So your house burned in the wildfires. Would you rebuild with wood?

Summary

Marketplace Morning Report Episode: So your house burned in the wildfires. Would you rebuild with wood?
Release Date: August 14, 2025
Host: David Brancaccio
Duration: Approximately 8 minutes

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1. Zelle Payment Platform Faces Lawsuit from New York Attorney General

At 00:27, David Brancaccio introduces a significant legal development involving Zelle, a widely used payment platform. Nancy Marshall Genzer reports that New York Attorney General Letitia James has filed a lawsuit against Early Warning Services, the company that developed and operates Zelle.

Key Points:

• Allegations: Letitia James claims that Zelle was launched hastily to compete with other payment apps like PayPal, resulting in inadequate safety features. Specifically, the registration process lacked critical verification steps, making customers vulnerable to fraud.

• Fraud Impact: According to James, scammers exploited these vulnerabilities, tricking consumers into unauthorized transfers by offering non-existent goods or services. This led to over $1 billion in fraudulent transactions from Zelle users between 2017 and 2020.

• Zelle's Response: In a statement to Reuters, Zelle defended its security measures, stating that "more than 99% of the transactions on its platform are now completed without reported fraud," and labeled the lawsuit as a "political stunt."

Notable Quote:

"Zelle was hastily launched to compete with other payment apps like PayPal and didn't have critical safety features." — Letitia James (00:46)

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2. Kodak Remains Optimistic Amid Business Uncertainties

Transitioning to the state of the iconic photography company, David Brancaccio discusses Kodak's current business standing at 01:44.

Key Points:

• Technical Warning: Despite reports from various media outlets suggesting financial instability, Kodak asserts that it remains "optimistic about the future," is not planning to go out of business, and is "not burning through cash."

• Operational Focus: Kodak continues to produce film for the movie industry, maintains its chemical and commercial printing businesses, and leverages its renowned brand identity to sustain operations.

• Workforce Reduction: The company has significantly downsized, now employing fewer than 5,000 people compared to 145,000 in 1988.

• Analog Resurgence: There is a renewed interest in analog photography, with silver halide film cameras gaining popularity once again, harking back to the technology that once brought Kodak immense success.

Notable Quote:

"The Cool Kids have come back to analog using silver halide film cameras that once made Kodak so rich." — David Brancaccio (02:32)

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3. Rebuilding Homes After Wildfires: The Case for Wood Construction

The episode delves into the pressing issue of rebuilding homes destroyed by wildfires, exploring the viability and benefits of using wood as a primary construction material. This segment begins at 03:35 and features insights from architecture experts and industry professionals.

Key Points:

a. Rebuilding Challenges Post-Wildfire

• Financial Concerns: David Brancaccio highlights the immediate dilemma faced by wildfire victims: securing the finances to reconstruct their homes.

• Environmental Considerations: Beyond cost, there's a growing emphasis on rebuilding in an environmentally friendly manner that can withstand future fires.

b. Innovative Wood Construction Techniques

• Alternative Materials: Some builders consider using plastic insulation between concrete, or employing stone and steel frames to enhance fire resistance.

• Mass Timber Solutions: Architecture professor Mark Fretz from the University of Oregon introduces mass timber, specifically Cross Laminated Timber (CLT), as a sustainable and fire-resistant building material. CLT comprises small boards glued in crisscross layers, offering both strength and a unique aesthetic.

Notable Quotes:

"A house that's similar to an Ikea dresser that you can take apart and flat pack and bring home." — Mark Fretz (04:43)

"If you can keep that carbon in a building material, you can sequester that carbon for hundreds of years." — Judith Schein (05:55)

c. Benefits of Mass Timber

• Fire Resistance: Contrary to some beliefs, mass timber does not act like kindling. Instead, when exposed to fire, it forms a sooty layer that protects the inner structure from burning.

• Sustainability: Utilizing younger, farmed trees or those culled to reduce wildfire risks helps maintain forest health and supports carbon sequestration, thereby mitigating climate change impacts.

