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Marketplace: Thursday, July 22, 2004
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A look at today's markets (closing numbers)
DOW 4.20 (.04%) ;
NASDAQ 14.69 (.78%) ;
S&P 500 2.96 (.27%)
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Newscast
After two straight days giving lawmakers an optimistic take on the state of the economy, Fed Chief Alan Greenspan has been vindicated. Wow, that was quick! But it's what business analysts were saying on this July 22 after they heard today's news about weekly unemployment claims. They fell more steeply than expected last week -- dropping by 11,000, and reinforcing perceptions that the labor market is making a comeback.
Just one day after the Phillipines capitulated to hostage-takers' demands, there's a new crisis aimed at commercial interests. This time, the hostages are three Indians, three Kenyans and an Egyptian -- all employees of the Kuwait and Gulf Link Transport Company. If the company doesn't stop doing business in Iraq, the terrorists say they'll behead their hostages, one every three days.
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The expensive wars get more expensive ...
The Democrats today came out swinging against President Bush over the price of the wars in Iraq and Afghanistan. The criticism follows the news that the Pentagon will need more than $12 billion through September to to cover its costs. That's roughly triple the amount projected last April.
Reporter: Hillary Wicai
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... as Britain shakes up its own military
Though Americans complain about the high costs, the Brits are looking at the American model -- and seeing an opportunity to save money. In fact, the U.K. has launched the biggest shakeup of its armed services since the end of the cold war.
Reporter: Stephen Beard
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It's a research report AND a marketing press release
Today, a company called Quest Diagnostics released a report with disturbing findings for employers. The survey suggests methamphetamine is becoming a major problem in the workplace. Last year, meth use by workers and job applicants jumped 68 percent. Something else caught our eye -- in the press release, Quest Diagnostics describes itself as the leading provider of employer drug testing services in the country. So we wondered: Is this information, or marketing?
Reporter: Helen Palmer
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A White Castle in Los Angeles?
There are certain food items that manage to generate a cult-like following. If you know what a Slider is, then you're part of the cult of White Castle. But as a family-owned regional hamburger chain, there are lots of uninitiated Americans. For instance, we've never seen a White Castle here in Los Angeles. But that changes tonight when a full scale replica hamburger stand opens on the Sunset Strip. In fact, the Hollywood connection could be the start of something very big... for a very little burger.
Reporter: Lisa Napoli
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Playing games with BMW
If you've ever had a defective product repaired under warranty, then you may have had to spend time on the phone, send in some documentation... minor hassles of that sort. But when a Miami woman was burned by defective air bags in her BMW, she balked when not one, but two dealers asked her to sign some papers pledging to keep the the whole thing a secret. It's no secret anymore. It's the basis of a lawsuit.
Reporter: Rachael Dornhelm
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So you want to be a trucker?
Today United Parcel Service reported an 18 percent rise in quarterly profit. It's another sign that manufacturers want to 'move product'... This would be spectacular news for trucking companies too -- if only they could find enough folks to drive the 18-wheelers.
Reporter: Patty Murray
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Metronaps
If you're on your way home from work, congratulations. You may feel a bit run-ragged, but you've probably added to the productivity gains we've been reading so much about. Wouldn't it be nice, though, to jump off the hamster wheel every so often? Perhaps an afternoon siesta could be good for business. Commentator and writer Jill Jacobs has been sleeping on this idea -- and paying for the privilege, too.
Commentator: Jill Jacobs
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Coming up on Marketplace...
Corporate sponsorship gone too far?
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