Marketplace PM for October 19, 2004
The scene: Delaware chancery court. The cast: Disney CEO Michael Eisner, former Disney president and super-agent Michael Ovitz, and other sundry Hollywood moguls. Shareholders of Walt Disney Company are suing the Happiest Place on Earth and its board of directors over the $140 million severance package Ovitz took with him in 1996. That's when Eisner fired him, after just 14 months on the job. Despite the cleanly drawn characters this is all about the rules of corporate governance. Jeff Horwich reports on who will pay if the judge sides with investors.
Insurance companies may be wishing this week that they'd bought more of their own product. The investigation into kickbacks and bid-rigging within the insurance industry expands by the day and has prompted the biggest stock market selloffs of the last two days. The states of California, Pennsylvania and Connecticut have joined New York attorney general Eliot Spitzer in his excavation of industry e-mails and documents. What exactly are they doing? For some answers we turned to Jim Cox - a professor of corporate and securites law at Duke University...
Two elimination games on two nights, both of historic length. Both keeping fans up way past their bedtimes. As employees in New York and Boston drag themselves to the office, we take a look at how the late night post-season is affecting the East Coast's workforce.
Taxes have been one of the hottest issues in this year's presidential campaign. Who will really pay more under the Bush and Kerry plans? And how will the middle class be affected? In the second installment of our "Ballot Bucks" election series, Marketplace's Scott Tong makes sense of the candidates' tax proposals.
Posted In: Canada
There's a new front in the Israeli and the Palenstinian struggle. It's located in the boardroom of an American church. The Presbyterian Church USA is talking about withdrawing its investment money from companies that operate in Israel. The church opposes many of the Israeli government's policies in the West Bank and Palestine. The National Council of Churches meets tomorrow to discuss the divestiture movement with Jewish leaders. Marketplace foreign editor Karen Lowe reports.