• Carbon Footprint: A government study cited by Mark Fretz indicates that a mass timber commercial building has a nearly 70% smaller carbon footprint compared to its reinforced concrete counterpart.

d. Practical Implementation and Challenges

• Cost vs. Labor Savings: While CLT panels are more expensive upfront than traditional studs and plywood, they offer labor savings by allowing homes to be assembled quickly—a single-family house can be boxed up in about a week.

• Adoption Rates: Despite the advantages, mass timber adoption in the U.S. remains limited, with only around 100 single-family homes utilizing the material. Efforts are underway to establish mass timber microfactories to customize panels for smaller projects, facilitating broader implementation.

Interviews & Insights:

• Steve Marshall of Mass Timber Strategy emphasizes the need for smaller mills to support customized panel production for diverse building needs.

• Maurice Romming from O'Neill Construction Group shares his experiences working with mass timber, including projects like Portland's Wood Forward Airport Terminal.

Notable Quote:

"There's the idea of sustainable forest management and carbon sequestration which interests people." — Judith Schein (05:07)

e. David Brancaccio’s Personal Reflection

Towards the end of the segment, David Brancaccio shares his personal considerations regarding rebuilding his own home. He weighs the financial implications against the sustainability benefits and the practicality of utilizing his land in Altadena.

Key Points:

• Alternative Solutions: While the most sustainable option might be converting the land into a meadow and relocating to an existing residence, personal and financial factors influence the decision to rebuild.

Notable Quote:

"The most sustainable approach would be for us to turn our burned little plot of land in Altadena into a forever meadow and to move into an existing dwelling with maybe our kids." — David Brancaccio (07:42)

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Conclusion

This episode of Marketplace Morning Report provides a comprehensive overview of pressing economic and environmental issues. From scrutinizing the security flaws in popular financial platforms like Zelle to exploring innovative and sustainable construction methods in the wake of devastating wildfires, David Brancaccio delivers insightful discussions that inform and engage listeners. The segment on mass timber, in particular, underscores the interplay between sustainability, safety, and economic practicality in modern rebuilding efforts.

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Notable Advertisements Skipped:

• Promotions for Wix and Grainger services were featured at various timestamps but have been omitted from this summary to focus solely on the episode’s substantive content.

Transcript

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[David Brancaccio]

Imagine using wood to rebuild after wildfire. Some are I'm David Brancaccio in Los Angeles. 1st New York's Attorney General is suing the company that runs the Zelle payment platform, alleging its customers were left open to fraudsters who stole millions. Nancy Marshall Genzer reports.

[Nancy Marshall Genzer]

New York Attorney General Letitia James sued Early Warning Services. The company that developed and operates Zelle Early Warning Services is owned by some of the biggest banks in the country. James James says Zelle was hastily launched to compete with other payment apps like PayPal and didn't have critical safety features. The Attorney General says Zelle had a simple registration process that didn't have important verification steps. James says scammers took advantage of that, accessing users Zelle accounts and making unauthorized transfers were tricking consumers into sending money for non existent goods or services. The Attorney General says scammers stole more than a billion dollars from Zelle users from 2017-20. In a statement to Reuters, Zell says more than 99% of the transactions on its platform are now completed without reported fraud, calling the lawsuit a political stunt. I'm Nancy Marshall Genser for Marketplace.

[David Brancaccio]

Kodak is saying it's optimistic about the future, is not fixing to go out of business, and is not burning through cash. This after several media outlets noticed what the company calls a technical warning in an official Kodak filing raising the issue of going out of business. Kodak still makes film for the movie industry, has a chemical and commercial printing business, and gets mileage from its iconic brand. In this digital camera phone era, it has less than 5,000 employees, down from 145,000 in 1988. The Cool Kids have come back to analog using silver halide film cameras that once made Kodak so rich.

[Grainger Representative]

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[David Brancaccio]

For many people like me who lost a house in the California wildfires this year, the most pressing question is do we have the money to rebuild? But today, a second key question.

