Stories tagged "economy"

After the dissolution of Bear Stearns, Merrill Lynch, and numerous other investment banks, the Bernie Madoff scandal, and the global economic fallout of the sub-prime mortgages, business schools are finding themselves in a pickle. What do you teach about business when the future of business is up for debate? In response, business schools are adopting a new curriculum to deal with a new kind of student in the post sub-prime world. Chris McKenna, the MBA program director at the Said Business School at Oxford University, joins The Takeaway.

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What lessons have investors learned from Bernie Madoff? And what repercussions are still to come in the largest Ponzi scheme in history? Diana Henriques is the senior financial writer for the New York Times. She talks with John and Adaora about the state of the disgrace, the global finance markets, and how one gets away with global fraud.

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These days it seems that economists are the go-to people to explain many of the world’s ills, from sub-prime lending to credit default swaps to Ponzi schemes to the bad, emotionally charged decisions that we make with our own money. Dan Ariely, a behavioral economist, has some first-hand insight into how one self-destructive financial decision can thrust us into a downward spiral of many bad decisions. Dan Ariely is the James B. Duke Professor of Behavioral Economics at Duke University and author of Predictably Irrational.

What bad economic decisions have you made? Tell us!

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If you can drag yourself away from watching football this holiday season, it may be worth noticing that in this economy the recession-proof industries of sports and sports media may not be so recession proof. Here to talk about what could be a very important trend in the sports world in 2009 is Jeff Beresford Howe, The Takeaway tailgater and sports commentator.

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On Tuesday morning the Japanese stock market completed its investment year with a final session that ended 1.3% higher. This is a small high note in what was a dismal year for the Nikkei. The market tallied losses of over 42%, the worst annual performance ever. Andrew Walker, the BBC Business and Economics Correspondent, joins The Takeaway to explain what this means for Japan and the global economy.

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Calls for the end of the media as we know it are not new to anyone in the business. For years media clairvoyants have been peering into their crystal balls to find ever shrinking staffs at newspapers and radio and television stations across the country. However, the combination of the significant shifts in technology and the economic downturn may constitute a critical mass for changes in the media. Between bankruptcies of significant media companies and transformative technology rushing to market, 2009 may be the year that media finally has to change. Siva Vaidhyanthan, an associate professor of media studies at the University of Virginia, joins us for more on the issue.

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These are dark days for credit card companies--people are buying less on credit and having trouble paying their bills. Bad times for them may be good times for struggling borrowers, though, since credit card companies are increasingly willing to negotiate payment terms. Rozanne Andersen, Executive Vice President of ACA International, a professional association for collection agencies, joins The Takeaway to explain.

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Retailers were not supposed to begin filing for bankruptcy until after January 1. But it seems the fallout from poor holiday sales has already begun. On Monday, the Parent Company became the first well-known retailer to file for Chapter 11 bankruptcy protection after Christmas. New York Times reporter Stephanie Rosenbloom joins The Takeaway with the details.

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The auto industry's troubles are threatening the well-being of African-Americans more than any other racial or ethnic group. New York Times contributor Mary Chapman joins The Takeaway with a look at how car manufacturing job losses are affecting the black community.

Want more? Check out Mary Chapman's article in The New York Times.

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Today people across the country are overwhelmed with the fear of loss: fear of losing one’s job, fear of losing one’s life savings, fear of losing all our money in a Bernie Madoff-style ponzi scheme. Can all of this anxiety be bad for our brains? Of course! Dr. Gregory Berns is the Director of the Center for Neuropolicy at Emory University and author of the book "Iconoclast: A Neuroscientist Reveals How to Think Differently." He joins John and Adaora for a talk on how fear can impair our brain functions.

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Will independent film studios breathe their final breath, only to be saved by culture vultures downloading lesser known films online? Will this be the year SAG members strike, only to watch their prime time acting roles make way for less scripted television programming? It's a pivotal year in the world of Hollywood and Sharon Waxman joins John and Adaora to discuss the future of "the business".

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Happy days are here again for a group of former senior government officials who were involved in the savings and loan bailout of the 1990s. Now they are lawyers, investors, and lobbyists perfectly positioned to profit from the $700 billion being handed out by the U.S. Treasury Department. Eric Lipton of the New York Times gives The Takeaway his analysis.

Want more information? Check out Eric Lipton's article in the New York Times.

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As the Obama administration takes hold of the White House in 2009, which economic levers might it pull? And when might we see signs those changes are working?

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Treasury and the Fed said they would be open about where the taxpayers' trillions of dollars are going. But two months into the bailout, we still don't know important details about the government's agreements with financial institutions. Newsweek's Daniel Gross tells The Takeaway what information is being kept under wraps, and why it matters.

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2008 was a dynamic year of historic firsts, and who better to sum it up than one of America’s most trusted journalists. The 21-year veteran of NBC Nightly News joins John and Adaora to discuss the passing of his dear friend Tim Russert and why Barack Obama was the post-modern candidate in this year’s election.

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“People think I’m horrible for telling my child there is no santa.” That’s the sentiment that struck North Dakota resident Amber Stogner. There may be no Santa but those who read the note have demonstrated that the spirit of Christmas is thriving. Ms. Stogner joins us with her story.

Related:
• 10 Tips: How to recover from holiday clutter
• Yes, Virginia (and the rest of the world), there is a Santa Claus
• The science of gift giving
• Shop(lift)ing for the holidays
• Holiday Recipes: Christmas traditions with Rocco DiSpirito and his mom

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With unemployment claims at a 16-year high, Detroit looking into the abyss, and the economy in freefall, our national security could be at risk. James Rickards, senior managing director for research at Omnis, an applied research firm, argues that government agencies need to pay attention to the security implications of our economic troubles.

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"Giving All My Money to the Man" by Steven Zelin, the Singing CPA
Trouble viewing this video? Check out the YouTube version (click "watch in high quality" for best quality).

Across the country, state governments are trying to cope with severe budgetary shortages. The solution: taxes! Whether you call them fee hikes or revenue enhancements, we are seeing ideas that range from a real bummer to downright odd. Everything is on the table to increase tax revenues including sugary drinks and iTunes downloads. The Takeaway invited Steven Zelin, a certified public accountant in New York City who calls himself "The Singing CPA," to write a holiday-themed song about the current state of affairs.

Listen to Steven Zelin on The Takeaway.

To download an mp3 of the soon-to-be hit "Giving All My Money to the Man" click here.

Still want more from the Singing CPA? Check out his music on Amazon.com and on his Web site, thesingingcpa.com.

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For those living on the streets, newspapers could prove to be an unlikely lifeline this winter. Taxi, a Toronto-based advertising agency, is donating thousands of its high-tech, sub-zero coats to the homeless. The jacket, when filled with an assortment of op-eds, sports, movie listings and classified pages, is as protective as any down-filled coat. For a look at this news many can use, The Takeaway turns to Taxi's Steve Mykolyn, the creative force behind the winter gear.

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With more people out of work during the holidays, shoplifting is on the rise. Ian Urbina, reporter for The New York Times, talks about the vulnerablity as well as the sympathy retailers feel for their customers.

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