Marketplace PM for March 31, 2005
Baseball's Opening Day is Sunday, when the Boston Red Sox meet the New York Yankees to begin the season. Both teams are front-runners to win the World Series this year, and both have sky-high payrolls. Sports commentator Diana Nyad explains the connection.
Posted In: Wall Street
Remember the name Jack Grubman? The telecom stock analyst accused of touting AT&T so his kids could get into a swank pre-school? It was one of many stories about skewed stock advice from analysts who had a little skin in the game. These conflict-of-interest stories led to lawsuits. And huge settlements. One involved ten banks paying almost $1.5 billion. The biggest settlement in Wall Street history. A good portion of the money was supposed to go to investors, to compensate them for the fraud. But as Marketplace's Amy Scott tells us, almost two years later, investors are still waiting.
Posted In: Canada
Zimbabweans cast their votes today in a parliamentary election. We can safely project a winner. President Robert Mugabe and his party. This despite the fact that his country's economy is not what you'd call healthy. You may have heard of Mugabe's land reform program... The one to transfer farm ownership from whites to blacks. The scheme has been riddled with allegations of corruption. Still it looks like the President's managed to squeeze political profit out of this. Gretchen Wilson has the story.
To become a doctor, you spend so much time in the tunnels of preparation, that it's a shock. You find yourself at the other end with someone shaking your hand, asking how much money you want to make. That's how Atul Gawander begins his article for the New Yorker magazine. It's the story of a career turning point. After eight years as a resident in surgery - making $40,000 a year or so, came the fateful day. Gawander took a seat in the wood paneled office of the chairman of surgery at a Boston hospital. Congratulations, Dr. Gawander, you're a now surgeon with a staff position, he said. Now how much shall we pay you?