Marketplace: Wednesday, April 21, 2004

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A look at today's markets (closing numbers)
DOW 2.77 (.03%) ; NASDAQ 17.00 (.86%) ; S&P 500 5.94 (.53%)

Newscast Alan Greenspan speaks. The world listens and sometimes the markets wobble. Our top story on this 21st day of April centers on the Fed Chief's testimony on Capitol Hill. Most were tuned in for some clue about when short-term interest rates might rise from their current historic lows. All Greenspan would say is "at some point". It's called the beige book because, well, the cover is beige. The colorful stuff's inside. It shows widespread growth in retail sales, manufacturing, mining, energy, tourism, services. The anecdotal survey of the period between mid-February and April is more upbeat than its immediate predecessor. But no serious hint here as to when interest rates might rise. Listen to all newscast items

Features Music Bridge: Can't Let Go - Lucinda Williams Support Marketplace: Purchase this music from Public Radio MusicSource Merrill Lynch, Under Fire A court-appointed panel has awarded a former Merrill Lynch broker $2.2 million in damages. The broker sued the company for harassment and discrimination at its San Antonio office. As with many other recent complaints against Wall Street firms, the charges date back to the 1990s - Merrill says things have changed. But how much distance is there between the modern brokerage - and the old boys club? Reporter: Amy Scott Related Story: "Merrill CEO says sex bias suit is embarrassment"

A Wireless Disconnect Talk about a disconnect. For eight years, a large strand of radio spectrum set aside for wireless phone calls has been tangled in litigation. Unused. Meanwhile more Americans have become dependent on cell phones. We're used to spotty coverage and dropped lines. Today Marketplace reports on a $4 billion deal that might clear the air. Reporter: Lisa Napoli Music Bridge: Country Boy Bounce - Little Jimmy Dickens Support Marketplace: Purchase this music from Public Radio MusicSource

Does Size Matter? Ask Wal-Mart... It's been exactly two weeks since the the first warehouse-sized Wal-Mart opened its doors in Japan - about 60 miles south of Tokyo. The verdict is in. Customers say it's big. Like nothing they've ever seen. And they like it. There's been none of the public rancor there that we've seen here in the States, where there's a debate over whether Wal-Mart's become simply too big. Commentator: Robert Reich Music Bridge: Wadin' - Horace Parlan Support Marketplace: Purchase this music from Public Radio MusicSource

Spoils of War - Part Two Today the United nations Security Council unanimously approved an independent investigation into its oil -for-food program for Iraq. U-S lawmakers claim that while Saddam Hussein was in power, billions of dollars were bled off in kickbacks to officials, activists and journalists from 46 countries. Though Saddam is gone, as is the oil for food program, there are signs the culture of corruption is intact. The U-S has earmarked 20 billion dollars to rebuild Iraq. Yesterday, in our series 'The Spoils of War' Marketplace's Adam Davidson looked at the looseness of the ledgers. Today, he walks the streets of Baghdad where, he says, the evidence of corruption is quite visible - if you know where to look. Reporter: Adam Davidson Marketplace Investigative Series: "Spoils of War" Music Bridge: If I Ever Recover - Basement Jaxx Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Thursday The Spoils of War - Part Three. A Marketplace special report.