Money Talking

Dorie Clark is an author, a marketing strategy consultant, and a business professor at Duke University's Fuqua School of Business. People listen to her. But when she entered the workforce at the age of 20 after completing a B.A. and graduate degree, she found it challenging at times for her ideas to be heard, especially with colleagues who had many more years of experience. Understanding what it’s like to be pushed aside even when you know what you’re talking about, she came up with ways to get people to listen which she outlined in an article for the Harvard Business Review: "Get People to Listen to You When You're Not Seen as an Expert." "If you look different than other people in the workplace," she said, "maybe you’re the one woman in a tech company or something like that, people’s biases may be toward not taking you quite as seriously as other people, and so if you want to be heard, period, you may need to exert some strategy." 1. Create an echo chamber: If you're facing one roadblock to being heard from your boss, try befriending other people in the office who your boss respects. They can vouch for you in meetings and show your boss you should be taken seriously. In politics, they call it "powermapping." 2. Begin to position yourself as an expert. Start creating content around the subject you want to master. Blog about it. If you're learning, take readers along on your journey on the topic. 3. Borrow from the experts. Research and read widely and cite the experts you're learning from.  4. Find common ground. When you're trying to convince your coworkers to take you seriously, try to bond with them as best you can. People are more likely to root for you if they feel like they're on your team. Dorie said there's no substitute for doing real work to educate yourself – her advice is for informed people with good ideas. "These strategies can be used for good or ill," she said, but in the Internet age, you have to know what you are talking about. If you're a phony, someone will probably find out.  

Some things have an uncanny ability to take us back to simpler times: record players, typewriters, certain fine pastries, perhaps. While Proust had his madeleine, all of France has U.S. credit cards. That’s because France, and pretty much the rest of the world’s major economies, has been ahead of U.S. payment technology for decades. This month, we are finally starting to give up our vintage credit cards with only the black, magnetic stripe on the back — the equivalent of a cassette or an 8-track tape — and switching to the “chip card." You may have gotten one in the mail already: they’re the new credit cards with a shiny computer chip on the front. Also known as "EMV" — short for Europay, Mastercard and Visa, the three companies that created a standard for the chip in the early 90s — the chip card virtually eliminates the possibility of counterfeit card fraud. That's where crooks make a copy of your card, and it’s a kind of fraud that's been consistently growing in one place: the United States.  Listen to Money Talking producer Julia Longoria as she went to find out what's taken us so long to get on board.  

Beer giant AB InBev wants to acquire its rival SABMiller. It's one of many billion dollar deals this year. At this rate, we'll set an all-time record in 2015. Is that good?

Job interviews can make for some of the most awkward interactions humanly possible. "It’s such a false scenario, right? Interviewing’s weird," said Patty McCord, former Chief Talent Officer at Netflix and contributor to the Harvard Business Review. "But you want to get the chance to have an authentic conversation with somebody." If hiring managers don't know what they're doing, the process can be especially painful for applicants, and in the end, disastrous for companies. And McCord says, most large organizations don't do it well. "Their objective is to put butts in seats instead of build teams," she said. During the 14 years McCord worked at Netflix, it developed a reputation for its treatment of employees and its ability to identify talent. It's famous for the 127-slide "Netflix Culture" presentation. Now, McCord consults with companies about the best way to identify and maintain great teams. The key, she says, is to treat the process less like a science and more like an art. "It's a little like painting," she says. "The finished result is because it’s all in the prep." McCord says there are some basic steps to bring discipline and professionalism to the the hiring process: Cast a wide net, and reel some in. First, she says, if you're a hiring manager, you should gather a large pool of applicants by using social networking tools like LinkedIn. The best applicants may not always come to you; like a journalist seeking interviewees, you might need to go to them. Work backwards. When you begin the hiring process, she says, think first about the problem that needs to be solved rather than the kind of person you want to bring in.  Pick a star interview team. At least three different kinds of people in your company should be on the hiring committee: one to probe applicants for technical skills, one to discern problem-solving ability, and one who has a reputation for sniffing out good candidates. Do your homework. Read up on your applicants, and make sure you tell them who will be on the interview committee, to give them a chance to do their own homework. You'll have more to talk about if you've built some common ground beforehand. Don't prepare a laundry list of questions. Too often, we focus on the clever interview question instead of trying to have a genuine conversation. The goal isn't to stump the interviewee; it's to make them comfortable enough so they'll show their true colors. Let the conversation drift, while being sure to focus on skills and experience instead of pleasantries like beer preferences.  McCord says in Silicon Valley, questions looking for a "good fit" about pleasantries like favorite movies or favorite bars lead hiring managers to look for people "just like me." Instead, Patty says the goal is to find questions that will make applicants stop and think — and go from there. For instance, instead of asking what their career goals are, ask "What do you not want to do anymore?"  Listen to host Charlie Herman probe McCord for her strategies for interviewing and suggestions for the ways companies in Silicon Valley might make their hiring practices more inclusive.

