Marketplace PM for January 17, 2005
Ladies and gentlemen of the jury -- it's corporate trial time. This week Bernard Ebbers heads to court for jury selection in his trial as the former head of WorldCom - where an $11 billion accounting fraud led to a huge bankruptcy. And Dennis Kozlowski's back. The former CEO of Tyco and his right-hand CFO Mark Swartz (pictured) return to face grand larceny charges after the first trial last year ended in a mistrial. Joining us now to re-live those good old days is Eric Talley. He teaches corporate law at the University of southern California.
The Tyco case is in Manhattan's state supreme court. New York is among 38 states where judges get elected. We've heard a lot about all the money spent on political races last year... turns out big money is being poured into judicial races as well. If money can corrupt the political process what can it do to the independence of the courts? One of last year's nastiest judicial campaigns took place in West Virginia. Today the winner is participating in an inaugural ceremony. William Kistner of American Radio Works followed the campaign and reports on what it portends for the future of the American Judiciary.
Commentator Sandra Tsing-Loh tries to figure out if it's better to live in a neighborhood with low property taxes - where you'd want to send the kids to private school - or to live with high property taxes and good public schools.
So far the holiday celebrating the remarkable contributions of Dr. Martin Luther King Jr. has, thankfully, avoided the fate of becoming an excuse for retailers to roll out low-low prices. But today, like any Holiday, will be used by many of you to run a few errands. If you happen to swing by one of those big suburban blue and yellow IKEA stores that seem to be popping up all over the place, Reporter Matt Holzman wants you to keep an eye out for a particular type of shopper. Here's a hint...they may be a little teary-eyed.