Episode Transcript
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0:00
Hi, this is Janice Torres from Yoquiero
0:02
de Nero. If you own or operate
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a business, whether it's a local operation
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or a global corporation, partnering
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with Bank of America could be your smartest move.
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By teaming with Bank of America, you'll
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enjoy exclusive digital tools, award-winning
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insights, and business solutions so
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powerful, you'll make every move
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matter. Position your business
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to capitalize on opportunity in a moment's
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notice. Visit
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bankofamerica.com/bankingforbusiness to
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learn more. What would you like the
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power to do? Bank of America,
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N.A. Copyright 2024. Hello,
0:54
and welcome to the Intelligence from the
0:56
Economist. I'm Rosie Blore. And
0:58
I'm Jason Palmer. Every weekday, we
1:00
provide a fresh perspective on the events
1:03
shaping your world. When
1:08
schools reopened after the pandemic, many
1:10
children were desperate to get back
1:12
to in-person learning. Others? Not
1:15
so much. Now, some schools in
1:17
America are trying clever new ways to coax
1:20
back truants. And
1:23
pity the marketing departments at
1:25
automakers. The annals of
1:27
history include some really bad ideas
1:30
for branding new models. Our
1:32
industry editor looks at the sometimes
1:34
arbitrary yet always delicate business of
1:37
naming new cars. But
1:45
first, elections
1:53
for the European Parliament can be
1:55
extremely telling, as
1:57
voters in EU countries elect a member of the
1:59
board. Parliament to represent their constituency in
2:02
Brussels, they, of course, set a
2:04
path for the Parliament itself. But
2:06
the exercise is also an intriguing
2:09
window into national politics, and
2:11
this year's has brought a shock to France.
2:14
The party of President Emmanuel Macron did
2:16
so poorly that he opted to call
2:18
an election at home. I
2:20
decided to go to the House of the
2:23
United States to the party of the
2:25
United States.
2:28
He said he was dissolving the
2:30
National Assembly, giving back to citizens
2:32
the choice for our future. This
2:34
decision is a great
2:36
deal. But
2:38
it is a choice of confidence. Confidence
2:42
is a choice, but it's not. He
2:44
called it an act of confidence, confidence
2:46
in the French people to make the
2:48
fairest choice for themselves and for future
2:51
generations. That choice
2:53
may lean, as the EU voted,
2:55
toward the hard-right National Rally Party
2:58
of Marine Le Pen, who claimed,
3:00
unsurprisingly, at this point, to
3:06
be ready to exercise power, to
3:08
defend the interests of the French.
3:11
France wasn't the only country that saw a
3:13
shift to the right. Those
3:16
shifts reflect politics at home, but also
3:18
hint at how the business of governing
3:20
Europe is likely to change. The
3:23
European parliamentary elections have been going on for
3:25
several days, but the votes were only counted
3:27
last night, and they were a bit of
3:29
a surprise. Chris
3:31
Lockwood is our Europe editor. Hard-right
3:34
parties did really well in France and Germany.
3:36
Elsewhere, though, the hard-right didn't do quite as
3:39
well as people had feared, so that overall,
3:41
we don't see a big shift to the
3:43
right. But in those two countries, the effects
3:45
have been pretty shocking. So
3:48
let's go to France first. What happened there?
3:51
Well, this was by far the
3:53
biggest surprise of the evening. It
3:55
was expected that Emmanuel Macron's party,
3:57
which is called Renaissance, school
14:00
for the same reasons. They
14:02
might be struggling because they don't have the
14:04
proper supports at home, they don't have the
14:06
basic necessities like food or shelter,
14:08
or it could be that they're just not
14:10
that invested in school and that could be
14:13
the kid themselves or the parents seeing
14:15
how the child responds when they go to school. What
14:18
sorts of things can schools do then to
14:20
try and make kids or parents feel more
14:22
invested in what they get out of being
14:24
at school? I think
14:26
the obvious answer is to improve instruction. One
14:28
way to do that is through high-impact
14:31
tutoring, which is basically a fancy
14:34
phrase for giving kids small
14:36
group instruction for about 90 minutes per week.
