05/09/05
Marketplace PM for May 9, 2005
Episode Description:
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Starbucks & libraries
McDonald's is lovin' it. The fast food giant said today its sales jumped 2.8% last month. Part of the reason--the new stronger coffee Mickey D's is dishing up for breakfast. Specialty coffee has also been a big draw for bookstore chains like Borders and Barnes & Noble. That's helped siphon business away from many libraries. But now some libraries on the outskirts of Chicago are taking a page out of that playbook. Borzou Daragahi reports:
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NYSE liquidity
The planned merger between the New York Stock Exchange and the electronic trading firm Archipelago is being challenged in court. A retired broker named William Higgins--who owns an exchange seat--says he and other seat owners should be getting more cash out of the deal. He's accusing NYSE execs of "grossly undervaluing" the exchange. Meanwhile the man behind the deal--NYSE chief John Thain--said today the lights on the exchange's famous floor won't be going out anytime soon. Marketplace's Bob Moon has that story:
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MFA vs MBA
Business schools will be launching their graduates into the real world over the next few weeks. Fed Chairman Alan Greenspan speaks at Wharton's commencement this Sunday. Pepsico's president will do the honors at Columbia Business School next Wednesday. General Electric's CEO Jeff Immelt shares his thoughts with the graduating class at the Harvard Business School in June. These stars are all at the top of their game. But commentator Dan Pink says an MBA won't necessarily get you there:
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Ameritrade merger
E-Trade's in talks about a possible merger with rival Ameritrade. The price tag... more than $5.5 billion dollars. Sounds like a perfect marriage. If the two companies got together, they'd barely even have to change the letterhead. But there's more to it than just cutting down on printing costs, according to reporter Dennis Berman of the Wall Street Journal:
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Post foster care
May is National Foster Care Month. The foster care system is supposed to care for children who are abused or neglected or whose parents can't care for them. But a recent study of foster care alums finds many end up hurt by the system that was supposed to protect them. And once they turn 18, they're on their own--often without the skills they need to fend for themselves. The damage takes both an emotional and economic toll. Marketplace's Hillary Wicai reports from the work and family desk:
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