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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Superstorm Sandy: Before, During And Beyond
2:42 pm
Fri November 16, 2012

Seaside After Sandy: Is Rebuilding Worth It?

Ernest Shallo, of Carteret, N.J., throws a ruined air conditioner onto a pile of debris in front of a small home in Seaside Heights, N.J. Residents were allowed back in their homes for a few hours Monday, two weeks after the region was pounded by Superstorm Sandy.
Mel Evans AP

Originally published on Fri November 16, 2012 5:07 pm

Ever since Hurricane Sandy ripped through the New Jersey coast, some of the hardest-hit towns have been closed altogether. Authorities say gas leaks and unstable buildings have made them too risky to visit.

This week, residents were allowed to enter Seaside Heights for a few hours each day to get a firsthand look at the damage. Many are struggling with whether to rebuild their homes.

Weighing The Cost

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Superstorm Sandy: Before, During And Beyond
12:33 am
Tue November 13, 2012

Beach Towns Mourn Sandy-Ravaged Boardwalks

Waves break Oct. 31 in front of a destroyed amusement park wrecked by Hurricane Sandy in Seaside Heights, N.J.
Mario Tama Getty Images

Originally published on Tue November 13, 2012 10:15 am

Hurricane Sandy left a long trail of destruction across the New Jersey shoreline. And it did a lot more than just flood houses.

In towns like Seaside Heights and Belmar, Sandy wiped out the boardwalks that line the beach. In places like these, boardwalks served as the commercial center knitting the towns together, and residents are wondering where to go from here.

Until two weeks ago, the boardwalk was the place to hang out in Belmar, N.J. Ann Summer was walking along the water with her husband this weekend.

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Business
1:46 am
Fri November 9, 2012

Sandy's Effects 'Staggering' To New York's Economy

Originally published on Fri November 9, 2012 9:46 am

Transcript

RENEE MONTAGNE, HOST:

The governor of New York, Andrew Cuomo, also held a press conference yesterday, and gave a warning that Sandy could end up costing his state $33 billion in economic damage, which could worsen the state's already-perilous fiscal situation.

NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: Cuomo said the initial estimates are that the storm will cost the region $50 billion in lost economic activity and infrastructure damage. And he said two-thirds of that will be borne by New York.

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Superstorm Sandy: Before, During And Beyond
5:48 am
Wed November 7, 2012

In Storm-Ravaged N.J. Town, A Scramble At The Polls

Originally published on Wed November 7, 2012 7:31 am

Transcript

RENEE MONTAGNE, HOST:

And it was no ordinary Election Day either in Belmar, New Jersey, one of the beach towns that was badly damaged by Superstorm Sandy. Some of the regular polling places were flooded out and town officials had to come up with new ways to get voters to the polls. NPR's Jim Zarolli reports.

JIM ZAROLLI, BYLINE: These days the Belmar Town Hall has been turned into a kind of rescue center for displaced residents, a place where they can get food and clothing. And yesterday they could vote, too.

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Around the Nation
2:38 pm
Fri November 2, 2012

After The Storm, Staten Islanders Share The Misery

Steve Santo stands in the kitchen of his house on the south side of the New York City borough of Staten Island on Friday.
Mike Segar Reuters/Landov

Originally published on Mon November 5, 2012 10:35 am

Much of the worst damage from Superstorm Sandy happened in New York's less touristy outer boroughs.

Some neighborhoods have been changed forever by the storm. Staten Island saw half of the city's fatalities. On Friday, residents sorted through waterlogged belongings and tried to figure out next steps.

Rosemarie Caruso lives a block from the water on the eastern shore of Staten Island. She says there have been hurricanes before and all they brought was a little flooding. She figured she could ride out Sandy.

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Business
2:06 am
Thu November 1, 2012

The Complicated Economic Impact Of Sandy

Originally published on Thu November 1, 2012 3:41 am

Transcript

STEVE INSKEEP, HOST:

Sandy is likely to go down as one of the costliest storms in U.S. history. The initial estimates of the losses are anywhere from $20 billion to $50 billion. But as NPR's Jim Zarroli reports, the impact on the economy is more complicated than it may appear. Some companies will even make money.

JIM ZARROLI, BYLINE: Economist Greg Daco has been tallying the potential costs of Hurricane Sandy and he says there's no question it's going to hurt the economy more than it will help it.

