Marketplace: Friday, July 23, 2004

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A look at today's markets (closing numbers)
DOW 88.11 (.88%) ; NASDAQ 39.97 (2.12%) ; S&P 500 10.64 (.97%)

Newscast The direction of the markets does not necessarily correlate with the health of the economy. But when the Dow Jones Industrial Average spends most of this July 23rd just struggling to get above the 10,000 mark, you have to take note. Imagine for a moment that the computer people at work come in over the weekend and get rid of your PC. Today we learned this is an idea IBM is trying to sell. Big Blue wants to convince businesses to ditch the desktop computer in favor of a simpler device...something like a workstation that plugs into a big central computer. Oil prices have been creeping back up this week. One factor is the increasingly uncertain future of Russia's biggest oil company. Today, a group of investors based in Britain offered to pull the Russian energy giant, Yukos, away from the brink of bankruptcy. In a letter to Russian President Putin, the group offered to pay the company's multi-*Billion dollar tax bill . In return, they want a controlling stake in the company. As Marketplace's European Bureau chief Stephen Beard tells us, this poses an interesting dilemma for Mr. Putin. Listen to all newscast items

Features Terrorist reality TV live and in Iraq The Al-Jazeera TV channel today broadcast a new videotape. In it, militants claim to have kidnapped an Egyptian diplomat in Iraq. With new abductions almost every day, TV in Iraq has become a main conduit for terrorists, and a constant reminder of an ongoing state of insecurity. Now there is a backlash - a market for a kind of television that is distinctly escapist. Reporter: Borzou Daragahi Related Story: Arab TV Scrutinizes U.S. Terror War Detention Centers Killing Me Softly - Fugees Support Marketplace: Purchase this music from Public Radio MusicSource Who is ... Michael Cudahy! Here in the states, TV has been full of stories about the war and presidential politics. Yet for most of the summer Americans have riveted to another drama unfolding on TV - and reported in newspapers and newsmagazines. In case you missed it: last night, Ken Jennings of Salt Lake City, Utah chalked up his 37th straight victory on Jeopardy. As of tonight, his winnings are $1.2 million. He's left 74 contestants in his wake. Our commentator was one of them. Commentator: Michael Cudahy Related Story: "Jeopardy" phenom Ken Jennings goes on hiatus with flourish, winning $75,000 Coffee and TV - Blur Support Marketplace: Purchase this music from Public Radio MusicSource The Week on Wall Street Another week gone by on Wall Street. What does it mean? David Johnson knows ... Q + A: David Brown with David Johnson Related Story: The Five Dumbest Things on Wall Street This Week Cigarettes Will Kill You - Ben Lee Support Marketplace: Purchase this music from Public Radio MusicSource Lance's bike Lance Armstrong did not win today's stage of the Tour de France. He didn't have to. He's already garnered enough points that he seems certain to cruise to an unprecedented sixth victory this weekend in the world's most prestigious bicycle race. Four years ago, Lance wrote a book called "It's Not About the Bike". But there's a good chance that folks watching the race won't dismiss the bike altogether. Reporter: Brian Bull Related Story: When being the best is all that you need Strong Black Coffee - Minas Support Marketplace: Purchase this music from Public Radio MusicSource "This Democratic National Convention is brought to you by... " A certain New England-based bank will be getting a lot of bonus advertising next week. You'll be hearing a lot about the "Fleet Center" site of the Democratic National Convention in Boston. Lots of folks don't like the way the naming rights game is played - attaching corporate brands to what are commonly thought of as public spaces. But our consumer activist argues at least its more honest than the way the game is played by the political parties. Commentator: Jamie Court Related Story: Democrats' convention may give FleetCenter new image Jackie Don't Go - Survivor Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... Politics as commodity