May 23, 2012

Marketplace Morning Report for Wednesday, May 23, 2012

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If you're looking for a safe place to park your money,  think Ford. Moody's has boosted the automaker's debt to investment-grade, giving a thumbs up to a long financial turnaround for the company. Today, struggling tech giant Hewlett-Packard will announce…

Segments From this episode

Shareholders sue Facebook and banks over IPO

May 23, 2012
On the fourth day of Facebook public trading, shareholders sued the company, Mark Zuckerberg, as well as several banks that underwrote the deal.

Moody's upgrades Ford debt

May 23, 2012
Six years ago, Ford lost billions when SUV sales stalled. It borrowed billions, and put up factories and its famous trademark as collateral. After a major restructuring, the automaker has earned an investment-grade rating from Moody's.

Euro leaders to meet at 'informal dinner' to discuss debt crisis

May 23, 2012
In Brussels this evening, leaders from euro zone nations are meeting in a casual setting to discuss and formulate policy solutions to the European debt crisis ahead of a formal summit.

Lawsuit claims Facebook hid revenue forecast reduction

May 23, 2012
The shareholder lawsuit against Facebook and its banking partners argues they made a "severe and pronounced reduction" to the company's revenue projects days before the initial offering but hid it from the public.

Chipotle under investigation for immigration law violations

May 23, 2012
Shares of Chipotle Mexican Grill dropped about 2 percent yesterday, after the company announced that federal prosecutors are investigating the company's compliance with immigration laws in its hiring practices.

PODCAST: Chipotle under investigation, OECD's happiest country

May 23, 2012
If you're looking for a safe place to park your money, think Ford. Moody's has boosted the automaker's debt to investment-grade, giving a thumbs up to a long financial turnaround for the company. Today, struggling tech giant Hewlett-Packard will…
A sculpture is exhibited as part of the 'Animals On Bikes' tourist trail in Cumnock, Australia. This week, Australia took the top spot on the OECD's ranking of national well-being, making it the world's happiest country.
Lisa Maree Williams/Getty Images

Should Washington act to prevent a 'fiscal cliff'?

May 23, 2012
The non-partisan Congressional Budget Office released a study yesterday warning of a U.S. recession if lawmakers let the Bush-era tax cuts expire and enact a round of automatic spending cuts -- allowing for a 'fiscal cliff.'

States consider labeling GMO foods

May 23, 2012
Polls show more than 90 percent of Americans would like a label on food made with genetically modified crops. The Food and Drug Administration has declined to require GMO labeling, but 20 states are taking matters into their own hands.

Hewlett-Packard expected to unveil layoffs

May 23, 2012
Hewlett Packard is expected to announce thousands of layoffs today. But highly skilled tech workers may not be out of work for long.

Egyptians cast votes for first president since Mubarak

May 23, 2012
After forcing President Hosni Mubarak from office in the Arab Spring uprising last year, Egyptians are lining up today to vote for their next President. Local businesses hope the election will boost tourism to Eygpt.

What to do with your kids this summer

May 23, 2012
With Memorial Day coming up on Monday, we've reached the unofficial start of summer -- which means a lot of kids are going to have a lot of free time on their hands. So what's the best use of that…

Target sells gay pride T-shirts online

May 23, 2012
Target, two years since contributing to a politician opposed to gay marriage, is selling Pride t-shirts and passing the proceeds on to a pro-gay group.
Target, two years since contributing to a politician opposed to gay marriage, is selling Pride T-shirts and passing the proceeds on to a pro-gay group.
Scott Olson/Getty Images

Facebook: Part of the insider's financial club?

May 23, 2012
What did the Morgan Stanley know about Facebook, when did it know, and who did it tell? Shareholders prepare to sue the bank and Facebook over how the public offering of stock was handled.

Average wedding price climbs over $27,000

May 23, 2012
According to a recent survey by TheKnot.com, the average wedding in the U.S. now costs over $27,000. But Americans aren't the only ones throwing their money towards the perfect nuptials.

If you’re looking for a safe place to park your money,  think Ford. Moody’s has boosted the automaker’s debt to investment-grade, giving a thumbs up to a long financial turnaround for the company. Today, struggling tech giant Hewlett-Packard will announce whether the company will shed tens of thousands its workers. With Memorial Day approaching, parents begin to consider summer plans and the value of camp for their kids. This week Target launched a line of Gay Pride T-shirts on its website in time for Gay Pride month in June which may help mend fences between the retailer and the gay community.

The team

Stephen Ryan Producer, BBC

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