Marketplace PM for February 23, 2005
What do you think of when you imagine troops arriving back home from tours of duty in Iraq? Judging from pictures of some of them returning this week... there's lots fanfare... balloons... big hugs and lots of kisses. That's all well and good but there's something else a lot of the returnees are facing... a financial ambush. Alison Saint John reports from the Camp Pendleton Marine Corp base outside of San Diego.
Martha Stewart Living Omnimedia released its fourth-quarter earnings report today -- not a good thing. Martha Stewart, convicted felon, is scheduled to be released from prison next week -- a good thing, at least for her. Now... Martha the company is having trouble with the recipe for financial success. Wall Street seems convinced that having Martha, the person, back in the kitchen will fix everything. Marketplace's Bob Moon reports some analysts would rather order takeout.
The biggest split since Brad and Jen is about to hit Hollywood. From all reports Miramax studio chiefs Harvey and Bob Weinstein are breaking off from the Walt Disney company. Disney bought Miramax 12 years ago. The separation may be official by the end of this week, just in time for the Academy Awards. Ian Mohr covers Miramax for the industry bible Variety...
We spent some time scratching our heads today over the latest news from Hershey's. It seems candyland wants to change its name. From Hershey's Food Corp -- to, ok, are you ready for this -- Hershey Co. Marketplace's Lisa Napoli takes a bite.
President Bush continued to wend his way through Europe today. At Weisbaden Army Airfield in Germany he told U.S. troops who'd served in Iraq that America stands with them. He's on what many see as a fence-mending trip to ease tensions over the Iraq war. But Marketplace commentator Robert Reich argues the real action is taking place in another part of the globe entirely.
While he was in Germany President Bush used a photo-op with Chancellor Gerhard Schroeder to reassure European allies that the U.S. is not planning to attack Iran over its nuclear weapons ambitions. Just weeks ago the Administration pressured the subsidiaries of two major U.S. companies to leave Iran and urged European companies to reduce their presence there. That may have caused a few rumblings on the ground. But as Borzou Daragahi reports... so far no one's rushing to pull up stakes.