Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

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Some of the country's biggest retailers have unveiled an initiative they say will improve conditions for workers on the other side of the world. The move by Wal-Mart, Target, and others is intended to boost safety in Bangladesh garment factories.

NPR's Jim Zarroli reports the plan is a response to the devastating building collapse that killed more than 1,100 people in April.

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On Wall Street, many things are bought and sold, including, occasionally, interest rates. That happened today. The owner of the New York Stock Exchange bought LIBOR, a hugely influential benchmark rate that is set in London. LIBOR is used to set many other interest rates, from credit cards to derivatives contracts.

Over the next few weeks, thousands of U.S. based publicly traded corporations will be reporting their quarterly results. Within days though, judgments will start to be made on whether the economy is holding up well enough to justify stock prices that are approaching a new peak. Alcoa says it lost more money than expected during the second quarter of this year because of restructuring costs.

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The Obama administration's decision to delay implementation of a key part of the Affordable Care Act is winning praise from business groups today. The administration has announced it will wait another year before penalizing large employers who fail to offer health care coverage to their workers. The delay gives retail and restaurant companies that had opposed the mandate more time to prepare for the law.

NPR's Jim Zarroli reports.

Alabama's bankrupt Jefferson County has filed a 101-page plan that would force creditors to lose up to 70 cents on the dollar.

In 2011, the county underwent what's been called the largest government bankruptcy in U.S. history. It's in debt by about $4.2 billion.

Because of combination of corruption and poor management, the municipality was unable to repay money it borrowed to upgrade its sewage system.

Federal regulators have filed civil charges against former New Jersey Governor Jon Corzine in connection with the failure of his commodities firm, MF Global. The government says Corzine failed to stop the firm from dipping into customer funds during a financial crisis in October 2011.

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He was a governor, a senator and a Wall Street success story. Now, Jon Corzine faces federal civil charges. Regulators filed them today in connection with the collapse of Corzine's commodities firm, MF Global. The government says he failed to stop the firm from misusing customer funds during the financial crisis in October 2011.

NPR's Jim Zarroli tells us more.

The world's wealthiest nations are promising to fight what they call the scourge of tax evasion. This week's meeting of the Group of Eight industrialized countries concluded with a pledge to end the use of tax shelters by multinational corporations.

But there are still big questions about how they will make a dent in the problem.

In the aftermath of the global recession, countries all over the world have struggled with budget shortfalls. More and more of them have come to blame part of their revenue problems on one culprit — tax avoidance.

The Supreme Court sided with government regulators in an important case involving the pharmaceutical industry and patent law. At issue were contracts between "brand-name" pharmaceutical companies and "generic" producers in which the brand-name company paid the generic not to compete. The court said the Federal Trade Commission could challenge such contracts.

Companies like Google and Facebook are very much caught in the middle of the current debate about national security and privacy. Press reports have said the companies are required to turn over huge amounts of customer data to government agencies like the National Security Agency, but the companies are often barred from saying anything publicly about the requests they receive.

In recent decades, a quiet revolution has been transforming the way Washington works.

Because the U.S. government does not have the workforce to complete all of its tasks, it employs private companies like Booz Allen Hamilton to do the work for it. Booz Allen is the company where Edward Snowden, who said he leaked secrets about the National Security Agency, most recently worked.

Over the past 25 years, this contract workforce has grown and plays a major role in the U.S. government, says Paul Light, a professor of public service at New York University.

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Earlier this week, the International Monetary Fund came out with a scathing report about the way the Greek debt crisis was handled. It says European officials took too long to restructure Greece's debt because they were too concerned about protecting investors. Today, as NPR's Jim Zarroli reports, European officials hit back.

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The federal probe of a hugely successful hedge fund may have investors ready to pull out much of their money. SAC Capital is under investigation for insider trading. Several published reports indicate outside investors are worried about that investigation and whether it will touch Steven Cohen, the firm's founder.

NPR's Jim Zarroli reports.

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And Apple faces off with the Justice Department beginning today in a federal court over a price-fixing dispute. Last year, the government accused Apple of conspiring with five major publishing companies to raise prices on electronic books.

NPR's Jim Zarroli reports.

About 2,200 passengers were being flown back to Baltimore on Tuesday, a day after their cruise ship caught fire on its way to the Bahamas. There were no injuries aboard Royal Caribbean's Grandeur of the Seas.

But in the wake of the incident and others like it, the cruise ship companies have something of a black eye. The industry is now trying to reassure passengers it's OK for them to sail, adopting what it called a passenger "bill of rights."

When Hurricane Sandy swept through New Jersey last year, it destroyed many homes and businesses. It also obliterated the boardwalks that are the center of social and economic life in the towns.

In the months since, many of these towns have rushed to rebuild their boardwalks, but not everyone thinks the money has been well spent.

