Add this to the laundry list of worries for corporate America right now.
Paul Kangas is off tonight. A setback today for Martha Stewart. Former Merrill Lynch assistant Douglas Faneuil said he illegally passed on a secret stock tip to Stewart just before she sold her shares of ImClone. Faneuil described a conversation he had with Stewart in late when she asked him what was going on with Sam Waksal and ImClone.
He is the case. Prosecutors charge that Stewart and Bacanovic lied to investigators to hide questionable details about the ImClone sale. Faneuil went on to detail how Bacanovic, in the weeks following the ImClone sale, pressured him to support two separate explanations for the trade.
The judge also allowed the defense to question Faneuil about his use of drugs. The remaining big question in all of this is whether Martha Stewart will take the stand. Experts say in celebrity trials, in particular, the jury is anxious to hear the celebrity tell her side of the story.
But centrist Democrats believe voters who look closer will find a Clinton- moderate. They are going to learn he is pro-growth, that he is pro-fiscal discipline, that he wants to maintain tax cuts for the middle class. As the former chairman of the Senate Committee on Small Business, Kerry has also shown a special concern for manufacturing.
He has been a strong proponent of the new economy, of investments in innovation, the idea that innovation is now what is really going to fuel robust growth rates, and help generate the high paying jobs.
So far, markets have paid little attention to specific Kerry policies, says conservative political analyst Stuart Sweet, but that could change. Sweet helped organize the Republican convention.
He expects Kerry to bounce ahead of Bush in the polls after the Democratic convention in Boston. Overall, Sweet calls Kerry a centrist to left-of-center Democrat. He has not been at the forefront of many of the large fiscal fights. Well, the Dow appeared gridlocked itself today, although tech stocks were swept lower.
Bond prices weakened, with two reports suggesting a strengthening U. Oracle calls this its final price. The higher offer is the second time that Oracle has sweetened its bid for the rival software firm since launching its original offer last June. PeopleSoft says its board of directors will consider the offer.
It has previously rebuffed Oracle, saying it undervalued the company. I think we had an outstanding fourth quarter and a really powerful We delivered real solid earnings, great cash flow, and a significant increase in revenues.
And the most important thing is that we did all of this while we were integrating TRW, paying off an awful lot of debt, and helping to sell the automotive piece of TRW which we acquired.
Well, we had strong performance as a result of the organic growth of our existing Northrop Grumman businesses. Ships did extremely well, for example. We also had significant benefit from the new TRW sectors in space and our missions systems sector.
Is that going to be something that Northrop Grumman is having to catch up on? Where is this coming from, this particular charge? Now you talked about integrating the TRW side of the company. Do you feel like the company is pretty much past that, or is there still more work to go in terms of bringing them into the company in a significant way?
But all the management, financial reporting, operating, signage, all the things that are associated with integration, are behind us now. And as you were bringing up some of these: Well, certainly the DDX program is the future for the Navy in terms of its surface combatants.
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These will replace the existing class of Arleigh Burke destroyers and guided missile cruisers over time. We are the prime contractor, so we have the majority of activity there. With respect to some of the other programs, a future combat system, we have nearly a half a billion dollars of initial work on the future combat system, as a partner with Boeing BA and SAIC Corporation.
We see that being a significant growth area as well.Jay R. Ritter. Joseph B. Cordell Eminent Scholar Chair.
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tv Nightly Business Report PBS June 11, pmpm PDT pm this is "nightly business report" with tyler mathisen and susie grigg. >> triple digit decline. the dow drops as the world bank warns global growth will be slow.
but are americans more upbeat about the u.s. webkandii.com://webkandii.com /KQEH___Nightly_Business_Report.