Marketplace: Tuesday, August 10, 2004

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A look at today's markets (closing numbers)
DOW 130.01 (1.32%) ; NASDAQ 34.06 (1.92%) ; S&P 500 13.82 (1.30%)

Newscast The Fed met today to set interest rates and there was pressure on them to move rates in all directions. In the end, they bumped the rate up. Host David Brown speaks to Marketplace's Washington bureau chief John Dimsdale about the Fed meeting. Also, productivity numbers came out today and they're up - but at the slowest rate since 2002. Marketplace's Bob Moon explains why. Listen to all newscast items

Features More terror threats aimed at businesses, banks This morning we awoke to word that terrorists appeared to be scoping out Las Vegas. As the day progressed, we learned that officials have been mum about another suspected surveillance operation. This one, aimed at financial institutions and public transportation services across the southeast: from Austin, Texas to Charlotte, North Carolina. Workers were advised to go about their business as usual despite the suspicious work of a Pakistani national now in custody. Reporter: Scott Tong Related Story: FBI warns of new terror threats I Am So Ordinary - Paula Cole Support Marketplace: Purchase this music from Public Radio MusicSource Banks declare war - on credit unions A few years ago, a major consumer bank used to have a slogan along the lines of 'if you can't come to the mountain, the mountain will come to you'. It was supposed to be reassuring. But in an era of mergers in the banking industry, the idea of banks the size of mountains may have been more ominous than anything else. Upset about fees and impersonal service, many Americans have moved to credit unions. Now the banks have declared war. Reporter: Hillary Wicai Related Story: Green credit unions do well by doing good Tengo Frío - Ely Guerra Support Marketplace: Purchase this music from Public Radio MusicSource The unfriendly skies of United... "Hostility and chaos." That's what pilots at United Airlines are promising - if the company goes through with its promise to slash their pensions. Reporter: Matthew Algeo Related Story: Pilots Threaten Legal Action Against UAL Dr. Crash - Yo La Tengo Support Marketplace: Purchase this music from Public Radio MusicSource Promises made, promises broken The controversy over companies reneging on pension benefits is by no means limited to United. If the situation continues on course, our commentator argues this wouldn't be the first time 'promises made' were promises 'spectacularly broken'... Commentator: Robert Reich Related Story: Lessons learned from city pension deficits Runaway Train - Kasey Chambers Support Marketplace: Purchase this music from Public Radio MusicSource Leucadia. Who? The small company trying to buy MCI isn't planning on staying small for long. Host David Brown talks to Fortune Magazine's Adam Lashinsky about Leucadia National's plan to go big-time. Q + A: Host David Brown with Adam Lashinsky Related Story: Leucadia National Wants to Buy MCI Tony - Patty Griffin Support Marketplace: Purchase this music from Public Radio MusicSource How much is too much? Days before the Summer Olympics is set to launch, one must wonder if the folks at NBC are doing some nail-biting. After all, the network paid $793 million for the rights to show America the games. The hope is that this investment will pay for itself - and then some - with sponsorship dollars. And with so much at stake, you have to keep the sponsors happy. But in this effort to keep the sponsors happy, at what point do your risk 'putting off' potential viewers? Reporter: Lisa Napoli Related Story: NBC's Olympian effort a marathon, not a sprint Soft Serve - Soul Coughing Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... Take a trip to a mythical place.