Marketplace PM for February 17, 2005
Before the weekend, a tort reform bill is expected to get President Bush's signature. It's considered a victory for the White House and for business interests. That's because the new law would shift most complex class action lawsuits to federal court and away from state courts, which are considered to be more friendly to plaintiffs. Some are more friendly than others. For instance, take Alabama. From WBHM in Birmingham, Tanya Ott reports.
It's not easy being a bean counter. Not even if you're a superstar bean counter. That's the point Scott Sullivan's trying to make on the witness stand. Sullivan is former chief financial officer of WorldCom. He's testifying in the trial of his former boss. Bernie Ebbers is accused of orchestrating an $11 billion dollar accounting fraud which led to Worldcom's collapse. Sullivan says there was intense pressure to meet Wall Street's projections. And he says Ebbers told him to make the numbers live up to those expectations. Commentator and writer David Callahan says the testimony raises as many questions as it answers.
Argentina's economy may not be as bad as it was three years ago. But even so, many people there work two, or even three, jobs just to stay afloat. Marketplace's Americas correspondent Dan Grech reports.
Major League Baseball has declared today fantasy opening day...the start of the season for those countless fans who manage their own imaginary teams. Marketplace "business of sports" analyst Ed Derse explains.