0:02

On the show today, we'll talk about

0:04

the health of small business, the health

0:06

of household finances, and end with a

0:08

healthy balance of ice cream. From

0:11

American Public Media, this is Marketplace.

0:22

In New York, I'm Kristen Schwab in for

0:24

Kai Rizdahl. It's Wednesday, May 8th. Thanks

0:27

for joining. Have you ever

0:29

walked into your local supermarket or wine shop

0:31

or hardware store and taken a look at

0:33

what's on the shelves? Like really

0:36

take it a look. What's

0:38

up for sale and how well stocked those

0:40

shelves are can tell you a lot about

0:42

how a business owner feels about the economy.

0:45

I say all this because we learned

0:47

this morning that in March, wholesalers' inventories

0:50

fell from the month before, down 4

0:52

tenths percent according to the Commerce Department.

0:55

Meanwhile in April, a different survey

0:57

of business owners called the Logistics

0:59

Manager's Index shows inventories barely ticked

1:02

up. So Marketplace's Justin

1:04

Ho called up a few small businesses

1:06

to get the scoop on how they're

1:08

thinking about what and how much they're

1:10

stocking. Earlier in the

1:12

year, Pat Wayland decided to bring in a

1:15

lot of inventory for his grocery store and

1:17

wholesaling business in Brooklyn called Sahadi Fine Foods.

1:19

He imports a lot of products from parts

1:21

of the Middle East that are really unstable

1:23

right now. The political climate

1:25

there meant I had to bulk up inventory,

1:27

put a buffer here, add another couple of

1:30

months to the inventory cycle. But

1:32

Wayland says bulking up on inventory is a

1:34

whole different challenge because it requires borrowed money

1:36

and with interest rates as high as they

1:39

are. The cost of your inventory is two to

1:41

three times what it was a few years ago. As

1:43

a result, Wayland says he's trying to be a

1:46

little smarter about his inventory levels. We're

1:48

still going to continue to replenish, but we need

1:50

to take that buffer down a little bit. Some

1:53

of other businesses had been loading up on

1:55

inventory this year because they thought if the

1:57

Federal Reserve caught interest rates soon... Murray's

2:00

would be ready to spend more. At

2:02

stale Rogers said professor at Arizona State

2:05

University who helps put together the Logistics

2:07

Managers' index. He says businesses of realize

2:09

that it's not clear whether the several

2:11

cut rates at all this year as

2:13

a result. They're making

2:15

decisions in some cases

2:18

to postpone purchases till

2:20

they absolutely need it.

2:23

That kind of just in time. Him and Tory

2:25

management has a lot of advantages. Catherine

2:28

Reynolds handles imports, had Palmetto Towel

2:30

Distributors, and South Carolina. She's also

2:32

ordering less inventory right now when

2:34

she. Says that lets stay nimble. As

2:37

idea say something that's not selling that I can

2:39

easily in our sell off the last part of

2:41

it. Not have to worry, not be stuck with

2:43

inventory that's kind of gone stale so to speak.

2:46

Reynolds. As keeping him in Tories low. Awesome!

2:48

What's her experimental? In a more for instance,

2:50

you can bring in a small amount of

2:52

new boulder titles for It's no big deal

2:55

if they don't sell, but if they do

2:57

then great. With. Work for the lab

2:59

architects and designers and it's always good deck

3:01

and to pique their interest and have the

3:03

latest greatest things turn to offer them. Reynolds.

3:05

Says that can help or boost sales

3:08

even when the economy's uncertain. I'm

3:10

Justin. How for Marketplace? Wall

3:12

Street today a little up, a little down.

3:15

Love the details when we do the numbers.

3:45

We talked about the tough spot aspiring

3:48

homebuyers and even some home owners are

3:50

in right now. fault things

3:52

are not exactly rosie out there for

3:54

renters either in almost every single big

3:57

city in the us over the last

3:59

five years Rent have grown faster

4:01

than wages. On average, about one and

4:03

a half times faster. That's

4:05

according to new data from Zillow and StreetEasy.

