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NPR's Tom Goldman reports on the economics of small-market baseball. Unlike major league football, professional baseball revenues aren't widely shared among franchises. Teams like the New York Yankees and the Atlanta Braves earn significant money from TV contracts, and that allows them to afford the sport's top talent. But smaller-market teams must rely on fan loyalty to fill the ballpark. And while they may nurture young, rising stars, these teams know that talented players are likely to go where the money takes them.

New York Mayor Michael Bloomberg mounts a campaign against noise pollution, the top complaint on a police "quality of life" hotline. New Yorkers are annoyed by the racket from car horns and personal stereos -- and from loudspeakers coaxing people into bars and restaurants. NPR's Margot Adler reports.

NPR's Eric Weiner reports that Japan's worst economic downturn since World War II has radically changed expectations of young college graduates. In years past, the country's corporate giants would go to the top schools and actively recruit new employees, who generally were given jobs for life. Now it is the students who are chasing employers. And many of them are not finding jobs. Some have given up on full-time employment and simply bounce from one part-time job to another while living with their parents.

Southern California Edison, one of California's cash-strapped electric utilities, defaulted to some of its creditors today. It failed to repay, at least temporarily, a 596-million-dollar wholesale electricity bill. The move brings the company a step closer to bankruptcy. The utility said the action was necessary to allow it to continue operations while state and federal officials seek a regulatory solution to California's power crisis. The state, meanwhile, declared another top level power emergency today, citing a shortage of natural gas needed to generate electricity. Scott Horsley reports.

Noah Adams talks with reporter Tom Gibb about a massive fire which has crippled an enormous 40-story offshore oil rig located 75-miles off Brazil's Atlantic coast. Officials are trying to prevent a spill of the 400,000 gallons of oil on board. The rig may sink within 48 hours. Three explosions on Thursday damaged a pillar supporting the rig; the explosions killed one worker and left nine others missing and presumed dead. The offshore rig was Brazil's top oil producer in the rich Campos Basin.

Thomas Ricks, senior Pentagon correspondent for The Washington Post, discusses this week's long-awaited progress report from Gen. David Petraeus and Ambassador Ryan Crocker, the top two American officials in Iraq.

You can buy "full destroyed" high top sneakers. The sneakers come shredded and dirty. For a mere $1,850, you too, can look like you don't care how you look.

British Prime Minister Tony Blair visits Iraq's new prime minister, Nouri al-Maliki, in Baghdad. British officials say the leaders spoke about the eventual departure of foreign forces from Iraq. Maliki has said his top priority is halting insurgent attacks and stemming sectarian violence that has wracked the country.

This Sunday, two of the world's top solo explorers will attempt to do what no one has ever done: travel 620 miles on an unsupported mission to the North Pole in the total darkness of Arctic winter.

The new documentary Murderball looks at the rough-and-tumble world of quadriplegic rugby -- otherwise known as "murderball." Fresh Air talks to top-rated player Mark Zupan and Dana Adam Shapiro, the film's co-producer and co-director.