Marketplace: Monday, June 7, 2004

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A look at today's markets (closing numbers)
DOW 148.26 (1.45%) ; NASDAQ 42.00 (2.12%) ; S&P 500 17.92 (1.60%)

Newscast Monday June 7th, 2004. 9:30 am. The place: the floor of the New York Stock Exchange. For two minutes at the start of the day, the exchange fell quiet in memory of the passing of a president. Today the markets announced this will be a shortened trading week--closing on Friday, the day funeral services will be held for Ronald Reagan. Meanwhile, two important decisions from the Supreme Court today. The high court ruled that the Bush administration can skip an environmental study and declare U.S. roads open for business to trucks from Mexico. Now to ruling number two. At issue: property rights. The case before the court involved six Gustav Klimt paintings--looted by the Nazis from a Jewish family. They're valued at $150 million -- and are now in the Austrian Gallery. Before we leave the legal front, the first criminal trial in connection with the Enron scandal was supposed to begin today. Six defendants are charged in a scheme prosecutors say was a loan disguised to appear as earnings. Now the judge has rescheduled the trial. Scheduling conflicts were officially cited as the reason. Listen to all newscast items

Features Looking Back on Reaganomics Even though he'd been in movies--been Governor of California---been elected President, Ronald Reagan was flattered by the news. A pub in Ireland had been named in his honor. He visited in 1984--in Ballyporeen--home of his great-grandfather. Today his name is on an airport. A ballistic missile test site in the Marshall Islands -- a Peace Garden at Illinois' Eureka College, where he graduated. Today the body of the former president arrived at the presidential library near Los Angeles, which also bears his name. But for years to come, his name will be attached to an economic approach - one that's merited an entry in dictionaries. Reaganomics. Reporter: John Dimsdale Related Story: Family Mourns as America Pays Tribute to Reagan Leave them All Behind - Ride Support Marketplace: Purchase this music from Public Radio MusicSource The Maine Tax Debate Ronald Reagan's tax cut philosophy left a deep impression on his home state. While he was governor, activists began gathering signatures for a controversial cap on property taxes. You've probably heard of it - Proposition 13. Now, voters in states from Maine to Washington are getting out their calculators to see if similar measures might work for them. In fact, tax payers in Maine have two tax initiatives to consider this year. One comes up for a vote tomorrow. Reporter: Susan Chisholm Related Story: Passionate proposals on Maine tax cuts Elaborate Son - Pleasant Grove Support Marketplace: Purchase this music from Public Radio MusicSource Reducing Our Contingent in South Korea It's not a done deal yet - but the U.S. and South Korea are talking about reducing the number of American troops stationed on the Korean peninsula. Officials met yesterday to discuss the plan. And that's what it is: a re-assessment of how the U.S. uses its military assets. With the war on terror, South Korea's been expecting a cutback in the U.S. presence...only not so much, so soon. Reporter: Hillary Wicai Related Story: U.S. plans to slash Korea troops Schizophrenia - Sonic Youth Support Marketplace: Purchase this music from Public Radio MusicSource Better Steaks Through Genetics? Light up the Grill! A steak sizzling on the grill. Could it be more American than apple pie? Agree or disagree, the American beef industry is in a position to lasso the market with a development announced today. The promise: tastier steaks through genetics. Reporter: Helen Plamer Related Story: Cargill using genes to breed tastier beef Fingalikkin' Good - Yada Yada Support Marketplace: Purchase this music from Public Radio MusicSource You Have A Degree? So What ... Have you been noticing all those ads for gifts for dads and grads? Here at Marketplace we tip our mortarboards to America's freshly minted MBAs. Dartmouth and Northwestern - among others - graduate scores of them in mid-June. And now for the sober commencement message. Earning the degree doesn't mean you can do the job... Commentator: Henry Mintzberg

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