Marketplace Morning Report for Wednesday, October 22, 2008

Episode Description 
Marketplace Morning Report for Wednesday, October 22, 2008

Merck slump could mean 7,200 jobs

Drugmaker Merck is blaming the rise of generic sales for its 28 percent profit loss this morning. To balance out the blow, the company wants to cut 12 percent of its work force. Jennifer Collins reports.
Posted In: Health, Wall Street

T-Mobile in smart phone competition

T-Mobile has released the G-1 phone, a smart phone powered by Google technology. Will its lower price and touchscreen sensibility make it competition for AT&T and iPhone? Mitchell Hartman rings up this report.
Posted In: Science

Argentina nationalizing pension system

Argentina's government announced it will nationalize the country's private pension system, which works somewhat like 401K accounts in the U.S. Dan Grech reports the move is to combat mounting debts.

They still eat out in Paris

Times may be hard, but the French still love to eat -- with a little thrift-minded moderation. Eleanor Beardsley checks in with Parisian cafe-goers to find out where they're cutting down so they can still go out.
Posted In: Food

Baltic Dry Index actually drying up

The Baltic Dry Index represents the cost of shipping commodities like coal or soybeans in cape-sized vessels. And the cost has fallen sharply. Stephen Beard explains why this index is often a yard stick for the world economy.

House may help curb the 401K blues

Congress is meeting to explore ways to help workers cope with shrinking 401K's. One method would encourage penalty-free 401K and IRA loans. Nancy Marshall Genzer looks into what else the House is considering.
Posted In: Retirement

Where the credit rating industry failed

The heads of the three biggest ratings companies will be at a congressional hearing today to answer the big question: Where were they to help prevent this mess? Washington Bureau Chief John Dimsdale reports.

Euro back on the way down

The euro is now back where it was two years ago at $1.28. Megan Williams reports it's because investors are betting on another interest rate cut from the European Central Bank to help with the weakening economy.
Posted In: Investing

All tax plans are wealth redistribution

Joe the Plumber doesn't like a tax plan that "spreads the wealth around," which Sen. John McCain calls socialism. But commentator Will Wilkinson says all tax plans, even McCain's, are by nature wealth redistribution.

Music from this show

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Seventeen Years
Tell Me
Sharon Jones & The Dap-Kings

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