4:08

There are some exceptions. In Austin,

4:10

San Francisco and Portland, wage growth

4:12

has actually outpaced rent growth. But

4:15

here in New York, rent has

4:17

risen seven times faster than wages.

4:20

Marketplace's Samantha Fields reports. I'm

4:23

going to say it again because I think it bears

4:25

repeating. Rent in New York

4:27

City rose seven times faster than wages

4:29

did last year. And

4:31

yes, New York is notoriously expensive.

4:34

But it's not just New York.

4:36

It's also Boston, Cincinnati, Buffalo, Chicago.

4:39

As long as there are people who are

4:41

willing to pay those rents and prices, the

4:43

market will keep going up. Jenny

4:45

Schutz at the Brookings Institution says that's what we've

4:48

been seeing in the last couple of years. People

4:51

who own real estate, people who own stock

4:53

portfolios, people in really high-paid jobs are doing

4:55

extremely well in this economy. That means they

4:57

have a lot of money to spend on

4:59

housing. And increasingly, a lot of

5:01

them are renting, partly because there are so

5:03

few houses to buy. And

5:05

that is driving up rents for everyone. David

5:08

Dworkin at the nonprofit National Housing Conference

5:10

says this is putting a particular strain

5:13

on lower-income people. You're talking

5:15

about the person who makes your coffee,

5:17

the person who serves you lunch, the

5:19

people in your doctor's office, the people

5:21

who come to rescue you if you

5:23

get into a car accident, the nurse

5:25

at the hospital. Over half

5:27

of renters were cost-burdened as of

5:30

2022, meaning they're spending more

5:32

than 30 percent of their income on

5:34

rent. Igor Popov, chief economist at Apartment

5:36

List, says as rents have spiked, we've

5:39

also started seeing fewer people forming new

5:41

households. That means that folks

5:43

aren't going out and getting that new apartment,

5:45

aren't moving out from living with

5:47

parents, with family at the same clip that they were,

5:50

because they're kind of looking at a market and saying,

5:53

well, maybe it doesn't make sense right now. Things

5:55

are starting to improve for renters in some

5:57

markets, says Kenny Lee, senior economist at Apartment List.

6:00

at Street Easy and Zillow. Austin

6:02

and Houston, Texas are

6:04

great examples. In both of

6:06

those cities, wages grew faster than rents. What's

6:09

different about them is the substantial

6:11

increase in the supply of new

6:13

rental buildings. Really

6:16

simply put, building more can make

6:18

such a big difference for renters.

6:21

Only most cities aren't doing enough of

6:23

it. In New York, I'm

6:25

Samantha Fields for Marketplace. Let's

6:53

go from wages and rent to

6:55

wages and basketball. The WNBA

6:58

preseason has been selling out games.

7:00

More than 6,000 people bought tickets

7:03

to see Indiana fever rookie Caitlin

7:05

Clark's debut against the Dallas Wings.

7:08

Clark and other high-profile members of her

7:10

draft class — Angel Reis, Cameron Brink,

7:12

Camila Cardozo — they're expected

7:14

to draw record crowds and viewership when

7:16

the regular season tips off next week.

7:19

But for all the fans and media focus

7:21

and money these rookies are bringing in, WNBA

7:24

players have relatively low salaries. They

7:27

fall in the mid-70,000-dollar range. But

7:30

as Marketplace's Savannah Marr reports, new fans

7:32

and interest from investors could help turn

7:35

that around. The

7:37

WNBA draft isn't typically

7:39

appointment viewing, but this

7:41

year 2.4 million people tuned

7:43

in — more than four times the

7:45

previous record. The

7:47

Indiana fever selects Caitlin

7:50

Clark, University of Iowa. Clark,

7:53

who's dressed head-to-toe in Prada, by the

7:55

way, has already made over $3 million

7:58

in endorsements. after

8:00

as decorated a collegiate career

8:02

as we have ever seen.

