Marketplace PM for February 21, 2005
New York City rolled out the welcome mat this week. It was the opening volley in a four-day sales pitch to delegates of the International Olympic Committee. On the heels of a snowstorm the city will try to convince the IOC that the Big Apple should host the 20-12 summer games. It's a ritual also playing out in Paris, Madrid, Moscow and London. The New York City bid committee is spending millions to wow its guests. Olympic historian David Wallechinsky says this is just the beginning.
You may remember hearing last week about a significant cyber-security breach at a company called ChoicePoint. ChoicePoint is a clearinghouse of 19 billion public records on people across the country... including credit ratings, drivers license and social security numbers. At first the problem appeared limited to consumers here in California -- then we found out no, Californians only knew about it first because of a state law requiring they be notified. Today the company said the security breach - which happened in October - affected residents in all 50 states, the District of Columbia and three U.S. territories. Marketplace's Lisa Napoli reports.
It's unsettling enough to know that your personal information can be stolen from a company here in the U.S. But more and more companies are processing that same data at I-T centers in other countries. Call it information-outsourcing... it's especially big-business in countries like India. And the security concerns grow once all that stuff leaves U.S. shores. Miranda Kennedy reports on the tough job of making sure information doesn't get highjacked on the road from Boston to Bangalore.
Consumer electronics chains in particular could use some extra business from the current Presidents' Day sales. Last week Circuit City announced it's closing 19 superstores. And old school retailer RadioShack cut its profit forecast. But like its former spokewoman and newly desperate housewife Teri Hatcher... RadioShack is working on a comeback. Marketplace's Cheryl Glaser reports.
Today's a day off for many, in observance of President's Day. But at least two former presidents are on the job. Bill Clinton and George H.W. Bush are in southeast Asia - wrapping up their tour of areas hit hardest by the December tsunami. Shortly after the disaster the current President Bush tapped them to help organize U.S. relief efforts. Former President Jimmy Carter is arguably as well-known for what he's done since being president as for what he did as president. Author and Marketplace commentator Sandra Tsing Loh is using her time off today to reflect on our presidents, their work post-Oval Office, and her own jobs over the years.