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Jamie Dimon, the chairman and CEO of JP Morgan Chase, has beaten back the most significant challenge to his leadership since he took charge. Company shareholders turned down a proposal that would have taken away one of his titles.

But as NPR's Jim Zarroli reports, shareholders made clear they are unhappy about the performance of some board members.

Following a factory collapse in Bangladesh that killed more than 1,000 people, Wal-Mart has declined to join a multi-company factory safety accord to try to prevent future disasters. Instead, the world's largest retailer announced its own set of inspection and safety measures.

Giant financial data company Bloomberg is acknowledging that some of its subscribers were tracked by the company's reporters. The reporters were allowed to see what kind of information the subscribers were looking at and how long it had been since they logged on. The tracking came to light after Goldman Sachs Raised questions about the practice. Over the weekend, the Federal Reserve said it is looking into whether its employees were tracked as well.

Eight people died Wednesday in a fire at a Bangladeshi sweater factory. This follows the much deadlier collapse of the Rana Plaza building, where more than 900 people died.

The deaths are taking place in a garment sector that has seen explosive growth over the past three decades. The country has managed to lure clothing-makers through a combination of low wages and light regulation.

As a manufacturing center, Bangladesh has little to recommend it. The roads are poor. There's no port to speak of. The electricity is notoriously unreliable. It's politically unstable.

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Now it's a rare thing for Americans to get a glimpse of Ben Franklin's face on a hundred dollar bill. Even if they have a hundred bucks most people do not carry a hundred dollar bill in their wallets. Many stores don't even accept bills that large because they fear counterfeits. So here's a surprise contained in a recent report from the Federal Reserve: Three-quarters of all American currency in circulation is in the form of hundreds.

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OK. From understanding language, let's try to understand one development in the economy. Corporate revenues have been lackluster. But despite that, stock prices keep going up. This might have something to do with what the Federal Reserve has been up to. Hoping to get money into the economy and stimulate growth, the Fed has been aggressively buying bonds. And Fed officials said, after their two-day meeting ended yesterday, that they could even accelerate the bond purchases if necessary.

Here's NPR's Jim Zarroli.

New York City is notoriously crowded, and it's only getting more so. The city estimates it will have 1 million more people by the year 2030, many of them single. Where to place all these newcomers is a major challenge.

Mayor Mike Bloomberg has announced plans to put up an experimental building of micro-apartments that could be replicated throughout the city. And the Museum of the City of New York is looking at ways to make better use of the city's housing stock.

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DAVID GREENE, BYLINE: Hackers got into the Associated Press's Twitter account yesterday and sent out a fake tweet saying that the White House had been attacked. Though the tweet was discredited very quickly, it created a swift and panicked reaction on the stock market.

Here's NPR's Jim Zarroli.

JIM ZARROLI, BYLINE: The tweet said that a pair of bombs had gone off in the White House and President Obama was injured. Almost instantaneously, the Dow Jones Industrial Average fell 125 points.

The grisly week that began at the Boston Marathon Monday left one police officer dead.

As police closed in on the bombing suspects Thursday night, law enforcement officials say two officers were shot. One, transit police officer Richard Donohue, is in critical condition at Mount Auburn Hospital.

The other, Sean Collier of the MIT campus police, was pronounced dead Thursday night.

MIT says Collier had gone to respond to a report of an altercation on campus Thursday evening. Soon, word came over the police radio that he had been shot.

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President Obama's nominee to head the Labor Department, Thomas Perez, appeared before a Senate committee today where he tried to portray himself as a bipartisan problem-solver who could listen to all sides. While the tone of the hearing was friendly, Perez faced some skeptical questions about a housing discrimination case he was involved with at the Justice Department.

NPR's Jim Zarroli has the story.

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Two prominent Harvard economists have admitted there are errors in an influential paper they wrote on government debt. This paper was widely cited in recent budget debates. But the economists insist their mistakes do not significantly change their research.

NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: In their 2010 paper, Ken Rogoff and Carmen Rinehart argued that economic growth falls significantly when a country's debt level rises above 90 percent of its Gross Domestic Product or GDP.

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And let's stay on the topic of billionaires.

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Sure.

GREENE: Bloomberg News is reporting that billionaire investor John Paulson has lost more than $300 million as a result of the slide in gold prices. After climbing for years, gold has recently lost considerable ground. And it's widely expected to fall even further this week.

Here's NPR's Jim Zarroli.

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This is MORNING EDITION, from NPR News. Good morning. Steve Inskeep is in Venezuela, reporting this week on that country's presidential election, and he'll be on the program tomorrow. I'm David Greene.

Almost 5 million Americans are considered long-term unemployed, meaning they have been searching for work for at least six months.

This week, their plight is getting a bit tougher as the government cuts their unemployment benefits — part of the automatic reductions in federal spending that took effect recently.

On a recent day, about 40 people turned out at a Manhattan jobs center run by the New York Labor Department to get advice on looking for work. These are all people who have been out of work for at least 27 weeks.

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