Marketplace: Wednesday, August 18, 2004

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A look at today's markets (closing numbers)
DOW 110.32 (1.11%) ; NASDAQ 36.12 (2.01%) ; S&P 500 13.46 (1.24%)

Newscast It's been touted as the hottest initial public offering in years. Today, Google threw on some cold water. It slashed the size of its IPO. Make no mistake: this is still set to be the largest non-spinoff tech IPO in history. But with half the number of shares originally planned--and at a price range much less optimistic than first anticipated... There's a saying that a wheel is only as good as its weakest spoke. But what if the hub is broken? The Federal Aviation Administration believes that when it comes to flight delays all over the nation, Chicago's busy O'Hare International is a hub that's out of whack... Word today Delta has hired a big New York firm that specializes in bankruptcy. That doesn't necessarily mean the airline will file Chapter 11... but it does tip the hat at how seriously the suits in Atlanta are looking at that option... Listen to all newscast items

Features First the hurricane, then the scam... First came last weekend's hurricane. Now the gougers have arrived. Ten bucks for a bag of ice. $11,000 to take down damaged trees. Sham insurance adjusters offering to expedite claims if you'll pay $2,000 up front. Florida's Attorney General says his office has fielded more than 1,400 complaints of rip-offs across the central and southwest part of the state. Not all of the complaints check out. But so far, the AG has filed four civil lawsuits... Q + A: David Brown with Doug Kaiser Related Story: Florida to clamp down on Charley scams Little Airplane - Blake Hazard Support Marketplace: Purchase this music from Public Radio MusicSource Japan stays at the top of the game Today the International Herald Tribune did a survey on outsourcing. The story notes that it's not just manufacturing anymore--more white collar work in the financial sector is being farmed out. One source in the article said 'look, it's not just a temporary phenomenon it's the way business is being done now and in the future.' Well, don't tell that to the Japanese. When its electronics industry started trying to cut its losses, it took the outsourcing route. Now its rediscovered the inherent value of the phrase "Made in Japan..." Reporter: Jessica Smith Related Story: Three big Japanese electronics makers in LCD panels talks Concrete Love - Julia Fordham Support Marketplace: Purchase this music from Public Radio MusicSource Will New York sing the convention blues too? In Manhattan today, a group called "United for Peace and Justice" filed suit against the city of New York. They're upset that the city's refusing to let them stage a massive demonstration in Central Park before the opening of the GOP convention--just over a week away. They're not the only ones upset. Businesses in and around the soon-to-be super-tight security zone near Madison Square Garden saw what happened in Boston -- and they're grumbling about having to go into commercial limbo for 4 days... Reporter: Bob Moon Related Story: NYC TO GOP: DROP DEAD Japan Mambo - Tito Puente Support Marketplace: Purchase this music from Public Radio MusicSource Summer vacation for corporate America Today Reuters reported that Corporate America is sticking with its spending plans on into the year, although many companies have decided to tread water right now. When the Federal Reserve says the economy's 'poised' to pick up again, what they're referring to is a seasonal phenomenon... think of it as a summer breather for corporate America. Commentator: Jeff Steinbrink Summertime - Big Brother and Holding Company Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... China's rivers are running dry