Money Talking

The largest fast-food company in the world -- with about 24,000 stores -- was once known for its rapid expansion mindset. Now, Subway is closing stores faster than ever and pushing out franchise owners in the process. In a recent report by the New York Times, franchisees across the country said that seemingly tiny violations, like cucumbers cut too thick and smudges on glass doors, have cost them their businesses. And when they try appeal to Subway's corporate leadership? They rarely get a response.   This week on Money Talking, guest host Ilya Marritz talks to Tiffany Hsu, a business reporter at the New York Times who co-reported the piece, about how Subway's efforts to scale back have impacted franchisees.

Next week marks fifty years since Neil Armstrong took “one small step” on the moon’s surface. The Apollo 11 mission was an historic voyage, fulfilling President John F. Kennedy’s goal of reaching the moon by the end of the 1960s. More than half a billion people watched the astronauts live on television. But in the years that followed, America’s interest and commitment to space exploration largely disappeared.  Yet the country’s ambitions in space are far from over. In March of this year, Vice President Mike Pence expressed a renewed sense of urgency. “Make no mistake about it — we're in a space race today, just as we were in the 1960s, and the stakes are even higher,” he told attendees at a meeting of the National Space Council in Alabama. At the same meeting, Pence presented a new timeline for landing humans on the moon again: Within the next five years, four years sooner than the administration's initial timeline of 2028, leaving some to wonder if a new space race could be on the horizon.   This week on Money Talking, Charlie Herman talks to Tim Fernholz, a reporter at Quartz covering space and author of Rocket Billionaires: Elon Musk, Jeff Bezos and the New Psace Race, about the latest chapter of space exploration.

This weekend marks the 50th anniversary of the Stonewall Riots and the birth of the modern gay rights movement in this country. Over the intervening years as attitudes towards LGBTQ people have changed, corporate America has taken note. Whether it's McDonald's selling special-edition “Pride Fries” or Walmart’s (online) Pride Shop, companies have very publicly been displaying support for the community over the last few years. It’s a dramatic shift from the days of Anita Bryant and Florida orange juice or companies like Wendy’s pulling their advertisements after Ellen came out on her sitcom. The greater acceptance of the LGBTQ community has presented an opportunity for businesses. While some take issue with companies commercializing this weekend's pride events, it’s hard to ignore how much mainstream businesses have embraced LGBTQ culture and consumers. This week on Money Talking, Charlie Herman talks to Jim Ellis, assistant managing editor at Bloomberg Businessweek, about the business of pride past, present, and future.

How a little known group of business leaders is influencing the administration's policies on trade, business and the economy.

Since its opening in 1907, the story of the hotel has been the story of New York: a history littered with colorful guests, financial uncertainty, and a controversial transformation.

With just a few weeks left in the New York State legislative session, the future of rent regulations is still uncertain.

The president has effectively banned U.S. companies from doing business with the Chinese telecom giant. What it means for national security, trade, our phones, and more.

A three-foot tall, stainless steel rabbit by Jeff Koons set the art world abuzz after selling for a record $91.1 million at auction. What does it tell us about the economy?

President Donald Trump has stymied hopes of a trade deal by raising tariffs on Chinese goods. In retaliation, China put additional tariffs on U.S. goods, causing the stock market to plunge that day. The Trump administration responded to that by taking steps to implement tariffs on even more Chinese products. So, who’s winning the trade war? Trump’s approach could signal a historic shift in U.S. policy which has largely encouraged free trade around the globe. The casualties of this fight could include American farmers, the Chinese companies, and the U.S. economy and consumers. But it might also lead to changes in how U.S. companies conduct business in China. This week on Money Talking, POLITICO Chief Economic Correspondent Ben White talks to host Charlie Herman about how much these escalating tensions should concern us.

