Marketplace 7/25/2003

Newscast

* Today: Dow jumps 172.06 (+1.89%); NASDAQ soars 29.28 (+1.72%); S&P 500 flies 17.08 (+1.74%)
* California’s bond rating is dropped: it’s now more expensive to borrow, but its bonds are ripe for the picking
* What's the "cost" of sending troops to Liberia when defense resources are spread thin?
* Today, new claims for state unemployment benefits drop below 386,000, the first below-400,000 day since early February


Features
Music Bridge: Pre 63 - Groove Armada
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Surveying the stimulus in Wisconsin
Next week, top members of the president’s economic team are boarding a bus bound for points Midwest, a trip designed to show Americans just how well the stimulus plan is working. Marketplace’s Steven Henn was really hoping to ride along in style, but we bought him a ticket on Greyhound, instead. He checks in from Wisconsin and surveys whether locals are feeling any stimulus at all. The state has lost 66,000 manufacturing jobs in the last few years, and many residents aren’t feeling anything yet.
Reporter: Stephen Henn
Music Bridge: Trailways Bus - Paul Simon
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Week On Wall Street
Marketplace host David Brancaccio rounds up this week on Wall Street with Dallas stockbroker David Johnson.
Reporter: David Brancaccio talks with David Johnson
“Summer School” series - A primer on hostile takeovers
Remember those corporate raiders of the ‘80s that were practicing a business maneuver that was all the rage? Well, the hostile takeover is making a comeback. A hostile takeover goes against the wishes of the company’s management and board of directors. When the board turns down an offer; the would-be buyer goes to the shareholders and offers them more for their shares than the market value, thereby gaining a controlling share of the company. But companies can have a “poison pill” written into their bylaws: a way to change stock prices to make the company unattractive to a buyer. And, if they’re lucky, a “white knight” can come in to save the day with a friendly, better offer. Hostile takeovers represent fewer than 5% of acquisitions.
Reporter: Amy Scott
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Music Bridge: Die Valkyrie - Richard Wagner
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Glut of Seabiscuit merch a pain in Universal’s hoof
The movie “Seabiscuit” opens today, based on the true story of the scrappy racehorse that became an icon in the late 1930s. Even back then, a lot of people made money by sticking Seabiscuit’s image on merchandise. It’s happening again today -- but Universal Pictures is not going to get much of a share in the spoils. Why? So many Seabiscuit products are already out there: racetracks sell Seabiscuit hats, and unlicensed products from playing cards to oranges are available everywhere. In fact, Universal has only one licensing deal for the film: Breyer Animal Creations is selling Seabiscuit plush toys, stick horses and a collectible model.
Reporter: Kim Masters
Online resource
www.seabiscuitmovie.com: Official movie Web site
Music Bridge: Jockey Blues - Bill "Jazz" Gillum
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Monday On Marketplace...
Have you ever just wanted to quit your day job and start a business that really suits the way you want to live? On the next installment of our "Starting Over" series, we’re profiling entrepreneurs who’ve done just that.