Should the world of U.S. college sports operate like the free market? Some players say yes. The NCAA policy of preserving "amateurism" means players aren't paid like professional players are. They're students first. That policy has let the NCAA limit how student athletes are compensated, usually for expenses like the cost of attendance. The association argues that paying college athletes would create heated competition among universities for top players and distract them from their primary goal: getting an education. But some players say they work the equivalent of full-time jobs for the NCAA, and they want to be able to unionize and fight for better wages and better treatment. This legal battle is ongoing. Last week, a court handed a somewhat mixed victory to the NCAA. The U.S. Court of Appeals for the Ninth Circuit ruled that the way the NCAA limits athletes' pay to the cost of tuition is appropriate. Still, the court did insist the N.C.A.A. is not above antitrust law, thereby uphold a ruling from last year which scolded the NCAA for conspiring with schools to keep players from getting revenues from TV contracts. Money Talking host Charlie Herman looks into the ongoing legal battle and the grey area where players find themselves with guests Joe Nocera from the New York Times and Allison Schrager from Quartz.  

Which comes first: the gentrification or the Whole Foods?  The high-end grocery chain has a reputation for slipping into developing neighborhoods just before the surrounding property values skyrocket. That's made them an important symbol for some struggling neighborhoods: when Whole Foods arrives, it's a sign those places have made it. Others say when the pricey chain touches down on their block, it's a harbinger of harmful gentrification and a rising cost of living. But it seems Whole Foods has been having a rough year. The company has had pricing scandals, falling stock prices and this week it announced it's firing 1500 employees in order to lower prices. It's also announced a new spin-off chain, "365 by Whole Foods Market," aimed at a younger, more budget-conscious customer. Some Los Angeles residents near the site of the first 365 location say they want the "real thing" instead. Hear guest host Ilya Marritz talk grocery-store strategy with guests Heather Landy from Quartz and Helaine Olen from Slate.  And later in the show, Landy and Olen, who's the author of Pound Foolish: Exposing the Dark Side of the Personal Finance Industry, weigh in on Sen. Elizabeth Warren's attack on the financial industry this week. Warren, who's made a name for herself as the conscience of the financial industry, says corporations are secretly influencing Congress by paying experts who testify. This week, an expert with the Brookings Institution stepped down after Warren pointed out that a paper he submitted to the Senate was funded by the mutual fund manager The Capital Group.   