8:05

She's reportedly working out a $28 million deal with Nike.

8:09

So it's not like she'll live off

8:12

her WNBA earnings. But many

8:14

of her teammates will. And

8:16

News of Clark's five-figure salary was

8:18

astonishing for some fans. Not

8:21

everyone. Welcome to the party. We've been

8:23

trying to figure this out for some time. Thayer

8:26

Labial is with The Collective, which advocates

8:28

for women in sports and recently did

8:30

an audit of the athlete pay gap.

8:33

What we found was that women athletes

8:35

make 21 times less than men athletes

8:37

on the field of play. That's

8:40

on average. In professional basketball,

8:42

it's worse. Women

8:44

make 108 times less than their counterparts

8:46

in the NBA. And

8:48

of course, the NBA is 50 years

8:50

older than the WNBA. It

8:52

brings in billions more in revenue. But

8:55

Labial says the forces behind

8:57

those disparities are entrenched. It's

9:01

a challenge from needing enough

9:03

eyeballs in order to get the dollars, but in order to

9:05

get the eyeballs, you need to get the dollars. Let's

9:08

start with the eyeballs problem. For

9:10

decades, sports media was controlled by

9:12

a handful of old guard gatekeepers,

9:15

says Alicia Jessup, who studies the

9:17

business of sports at Pepperdine. If

9:19

you look at who the decision

9:21

makers are, they tend to be

9:23

middle-aged white men. Women

9:25

who long assumed there wasn't a market

9:27

for women's sports. So

9:29

they didn't get TV spots or coverage

9:32

by sports journalists. But now, Technology,

9:35

streaming, and social media,

9:37

what it has done is it's

9:40

democratized media. Athletes

9:42

and teams can market directly to fans

9:44

who can watch and engage with women's

9:46

sports more easily than ever. But

9:49

Jessup says there's a lingering investment

9:51

problem. For so long,

9:53

women's sports has been treated like

9:55

a charity case or a side

9:57

project. of

10:00

money behind an athlete or a league, but

10:02

then back off when they don't immediately see

10:04

a return. Jessup says

10:06

leaders in this space don't need to

10:09

play scared. What that means

10:11

is you place your financial bet,

10:13

but then you double down on

10:15

it by spending appropriately

10:17

on marketing and promotion so

10:20

that your investment can make

10:22

significant gains. Like how

10:25

investors have always treated men's sports.

10:28

Jessup guesses were years out from

10:30

the Kaitlyn Clark's of the world

10:32

making multimillion-dollar salaries, but

10:34

the true fandom and star power

10:36

around Clark and others in this

10:39

highly anticipated rookie class could

10:41

help move things along. I tell

10:43

you what, what a great time to be

10:45

a fan of women's basketball. Kiitra

10:47

Armstrong is a professor of sport management

10:49

at the University of Michigan. She's

10:51

also lived and breathed women's sports

10:53

for decades and watched critics put

10:55

the blame on women athletes for

10:58

revenue shortfalls and their low salaries.

11:00

There was a time that people

11:02

thought, yeah, yeah, women's sports is

11:04

an inferior version. The

11:06

media records tell us that's not the

11:08

case. Armstrong hopes this wave

11:10

of fan interest can put that conversation

11:12

to bed and put a

11:15

spotlight on the investments needed to get

11:17

women athletes paid. I'm

11:19

Savannah Marr for Marketplace. Coming

11:42

up 20 years ago, there was

11:44

no Amazon. We are trying to compete with

11:47

all of those service providers. Oh,

11:49

how times have changed. But first, let's

11:51

do the numbers. The

11:54

Dow Jones Industrial Average rose 172 points or 10th percent

11:56

to close at 39. The

12:00

NASDAQ fell 29 points, about 2 tenths percent, to finish at

12:02

16,302. And

12:07

the S&P 500 barely budged, ending at 5187. Samantha

12:12

Fields told us about the gap between wage

12:14

growth and rising home rental costs. Let's check

12:16

in on some publicly traded rental companies.

