Marketplace PM for April 7, 2005
Warner Music Group has been served with another subpoena. New York Attorney General Elliot Spitzer wants to know more about ties between music companies and radio. Payola. Broadcasters are prohibited from taking goods or cash for playing songs on the radio. This new investigation is believed to focus on the role of the middlemen... independent promoters. Chris Morris, Music Editor for the Hollywood reporter has been writing has been writing about this subject for some time...
For the first time in 7 weeks mortgage rates are down. Down sharply, according to a new report from mortgage firm Freddie Mac. The national average for a thirty year fixed: back below six percent. This gives some degree of hope to those who've worried they missed out on the housing boom. Commentator Amelia Tyagi confesses she's wishing and hoping for one more thing. Something akin to... economic calamity.
On Friday most of the people who work for the State of New Mexico will get half-a-day off - with pay. Thanks to Gov. Bill Richardson. The occasion: the funeral of Pope John Paul. All the major networks plan to broadcast extended coverage from Vatican City on Friday. Critics may question church-state separation. There are costs involved when government virtually closes shop for half a day. But some political observers call it a savvy move. Marketplace's Matthew Algeo reports.
Posted In: Canada
India has the highest number of AIDS cases in the world. 5.1 million. But with a population of more than a billion, the disease hasn't yet reached epidemic proportions. And because most Indians with AIDS work in the sex industry there is a heavy stigma surrounding the disease. So sex workers have to take prevention into their own hands. From Bombay, or Mumbai as its known locally, Marketplace's Julie Small reports.
Posted In: Canada
One of the noisiest financial markets went silent at the close of business today. Gone is the old open outcry system at the London Petroleum Exchange, which deals in oil futures.From now on trades will be conducted electronically. The end of an era? Not quite. Marketplace's Stephen Beard reports this could be the start of a transatlantic shouting match.