08/17/07
Marketplace AM for August 17, 2007
Episode Description:
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Big Ben silenced for repairs
The bells at London's famed clock tower have been quieted so some of its 148-year-old parts can be replaced. That they lasted that long is a marvel of Victorian engineering, explains Keeper of the Great Clock Mike McCann.
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The Fed prescribes... relaxed credit
The Federal Reserve has given the credit markets a big dose of a medicine. In a surprise move, it cut the discount lending rate by half a point. It's meant to relax the credit squeeze and that's giving the markets a healthy boost.
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Hello...Skype? Anyone there?
Online phone provider Skype is still working on its network this morning after a software crash yesterday left some 220 million users without service. Critics say the incident highlights a glaring flaw, Stephen Beard reports.
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Disney's musical money machine
Millions of people will be at house parties tonight... to watch a made-for-TV movie on the Disney Channel. That's right. It's the Mouse House sequel to the cash cow called High School Musical. Lisa Napoli does the advanced cross-promotional math.
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'Made in the USA' has new cachet
Mattel is spinning its damage control wheels as fast as it can following back-to-back recalls of millions of its China-made toys. Meanwhile, American toymakers are cashing in - and dreaming of a red, white and blue Christmas. Stacey Vanek-Smith reports.
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Mexico's dream port coming true
Mexico has plans on the drawing board for a brand new megaport that just might become reality, but neighboring ports in Long Beach and Los Angeles aren't too worried about the competition. Dan Grech reports.
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Asian markets fall hard
The Japanese yen is fast gaining strength against the dollar, but that could be bad for Japan's heavily export-dependent economy. Really bad. Economist Andrew Hilton explains.
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Higher cap for Fannie and Freddie?
Mortgage lenders are having trouble getting their hands on lots of cash right now, which has put a crimp in the business of making loans. So at least one lawmaker wants to raise the portfolio cap for Fannie Mae and Freddie Mac. Jill Barshay explains.
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And they say PCs are good with numbers
Computer maker Dell has to restate its finances from the last four years after the company was caught fudging with the numbers to hit performance goals. Ashley Milne-Tyte has more.
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A day at the racinos
Who'da thought slot machines would save horse racing. Tracks have been struggling to keep their gates open for a while now, but the casinozation concept is working so well, Diana Nyad predicts they'll all have slots one day soon.
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