Marketplace PM for March 8, 2005
The fate of hundreds of small businesses hangs in the balance. These are money transmitters, often used by immigrants to send money back home. These businesses move about $45 billion a year around the world. Today in Washington, owners of several of these businesses were meeting with banks and federal regulators... basically begging for a chance to survive. As Ashley Milne-Tyte reports, it's not that they've done anything wrong. It's that some worry that they could.
Michael Chertoff has some prep work for a hearing on Capitol Hill tomorrow. The new Homeland Security chief will go before a Senate panel to defend the President's budget request. The plan is to spend $41 billion on homeland defenses, including intelligence. Commentator Bob Herbold wonders if it might not be more intelligent to think about how to save billions, first.<p>Bob Herbold, is former chief operating officer at Microsoft and author of The Fiefdom Syndrome.
Posted In: Canada
It's one thing to resign...and hope the boss will beg you to stay. But Carlos Mesa seems to be testing the limits of this strategy. Especially considering that he's the boss. On Sunday, he tendered his resignation as President of Bolivia. It was his response to months of street protests and highway blockages. Many are upset over Mesa's plans to let foreign companies tap Bolivia's natural gas reserves. Today a question before Bolivia's lawmakers. Should we beg Mesa to stay? From the Marketplace America's Desk at WLRN, Dan GRETCH reports.
"If a frog had side pockets, he'd carry a handgun". Or how about... "this race is hotter than a Times Square Rolex". They call them Ratherisms. Dan Rather's Texas-fried observations from the CBS anchor chair. Tomorrow night, after 24 years, he's leaving the post. And under something of a cloud. CBS was grooming John Roberts to take Rather's place. But Steve Battaglio of TV Guide tells us someone else is slipping into the big chair...
Posted In: Canada
It's been going on for almost a year now. And no-one on the outside knew about it until this week. A secret investigation. Israeli officials call it the biggest money laundering case in the history of the state. Yesterday officials froze $376 million in assets at Israel's largest bank. Bank Hapoalim. Two dozen current and former bank employees have been arrested. And businessmen from all over Europe face questioning. Nancy Updike tells us what's known so far...