Amy Gallo of the Harvard Business Review gets it: writing your resume is the worst. It's painstaking to reduce yourself to bullet points and then to get the formatting just right. And then when you're done, hitting "Send" on a cold job application often feels totally futile. In an age when resumes are easily uploaded online, the hunt for jobs seems more competitive — and discouraging — than ever. But Gallo says you need to pay attention to the way new technology changes the resume game. As she explains in her article for the Harvard Business Review, in an age when employers are often reading your resumes in PDF on a screen, the rules are different. Gallo says there's one old rule you can definitely drop in the digital age: The One-Pager: You may have heard that you need to limit your resume to one page. Gallo says if a hiring manager is viewing your resume digitally, the convenience of a one-page resume doesn't really apply anymore. Stop making your fonts microscopic so you can fit all your experience onto one page.  But Gallo says there's some conventional wisdom that's timeless: The professional summary: The 20-word summary at the top of your resume might be the most painful sentence you'll ever write, and it's often the most cringe-worthy for hiring managers, but Gallo says you have to include one if you want to grab a hiring manager's attention. The trick is, there's a right way to do it. Don't prop yourself up with fluffy platitudes. Give something that's "clear, flatfooted, and answers the question of, 'Is this the right person for this job?'" Gall said. For instance: "Healthcare executive with over 25 years of experience providing superior patient care" is not cheesy; it's honest and impressive. Tailor the resume and summary to the job: You can't expect to send the same resume with every application. Plan to spend a significant chunk of time thinking about the job description and tailoring the descriptions of your achievements to what the job you're applying for requires. At its core, a resume should be more than a list of your responsibilities. "A resume is really a marketing document," said Gallo, "I think people, unfortunately, often think of it as a record of their work life — which it's not. You have to think of the hiring manager as the consumer, as your customer, and you're trying to sell yourself." For more insights, listen to Gallo tear apart Money Talking host Charlie Herman's resume. (And he thought he had a good one.) *Special thanks to Rebecca Ungarino for production help.

It’s been a quite a week for corporations sparking outrage among consumers A scandal at Volkswagen over how the automaker rigged emissions inspections in the U.S. cost the CEO his job. And accusations of price-gouging after a drug company raised the price of a 62-year-old drug by more than 5,000 percent led the CEO to announce he’d lower the price, but he didn't say by how much. This week on Money Talking, Rana Foroohar with Time Magazine and Ben White with Politico review what could be the consequences of these scandals. And then, Pope Francis visits the U.S., meets the President, addresses Congress, and then gives a mass at Madison Square Garden. What does he hope to accomplish during his trip?

Author Gerald Posner has been investigating the Vatican Bank for years and says every time we get a new pope, we hear more or less the same story: claims of wanting to reform the church's finances. But Pope Francis, Posner says, is for real. In advance of the pontiff's trip to New York City, Money Talking host Charlie Herman talks with Posner about his book God's Bankers: A History of Money and Power at the Vatican, and how Francis is trying to reform the institution that has operated like an "offshore bank in the heart of Rome."  And then, considering that New York City is a center of wealth and power, how will this pope balance the need to raise from money wealthy New Yorkers with his mission to make a church that is "poor and for the poor."  

It's the age of the fickle worker. Business psychology professor Tomas Chamorro-Premuzic said technological innovations make us extremely aware of all the options out there — both in dating and in the job market. For example, he explained that about 70 percent of LinkedIn users are considered "passive job seekers" — checking out other jobs — even when they're not on an active search. This, Chamorro said, may be hurting our psyches. "There's a known psychological rule that states that the more choice we have, the harder it is to choose and the less happy we are with the outcome," said Chamorro, a professor at University College London and the CEO of Hogan Assessments. So the key is to cut through the noise your inner voice makes about how dissatisfied you are and figure out if it is truly time to leave. In an article he wrote for the Harvard Business Review, "5 Signs It's Time For A New Job," Chamorro described the triggers he says indicate it's time to leave. You're not learning. If you've learned all there is in your current role, that could mean it's time to find something more stimulating. You're under-performing. Good performance can be its own motivator. But if you suddenly find you're no longer doing a great job like you used to — and, in turn, you're not getting positive feedback — it might be time to find a new challenge that makes you want to work hard. You feel undervalued. It's subjective, but the feelings are what matter here: If you feel you're undervalued by management, it may be time to leave. You could do be doing the same work in a place where you are valued, and that would be much more rewarding. You're doing it for the money. If you feel like money is the only reason you get up in the morning, it might mean it's time to find something that makes you care a little more. You hate your boss. If you can't stand your boss even after you try to make it work, it might be time to look for another one.  Chamorro tempered these triggers with one caveat: "This isn't an area where impulsive decisions are likely to pay off, so it's more sensible to wait, to think," he said. But if you keep feeling the symptoms described above even after you try to fix your situation, it can't hurt to start looking around. And just like you'd do with dating apps like Tinder, if you're already taken, or in this case, employed, you might want to keep your search on the down-low.