12:19

Invitation Homes shaved off 8 tenths

12:21

percent. American Homes for Rent subtracted

12:23

8 tenths percent as well. Blackstone

12:25

retreated 1.4 percent. Futuring

12:29

firms drove in opposite directions today.

12:31

Uber shares fell 5.7 percent

12:33

after the company reported first quarter results that

12:36

were kind of mixed. Lyft

12:38

rose 7.1 percent after the

12:40

company reported faster than expected revenue

12:42

growth. Bond prices fell. The yield

12:44

on the 10-year T-note rose to 4.49 percent. You're

12:48

listening to Marketplace. Hey

12:57

everyone, it's Rima Khres, host of This

12:59

is Uncomfortable. If you're looking for some

13:01

good recommendations on books to read, well

13:04

you should join This is Uncomfortable from our

13:06

book club. Every other week

13:08

in our newsletter, we'll share a new book

13:10

that'll make you rethink your relationship to money,

13:12

class, and work, while also featuring

13:14

an interview with the author or an expert on

13:16

the topic. Plus, when you join,

13:18

you'll be entered in a giveaway where you can

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win some This is Uncomfortable merch. Be

13:23

sure to check it out. Sign up

13:25

today at marketplace.org slash book

13:27

club. This

13:31

is Marketplace. I'm Kristen Schwab. Americans,

13:34

generally speaking, built up a pretty

13:36

good cash cushion during the pandemic.

13:38

Economists at the San Francisco Fed found that

13:41

by August of 2021, we

13:43

collectively saved up to $2 trillion

13:45

more than we would have had

13:47

there been no pandemic. But

13:50

now those very economists say all the

13:52

extra savings are gone. So

13:54

where did all of it go? Marketplace's Kaylee

13:57

Wells talked to some economists about how they

13:59

spent their savings. savings and where everyone else's

14:01

might have went. Preston

14:03

Moye earned his PhD during the pandemic. He

14:05

was dipping into savings and the stimulus checks

14:07

he got kept him from dipping too far.

14:10

It really helped me out. I probably

14:12

spent it on takeaway food when I

14:15

was writing my dissertation. Now

14:17

he's a senior economist at Employ America

14:19

and he says smaller savings accounts aren't

14:21

as worrisome for consumer spending as they

14:23

sound because there's an even more important

14:26

factor here, wages. And

14:28

the fact that labor income growth is still

14:30

strong employment is still strong and wage growth

14:33

is still strong leads me

14:35

to believe that consumption at least for the

14:37

foreseeable future is going to be healthy. Lots

14:39

of higher income households saved and invested

14:42

their money. That's what Scott Baker did.

