Marketplace: Friday, January 23, 2004

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A look at today's markets (closing numbers)
DOW 54.89 (0.52%) ; NASDAQ 4.86 (0.23%); S&P 500 2.39 (0.21%)

Newscast Canada joins the Iraq debt-forgiving bandwagon. Some analysts now predict as much as 70 percent of Iraq's debt will eventually be forgiven. And, nations that have agreed to forgive the debt first want to see a stable, sovereign government in Baghdad. Halliburton goes to the Pentagon and says it fired two employees allegedly involved in taking kickbacks from a Kuwaiti subcontractor. But will today's approach hurt or help the company? Listen to all newscast items

Features Music Bridge: Way Away - Yellowcard Support Marketplace: Purchase this music from Public Radio MusicSource Commentary - The SEC needs more money We may see more action from the SEC now that Congress has upped its budget to $800 million a year. But that's still less than the agency asked for. Former SEC investigator and commentator Joanne Cronrath Bamberger says "You get what you pay for." "The SEC is a small federal agency compared to others, but it regulates the largest capital markets in the world," says Bamberger. "It needs more fiscal muscle to protect investors." Congress should give the SEC the real resources it needs, says Bamberger. Commentator: Joanne Cronrath Bamberger Music Bridge: On the Road to Find Out - Cat Stevens Support Marketplace: Purchase this music from Public Radio MusicSource

The income gap is growing again During the roaring 1990s, salaries on the bottom end of the pay scale grew almost as fast as those at the high end. But now, the Labor Department is warning of the return of a growing income gap. The country's lowest-paid workers earned 3 percent less last year than in 2002 while the highest salaries held steady. Experts blame last year's declines on a minimum wage the government hasn't raised since 1997 and a decline in union bargaining power. Reporter: Amy Scott

The icy lexicon of the bottom line on Wall Street Job cuts and plant closures are on their way at Kraft Foods Inc. Analysts expect the food company will cut up to 10 percent of the workforce. But when a Wall Street analyst evaluates the impact of corporate layoffs, the emphasis is not on what it means to the newly unemployed. Individual workers boil down to pennies per share. And, Kraft isn't the only company that is looking to shave pennies lately: Corporate America seems obsessed with cutting costs. Reporter: Bob Moon

The Week on Wall Street It was a week of reacting -- or not -- to earnings reports on Wall Street, and Dallas stockbroker David Johnson wants to weigh in. Host David Brown checks in for the weekly Wall Street roundup. Web resource: Want to drop David Johnson a line? E-mail him at djohnson@marketplace.org.

Japan's ban on U.S. beef hurting Stateside producers Beef was on the agenda today in Tokyo -- but not on the menu. U.S. officials failed to jawbone their Japanese counterparts into lifting a ban on American beef. And, the longer the ban lasts, the harder it is for U.S. exporters to hold on to their biggest overseas market. U.S. beef exporters could soon suffer irreparable damage. Japan now buys one-third of America's beef exports. But as the ban continues, restaurants are running out of stock -- and they're looking elsewhere. Reporter: Jessica Smith Music Bridge: Beef Jerky - Cibo Matto Support Marketplace: Purchase this music from Public Radio MusicSource

Debt-ridden states cancel primaries to save money Democrats still in the race for the White House are heading into the final stretch before Tuesday's New Hampshire primary. But many voters across the country won't have the opportunity to cast a ballot for their presidential candidate of choice. In states like Washington, legislators decided to cancel its primary to save the cash-strapped state a little green. Washington will save around $4 million, but that's out of a $23 billion budget. Many worry this sets a very dangerous precedent. Reporter: Cheryl Glaser Music Bridge: Primary - The Cure Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... A look at the Democratic presidential candidates stance on corporate governance reform.