Marketplace PM for April 5, 2005
Shares in the world's largest insurer rallied for a second straight day. American International Group, AIG, has been caught up in a massive investigation of accounting irregularities. Word out of the New York Attorney General's Office. A resolution might be reached without criminal charges. For years, some analysts and reporters have wondered about the company's books. But commentator and business writer Tom Easton claims AIG's always had a little extra 'cover'... courtesy of some well-heeled friends.
Posted In: Wall Street
11 days and counting. But you've probably already filed, right? There are a lot of people who can't wait for their refund checks. They are especially dear to people who fall under the poverty line and who qualify for an earned income tax credit. The government cut EITC checks for nearly 21 million Americans last year. That doesn't mean those 21 million Americans got all their money however. Alisa Roth reports from New York on how some companies take a cut right off the top.
Posted In: Canada
One of the big stories today - big cutbacks at Pfizer. As in so many industries, pharmaceutical companies are trying to save costs by outsourcing. And as an outsourcing magnet, India is hoping to take a leading role in R&D for drug makers. But it doesn't stop there. India already has a hand in more of your medical needs than you may realize. Miranda Kennedy reports from New Delhi.
Posted In: Canada
Seattle has the Evergreen Point bridge. In DC, it's the interchange at 270 and the Beltway. In Chicago, it's where I-88 and the Eisenhower Expressway come together. The AAA says these places rank among the worst when it comes to traffic congestion. But none hold a candle to what you'll find on most any artery in Sao Paulo. Traffic's so horrible in the Brazilian city of 18 million, it's more than an inconvenience. It's an expensive drain on business productivity. At least it keeps a small army of daredevils well-employed. America's Desk correspondent Dan Grech reports.
So many letters, and so little time. Marketplace host David Brown gets through as many as he can... in this edition of Letters.