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The Takeaway

Detroit Avoids State Takeover

Thursday, April 05, 2012

Detroit has had today’s date circled on its calendar for months. Under a state statute, today marks the deadline for Michigan Governor Rick Snyder to decide how to appropriately handle Detroit’s $200 million budget deficit. Laura Weber, a reporter for WDET, updates us on the latest out of Detroit. We also speak with City Council President Charles Pugh.

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The Takeaway

Yahoo Layoffs Cautionary Tale For Creative Capitalism

Thursday, April 05, 2012

"Do you Yahoo?" was the web giant's catchphrase, but not enough people are answering in the affirmative these days. Yahoo has announced that it is laying off 2,000 employees in the hopes of turning around the company. Joe Nocera, Op-Ed columnist for our partner The New York Times, says Yahoo should be a cautionary tale for other tech companies like Google and Facebook, who might be next in line.

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The Takeaway

Women Will Destroy the World. Really?

Wednesday, April 04, 2012

A new report by Germany's central bank says women at the top of the banking industry spur their male colleagues to take bigger risks. Based on an analysis of German bank executive teams from 1994 to 2010, the Bundesbank study undermines the widely held view of the "calming influence" female staff have on a male-driven industry. The report – which also says the presence of women in senior roles was a contributing factor to the banking crash – has provoked a furious response. Mary Ellen Iskenderian is the President and CEO of Women's World Banking.

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The Takeaway

Car Sales Are Up, Are They Sustainable?

Wednesday, April 04, 2012

If you need proof that the economy is looking up, you need only look as far as your neighborhood car lot, or maybe even your own driveway. This week it was announced that there was a major bump in March auto sales. How major? Chrysler alone experienced a 34% increase in sales over the course of the month. Paul Eisenstein is the publisher of TheDetroitBureau.com. He explains what to make of these auto numbers, and whether they’re sustainable.

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The Takeaway

Excerpt: "Rebuild the Dream"

Tuesday, April 03, 2012

In his newest book, Rebuild the Dream, green economy pioneer Van Jones reflects on his journey from grassroots outsider to White House insider, shares intimate details of his time in government, and provides a blueprint to reinvent the American Dream. Along the way, he contrasts the structure and rhetoric of the 2008 Obama campaign, the Tea Party movement and Occupy Wall Street. Below are his thoughts on cheap patriots versus deep patriots, and the way forward to reclaim, reinvent, and renew the American Dream. You can order the book here.

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The Takeaway

Is Happiness More Important than GDP?

Monday, April 02, 2012

Today the United Nations will discuss happiness. Does happiness contribute to the well-being of the world? Tom Barefoot, co-coordinator of Gross National Happiness USA, believes that having a sound economy might be less important than having a country filled with happy people. How do we measure — or achieve — something so abstract?

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The Takeaway

Foxconn Pledges to Improve Working Conditions

Friday, March 30, 2012

After a comprehensive inspection by the Fair Labor Association, Chinese factory Foxconn has agreed to cut worker's hours and increase their wages. Apple, whose products are manufactured at Foxconn, cheer the promises of reform. If implemented, these changes could prompt an overhaul of Chinese labor laws. Charles Duhigg is a New York Times business reporter.

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The Takeaway

Apple Announces Plans for 100 Billion Dollar Stockpile

Monday, March 19, 2012

This morning, investors found out Apple's plans for its stockpile of almost 100 billion dollars in cash. Apple says it will use some of its money to pay a dividend to shareholders and buy back some of its shares. 

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The Takeaway

Ron Lieber Responds to Takeaway Listeners' Job Stories

Friday, March 16, 2012

This week and last we asked you about your job and you responded with a flurry of calls. Takeaway listeners told us stories about loving and hating their jobs, having to relocate to find work, taking second and third jobs, and having to cut their own pay as small business owners. The economy may be improving, but many Americans are still struggling to make ends meet.

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The Takeaway

Fallout from Former Goldman Sachs Employee Piece in New York Times

Thursday, March 15, 2012

Former Goldman Sachs employee Greg Smith has cost the company more than $2 billion in stock value since his op-ed piece ran in the New York Times yesterday. Smith's very public jump from the company at the top of the Wall Street food chain has raised some questions about Goldman's internal culture, it's capacity to learn lessons from past mistakes and it's ability to control its own brand.

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The Takeaway

Goldman Sachs Employee's Public Letter of Resignation

Thursday, March 15, 2012

When Goldman Sachs employee Greg Smith handed in his letter of resignation, he did so in the most public manner possible — by posting it in the pages of The New York Times. In his letter, the former derivatives trader described the firm's working environment as "toxic and destructive" and accused their culture of placing company profits over client interest whenever possible.

