Illinois Economy

Business and economic news

The Childrens Health Insurance Program is healthcare for kids whose parents make too much to qualify for Medicaid, but not enough to afford private healthcare. If Congress doesn't reauthorize it, the program starts to run out of funding on Friday, leaving up to nine million children without coverage. Doctors are urging parents to fill all prescriptions, and to plan their budgets for new, additional costs.

01/15/2018: How health care is changing this year

Jan 15, 2018

Congress may not have completely repealed the Affordable Care Act, but it sure is changing everything about affordable care. First up: CHIP, which covers about nine million children, who are now in danger of losing that coverage. Congress failed to extend funding back in September, and the program will run out of money on Friday. That's the same day for a possible government shutdown, unless there's a broader agreement on funding. Then: Federal health officials are letting states impose work requirements on low-income Americans enrolled in Medicaid.

(Markets Edition) Airbus had a better year in sales than Boeing, but they're having trouble selling their largest plane, the A380. And today is one of just four days this year when entry to National Parks is free. That’s down from the number of free days in the past, and the price for some park passes is going up. So how is the park system balancing its mission to increase access with its need for revenue? Plus, Kansas State has the oldest coach in college football’s top division and he's got a 200-win record with the team.

If President Donald Trump does not increase the federal minimum wage within the next two years, it will be more than ten years since its last increase — the longest that the federal minimum wage has remained unchanged since it was enacted. With the federal minimum wage stuck at $7.25, states and cities across the U.S. have increased their local minimum wages instead — some going as far as more than doubling the amount to $15 an hour.

01/15/2018: The cost of a dream

Jan 15, 2018

(U.S. Edition) The closest the average person can get to hearing Dr. King’s iconic 1963 speech in full is reading it online or trekking to the Dr. King Center in Atlanta to buy a copy on DVD. The recording of the speech has been private property since he recited it, and everyone (with the exception of teachers) has to pay a licensing fee to listen. How do we weigh the value of this piece of American history? Plus, we discuss why homelessness is up for the first time since 2010 and take a look at the changing landscape of New Mexico's beloved chile industry.

(Global edition) From BBC World Service... Trading was suspended after a walkway inside the Jakarta stock exchange building collapsed on Monday morning. We hear from the BBC's Rebecca Henschke at the scene, where police say 72 people have been hurt. UK construction giant Carillion has gone into liquidation, putting thousands of jobs at risk and the future of many projects into doubt. BBC business correspondent Ben Thompson explains what the impact could be around the globe.

It’s common for commemorations of Martin Luther King Jr. Day to include excerpts from his famous “I Have a Dream” speech. But there’s good reason not to play it in full: The work in its entirety is copyrighted.

Click the audio player above to hear the full story. 

If you go out to eat in New Mexico, there’s a good chance your server will ask you, “Red, green, or Christmas?” when you order. It means, do you want your food smothered in red or green chile …. or both. In this state, the green chile is king. So much so that it’s the official state vegetable and the peppers are often an essential ingredient in pretty much any food group, from sauces and stews to chile rellenos.

Having a winning college football team led by a top caliber coach is worth the investment for some cities. Just ask Manhattan, Kansas, which invested over $200 million to improve its sport facilities and paid the coach for Kansas State's football team $3 million last year.  The number of hotel rooms in the city doubled in the last 20 years as more fans travel there to watch the games. 

 

Revenge porn is the non-consensual sharing of nude photos or videos. Thirty-eight states and the District of Columbia have revenge porn laws, according to the Cyber Civil Rights Initiative. And now Congress is considering a bill that would make revenge porn a federal crime. Marketplace Tech host Molly Wood talks with Danielle Citron, an adviser on the bill and a law professor at the University of Maryland.

Dion Rabouin from Yahoo Finance and Kate Davidson from The Wall Street Journal join us to talk about this week’s economic and business news. This week, Walmart announced it's giving 1 million employees bonuses and wage raises, Fiat-Chrysler announced it will be relocating a plant in Mexico to Michigan and the IRS announced new rules that would give tax payers a bigger paycheck. All of these wins, however were overshadowed by President Donald Trump’s comments about El Salvador, Haiti and some African countries.

