Marketplace PM for June 1, 2005
The federal government is checking out 33 complaints that the 2004 and 2005 Prius models shut down when driven between 35 and 65 mph. Dennis Simanaitis with <i>Road and Track Magazine</i> says finding the problem will be like a high-tech detective game given the complexity of the gas-electric hybrid.
Readers of the <i>Chicago Sun-Times</i> woke up to a new look in the paper's business section this morning. As of today, the Sun-Times will no longer print the daily stock tables that traditionally have listed the closing prices of thousands of company stocks and mutual funds. Instead, the paper's giving a two-page synopsis in its print edition while offering expanded coverage of stocks, mutual funds, bonds, and such in its online edition. Marketplace Business Editor Cheryl Glaser reports on the initial response.
The National Association of Realtors reported last week that sales of existing homes reached a record in April — an annual rate of 7.18 million sales — and the median price of a home shot up 15.1 percent from a year earlier. It's the biggest jump since 1980. All this might sum up to be a housing bubble; Marketplace commentator Robert Reich suggests how to prevent it from bursting.
Posted In: Canada
Today is Children's Day in China. Due to worries about who will support the graying population, some cities have started allowing couples who are both only children to have two kids. But after 25 years of encouraging couples to have just one child, they're finding it's not that easy to turn back the clock. In Shanghai, the local-born population has been shrinking faster than anywhere else in China.
A congressional study released today blasts drug companies and the agency that regulates them. The report says the pharmaceutical industry is abusing the system for quick approval of new medications; John Dimsdale reports from Washington.