For years since the financial crisis, one question has loomed large in the minds of investors, analysts, economists and politicians: When will the Federal Reserve raise interest rates? The suspense may not keep everyone up at night, but a rise in the federal funds rate from nearly zero would be a sign that the economy has recovered since the financial crisis. So for months now, there's been a lot of over-thinking about the comments made by members of the Federal Reserve Board, trying to determine when, oh when, the interest rate will rise. The latest prediction in the economic crystal ball: possibly next Thursday afternoon after a meeting of the Federal Reserve Open Market Committee. Money Talking host Charlie Herman asks Allison Schrager from Quartz and Myles Udland from Business Insider what's at stake and, if the media hubbub is worth your attention.        

It’s being described as a “Golden Age of Television,” but with so many choices and so many ways to watch, it’s also a time of confusion. Hulu. Netflix. Amazon. HBO. Showtime. Not to mention network TV. They are all creating new programming that’s getting people’s attention. And now, there are reports that Apple might be looking to create it’s own, exclusive programming. For viewers, it can be a daunting to figure out which shows to watch, where to find them, and how much it will cost. And that doesn’t even include finding the time to actually watch the shows. This week on Money Talking, Emily Steel with the New York Times and Tim Stenovec with Business Insider review how television as we know it is being upended, who will be the winners and losers, and what it means for consumers. If you’re looking to cut the cord and say good bye to cable, here’s Steel’s guide for figuring out which streaming service to use, and how much it will cost.  

For the horrible listeners in your office, the advice to get them to pay attention is pretty straightforward: 1. Slow down.  2. Stop talking. 3. Listen. But Amy Jen Su, an executive coach with Paravis Partners who has written and talked about the issue for the Harvard Business Review, knows it's not so simple, especially for some particularly stubborn bosses. "I think many of us speak just to hear ourselves think," she said. For one flagrant interrupter she worked with, Su pulled out some preschool training strategies and asked her client to use a "listening stick" at home with his wife: he couldn't speak until his wife handed him the stick. If you can get the awful listeners to listen, the solutions are as simple as slowing down, getting comfortable with silence, and focusing attention on the speaker. But if you find yourself getting physically uncomfortable when you're not hearing the sound of your own voice, she said the first step is to get comfortable with the discomfort.  "Part of listening is listening for the facts," Su said. "Is the person sharing facts that you weren't aware of? Hear the person out." She said as you listen, you need to have your mind open to being changed. And if you don't agree with the speaker, let the speaker know you've listened to what they've said, and then tell them why you disagree. But if you're the one who isn't being heard during a one-on-one with your boss, Su said you need to go over the conversation at the end of your chat, and reiterate your points. If you're in a large meeting where you keep getting interrupted, you can use verbal cues during the meeting like raising your hand gently and saying "Hang on a second, let me just finish my point there," Su said. And most importantly, don't rely on your own opinion to determine if you're a good listener. Go to a trusted colleague. They'll tell you the truth. If you're willing to listen and hear what she has to say.

For many economists and analysts, this week's turbulent stock market isn't surprising. They knew it was coming — and they knew where it would be coming from: China. But for the rest of us, it seemed like China's image changed overnight: from major engine of global economic growth to one of the market's biggest liabilities. When the Dow Jones fell more than a 1,000 points at the start of trading on Monday, it was perhaps the first, most visible indicator that if China stumbles, the global market will feel it. Host Charlie Herman asks Rana Foroohar from Time and Jordan Weissmann from Slate whether the communist nation is up to the task of directing its faltering economy.

When the New York Times described Amazon as a cutthroat workplace with unkind leaders where employees cry at their desks, it apparently came as news to the CEO, Jeff Bezos. He wrote to employees, saying that's not the Amazon he knows, and he asked them to notify him directly if they experienced the harsh management style the Times described. The article has been criticized as loosely sourced and anecdotal, but some of the Times story, like the data-driven management style or the way employees can report on each other directly to higher-ups, is part of the workplace design. And while some see it as a grim place to work, others might call the challenges Amazon poses to its employees as the way of the future. Money Talking host Charlie Herman discusses what makes a good workplace with Patty McCord, the former Chief Talent Officer of Netflix, which has a reputation for being one of the friendliest places to work, and Nikki Waller, management and careers editor at the Wall Street Journal.