Marketplace PM for July 13, 2005
The largest business fraud in U.S. history brings one of the strongest penalties yet against a corporate executive: 63 year old Bernard Ebbers has been sentenced to 25 years in prison for his role in WorldCom's $11 billion accounting fraud. Marketplace's Bob Moon has more.
Today Chief Justice William Rehnquist did not show up at his office; reporters were told he's been admitted to a local hospital for observation. It's been widely speculated Rehnquist's fight with thyroid cancer might lead to his resignation. Meanwhile, arguments about the seat being vacated by Sandra Day O'Conner are already under way. Scott Tong reports.
Companies routinely project pension funds will generate far more dollars they they really do. Makes company books look sharp. But for workers and institutional investors, it does seem like a bit of a raw deal, doesn't it? Marketplace commentator Robert Reich looks at pension funds.
The NHL and its skaters have reached an agreement in principle in the labor dispute that forced cancellation of their entire season. Tess Vigeland talks with host David Brown.