Business Report: Amazon Abandons NYC Plan
KPBS anchor Ebone Monet and SDSU marketing lecturer Miro Copic discuss some of the week’s top business stories.
This week’s topics:
Amazon cancels NYC expansion amid pushback
After a nationwide search, Amazon decided last year to build new headquarters in Virginia and New York. But in recent weeks, a mix of politicians, unions and residents pushed back on the idea of allowing Amazon to move in with the help of billions of dollars in tax benefits. Amazon has not said if it will take the project elsewhere.
Target considers UC San Diego for campus store
The San Diego Union-Tribune reported this week that Target is considering UC San Diego as a location for a new store. The new space would be smaller than most Target stores and be part of a larger effort by the university to develop more of a residential campus life. Target tells KPBS that a final decision has not been announced.
Record number of Americans late on car payments
The Federal Reserve Bank of New York reports seven million Americans are three months behind on their car payments. That number is about one million more than the industry saw in 2010 during the peak of the economic recession. The news is an indicator that despite low unemployment, many Americans are struggling to pay basic expenses.