[Mark Fretz]

How to rebuild in an environmentally friendly.

[David Brancaccio]

Way that might also stand up to the next fire. Some are thinking about plastic insulation sandwiched between concrete. Some like frames of stone steel. I've also been looking at get this wood. Even after the fire in Altadena turned all the wood in my old stick n stud house into gray ash.

[Grainger Representative]

Brrr brrr.

[Mark Fretz]

That's me turning into a four year old given a toy sized 3D printed truck. Here at a University of Oregon lab, architecture professor Mark Fretz shows me the real attraction. A stack of scale model wood panels on the truck ready for hoisting.

[David Brancaccio]

I don't see any two by fours.

[Mark Fretz]

Where are your studs my friend?

[Maurice Romming]

Yeah, no studs in this house. This is all a flat panel.

[Mark Fretz]

Scaled full size, the panels can be tipped up onto a foundation to make a house.

[Maurice Romming]

A house that's similar to an Ikea dresser that you can take apart and.

[Mark Fretz]

Flat pack and bring home, but not Ikea particleboard. These panels can be made from what's called cross laminated timber. So CLT lots of small boards glued together in crisscross layers for strength. In places like Oregon, they see gold in this engineered spruce, pine or fir.

[Judith Schein]

To revive the timber economy is through the use of mass timber is exciting to everybody.

[Mark Fretz]

Judith Schein is director of design at the Tallwood Design Institute and a University of Oregon architecture professor.

[Judith Schein]

There's the idea of sustainable forest management and carbon sequestration which interests people.

[Mark Fretz]

Why would a person who just saw their house burned down want to rebuild with wood?

[Judith Schein]

It would be reasonable to ask that question because it's been compared to building with kindling. It's a big thick material that does not burn easily.

[Mark Fretz]

Exposed to fire, mass timber turns black and that sooty layer stops the fire from eating through the rest of the wood. CLT panels can be made from younger farmed trees or spindly ones culled from forests to lower the risk of wildfire and to allow the big trees to thrive. And remember, trees capture climate altering carbon.

[Judith Schein]

And if you can keep that carbon in a building material, you can sequester that carbon for hundreds of years.

[Mark Fretz]

A government study found a mass timber commercial building would have a nearly 70% smaller carbon footprint than an equivalent reinforced concrete one. So come for the fire and green benefits, but stay for the design. If you like the look of natural.

[Grainger Representative]

Wood over drywall, it's really it warms the space.

[Mark Fretz]

Maurice Romming with o' Neill Construction Group is an Oregon contractor who's worked with mass timber, including a piece of PDX Portland's Wood Forward Airport Terminal.

[Grainger Representative]

Especially on single family, but also on multi family homes. It's going to be mostly all prefabricated to engineer specifications a lot quicker, easier.

[Mark Fretz]

That said, CLT panels are more expensive than studs and thin plywood. The hope is you save money on labor at the job site, where a single family house can be boxed up in a week or so. Apartment complexes and commercial buildings made of mass timber are springing up across the country, up to 18 stories tall. But in the US only about 100 single family homes use the stuff. Steve Marshall runs the consultancy Mass Timber Strategy after a long career in the US Forest Service. Old stick and frame habits die hard, he says, and you need smaller mills to customize the panels for the small jobs. He's now working on mass timber microfactories.

[Steve Marshall]

Buying blank panels from the large manufacturers and then providing them to these cutting centers where the unique cutting of the panels will be done for specific buildings. And a lot of that target will be multi family, but it will include single family homes as well.

[David Brancaccio]

I'll report more on what we decide to use for our rebuild. Cost is always a factor and I appreciate that. The most sustainable approach would be for us to turn our burned little plot of land in Altadena into a forever meadow and to move into an existing dwelling with maybe our kids. But our children don't have the room. And leaving the one real estate asset we own undeveloped seems like bad personal finance. In Los Angeles, I'm David Brancaccio Marketplace Morning report from APM American Public Media.

[Wix Representative]

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