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Marketplace: Monday, September 27, 2004
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A look at today's markets (closing numbers)
DOW 58.70 (0.58%) ;
NASDAQ 19.60 (1.04%) ;
S&P 500 6.59 (0.59%)
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Newscast
Blame the hurricanes for disturbing oil production, or increased demand from China, supplies in Nigeria, or even your neighbors SUV - if you want to. Everyone's pointing fingers to explain why oil reached nearly $50 on this September 27th. It's a big number that scares consumers headed for the gas station. And though the Bush Administration says it's keeping tabs on the situation, it's ruling out tapping the nation's Strategic Petroleum Reserves to manipulate prices....
On Wall Street, when it comes to old school it doesn't get much older than Lazard Freres. For more than a century and a half the investment bank has never opened its books to public scrutiny. Stories of chronic infighting and defections -- never explored by prying outsiders. But its days as a private institution - and we do mean private - may be numbered...
Listen to all newscast items
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| Features
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Power Trips - an investigation inside Capitol Hill
Being in Congress used to be such a great deal. Some 15 years ago legislators could take cash from companies or unions simply for giving a speech. They were allowed to keep their campaign war chests when they retired. Congressman Larry Hopkins of Kentucky, kept $665,000 in campaign contributions after promising not to. And it was all perfectly legal. Public outrage ultimately forced congress to crack down and tighten the rules. Today, we have the results of a special investigation into the last great perk on Capitol Hill. Steve Henn of American Radio Works and Marketplace has the story...
Reporter: Steve Henn
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 On the Road Again (Power Trips Theme) - Canned Heat
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Fly me to the moon - no, really!
Who says the sky is the limit? Sir Richard Branson is having none of it. Today, the head of Virgin Airways signed a deal to take paying passengers into space. He's ordered five spaceliners from the U.S. team that built the first private rocket plane. That would be Bert Rutan's Spaceship One, which reached suborbital altitude and safely landed in the California desert just a few months ago. As Marketplace's Stephen Beard tells us, in about three years Branson expects to start selling tickets for flights...on Virgin Galactic.
Reporter: Stephen Beard
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Mexico cements a deal with Britain
Closer to terra firma, a tale of tables turning. For years U.S. and European multi-nationals have swept into Latin America to buy up under-performing businesses. But today, a Mexican company announced it's buying a European rival. If the deal goes through, Mexico's Cemex will own the UK-based RMC Group. And that will make Cemex the largest cement producer in the world...
Reporter: Dan Grech
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Clover over Dover - Blur
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Politics and the negative ad war
Every presidential election cycle seems to bring new complaints about negative campaign ads on TV. The race of 1964 was a watershed. LBJ's infamous Daisy ad... a little girl picking petals from a flower dissolving into a picture of a mushroom cloud. The ad never mentioned Republican Barry Goldwater by name, but the message was unmistakable: a vote for Johnson's opponent would push the country closer to the unthinkable. It ran only once. This election cycle has yet to produce a negative ad likely to have such lasting impact. But David Mark of Campaigns and Elections magazine has noticed a new harshness in the negative ads this time.
Q + A: David Brown with David Mark
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Ac-Cent-Tchu-Ate the Positive - Dr. John
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Coming up on Marketplace...
The King of Congressional Travel
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<< - Back to 09/24 Newscast
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