Recent financial reports filed by the 2020 presidential candidates show vastly different amounts of money raised in varying amounts from many different sources. Some candidates are focusing on small donors, others are turning to high-dollar bundlers and some are dipping into their own bank accounts. For example, Senator Elizabeth Warren raised raised $6 million in three months for her campaign, while Joe Biden and Beto O’Rourke each raised that much in just a day. Yet with more than a year to go until the 2020 election, how much will the money they raise today matter in the long run? This week on WNYC’s Money Talking, host Charlie Herman talks to CNN national political writer Fredreka Schouten and The Washington Post national political reporter Michelle Lee about the candidates’ funds so far and their chances in the long run.

After months and months of speculation, former Vice President Joe Biden announced he’d be running for president in 2020. Already an early frontrunner, Biden joins a crowded field of potential Democratic nominees. There are now more than 20 candidates running, from policy wonk Elizabeth Warren to newcomer Pete Buttigieg to 2016 veteran Bernie Sanders. The Iowa caucuses are nine months away and if everyone stays in the race, it could challenging for voters to keep track of where the candidates stand on critical policy issues like healthcare, taxes, and climate change. This week on Money Talking, WNYC's Charlie Herman talks to Rick Newman, senior columnist for Yahoo Finance, about some of the fiscal policies being put forth by the Democratic contenders — and what they might mean for your pocketbook. 

"Avengers: Endgame" is officially opened at movie theaters across the country. It’s the most highly-anticipated movie event of the year and is expected to set a new box office record. Iron Man, Captain America, Black Widow, and the whole Avengers crew are back to do battle with super villain Thanos after he wiped away half of the universe’s population with a single snap of his fingers in last year’s "Avengers: Infinity War." The movie is the culmination of a groundbreaking superhero movie franchise that’s pushed out 22 films in 11 years, starting with the blockbuster "Iron Man" in 2008. With this movie, the so-called Marvel Cinematic Universe is expected to easily bring in more than $20 billion in global box office earnings. Love it or hate it, this franchise has become one of the most ambitious commercial endeavors in the history of Hollywood. This week on Money Talking, Charlie Herman talks to Adam B. Vary, senior film reporter at BuzzFeed News, and Hunter Harris, associate editor at New York Magazine’s Vulture, about how the Marvel universe has changed the movie business.

Uber has taken its first steps to becoming a publicly traded company, following rival Lyft’s debut on the stock market last month. The initial filing from Uber reveals even more extensive details about the company's revenue, ridership and potential roadblocks. The good? Ridership is up and Uber is expanding its food delivery service. The bad? The rid-hailing company is losing huge sums of money and faces steep competition. This week on WNYC’s Money Talking, Charlie Herman talks to Aaron Elstein, Senior Reporter for Finance at Crain's New York Business and Maureen Farrell, IPO and markets reporter for the Wall Street Journal, about the latest information about Uber and what is says about the future of tech and driving.

Much of the way influential consulting firm McKinsey & Co. operates is shrouded in secrecy. But recent reporting by the New York Times has revealed some of the company’s secrets, including its involvement with controversial companies like Purdue Pharma, the maker of OxyContin, as well as foreign leaders and governments in Saudi Arabia and South Africa. Additional stories have focused on the firm’s hedge fund MIO and alleged failures to make required financial disclosures. McKinsey has defended its work around the world. In a statement, the firm told the Times that “since 1926, McKinsey has sought to make a positive difference to the businesses and communities in which our people live and work.”  This week on Money Talking, Charlie Herman talks with New York Times investigative editor Walt Bogdanich and investigative reporter Mike Forsythe about their reporting on the often hidden world of McKinsey and why it matters.

New York City just became the first city in the country to implement congestion pricing. As part of the effort to ease traffic and raise money to fix public transportation, drivers entering Manhattan below 60th Street could pay between $10 and $15 per day for cars and possibly double for trucks. But how the system will work technologically, who might be exempted from paying the fees and how much they will actually raise are details that have yet to be decided. Cities like London and Stockholm have already implemented congestion pricing, but with mixed results. This week on Money Talking, Charlie Hermanand WNYC transportation reporter Stephen Nessen talk about the ways congestion pricing will cost you, and how it might pay off.