Much of the way influential consulting firm McKinsey & Co. operates is shrouded in secrecy. But recent reporting by the New York Times has revealed some of the company’s secrets, including its involvement with controversial companies like Purdue Pharma, the maker of OxyContin, as well as foreign leaders and governments in Saudi Arabia and South Africa. Additional stories have focused on the firm’s hedge fund MIO and alleged failures to make required financial disclosures.
McKinsey has defended its work around the world. In a statement, the firm told the Times that “since 1926, McKinsey has sought to make a positive difference to the businesses and communities in which our people live and work.” 
This week on Money Talking, Charlie Herman talks with New York Times investigative editor Walt Bogdanich and investigative reporter Mike Forsythe about their reporting on the often hidden world of McKinsey and why it matters.

Uncovering The Secrets of the Consulting Firm McKinsey

WNYC’s Money Talking brings you conversations that go beyond the headlines and economic jargon for a look at what’s happening in the business world and in the workplace – and why it matters in your life. WNYC Studios is the producer of other leading podcasts including Freakonomics Radio, Note to Self, Here’s the Thing with Alec Baldwin and many others.

Society & Culture

Personal Journals

History

Philosophy

Places & Travel

Education

Training

Language Courses

Higher Education

K-12

Educational Technology

Business News

Business

News

The largest fast-food company in the world -- with about 24,000 stores -- was once known for its rapid expansion mindset. Now, Subway is closing stores faster than ever and pushing out franchise owners in the process.
In a recent report by the New York Times, franchisees across the country said that seemingly tiny violations, like cucumbers cut too thick and smudges on glass doors, have cost them their businesses. And when they try appeal to Subway's corporate leadership? They rarely get a response.  
This week on Money Talking, guest host Ilya Marritz talks to Tiffany Hsu, a business reporter at the New York Times who co-reported the piece, about how Subway's efforts to scale back have impacted franchisees.

Subway’s franchisees allege corporate mismanagement

Next week marks fifty years since Neil Armstrong took “one small step” on the moon’s surface. The Apollo 11 mission was an historic voyage, fulfilling President John F. Kennedy’s goal of reaching the moon by the end of the 1960s. More than half a billion people watched the astronauts live on television. But in the years that followed, America’s interest and commitment to space exploration largely disappeared. 
Yet the country’s ambitions in space are far from over. In March of this year, Vice President Mike Pence expressed a renewed sense of urgency. 
“Make no mistake about it — we're in a space race today, just as we were in the 1960s, and the stakes are even higher,” he told attendees at a meeting of the National Space Council in Alabama.
At the same meeting, Pence presented a new timeline for landing humans on the moon again: Within the next five years, four years sooner than the administration's initial timeline of 2028, leaving some to wonder if a new space race could be on the horizon.  
This week on Money Talking, Charlie Herman talks to Tim Fernholz, a reporter at Quartz covering space and author of Rocket Billionaires: Elon Musk, Jeff Bezos and the New Psace Race, about the latest chapter of space exploration.

Is a New Space Race on the Horizon?

This weekend marks the 50th anniversary of the Stonewall Riots and the birth of the modern gay rights movement in this country. Over the intervening years as attitudes towards LGBTQ people have changed, corporate America has taken note. Whether it's McDonald's selling special-edition “Pride Fries” or Walmart’s (online) Pride Shop, companies have very publicly been displaying support for the community over the last few years. 
It’s a dramatic shift from the days of Anita Bryant and Florida orange juice or companies like Wendy’s pulling their advertisements after Ellen came out on her sitcom. The greater acceptance of the LGBTQ community has presented an opportunity for businesses. While some take issue with companies commercializing this weekend's pride events, it’s hard to ignore how much mainstream businesses have embraced LGBTQ culture and consumers. 
This week on Money Talking, Charlie Herman talks to Jim Ellis, assistant managing editor at Bloomberg Businessweek, about the business of pride past, present, and future.

From Wall Street to Walmart, Businesses Embrace Pride

How a little known group of business leaders is influencing the administration's policies on trade, business and the economy.

Business Leaders Find A Friend in Trump

Since its opening in 1907, the story of the hotel has been the story of New York: a history littered with colorful guests, financial uncertainty, and a controversial transformation.

Uncovering The Secrets of the Consulting Firm McKinsey

Download our free app to listen on your phone