Marketplace PM for April 25, 2005
Posted In: Canada
The biggest crude oil refiner in the U.S. is Exxon-Mobil. At least for a few more weeks. Then the baton will pass to another company. Today Valero Energy said it's buying a rival company called Premcor, a $A seven billion dollar deal. That may be a bargain. In the words of one analyst--quoting here--this will be a cash-making machine for the foreseeable future. Any guesses what that means for the rest of us? Marketplace's Alisa Roth reports.
General Motors announced the recall of more than two million vehicles today. The recall comes at a bad time for GM. Marketplace's Matthew Algeo explains.
Posted In: Canada
This week, new talks over Iran's nuclear ambitions. France, Germany and the UK have kept the diplomatic pipeline open. The Europeans are offering economic incentives. Washington's taking a different approach with Iran, economic sanctions. Despite the split approach...or perhaps because of it...we are starting to see some clear winners. They're the ones making money. From Teheran, Borzou Daragahi reports.
Commentator David Manasian says US sanctions against Iran aren't having much effect, but there are cases where international sanctions have made sense.
Tomorrow, United Airlines is expected to enter another filing in bankruptcy court. The fine print's going be interesting. From what we're hearing, United will try to walk away from its 4 defined benefit pension plans. The government's Pension Benefit Guaranty Corporation would step in. The PBGC would take over $6.5 billion worth of pension liabilities. In return, Uncle Sam would get a $1.5 billion dollar equity interest in the airline.
Since it was passed in the 1970's there've been debates over Title IX, the law that mandates gender equality in school programs. If women and girls aren't given equal opportunities, no federal money. So how do officials determine whether a school's in compliance? The government's now suggesting it may be as simple as sending an e-mail. Marketplace's Lisa Napoli reports on a controversial change.