14:44

He is a finance professor at Northwestern

14:46

University who says now that the savings

14:49

are gone and interest rates are up,

14:51

loan and credit card payments are more

14:53

challenging, especially for lower income households with

14:56

less financial wiggle room where the savings

14:58

probably ran out months ago. Those

15:00

debt payments are going to start to

15:03

bite a bit more and kind of continue to

15:05

take a chunk out of the disposable

15:08

income that households have. As

15:10

for one of the economists behind

15:12

the San Francisco Fed research, Hamza

15:15

Abdul-Rahman, he says that's a good

15:17

reminder of the fact that savings aren't

15:19

the only indicator of wealth here. A

15:22

lot of households like his used their

15:24

money to buy more non-financial assets, think

15:26

cars and houses. And that was thanks

15:28

to a low interest rate environment

15:31

and some influx of cash and

15:33

financial support at the beginning of

15:35

the pandemic. Those assets help

15:37

people to feel wealthier even as

15:39

their savings dwindle. And Abdul-Rahman

15:41

and his co-authors say the wealthier people

15:43

feel the more likely they are to

15:46

keep spending. I'm Kaylee Wells for

15:48

Marketplace. Thank

15:51

you. General

16:06

Electric has been a big piece of American

16:09

business for 132 years. So

16:12

big that it's almost hard to remember all

16:14

of the industries the company has touched. It's

16:17

made televisions and light bulbs, and

16:19

has even provided home mortgages. But

16:22

that is the past, because GE is

16:24

entering a new phase. Last

16:27

month it split into three separate companies,

16:29

a wind power business, an aerospace firm,

16:31

and a healthcare company. Marketplace's

16:34

Sabree Beneschor looks back at GE's

16:36

long history. The first

16:38

spoken words in human history to be

16:40

recorded and replayed were from a nursery

16:42

rhyme, recited by Thomas Edison in 1877.

16:46

The original recording was destroyed, but Edison

16:48

re-recorded it decades later. Mary

16:50

had a little lamb, it spilt quite

16:52

a slow, and everywhere that Mary went,

16:54

the lamb would shoot it all. Five

16:57

years after inventing the phonograph, in

16:59

1892, one of Thomas Edison's companies

17:01

merged with another electric company to

17:04

form General Electric. It wasn't

17:06

actually Edison's idea. It was J.P. Morgan's,

17:08

the original J.P. Morgan, like the guy. GE

17:11

ushered in the age of electricity, and

17:13

it was big from the get-go. You

17:16

have to think of it as

17:19

sort of the Microsoft, Google, Apple

17:21

of its time. William

17:23

D. Cohen is author of Power Failure, The

17:25

Rise and Fall of an American Icon. Edison

17:28

was a better inventor than a businessman,

17:30

and was quickly sidelined from leading the

17:32

new company, but it continued to create.

17:35

In the 1910s and 1920s,

17:37

it quickly became a

17:39

powerhouse of invention, innovation.

17:42

GE inventors developed radio broadcasts and an electric

17:44

car. In the 20s, GE got into home

17:46

appliances. By the 60s, it was making plastics

17:49

and silicones for the boots and helmets and

17:51

the moon landing. It also

17:53

got into the credit business. It

17:56

had started during the Depression to

17:58

help people buy GE products. that

18:00

they couldn't otherwise afford. By

18:02

the middle of the 20th century,

18:04

GE became seen as ubiquitous because

18:07

it was. And generally like this,

18:10

progress is our most important

18:12

product. GE

18:14

had a long and tense history with unions,

18:17

from the beginning, and its desire to escape

18:19

unions helped drive the company in 1956

18:21

to move its computing department out

18:25

of what would become Silicon Valley

18:27

and into Phoenix, Arizona. Elizabeth

18:30

Tandy-Shermer is a professor of history at

18:32

Loyola University. Phoenix, Arizona

18:34

has anti-union laws with a more

18:36

favorable labor and tax policy. That

18:39

decision proved fateful. The company that made

18:42

everything from A to Z ended up

18:44

losing out on C, computers. Because

18:47

the GE computing was so

18:49

removed from that hotbed of

18:52

computer innovation, they really got left

18:54

behind. But by 1999, GE employed 340,000 people worldwide, nearly

18:59

200,000 of them in the U.S. It

19:02

was still the quintessential conglomerate, and there

19:04

was a rationale for that. And

19:06

this was this notion that some degree of

19:08

the research would be shared across these industries.

19:11

Ted Mann is co-author of Lights Out, Pride,

19:13

Delusion, and the Fall of General Electric. He's

19:16

also a reporter at Bloomberg. He

19:18

says while one tentacle of GE could

19:20

theoretically help out the others, it could

19:22

also bring them all down. GE's

19:25

financial arm almost did both. Under

19:27

GE's most famous CEO, Jack Welch,

19:30

GE Capital had exploded. That

19:32

grew into what was essentially the seventh

19:34

biggest bank in the country. At

19:36

one point, generating 50% of GE's earnings. When

19:40

the great financial crisis hit, it began to

19:42

implode and nearly took all

19:44

of GE with it before being bailed

19:46

out, along with the too-big-to-fail banks, William D.