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The Takeaway

Listeners Respond: Making a Move to Find Job Opportunities

Wednesday, March 14, 2012

We've been asking our listeners this week about their relationships with their jobs. One thing that's touched a nerve is the question of far young workers are willing to go to find good opportunities. Many younger listeners told us they were open to taking a risk and moving somewhere new, but it just wasn't a decision they could afford to make. However we did also hear from more than a few listeners who did manage to take a leap.

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The Takeaway

Is the Price of Gas the Only Economic Indicator that Matters?

Wednesday, March 14, 2012

Most economic indicators point to America being on the upswing in 2012. The stock market is up. Unemployment is down. And the strains in the global financial markets have eased. Yet 59 percent of voters rate President Obama negatively when it comes to the economy, according to a new Washington Post/ABC poll.

Could it be because of the one economic indicator that’s stubbornly not improving: gas prices?

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The Takeaway

Obama Administration Rejects Keystone Pipeline

Thursday, January 19, 2012

On Wednesday the Obama administration denied a permit for the Keystone XL pipeline project. TransCanada, the company behind the proposal, hopes to build a 1,700 mile pipeline that will carry oil from the tar sands of Canada to the refineries lining the Gulf Coast along Texas. Although it will cost $ 7 billion to build, TransCanada claims the project will create ten of thousands of jobs. Environmentalist are most concerned about the water supply in ecologically sensitive in Nebraska's Sand Hills region, which TransCanada claims it has addressed by creating a new proposal that circumvents the Sand Hills.

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The Takeaway

A Positive Spin on SOPA and PIPA

Wednesday, January 18, 2012

Wednesday sites like Wikipedia and Reddit pulled the plug for 24 hours to protest the Stop Online Piracy Act (SOPA) and Protect IP Act (PIPA), acts that threaten the existence of such sites. SOPA is up for heated debate not only in congress, but online also. Steve Tepp, who represents the working man in Hollywood, and Scott Harbinson, who deals with movie business clients, discuss why they support SOPA and PIPA.   

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The Takeaway

Joe Nocera on the Regulation of Big Banks

Tuesday, January 17, 2012

The issue of how to keep big banks in check is the topic of national conversation as the country slowly climbs out of the recession. Questions on how to prevent another economic recession and regulate the financial sector are part of the heated debate. Joe Nocera, Op-Ed columnist for the New York Times explains how "complexity risk" — what results when there are too many regulations — could pose a threat to the financial system.

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The Takeaway

The Economic Forecast for 2012

Friday, December 30, 2011

As evidenced by the Congressional debt panel's failure, MF Global's $600 million missing investor funds, and lagging employment numbers, the U.S. has a long way to go in terms of solving the economic problems that created the 2008 financial crisis. And there are plenty of potential pitfalls abroad — China's inflation rate is at 10 percent, and the euro zone's ongoing debt crisis. Yet, there are bright spots with many manufacturing, energy, and tech sector jobs growing.

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The Takeaway

Weighing Solutions for Euro Zone Crisis

Thursday, December 01, 2011

In an effort to help alleviate the symptoms of Europe's debt crisis, the Federal Reserve, the European Central Bank, and other international banks funneled U.S. dollars into European financial systems on Wednesday. The move helped markets by making American dollars more easily available outside the U.S. Stocks shot up in reaction to the news. The increased liquidity had the immediate effect of boosting the Dow Jones industrial average by 484 points. It was the biggest single day gain since March 2009. Some wondered, however, whether the move was a smart long-term investment, or just a temporary fix.

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The Takeaway

Spending the Night at Occupy Wall Street

Tuesday, October 18, 2011

When the TV cameras are gone, what is it like to spend the night at Occupy Wall Street? It's been a month since protesters first began to occupy Zuccotti Park, near Wall Street in New York City. Since then, temperatures have been dropping as the number of protesters in New York and across the globe grows. This leaves many wondering how many protesters will be left when winter hits. Well, we aimed to find out — and to understand better just who was spending the night there and why.

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The Takeaway

Is There Too Much Corporate Money in Politics?

Monday, October 17, 2011

All over the news — including here on The Takeaway — we've been hearing about Occupy Wall Street and the complaints of the "99 percent" against politicians and big corporate interests. But what exactly is the Occupy Wall Street movement alleging? One of the protesters' main complaints is that the political system is currently in the grips of corporate financial control. They may have a point, but how strong is their argument? Is our political system truly broken by the amount of money injected to campaign financing or by the lobbyists who peddle influence on K Street? Or, have money and special interests always been part of the political process?

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