 0.9 percent in March to a four-year high. Meanwhile, GDP barely cleared the flatline in the first quarter (+0.1 percent preliminary, compared to 2.6 percent in Q4/2013). Home sales and building construction have all but stalled.

Mark Hamrich, who tracks the economy for personal finance website Bankrate.com, says the labor market hasn't changed very much in the past two years. Job creation has averaged , just below 200,000 every month and the unemployment rate has fallen gradually to below 7 percent. That represents slow, steady improvement—without, however, much acceleration in job creation.

"I call it a 'more, please' job market," says Hamrich. He says that's stressful for middle-income Americans--suffering from the lingering effects of the financial crisis, and the precipitous fall in assets such as retirement savings and home values.

Hamrick says income has largely stagnated. "Even for those who have been employed," he says, "many have had to put up with sub-standard wage gains on an annual basis. That leaves people feeling like they aren't making much progress."

The history of the marketing of Cinco de Mayo

Fri, 2014-05-02 01:05

Technically, Cinco de Mayo falls on a Monday this year. But beer companies want people to get an early start, celebrating over the weekend.

But celebrating what, exactly? What does Cinco de Mayo mean for marketers and consumers?

Many in Los Angeles celebrated Cinco de Mayo last weekend. Tens of thousands of Latinos attended a street fair that big corporations saw as a marketing opportunity, even if their message was a little fuzzy.

At the Ford booth, I spoke with Marie, a 'brand ambassador.' I asked her to make the connection between the car company and Cinco de Mayo.

"Ford, to me, is about the people. And people need to drive to get around this city and Ford is a great way to do that," said Marie.

She struggled to make the connection. But, to be fair, it is sort of a hazy holiday.

After all, May 5 commemorates an obscure battle where the Mexican underdogs defeated the French.

"In Mexico, we don't really do Cinco de Mayo," said Marie. "It's more of an American-ized holiday."

In this case, 'American-ized' meant commercialized. Festival goers moved from line to line, waiting for free samples and gift bags. A fiesta of freebies from McDonald's and Palmolive and Colgate.

"The consumer products companies have been the early-adopters of understanding that this is the market that is going to move the needle, and they've really fought hard to create brand recognition," said Xavier Gutierrez with Meruelo Group, one of the event's sponsors.

While some companies try to connect with Latinos, beer companies try to get everyone to party.

According to Nielsen, the market research company, Americans bought more than $600 million worth of beer last year for Cinco de Mayo. That's more beer than was sold for the Super Bowl or St. Patrick's Day.

"Beer companies have been largely responsible for the commodification of Cinco de Mayo. I mean, they spend millions and millions of dollar in Spanish-language advertising," said Jose Alamillo, a professor of Chicano studies at California State University Channel Islands.

Alamillo said the beer industry ignores alcohol related health issues that affect the Latino community.

He'd like to see Cinco de Mayo promoted as a history lesson, instead of -- as critics allege -- an excuse to sell booze.

Boxers, briefs or radiation underwear? Silicon Tally!

Fri, 2014-05-02 01:00

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

This week we're joined by Kara Miller, host of WGBH’s Innovation Hub. var _polldaddy = [] || _polldaddy; _polldaddy.push( { type: "iframe", auto: "1", domain: "marketplaceapm.polldaddy.com/s/", id: "silicon-tally-may-2", placeholder: "pd_1398982571" } ); (function(d,c,j){if(!document.getElementById(j)){var pd=d.createElement(c),s;pd.id=j;pd.src=('https:'==document.location.protocol)?'https://polldaddy.com/survey.js':'http://i0.poll.fm/survey.js';s=document.getElementsByTagName(c)[0];s.parentNode.insertBefore(pd,s);}}(document,'script','pd-embed'));

Family finance lessons: Demetria Lucas listens to her mother ... eventually

Thu, 2014-05-01 18:45
Thursday, May 1, 2014 - 19:40

The most important lessons we learn about money don’t come from our accountants or our radios. They come from our family.

Each week, we invite someone to tell us about the money tips they inherited from the people they grew up with.

Our guest this week is Demetria Lucas. She's the author of A Belle In Brooklyn and owns a blog of the same name. You might also recognize her from the Bravo reality series Blood, Sweat and Heels.

Demetria grew up in in a middle-class town near Washington D.C. that she says had lot of African-American professionals. 

"Sort of like a 'Leave It To Beaver' black version," says Lucas. 

Discussions about money happened early in Lucas' household. 

"My mother always taught me to put 10 percent away," says Lucas. "My dad would always talk about my grandmother. She was from Mississippi and she lived on a farm. When she passed away she had saved some ungodly sum of money and no one knew where it came from."

But when Lucas reached adulthood it took some time for her mother's lessons to take hold.

"[After] my very first paycheck, she reminded me of that 10 percent lesson. You know, I heard her and it went in one ear and out the other," says Lucas.

After about a year, though, Lucas got wise. She started cooking more, turning down invitations for nights out, and started setting aside as much as 20 or 30 percent of some paychecks.

Over time, she saved up enough to make a big jump.

"I decided I needed to leave my job to really pursue my blog and my [second] book to the best of my ability, and because I had a nice savings I was able to do that," says Lucas.

Though, she admits, the money from her first book helped a little bit, too.

Marketplace Money for Friday, May 02, 2014Family Money A Belle in Brooklyn: The Go-to Girl for Advice on Living Your Best Single Life Author: Demetria L Lucas Publisher: Atria Books () Binding: Hardcover, pages by Nick WhitePodcast Title Family finance lessons: Demetria Lucas listens to her mother ... eventually Story Type InterviewSyndication SlackerSoundcloudStitcherSwellPMPApp Respond No
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