19:49

Cohen. Right then is when

19:51

things really began to change. Under

19:53

CEO Jeff Immelt, GE sold

19:56

off NBCUniversal to help pay for

19:58

the fallout of the Great Recession and return to the world. its

20:00

industrial roots, GE Capital

20:02

was spun off. GE's different industrial

20:04

tentacles were chafing at being tied

20:06

to one another. Again, Ted Mann.

20:09

There was a realization that the only

20:11

way for these companies to thrive and

20:13

survive was to separate it all. It

20:16

took two more CEOs to accomplish that.

20:18

By 2021, General Electric's headcount in the

20:20

U.S. had fallen by almost 75

20:23

percent from its peak. And finally,

20:25

in April of this year, GE

20:27

split apart into a wind power

20:29

company, a healthcare company, and an

20:31

aerospace company. It is no longer

20:33

the great, ubiquitous conglomerate whose products

20:35

touched both Earth and Moon. It

20:38

was this incredible industrial company and built truly

20:40

incredible things. And so it does feel like

20:42

we're never going to see a

20:44

company that looks like that again. It's

20:46

a reminder that even the greatest of

20:48

companies don't have fate on their side

20:51

forever. In New York, I'm Sabri

20:53

Venasur for Marketplace. I

21:12

grew up in rural Minnesota, and one

21:14

of my core childhood memories

21:16

is Schwann's. Schwann's has

21:18

been around since the 50s, and it's

21:21

an iconic brand in the Midwest. Its

21:23

yellow trucks are like freezers on wheels,

21:25

going door to door, delivering ice cream

21:27

and chicken strips. I always

21:29

begged my parents for the orange Flintstones push-ups.

21:31

If you know, you know. Well,

21:34

a lot has happened in the grocery

21:36

industry since Schwann's heyday, like Instacart and

21:39

Amazon. So in 2018, the

21:41

Schwann's family sold most of its business

21:43

to a South Korean food company,

21:45

which renamed the brand Yellow. Harvest

21:48

Public Media's Elizabeth Rembert has more

21:50

on the company's transition. Since

21:53

1965, Mary Bartles has been

21:55

looking forward to her Schwann's deliveries.

21:57

She remembers her nine kids. to

22:00

see the delivery man drive his yellow

22:02

truck down the driveway. They would

22:04

get on the truck and climb all over

22:06

it, and they'd all come in with an

22:08

ice cream bar or something, and now I

22:10

realize he was giving those to those kids

22:12

out of his package, because I wasn't paying

22:15

for them. One of those kids

22:17

actually happens to be my stepdad, which is how

22:19

I know that nearly 60 years later, Mary

22:22

is still ordering ice cream, frozen

22:24

food, and meals from Schwann's. And

22:27

on this Thursday morning in Vermilion, South

22:29

Dakota, it's time for another delivery.

22:31

This is one that's the manager. Come in!

22:34

Hi, Mary. Hello! How are you?

22:36

Nate O'Grady lets himself in and takes

22:39

a seat at Mary's kitchen table. He's our

22:41

delivery man now. We have time

22:43

to sit and talk and socialize with people. He

22:45

says his favorite part of the job is getting

22:48

to know the customers along his route. You

22:50

get to know the customers well enough. You know exactly what

22:52

they want when you come to the door. You know exactly

22:54

what they're going to order. Mary's going to get her peanut

22:57

butter cups. I know that. Oh,

22:59

yeah, that's the best thing they have. Mary

23:03

says it's the great service that's kept her buying

23:05

from Schwann's for nearly 60 years. She

23:08

doesn't even have to get out of her recliner as

23:10

O'Grady checks her freezer for what she needs, grabs

23:12

the order from his truck, and

23:15

packs it onto the freezer shelf. When

23:18

the Schwann's family sold most of their business, they

23:20

kept the delivery service but changed its name to

23:22

Yellow, spelled Y-E-L-L-O-H.