Can the Olympics be protected from cyberattacks?

Jan 12, 2018

As athletes gear up for the Olympics, hackers are working hard, too. An unidentified hacker group tried to take over dozens of computers involved with the upcoming games. While hackers are getting craftier, digital protections for everyone involved in the Olympics need to get more complex and expensive. To take us through it all, Molly Wood, host of Marketplace Tech, joined Marketplace Weekend for a discussion about what happened in South Korea, how Olympics organizers build their own internet and just who's on the hook for protecting it.

5 things you need to know about HQ Trivia

Jan 12, 2018

You’ve seen people around your office suddenly intensely staring at their phone around noon Pacific Time/3 p.m. Eastern Time, there’s a good chance they are on an app called HQ Trivia. And if you haven’t seen someone play, you’ve probably heard about it on Twitter.

HQ is an free app that hosts a live trivia game show typically twice a day. HQ sends a notification out when it is game time, then thousands of players log on at the same time to compete against each other for the jackpot. Here are five things you need to know:

It’s a start up

The Consumer Price Index rose 0.1 percent in December from the previous month. The “core” inflation rate — excluding volatile food and energy prices — rose 0.3 percent month-to-month. That’s the largest increase since January 2017, and was higher than economists expected. But does it mean we’re beginning to see a serious uptick in inflation? 

 Click the audio player above to hear the full story. 

Texan oil man T. Boone Pickens hangs up his hat

Jan 12, 2018

Infamous investor T. Boone Pickens is closing his BP Capital fund and retiring at age 89 after amassing a fortune in energy — everything from oil and natural gas, to wind power and water.

Click the audio player above to hear the full story. 

How the Rockefellers came to be at odds with Big Oil

Jan 12, 2018

Earlier this week, New York City Mayor Bill de Blasio announced that New York City would divest its pension funds from fossil fuels and that the city would sue the big five oil companies. The reason? To collect damages for the cost of coping with the effects of climate change on city infrastructure.

01/12/2018: Here's the thing about this week

Jan 12, 2018

This week could have been an economic messaging home run for the White House and congressional Republicans. The tax law's kicking it, companies are giving bonuses and raises, some raises anyway. But no. We'll talk about it. Then: T. Boone Pickens announced today he's hanging it up. He's pretty much the stereotype of the big-time oil man, with his Oklahoma-Texas drawl. He made more than a billion dollars in the energy industry and ran a hedge fund, too. We'll talk about his legacy. Plus: Facebook hasn't had the best week, and it capped it off with changes to the News Feed.

Facebook is changing your News Feed to show more personal posts

Jan 12, 2018

Facebook announced this week that it will change the algorithm that governs what content users see in their News Feeds. Users can expect to see less news content and more posts from friends and family. Marketplace host Kai Ryssdal talked with Marketplace Tech host Molly Wood about the change and what it means for Facebook. 

Click the audio player above to hear the full story. 

How to be a winemaker

Jan 12, 2018

Everyone has a dream job growing up: doctor, vet, ice cream taste tester. But how do you actually get the gig? Marketplace Weekend is looking into how, with the occasional series, How to be a...

Elizabeth Vianna is the winemaker and general manager at Chimney Rock Winery in Napa Valley, CA. She has been in the winemaking business for 20 years -- she started as a harvest intern at Chimney Rock while completing her masters in enology at UC Davis, and became the vineyard's winemaker in 2005. These are her tips for how to become a winemaker: 

When grocery stores close, this legal phrase can prevent new ones from opening

Jan 12, 2018

For nearly 60 years, the Safeway grocery store operated in downtown Greeley, Colorado. It was old and not always fully stocked, but it provided fresh food for people in the area.

"It was very handy, you know, working downtown for me to be able to stop there and be able to pick up things on the way home," said Pam Bricker, executive director of the Downtown Development Authority in Greeley. 