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Around the Nation
2:16 pm
Tue October 30, 2012

Rising Waters Leave Some Trapped in Moonachie, N.J.

Transcript

AUDIE CORNISH, HOST:

Hurricane Sandy made landfall in southern New Jersey and left a path of destruction all the way up the state. Just across the river from New York in Bergen County, water flowed over the top of a levee along the Hackensack River, and then it poured into the town of Moonachie.

NPR's Jim Zarroli went there today.

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Business
3:19 pm
Tue October 23, 2012

Dow Falls 243 Points On Worst Day In Months

Originally published on Wed October 24, 2012 1:18 am

Transcript

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish. Now, some business news. This past Friday and again today, the Dow Jones industrial average fell more than 200 points. The drop occurred after several big U.S. companies turned in disappointing results. NPR's Jim Zarroli explains.

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World
2:31 pm
Fri October 12, 2012

Do Chinese Tech Firms Pose U.S. Security Threat?

Staff and visitors walk past the lobby at the Huawei office in Wuhan, China. Beijing has urged Washington to "set aside prejudices" after a draft congressional report said Chinese telecom firms Huawei and ZTE were security threats that should be banned from business in the U.S.
AFP/Getty Images

Originally published on Fri October 12, 2012 2:59 pm

Over the past decade, Chinese companies have become major players in the global telecommunications market. This week the House Intelligence Committee issued a report that could interrupt that growth. The committee warned American companies not to do business with two of China's main telecom manufacturers, saying they posed a security threat.

Huawei Technologies is the miracle story of the Chinese high-tech industry, says telecommunications consultant Roger Entner.

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The Salt
12:42 am
Thu October 4, 2012

Despite Greek Economy, Athens Cupcake Business Thrives

Nicole Kotovos arranges cupcakes in the case at her store in Athens.
Jim Zarroli NPR

Originally published on Thu October 4, 2012 7:19 am

Nicole Kotovos was searching for a way to start a new life when the idea struck her: She would go to her ancestral homeland of Greece and open an American-style bakery cafe. She would bring the cupcake fad to Athens.

What she didn't figure on was the historic downturn in the Greek economy.

The former New York TV producer arrived in 2008, just as the country's debt-mired economy was falling into a deep recession it still hasn't emerged from.

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The Salt
12:43 pm
Wed September 26, 2012

Greek Credit Crisis Forces Winemakers, Food Canners To Adapt

Winemakers like Stellios Boutaris, shown near his vineyard outside Naoussa, Greece, and other business leaders have been forced to pursue new financial tactics because credit is hard to come by.
Jim Zarroli NPR

Originally published on Wed September 26, 2012 2:54 pm

When the economic crisis erupted in Greece and the bottom fell out of the domestic wine market, the Kir-Yianni vineyard outside picturesque Naoussa decided to adapt. Like other wineries in Greece, it has increasingly tapped the export market, successfully marketing and selling wine in Europe, the United States and even China.

"If you ask me, this crisis has been good for us," says Stellios Boutaris, the son of the company's founder. "It's going to make us stronger."

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The Salt
1:24 pm
Tue September 25, 2012

Greek Olive Oil Woes Echo Country's Broader Economic Challenges

A Greek farmer drives home with his fresh pressed olive oil in barrels near Alyki, Greece. The country's pure olive oil is hard to find, expensive and poorly marketed, businessmen say.
Matthias Schrader AP

Originally published on Tue September 25, 2012 4:39 pm

Greece is in the fifth year of a painful recession, and it doesn't look like it's going to end anytime soon. One big problem the country faces is a shortage of strong companies that know how to compete on the world market. And nowhere is this more painfully apparent than in the challenges faced by the country's olive oil business.

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Europe
2:45 am
Thu September 13, 2012

Austerity Tested In The Netherlands

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a boost for the euro.

(SOUNDBITE OF MUSIC)

INSKEEP: Opponents of the European currency have been dealt a big setback in the Netherlands. The center-right Liberal Party, which favors remaining in the eurozone, won the most seats in yesterday's parliamentary elections.

NPR's Jim Zarroli reports.

