Marketplace Morning Report wraps ups its week in Miami with a look at the cruise industry and an interview with Adam Goldstein, president of the cruise line, Royal Caribbean.
Once the pastime of the very wealthy, cruising has become a mainstream vacation, Goldstein tells MMR host Jeremy Hobson, and the U. S. is the biggest "source market" for the cruise industry, even though the growth rate of other source markets is greater.
What does that say about the New American Dream here and elsewhere?
On the last day of its week in Miami, searching for the New American Dream, Marketplace Morning Report visits exclusive Fisher Island, where people pay a million dollars for the slips where they tie up their $40 million yachts.
Host Jeremy Hobson learns that few of Fisher's residents had money "fall from the sky" on them. Most of them worked for it, says a real estate agent who sells homes there, so the dream -- even the Fisher Island dream -- is still within reach.
Is Miami the city of the future? What economic challenges does it face going forward? Jeremy Hobson hosts a roundtable discussion with Paola Iuspa-Abbott, a reporter with the Daily Business Review, Andrea Heuson, a professor of finance at the University of Miami, and Dan Grech, formerly of Marketplace and now the news director at WLRN Miami Herald News.
One of the questions Marketplace asked: What is the biggest economic problem in South Florida right now?
Continuing its search for the New American Dream in Miami, the Marketplace Morning Report goes to one of the city's poorest neighborhoods: Liberty City. Host Jeremy Hobson interviews local residents and takes a driving tour.
In the second segment, Hobson's panel of Miami journalists, including WLRN news director Dan Grech, returns for a discussion of what each panel member considers South Florida's worst economic problem.
In the Marketplace Morning Report's second Wednesday segment, host Jeremy Hobson wonders if home ownership is still part of the American Dream. He speaks with Miami's billionaire condo king, chairman George Perez of the Related Group, and introduces WLRN's Karen Burkett with a story about the challenges that home buying poses to normal-income people competing with investors for the same properties.
Marketplace Morning Report will spend the first week of President Obama's second term broadcasting from Miami and demonstrating what some of the president's inaugural themes mean in real life.
The raw materials for show host Jeremy Hobson and his production team of three are Miami's huge immigrant population, its great wealth and crushing poverty, and the enormous empty space between those economic extremes.