Economy & Business

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01/13/17: Big banks, big money

Jan 13, 2017

After the election, some of the biggest banks were able to pull in a lot of money. We'll dive into the latest market trends. Next, we'll explore complaints from the EPA that some of Fiat Chrysler's vehicles are responsible for illegal pollution. Finally, we'll talk with some political outsiders who are vying for a position in the Trump administration.

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Outsiders hope for jobs in Trump administration

Jan 13, 2017
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Nancy Marshall-Genzer

David Vincent Gagne is a chief technology officer for a web development company. He's from Ormond Beach, Florida. Sergio Loya is a management consultant in Ashburn, Virginia. Gagne voted for Hillary Clinton. Loya voted for Donald Trump. But they describe themselves as political outsiders.

They both applied for jobs in the new administration. I first talked to them the week after the election.

“I think with Trump there’s a much greater chance for people that have not been in the political 'industry' to make a change in the world,” said Gagne then.

With a few banks reporting earnings Friday  — JP Morgan Chase, Wells Fargo, Bank of America — we'll take a look at banking’s prospects. The new Trump administration and a GOP-controlled Congress have said they plan to dial back Dodd-Frank and other financial regulations. For the most part, bank stocks – and the market overall — have done well in the months since the election. Rising interest rates are a help to banks, of course. But in the long run, how will things play out if the new administration removes banking and finance regulations?   

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Marketplace

The Justice Department announced that it would phase out the use of private prisons. But the Georgia town of McRae-Helena has staked its future on these facilities. We've visited the region to see how residents feel about their presence. And in Trump-related news, we'll look at some of the cabinet picks who have yet to be scheduled for confirmation hearings, and discuss what the future might look like for big banks during his tenure. 

01/13/17: Using Fitbit to detect health issues

Jan 12, 2017
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Marketplace

With the expectation of big domestic growth, Amazon plans to create 100,000 full-time positions in the U.S. over the next year and a half. We'll look at where the retailer expects to see growth and where its thousands of new employees are likely to be working. Next, we'll talk about a new study that says fitness trackers can be used for the early detection of health problems, and then cap off the show with our weekly numbers game, "Silicon Tally." This week's opponent: Alex Davies, the transportation editor at Wired.com. 

As we all know, the maker of EpiPen, Mylan, has engaged in price gouging. But this week, the larger health care industry sent a strong message that they are not going to stand for it. On Wednesday, Cigna announced it would only cover the generic version of EpiPen. On Thursday, CVS announced a deal with an EpiPen competitor that could hurt Mylan’s generic sales. It’s a strange and unusual kind of pushback. The kind we rarely see in the health care industry.

Click the above audio player to hear the full story.


A small Georgia town where prisons play a big role

Jan 12, 2017
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Lane Wallace

McRae-Helena, Georgia, with a population of about 8,700, is what you could call a prison town, times two. There’s a state prison at one end, and McRae Correctional — a private federal prison — at the other. Together, the two facilities house some 3,000 people. 

Lon Hamilton owns the Southern Star Grill, a family-style restaurant not far from the federal prison. 

The Consumer Financial Protection Bureau released a survey today that it says shows widespread tactics used by debt collectors to threaten consumers. The watchdog agency, which is considering strengthening regulations of the industry and its conduct, says more than a quarter of the consumers it surveyed felt threatened by the debt collectors.

Donald Trump's plan to shift management of his businesses to his sons doesn't go nearly far enough to address conflict-of-interest concerns, former presidential ethics lawyers say.

Copyright 2017 WVTF Public Radio. To see more, visit WVTF Public Radio.

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Copyright 2017 NPR. To see more, visit http://www.npr.org/.

ROBERT SIEGEL, HOST:

President-elect Donald Trump took to Twitter again Thursday morning, this time to urge his followers to "Buy L.L.Bean," and support one of his campaign backers.

"Thank you to Linda Bean of L.L.Bean for your great support and courage," he tweeted Thursday. "People will support you even more now. Buy L.L.Bean."

After years of hints, shots across the bow and a few gentle suggestions, the Chargers have finally done it: Owner Dean Spanos announced that the NFL team will be leaving San Diego for Los Angeles, starting nex

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Kai Ryssdal

If you were watching the web feed of C-SPAN today, you might've noticed something odd.

Just as California Congresswoman Maxine Waters was making a speech about SEC regulations, the feed abruptly switched over to Russia Today, the television network funded by the Kremlin. There was a flurry of cheerful pop music, followed by a slideshow of promotional tweets encouraging tourism in a fictional country called San Escobar.

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