Iraq death toll



Download 1.35 Mb.
Page44/103
Date20.10.2016
Size1.35 Mb.
#6073
1   ...   40   41   42   43   44   45   46   47   ...   103

Financial Woes

This week on Wall Street: More financial worries

By MADLEN READ, AP Business Writer 41 minutes ago

NEW YORK - Wall Street enters the new week filled with trepidation about what lies ahead for the financial sector.

Late Sunday, investors were still waiting to learn the fate of foundering Lehman Brothers Holdings Inc., there were reports that Bank of America Corp. and Merrill Lynch & Co. might merge and insurer American International Group Inc. appeared on the verge of a huge restructuring. Meanwhile, U.S. and foreign banks were working on a plan to cushion the global banking system from Lehman's possible failure, a top investment banking official said on condition of anonymity because the discussions were ongoing.

However all the developments turned out, it was clear that the financial system still had much work to do before it could be considered healthy. And a stock market that has stumbled continually over the industry's troubles looked to be in for at least a rocky start when trading resumed Monday — it was clear that investors' confidence in financial executives' ability to clean up their books is still falling.

Meanwhile, some of the biggest financial institutions — including Goldman Sachs Group Inc. and Morgan Stanley — are scheduled to post quarterly results this week.

Goldman and Morgan Stanley are expected to report declines in quarterly profits amid the continuing problems and losses in the credit markets. Lehman already said last week it would post a hefty loss, and Wall Street is hoping for more details.

"Our financial institutions are suffering. I don't think we're at the end of the tunnel yet," said Christian Menegatti, lead analyst for the economic and financial Web site RGEMonitor.

The stock market has been absolutely frenetic lately, as a simple chart of the Dow Jones industrial average's jagged, back-and-forth moves shows. One moment, investors might be cheering — as they did last Monday for the Fannie Mae and Freddie Mac takeover. But the next moment, they are cashing out.

After rising nearly 300 points on Monday, falling by that much on Tuesday, and then seesawing for the rest of the week, the Dow ended the week up 1.79 percent. The Standard & Poor's 500 index rose 0.76 percent, while the Nasdaq composite index rose 0.24 percent.

There are plenty of other issues for the market to deal with this week.

The Federal Reserve meets again to discuss monetary policy. The market expects the Fed to stand pat on interest rates when it meets this Tuesday. Investors will carefully parse policymakers' assessment of the economy to see if the central bank's concerns about inflation have abated. If they have, market participants might start betting that the Fed will keep rates steady well into next year, or perhaps even cut them again, before raising them again.

Back when oil prices were surging, some investors were anticipating a rate hike by the end of the year. Between the summers of 2007 and 2008, the key federal funds rate has been lowered to 2 percent from 5.25 percent.

Economic data could also return to the forefront this week, as investors wonder whether the consumers are getting some relief from a pullback in fuel prices.

The Labor Department is expected to report a 0.1 percent increase in consumer prices, according to the median estimate of economists polled by Thomson/IFR. Core consumer prices, which strip out energy and food, are expected to rise by 0.2 percent.

The Commerce Department is expected to report that housing starts fell to 950,000 units in August from 965,000 in the previous month.

Other major companies reporting earnings this week include electronics maker Best Buy Co., food company General Mills Inc., shipper FedEx Corp. and software maker Oracle Corp.


Tim Russert?


Luke Russert gets into family business as reporter

By DAVID BAUDER, AP Television Writer Sun Sep 14, 3:06 PM ET

NEW YORK - The reporter who sat across from John McCain and Barack Obama for separate interviews that aired on NBC's "Today" show Friday was only 23.

"Not necessarily," Luke Russert said. "I had prior relationships with both of them."

He asked both Obama and McCain about whether community service should be mandatory for young people. They said no, but both presidential candidates said the United States missed a real opportunity to teach citizens about sacrifice following the 9/11 terrorist attacks. Matt Lauer debriefed him about the interviews.

No one would have figured on seeing a Russert on the "Today" show this political season following the shocking death of Luke's dad, Tim Russert, of a heart attack on June 13.

Offered the chance to report on youth issues for NBC News, the gregarious young Russert dove into the assignment with gusto, toting a microphone backstage at the Democratic and Republican conventions. Many of his stories have appeared on the "Nightly News" Web site and he blogs about his experiences on iCue.com

"He's one of the rookies of the year," said NBC News President Steve Capus. "Here's a man at the worst possible time in his life who stepped into the spotlight with great poise, strength and a sense of humor, with a love of politics and a love for NBC."

Would a young man at his age and with his credentials secure such a high-profile job if his last name wasn't Russert? Doubtful, of course. But NBC News might be expected to act paternally toward a person its employees watched grow by the side of its beloved Washington bureau chief and "Meet the Press" host.

He often accompanied his dad on assignments ("as a 10-year-old I was as tall as Ross Perot," he recalled), riding McCain's "Straight Talk Express" during the 2000 primary campaign and meeting Obama at a forum on public service in 2006.

But it's not as if Russert didn't bring something to the table. The recent Boston College graduate has worked in media since he was a teenager, co-hosting a sports talk show on XM satellite radio with political consultant James Carville. Before his father died, he had already lined up a job covering the presidential campaign for another XM station. He chose to go to NBC when it offered more exposure.

The Russert name also undoubtedly helped land last week's interviews with the two candidates, particularly important since many McCain supporters have been seething about NBC News. In small talk before the interview, McCain said how much he wished Luke's father was covering the election. Obama hugged him and asked how he was holding up.

"Everybody in the political world knows Luke Russert," Capus said. "They knew him before (his father's death) and they know him after it. Here is a guy who is going to get his calls returned."

Capus said he had a couple of gut-check talks with the young Russert, aware that it could appear NBC News was adding pressure to his life by making him subject to whispers that he was getting ahead through nepotism. Capus didn't think it would be a problem, since he was getting a limited assignment, not his dad's host slot on "Meet the Press."

Russert's certainly aware that people would be watching him closely.

"It's extremely important to go to work each day knowing you're going to leave it all out on the field, to use a sports analogy," said Russert, who shares his father's love for the Buffalo Bills.

"The last thing I want to do is appear not qualified, to appear that it was just a nepotism hire, to appear that everything was just handed to (me)," he said. "I certainly acknowledge that the last name doesn't hurt. But at the end of the day I don't think a company like XM or NBC would be willing to spend money on me just for the sake of nepotism. I actually have to produce."

From the time he dreamed of being a "SportsCenter" anchor at age 10, Russert figured he'd go into the family business. His mom, Maureen Orth, writes for Vanity Fair. Dinner table conversation would be about school and friends, but also about the Contract for America.

At the Democratic convention, Russert found three young Muslim women for a story about their support for Obama, and found young Republicans in St. Paul. Much of his material appears online, partly because he claims no interest in joining the often cutthroat fights for airtime among experienced reporters.

His blog allows for a more opinionated outlook. After watching McCain deliver his convention speech, Russert wrote that the candidate "reminded me of the old war vet you meet at a bar who tells you his life story and then says something along the lines of: `Son, make this country better for us.'"

Most important is that he's out hustling at a time in his life that many in his situation might retreat to their rooms, closing the door behind them. He believes hard work is the best cure for misery.

"It keeps your mind off of a tough event," he said. "If you're busy, you don't sit and think. It's important to think, it's important to reflect on a tragic event. But I also think it's important not to harp on it all day. One has to go on and live their life as best they can and take the lessons from those lost and go forward."





Download 1.35 Mb.

Share with your friends:
1   ...   40   41   42   43   44   45   46   47   ...   103




The database is protected by copyright ©ininet.org 2024
send message

    Main page