23:24

Some customers, including Mary,

23:26

didn't take much notice.

23:30

When did they do the hat? The new

23:32

name is inspired by the unmistakable trucks,

23:34

according to Bernardo Santana, the company's CEO.

23:37

That's one of the reasons we kept

23:39

the name as Yellow because of the

23:41

famous and recognizable Yellow truck to bring

23:44

back and to keep this connection with

23:46

our customers. The makeover comes as

23:48

Yellow contends with a much different market than when

23:50

the company started in 1952. Its

23:53

main competitors used to be local, family-owned shops.

23:56

Now, online giants like Walmart, Costco, and Amazon are

23:59

now selling their products. on are coming for

24:01

its customers. Yellow is

24:03

still delivering its own Yellow branded

24:05

proprietary products. About a year

24:07

and a half after announcing its new name,

24:09

Yellow made another change. It cut

24:11

750 employees and closed 90 delivery centers. Santana

24:16

says it's to keep up with new

24:18

technology and a more competitive online grocery

24:20

environment. 20 years ago,

24:22

there was no Amazon. We are trying to

24:24

compete with all of those service providers. The

24:27

new brand and cuts are part of

24:30

an overall strategy to modernize Yellow's delivery

24:32

service, says Okshe Rao, who teaches marketing

24:34

at the University of Minnesota. The

24:37

whole branding, cost cutting through the

24:39

reduction in their workforce and so

24:41

forth is part of a strategic

24:44

shift, which is emphasizing

24:46

costs rather than

24:49

customers. Yellow's CEO

24:51

Santana says customers are still the priority, but

24:53

the cuts do leave some in the dust.

24:55

The Yellow trucks used to make deliveries in

24:57

all 48 lower states. Now

25:00

it's just 18. Customers elsewhere

25:02

can get orders via UPS. It's

25:05

a loss for Deb Kua-Moto. She's in

25:07

Lincoln, Nebraska and won't receive deliveries anymore.

25:09

It's really kind of ironic

25:11

because here, Schwann's, they were

25:13

kind of like the first

25:16

grocery delivery and now everybody

25:19

else is kind of caught up to them.

25:21

Ordering from Schwann's and seeing the Yellow trucks

25:24

felt like stepping back into her childhood. I

25:26

think it's the end of an era because I

25:28

do miss the drivers. I really do. She

25:31

says she'll go to the grocery store instead

25:33

of ordering via UPS, even if the ice

25:35

cream there isn't as good as Yellow's. In

25:38

Lincoln, Nebraska, I'm Linda V This

25:51

final note on the way out today, generative

25:53

AI is certainly going to be transformative, but

25:55

it looks like for now, a lot of

25:57

people are just using it because they're tired.

26:01

Saw this in Wired, a new report

26:03

by Microsoft and LinkedIn says 75% of

26:05

people who have

26:07

desk jobs are using AI at

26:09

work. The company surveyed more than 30,000

26:12

people in more than

26:14

30 countries. Nearly 70% of

26:16

respondents say they struggle with the pace and

26:18

volume of work. And many of

26:20

them say they use AI to dig their way

26:22

out of emails, web chats, and meetings. Our

26:26

media production team includes Brian Allison,

26:28

Jake Cherry, Justin Dupri, Christian Dullert,

26:30

Drew Jostad, Gary O'Keefe, Charlton Thorpe,

26:33

Juan Carlos Tirado, and Becca Weinman.

26:35

Jeff Peters is the manager of

26:37

media production, and I'm Kristen Schwab.

26:39

We'll be back tomorrow. Hey

26:56

everyone, it's Rima Harais, host of This

26:58

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