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Marketplace PM for January 18, 2005

Episode Description 

For shame!

Jury selection began today in the retrial of two former top executives at Tyco International. They're charged with looting the company of $600 Million to underwrite their lavish lifestyles. Next week: opening statements in the trial of WorldCom's ex-chief Bernard Ebbers. He's accused of orchestrating accounting fraud at the company. Ten ex-directors of Worldcom are trying to settle a separate shareholder lawsuit. They've also had to suffer the indignity of being singled out in print in virtually every major newspaper across the country. Commentator and lawyer David Skeel thinks shareholders are on to something...

When money means trouble ...

Today the United Nations lifted a travel ban on workers distributing aid in Indonesia's Aceh province. The area was closed off after reports of fighting between separatist rebels and the government. Now that aid workers are flowing back in, so is the cash the agencies spend to buy supplies and set up shop. You'd think that would be good for a devastated economy, but as Marketplace's Jocelyn Ford reports, the sudden influx of money can make matters worse.

The Krispy Kreme blues

Krispy Kreme is facing an accounting investigation and shareholder lawsuits, and a possible default on a $150 million credit line. What to do? Today CEO Scott Livengood got dunked. In steps replacement Stephen Cooper. Mr. Cooper is no ordinary executive: he is what's know as a turnaround specialist. Norm Bartzak teaches at Columbia's Business and Law Schools, and he's been following the dough at Krispy Kreme...

Brussels Clout - Calling the shots

We told you yesterday it would happen. Today, at a ceremony in Toulouse, France, the European Airbus consortium unveiled the the A380. It will be the world's biggest passenger jet. The leaders of France, Spain, the UK and Germany were there, the latter noting "Good old Europe has made this possible". A barb for the U.S.? We are noting how Europeans are taking charge commercially, in our series Brussels Clout. Today, in a collaboration with the Center for Investigative Reporting, Marketplace's Alisa Roth shows how Europe intends to call the shots for some American companies through a sweeping regulation of the chemical industry.