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The week that was on Wall Street
Sep 1, 2007
Time to check the week on Wall Street with stockbroker and business analyst David Johnson in Dallas.
John Steele Gordon on the history of the NYSE
Sep 22, 2011
Today, an electronic stock trading company called Instinet made it official, announcing they'll merge with Nasdaq. There'd been lots of talk this might happen, but as market mergers go, few expected NASDAQ would be beaten to the punch by the New York Stock Exchange. On Wednesday the NYSE announced a new partnership with electronic trading firm Archipelago. The deal brings together the last of the major old-style auction markets with an all electronic market.<br />John Steele Gordon is an author and business historian. We asked him if these mergers will really fundamentally change Wall Street...
Handing out invitations to the stagflation party
Sep 1, 2007
With energy prices high, a rising deficit and a sluggish economy, Wall Street's abuzz with rumors of impending stagflation. Host Kai Ryssdal spoke with Marketplace Economist Chris Farrell to find out what exactly stagflation is... and what, if anything, the government can do to stop it.
Intel has a new CEO, and new profits
Sep 1, 2007
One of those profit reports came out after the bell - from Intel. The chipmaker reported it made a 34 cents a share last quarter, up 25 percent from last year thanks in part to strong demand for its semiconductors in notebook PC's. That sent shares of Intel higher in after-hours trading. If should also make life easier for the company's new CEO, who moves into the corner office next month. Reporter Adam Lashinsky's been scoping out the situation and writes about it in the current issue of "Fortune Magazine".
Phillip Purcell won't leave Morgan Stanley
Sep 1, 2007
Once upon a time there was a magical investment bank called Morgan Stanley. It made lots of money giving advice on corporate mergers and helping companies sell new stocks and bonds. But then some former executives decided they didn't like CEO Phillip Purcell, and they asked him to leave.Mister Purcell said no.So several of Morgan Stanley's big dealmakers quit. Here's where it starts to get scary. 200 pensions funds are now calling for a meeting--as early as this week--to talk about the company's future. The drama all dates back to 1997 when Morgan Stanley hooked up with the humdrum Dean Witter, which made some of its money selling mutual funds at Sears. David Wells of the Financial Times says this is one case where Cinderella's prince may have turned into a frog.
The week that was, on Wall Street
Sep 1, 2007
Forday means it is time to check the week on Wall Street, with stockbroker and business analyst David Johnson in Dallas.
The Lexis-Nexis security breach, was bigger than you thought
Sep 1, 2007
An unsettling disclosure from Lexis-Nexis, one of the nation's largest brokers of personal data. Last month, the company reported criminals might have tapped the personal records of 32,000 people. Today the company said the figure is really closer to 10 times that number. About 310,000 personal files. From Washington, Marketplace's Rachel Dornhelm reports.
Hank Greenberg and Eliot Spitzer take the stage
Sep 1, 2007
Hank Greenberg, deposed head of insurance giant AIG, is scheduled to testify before Eliot Spitzer and other regulators today. Greenberg was in the news yesterday for another reason, too-he stepped down from the boards of The American Museum of Natural History and the Asia Society. As Alisa Roth reports, some other institutions may be getting nervous. Elliot Spitzer has become the boogey man in the nightmares of America's corporate leaders. But commentator Matthew Bishop wonders if New York's crusading attorney general should really be the one to keep them on their toes.
Tax Day - the clock is ticking
Sep 1, 2007
Just three more days 'til Tax Day. And folks who haven't filed yet may be in for a little surprise this year. For the first time since 1986, filers have the option of deducting sales taxes on their returns. From South Dakota Public Radio, Curt Nickisch reports. Attorney and commentator Conrad Teitell has seen taxpayers claim some odd deductions over the years. Some, he says could make you even sympathize with the IRS.
Former AIG leader steps down from other posts
Sep 1, 2007
The Oracle of Omaha was in Manhattan today. Warren Buffett spent the day answering questions from regulators.Buffett's not suspected of wrongdoing.But investigators do want to know more about some deals. Some transactions between a unit of Buffett's Berkshire Hathaway and insurance giant AIG. Tomorrow, the former head of AIG gets his chance to answer investigators' questions. We're hearing he won't have much to say. Published reports say Hank Greenberg will take the fifth.After almost 40 years at the helm of AIG, Greenberg's on his own. In recent weeks, he's been forced to sever all ties with the company he built up.And now Greenberg's stepped down from the boards of two important cultural institutions. Alisa Roth reports from New York.