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Economy
2:24 am
Thu September 6, 2012

European Central Bank To Meet On Interest Rates

Originally published on Thu September 6, 2012 7:17 am

Transcript

RENEE MONTAGNE, HOST:

When the European Central Bank holds its monthly meeting today, investors around the world will be watching nervously to see what the bank's head, Mario Draghi, says about interest rates. Draghi was recently quoted as saying he would do whatever it takes to keep Europe's debt crisis from growing out of control, and that could go beyond just cutting borrowing rates.

As NPR's Jim Zarroli reports, any European Central Bank plan to use its resources to prop up Europe's weaker economies will face strong opposition from the Germans.

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It's All Politics
12:46 am
Mon August 27, 2012

Romney's Plan To Broaden Tax Base Finds Critics

Republican presidential candidate Mitt Romney speaks at a town hall meeting in Grand Junction, Colo., on July 10. Romney says he wants to sharply cut income tax rates, but that those cuts would be revenue-neutral.
Nicholas Kamm AFP/Getty Images

Originally published on Mon August 27, 2012 10:22 am

Republican presidential candidate Mitt Romney says he favors keeping all of the Bush-era tax cuts and then adding some more. To pay for these cuts, he would reduce or eliminate some of the tax deductions that many Americans have come to rely on. But his proposals are already facing a lot of resistance.

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Business
2:35 am
Wed August 15, 2012

British Bank Settles Money Laundering Charges

Transcript

RENEE MONTAGNE, HOST:

A British bank has agreed to settle charges that it illegally laundered Iranian money. The settlement with Standard Chartered was announced by New York banking regulators, who'd brought the charges just a week ago. The bank still is under investigation by the federal government. NPR's Jim Zarroli has more.

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Your Money
2:51 am
Sun August 12, 2012

Some Small Investors Still Wary Of Betting On Wall St.

Traders prepare for the start of early trading at the New York Stock Exchange. Some say there's been a loss of faith in the stock market's return on investment over the last 15 years.
Bebeto Matthews AP

Originally published on Mon August 13, 2012 2:55 pm

Ten years ago, Andres Cortez, a chauffeur in Los Angeles, might have been part of the hordes of people dabbling in day trading or haunting the online stock forums. He might have been bragging to his friends about the money he made in tech stocks, or learning how to margin trade at a night school.

Instead, he keeps his distance from stocks.

As he stands by his car and waits for a passenger downtown, Cortez says he has a little money he's put aside and is keeping it in a savings account, where it earns virtually nothing.

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Business
3:15 pm
Wed August 8, 2012

Tax Evaders Beware! Money's Getting Harder To Hide

The U.S. government has been working for years to crack down on Americans dodging taxes overseas. In 2009, under intense pressure, the Swiss bank UBS released the names of its American customers.
Fabrice Coffrini AFP/Getty Images

Originally published on Thu August 9, 2012 12:51 pm

Republican presidential candidate Mitt Romney has acknowledged that he had money in a Swiss bank account until 2010. Romney says he wasn't trying to hide the money, since he reported the account to the government.

Even so, he closed the account at a time when the federal government was in the middle of a major crackdown on offshore tax havens — a crackdown that has made it harder for Americans to hide their money overseas.

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Economy
1:32 pm
Fri July 27, 2012

U.S. Economy Continued To Slow In Second Quarter

Originally published on Fri July 27, 2012 3:02 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. The government said today that the U.S. economy continued to slow during the second quarter of the year. The overall U.S. growth rate fell to just 1.5 percent, as consumers cut back on purchases and spending by businesses, which has been a source of economic strength, also fell. NPR's Jim Zarroli tells us more.

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Economy
12:00 am
Tue July 17, 2012

Romney's Plan To Revive Jobs Has Mixed Results

Republican presidential candidate Mitt Romney speaks about job numbers July 6 at Bradley's Hardware in Wolfeboro, N.H.
Charles Dharapak AP

Originally published on Tue July 17, 2012 2:10 pm

Republican presidential candidate Mitt Romney says he can do better than President Obama at finding jobs for unemployed Americans. One way he would do that is by bringing back personal re-employment accounts.

When people lose their jobs, one of the first places they turn to is their state unemployment office, where they can sign up for unemployment benefits; they often can enroll in some kind of retraining class as well.

In 2004, the Bush administration conducted an experiment to begin privatizing a small part of the federal retraining program.

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