Chris Arnold

Saving For Retirement? Here's A Tip

Chris Arnold — Sat, 01 Sep 2012 10:12:00 +0000

Anyone with a 401(k) retirement plan has been painfully aware of the gyrations in the stock market in recent years. The market has come back up lately, but the economy is still in low gear, so many analysts aren't too bullish in the short term. Also, treasuries and CDs are offering tiny returns.

So what's the average American trying to save for retirement to do? Answers are percolating at an annual economics retreat in Maine.

Every year in August, some of the nation's top economists, money managers and some Federal Reserve officials gather in the woods up near the Canadian border.

Fishing For Lobsters Not Just A Man's Game

Chris Arnold — Sun, 19 Aug 2012 10:21:00 +0000

In New England, more women are breaking through the glass gangway. That's the ramp you use to walk down onto a dock to hop onboard your own fishing boat. For generations lobstermen in Maine have been predominantly, well, men — but that's starting to change.

At a small gas dock in a rock-lined cove on Deer Isle, Maine, there's a new captain fueling up. Genevieve Kurilec, 29, wears a tank-top, orange fishing overalls and lobster buoy earrings.

Kurilec's vessel, Hello Darling, is a small lobster boat. It has a standup center console with a steering wheel — no roof or cabin for shade.

New Terms Set For Frannie And Freddie

Chris Arnold — Fri, 17 Aug 2012 20:12:00 +0000

Transcript

MELISSA BLOCK, HOST:

The Treasury Department today changed the terms of its bailout agreement with Fannie Mae and Freddie Mac. As NPR's Chris Arnold reports, those terms were proving hopeless for the companies to keep up with.

CHRIS ARNOLD, BYLINE: After the housing market collapsed, mortgage giants Fannie Mae and Freddie Mac were bailed out with more than $150 billion in taxpayer money. But the companies have had to pay a punishing 10 percent interest rate on all that money.

Persuading Banks To Give Homeowners A Break

Chris Arnold — Thu, 16 Aug 2012 07:28:00 +0000

Over the past four years, Bruce Marks has been on a traveling road show to help people avoid foreclosure. His nonprofit, the Neighborhood Assistance Corporation of America, has held more than 80 events in cities around the country.

Maine Lobstermen Give Farming Sea Scallops A Try

Chris Arnold — Sun, 12 Aug 2012 09:51:00 +0000

If you don't love scallops, you probably just haven't had one that's cooked properly. That is, pan fried with some garlic and butter and herbs. They are very tasty.

In Maine, scientists and fishermen are learning how to farm, instead of catching, these tasty sea critters. That could be good for business and the environment.

Out on the water off Stonington, Maine, Marsden Brewer is motoring his lobster boat through the crowded fishing harbor. Today, just about all the boats here are lobster boats. But 30 years ago, he says, it was a different story.

"You see all the boats and stuff?

Economists Cautiously Applaud Jobs Report

Chris Arnold — Sat, 04 Aug 2012 11:32:00 +0000

Transcript

SUSAN STAMBERG, HOST:

This is WEEKEND EDITION from NPR News. I'm Susan Stamberg in for Scott Simon. In an encouraging sign for the U.S. economy, the Labor Department told us yesterday that the country gained 163,000 jobs in July. That was better than expected but not all signs are pointing up. In a separate government survey, the unemployment rate increased slightly to 8.3 percent. NPR's Chris Arnold is at a gathering of economists in northern Maine.

Fannie, Freddie Regulator Holds Firm Against Mortgage Write-Downs

Chris Arnold and Avie Schneider — Tue, 31 Jul 2012 21:20:00 +0000

A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.

Tuesday's decision came from Edward DeMarco, the acting director of the Federal Housing Finance Agency.

NPR and ProPublica reported earlier this year that Fannie and Freddie had each determined that reducing principal for struggling borrowers would save money by preventing foreclosures.

Morale Takes A Hit At Beleaguered Fannie, Freddie

Chris Arnold — Wed, 27 Jun 2012 07:00:00 +0000

The collapse of the housing market has led to plenty of finger-pointing in Washington. Two easy targets are Fannie Mae and Freddie Mac.

These government-backed mortgage giants had to be rescued by taxpayers and now owe the government $188 billion.

Housing Recovery Seen; Will Credit Be The Spoiler?

Chris Arnold — Thu, 14 Jun 2012 08:30:00 +0000

Amid all the economic uncertainty over the credit crisis in Europe and slow job growth in the U.S., one sector may be looking up. The U.S.

As Economic Headwinds Pick Up, Employers Lay Low

Chris Arnold — Fri, 08 Jun 2012 21:09:00 +0000

After adding a robust 275,000 new jobs back in January, job growth appears to be slowing. The Labor Department reports that the economy added only 69,000 jobs in May.

Meanwhile, despite the worst recession in generations, there are still countless small business owners plugging away around the country, seeking to expand and hire more employees.

"This year we hired two more technicians, and we hope to hire one more," says Srinivas Konanki, who employs 20 people at Pipette Calibration Services, a laboratory equipment company he owns with his wife.

The Konankis operate just outside Boston.