But then in 2014, the store, located in a city of 100,000 people north of Denver, closed.

Tom Houck leaned toward a window at the front of his coach bus and pointed to the Dr. Martin Luther King Jr. National Historic Site on Atlanta’s historic Auburn Avenue. His audience, some 40 college students, peered out at King’s childhood home, his church, his and his wife Coretta’s burial grounds and other landmarks.

“It’s so delightful to have you on our tour,” Houck belted from a wireless headset microphone. “You are in the megacenter of history.”

Ask A Manager: Quitting your job with grace

Jan 12, 2018

Earlier this week, we asked our listeners if it's possible to quit your job gracefully. We got lots of stories and questions in response, from on-the-spot quitters to some who maybe gave a little too much notice before leaving, and got stuck with the projects no one wanted.

Debt burden a worry for many Americans

Jan 12, 2018

The economy is ticking along and investors seem confident but a new report from Creditcards.com has some sobering findings. It says two out of three Americans with debt aren’t confident they’ll ever be able to fully pay it off.

Click the audio player above to hear the full story. 

(Markets Edition) The stock market seems to be doing well, but the bond market — not so much. Chris Low, chief economist at FTN Financial, joined us to explain what could be going on. Afterwards, we'll look at a new report that shows more than half of Americans now live in places where it's more affordable to rent than own a house, and then discuss why so many in the U.S. are struggling to pay back their credit card debt.

Bond prices have been under pressure this week as yields jumped to a 10-month high on a range of factors, including forecasts for better global growth, U.S. tax reform, and reports some nations could scale back U.S. debt purchases. Things have calmed down a bit, and while Allianz Chief Economic Adviser Mohamed El-Erian expects more volatility later this year, he isn’t too worried about what the activity signals for the broader economy. 

Click the above audio player to hear the full interview.

(U.S. Edition) Facebook is making big changes to the content you'll see on your news feed. On today's show, we'll discuss the company's push to prioritize posts that it thinks will spark "meaningful" social interactions. Afterwards, we'll look at Saudi Arabia's decision to open the first car showroom for women, and then talk about the IRS' daunting challenge of implementing the GOP's tax overhaul.

Rent or own? The affordability conundrum

Jan 12, 2018

ATTOM Data Solutions reports that 64 percent of Americans now live in places — mostly big metro areas on the East and West coasts — where it is more affordable to rent than own. That means the monthly cost of a mortgage, mortgage interest, insurance and property taxes on a median-priced home in the area will eat up a larger percentage of the average monthly wage there than paying rent on a typical three-bedroom apartment.

(Global Edition) From the BBC World Service… A breakthrough in Germany four months after elections: Prime Minister Angela Merkel’s center-right block has made a deal with the center-left Social Democrats, with compromises in sight on migration and taxes. Afterwards, new data from China shows its trade surplus with the U.S. hit a record high last year. We’ll explain what that mean for the two nations. Then,  the bond market caused whiplash for investors this week and though things have calmed down a bit, is more volatility on the way … and would it be such a bad thing?

The twin security flaws called Spectre and Meltdown let hackers take advantage of almost any device with a chip in it and steal data, passwords, keystrokes — pretty much all the things you want to keep private. Marketplace Tech host Molly Wood talks with independent security reporter Brian Krebs, who says that on the scale of one to 10 in terms of how worried he is, this is about an eight. He also says we should patch our computers. We get into the nitty gritty of the hack for our segment Quality Assurance, a second look at the news. 

Is "Black Panther" a billion-dollar movie?

Jan 11, 2018

The new Marvel superhero movie “Black Panther” is breaking records — and it's not even out yet. Fandango says the first 24 hours of advanced ticket sales beat the sales for “Captain America: Civil War,” thus setting a new bar for Marvel. Disney, which owns Marvel, has been promoting the movie heavily. But there’s also been a whole lot of grass-roots support for “Black Panther.”

Click the audio player above to hear the full story. 

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