Marketplace: Friday, September 24, 2004

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A look at today's markets (closing numbers)
DOW 8.34 (0.08%) ; NASDAQ 6.95 (0.37%) ; S&P 500 1.75 (0.16%)

Newscast On this September 24th, a bankrupt airline's struggle to stay airborne reached a critical stage. Managers at US Airways spent much of this day trying to convince its union workers to accept emergency wage concessions... We could be looking at a top-level management shuffle over at Fannie Mae. This on the heels of a report outlining massive accounting problems at the mortgage finance company. Regulators are calling for some serious house-cleaning... In the interest of disclosure Fannie Mae is an underwriter of this program. It's smaller rival, Freddie Mac, has troubles of its own. Today, it said it's had to reduce its reported earnings by $75 million. That's to reflect a reserve for legal costs arising from the massive restatement of its results in 2003. For the first time in a decade, the Army National Guard will fall short of its recruiting goal this year - by 5,000 soldiers. With a war on overseas and the job market picking up on the home front, what's a recruiter to do? California's air quality rules are among the toughest anywhere. They're getting tougher. Regulators today adopted what are the first rules in the nation demanding reductions in auto emissions linked to global warming. Listen to all newscast items

Features Has Japan got a deal for you ... Sales of existing homes fell last month by 2.7 percent - that's more than expected. One reason: rising mortgage interest rates made buying a home a bit more of a stretch for some Americans. That's not a problem yet for folks in Japan. There, most would-be home owners pay mortgage rates of less than 3 percent. Japanese banks are under pressure to lend even more to boost profits. As Jessica Smith reports from Tokyo, mortgage deals get even sweeter if you're a member of the last untapped consumer base of potential home buyers. Reporter: Jessica Smith Related Story: Slower growth for Japan's economy Fly - Nick Drake Support Marketplace: Purchase this music from Public Radio MusicSource Women and business - a better match? Here in the states, the Center for Women's Business Research says that we now have more than 6 and a half million majority-owned women's businesses. And growing. Commentator and former CEO Margaret Heffernan says she thinks she knows why. Commentator: Margaret Heffernan Related Story: Women business owners back Kerry over Bush The week that was on Wall Street Wrapping up Wall Street for the week, with Dallas stockbroker and business analyst David Johnson... Q + A: David Brown with David Johnson Related Story: Crude Oil Rises to Record Close of $48.88 as Ivan Cuts Supplies Modern Day American Girl - Patty Medina Support Marketplace: Purchase this music from Public Radio MusicSource Hollywood and the Deal Until a few hours ago, next summer was not looking very good for folks who like movies. The stage appeared set for a Hollywood strike. Now comes word that the studios and networks have reached a tentative deal with the Directors' Guild of America. But don't buy your popcorn just yet. As Marketplace's Jeff Tyler tells us, there are a couple of other players still trying to strike deals, and no assurance of a happy ending. Reporter: Jeff Tyler Related Story: Hollywood writers vote for new president under federal supervision All the Pieces - Patrice Pike Support Marketplace: Purchase this music from Public Radio MusicSource Some latte and some yoga Some things lend themselves more easily than others to mass marketing. A cup of coffee for instance. Starbucks took that, added $2 cookies, opened up shops everywhere, and voila -- a brand that's a household name. But it's much more of a challenge when what you're selling isn't a tangible product. What if you're trying to sell something more ethereal? Say, an ancient spiritual practice. Marketplace's Lisa Napoli looks at what happens when you try to turn following your bliss - into a business. Reporter: Lisa Napoli Related Story: Naked yoga OK in San Francisco Peace, Love, and Understanding - Charlie Hunter Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... Power Trips, a special report