14:39
There was a study based on DC schools
14:42
out of Stanford University that showed
14:44
that such a program might actually
14:46
increase attendance by about three days,
14:48
but some schools need a much
14:50
bigger improvement and a
14:52
much heavier intervention for their absenteeism
14:55
problem. That might mean having to
14:57
focus specifically on students who are
14:59
struggling the most. That
15:01
sounds quite labor intensive. Is it actually
15:04
viable? It is viable
15:06
if you have good data. What's interesting
15:09
about this idea is that it can seem so
15:11
simple. It's like, oh, of course you find the
15:13
students who are struggling. But that actually
15:15
requires, like you mentioned, good data and somebody
15:17
to have the time to comb through that
15:19
data and look at student grades and attendance.
15:22
It's both a simple solution but also an
15:24
actually difficult one to implement. So
15:26
has anyone tried this and been successful? Manzano
15:29
High School in Albuquerque, New Mexico was
15:31
having a huge absenteeism problem. Over
15:34
60% of their kids missed 10% or more
15:37
of the school year. So they reached out
15:39
to a group of nonprofits and universities that
15:41
work to help schools with these kinds of
15:43
problems called grad partnerships. And
15:45
a year later, their absenteeism rate actually dropped
15:47
to 45%. They
15:50
expect to actually drop even further this
15:52
academic year. We knew
15:54
we needed to rely on data to help move
15:56
this work forward. So this is the principal of
15:58
Manzano High School. been
20:00
caught out by unfortunate translations. Chevrolet's
20:03
Nova means no-go in Spanish, while
20:05
the Mazda Laputa translates as prostitute.
20:08
Ford's Pinto is probably even worse, it
20:10
means small penis in Brazilian slang. One
20:14
way of getting around this is using a collection
20:16
of letters and numbers. It's safer but it's not
20:18
bulletproof. Toyota's MR2 had to
20:20
chop the D in France. The
20:23
full name sounded close to the word for shit. But
20:28
the latest problem with naming cars is apparently
20:30
geopolitics. China's car makers have Europe in their sights as
20:34
their next market they want to expand into, and that's caused problems.
20:36
Zhao Mi, a Chinese tech giant that's turned to car making, wants
20:40
to brand just a platform underpinning its expensive
20:42
SU7 saloon as the Modena. It
20:48
doesn't sound like a problem, but it is, because
20:50
that happens to be the name of the Italian city
20:52
with both Ferrari and Maserati, two pricier European marks that
20:54
make fancy sports cars. Hail
20:58
from. This
21:03
has incurred the displeasure of the
21:05
city's mayor and Italy's Minister for Enterprise, and it
21:07
may even fall foul of Italian law banning use
21:09
of Italian place names for foreign products. But
21:13
it's not any Chinese car makers that
21:15
have committed such errors. Alfa Romeo, which
21:17
is a quintessential Italian car brand, was
21:19
forced to hastily rebrand the Milano,
21:21
a small SUV, as the junior, days after
21:23
it was launched in April. That's
21:27
because it turned out the cars were made
21:29
in Poland. But
21:33
I wonder if before long foreign car makers might try
21:35
to win favour with Chinese customers by calling one of
21:37
their models the Hangzhou after the country's car making heartland.
21:40
Perhaps they should think twice. That's
21:58
all for this episode of the Intelli- Hi,
22:23
this is Matt and Sean from Two
22:25
Black Guys with good credit. From a
22:27
local business to a global corporation. Partnering
22:31
with Bank of America gives
22:33
your operation access to exclusive
22:35
digital tools, award-winning insights, and
22:37
business solutions so powerful you'll
22:39
make every move matter. Visit
22:41
bankofamerica.com/banking for business to learn
22:43
more. What would you like the
22:45
power to do? Bank of America,
22:47
N.A., copyright 2024.
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