Economy & Business

Business news

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Sally Herships

When crowdfunding sites like Kickstarter and Indiegogo first got their start, the idea was that all an entrepreneur needed was a cell-phone camera and a dream.

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Marketplace

With President Trump abroad this week, the business news agenda was set early this week by Ford. The American car maker announced over the weekend that CEO Mark Fields will be replaced by Jim Hackett, who most recently headed the company anonymous car division. We'll talk with executive chairman Bill Ford about it, plus we'll get some perspective from the Wall Street Journal's car critic. Then: Trump's clubs and resorts are exclusive and pricey, but if you're a hacker it's easy to get in and that could create a big national security problem.

05/22/2017: Cereal may no longer be a breakfast staple

May 22, 2017

As part of a wider shakeup at Ford, the car company is replacing CEO Mark Fields with Jim Hackett, a former leader of the company's self-driving car unit. We'll explore more of Hackett's background and why investors wanted Fields out. Afterwards, we'll look at the decline of cereal and then dive into the wind power boom happening in Texas.

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

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Jana Kasperkevic

Starting in 2018, anyone in the U.S. will be able to pick up a Kinder Egg without having to worry about incurring the wrath of the Food and Drug Administration. Except, this Kinder Egg will look slightly different than its outlawed cousin.

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

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Jana Kasperkevic

People buy a lot of stuff. As the global middle class grows from 2 billion people in 2010 to 5 billion in 2030, we are bound to buy even more stuff. That means companies will have to produce more even as natural resources are dwindling. As a result, many manufacturers are trying to come up with a long-term sustainability strategy to replace the old “take, make, dump” business model.

Ford to fire CEO Mark Fields

May 22, 2017
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Marielle Segarra

Ford is replacing CEO Mark Fields. The auto company’s stock price and U.S. market share have been falling, and last week it announced plans to lay off 1,400 people. 

Take a stroll down the cereal aisle at your local grocery store, and check out the Lucky Charms. General Mills, the cereal’s maker, has an attention-grabbing promotion right now: It’s giving away 10,000 boxes with nothing but those brightly colored marshmallow pieces inside. It raises health and nutrition issues, and also points to some serious challenges facing cereal in today’s ultra-competitive marketplace. And that explains one possible reason for this sugar-coated promotion: Cereal sales have fallen 3 percent a year since 2012, the market research firm IBISWorld says.

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Andy Uhler

John Dudley lives in Comanche, Texas, and wears a couple of hats: He's a cattle rancher and a wind farmer. We met on his 20,000 acres in the Texas hill country. His land holds more than half of the 87 turbines that make up the vast Logan’s Gap Wind Farm. His brown Herefords roam among the giant stalks, as they spin up to 40 stories overhead.

“Yeah, we put up some turbines, and that changes the way the hilltops look," he told me. "But we think that will probably be instrumental in allowing us to continue to own our family lands.”

The Trump administration is expected to release its detailed 2018 budget tomorrow. According to “near-final” documents leaked to the Washington Post last week, the proposed cuts include more than $10.5 billion in federal education initiatives. On the chopping block are more than $1 billion in grants that fund after-school and summer programs for low-income kids. 

Click the audio player above to hear the full story.

Updated at 10:30 a.m. ET

Ford Motor Co. announced Monday that it has replaced President and Chief Executive Officer Mark Fields, who is retiring after nearly 30 years with the automaker.

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Marketplace

Over the past several weeks, we've been exploring aspiring tech hubs across the country. Cities — big and small — want to be the next Silicon Valley. Well, what about Phoenix, Arizona? It's becoming a hotbed of startup activity that has attracted the likes of Uber, Waymo and Intel. We'll take a look at the city's strengths, along with some of the challenges it faces on the way.

05/22/2017: Ford to fire CEO Mark Fields

May 22, 2017
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Marketplace

With Ford's stock down from 2014 levels, the company is gearing up to remove Mark Fields as CEO. We'll take a look at some of the criticisms that investors had about Fields, and who he's being replaced by. We'll also take a close look at one Rhode Island after-school program that faces closure over Trump's budget cuts. Plus: a look at the peripheral industry that's sprung out of crowdfunding, which includes crowdfunding consultants, social media managers and marketers.

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

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