Joe Nocera is an op-ed columnist with The New York Times and a regular contributor to WNYC. He has been reporting on business and finance for three decades in such publications as Fortune, Esquire, Texas Monthly, Newsweek, and joined the Times as a business columnist in April 2004. His most recent book, co-written with Bethany McLean, is All The Devils: The Hidden History of the Financial Crisis, their best-selling account of the financial crisis.
The trial begins today in the case of Ed O’Bannon vs. the N.C.A.A., a legal dispute that may have longstanding implications for the lucrative world of division I college sports.
A group of football players at Northwestern University are attempting to organize and join a labor union. It’s the latest move in the complicated relationship between the NCAA and its athletes, some of whom believe they should be payed and protected as workers. Joe Nocera, columnist for our partner The New York Times, says these student athletes should be able to form a union. Former NCAA athlete Ibrahim Abdul-Matin agrees. Ibrahim is a former linebacker at the University of Rhode Island and an NCAA scholar-athlete.
For a period of time after December's elementary school shooting in Newtown, Connecticut, Americans felt a collective sense of outrage that something had to be done about gun violence in this country. But that support appears to have waned. Joe Nocera, author of the the Gun Report in The New York Times, explains why.
The New York Times debuted their new CEO recently. The addition of Mark Thompson has raised questions however because of a a scandal that emerged out of the BBC. Times columnist Joe Nocera gives us an update from inside the paper.
A committee of university presidents has approved a new playoff system for college football. After this year, the much-derided Bowl Championship Series will come to an end, and be replaced by a four-team playoff and a Super Bowl-style title game.
Last night in Wisconsin, voters weighed in on whether Governor Scott Walker would stay in office. The recall began with protests over Governor Walker's attempts to curb union bargaining power in Wisconsin. However, as the election approached it grew into a divisive political fight, with $60 million on both sides. Whether or not the Wisconsin recall will prove to be a bellweather for the 2012 presidential election, it's certain to have implications for the future of labor unions throughout the country.
New Jersey Governor Chris Christie announced last week that he will defy a federal ban on sports gambling and that he hopes to let New Jersey residents legally bet on sporting events by fall of this year. His chances of success seem slim, but his outspokenness has reinvigorated national debate on the topic. Sports gambling: should it be legal?
Yesterday the U.S. Department of Justice sued Apple and five major publishers on antitrust grounds, alleging they fixed prices of e-books throughout 2010. According to the Department, consumers may have been paying as much as $5 too much for e-books. Three of the publishers have settled. Joe Nocera is an Op-Ed Columnist at the New York Times, and joins us to talk about how book pricing works, and what yesterday's legal actions mean for the future pricing of e-books.
"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.
All this week, the Supreme Court has heard arguments on the constitutionality of the Affordable Care Act. The centerpiece of President Obama's health care reform legislation — and the focus of the debate at the Court — is the individual mandate, which requires all Americans to purchase health insurance or pay a fine. The Court won't issue a ruling until June, but if they do declare the mandate unconstitutional, how much of a real difference will it make for you and your health care?
There's a lot of money to be made off March Madness. At $122 billion, the amount of spending the NCAA's annual basketball tournament generates is equal to Iceland's GDP. That total includes $614 million in TV advertising, $300 million in NCAA merchandise, and $185 million in corporate sponsorship. So why aren't the athletes paid?
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?
As voters in Michigan prepared to head to the ballots Tuesday, President Obama delivered a rousing speech to the United Auto Workers Union in Washington D.C., taking the opportunity to campaign on the success of the auto-bailout. Three years and some $80 billion later, the rescue of Chrysler and GM has remained fresh in the minds of voters in Michigan. However, the significance of the bank and auto bail-outs may mean something else — or perhaps nothing at all — to voters in other parts of the country.
Greece has once again narrowly avoided defaulting on their $172 billion debt by agreeing to more austerity measures and selling off profits to euro zone countries. However, it's unlikely this development will ease the dire situation of its population: nearly 20,000 Greeks are homeless and 21 percent are unemployed. Stateside, there were signs of recovery when on Tuesday the Dow hit 13,000 for the first time since 2008. But if the last four years have proved nothing else, it's that what happens across the globe can directly impact a market at home.
The theme of last night's State of the Union was "an economy built to last." Vowing to protect the middle class and correct economic inequality, President Obama laid out his plans for financial reform: regulating home prices, penalizing banks that participated in the housing crash, imposing the "Buffet rule," and tightening regulations on private equity and Wall Street.
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.
The Obama administration plans to cut executives' pay at companies that received taxpayer money as part of the financial bailout. Meanwhile, the Federal Reserve says it will monitor bank pay packages in the hopes of deterring payouts that reward overly-risky behavior. For a look at what this means for recruiters we're joined by Joe Nocera, business columnist for The New York Times.
A year ago today, the U.S. Department of the Treasury bailed out mortgage giants Fannie Mae and Freddie Mac. By the end of the week, financial behemoth Lehman Brothers had filed for bankruptcy and a global economic crisis had taken hold. We start a week of coverage that looks at the repercussions of the financial meltdown and where we're at, a year after it began.
We are joined by a roundtable of leading business journalists including Gillian Tett, capital markets editor for The Financial Times and author of “Fools Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe;” Jon Hilsenrath, chief economics correspondent for The Wall Street journal; and New York Times business columnist Joe Nocera.
Listen to all the segments in this series.