- Making News: Grocery Strike Costs Safeway $100 Million
With negotiations back under way in Washington to end Southern California-s four-month old grocery strike, Safeway announced a fourth-quarter loss of $700 million today, with $103 million in after-tax profits wiped out by the strike and lockout. David Greenberg of the LA Business Journal reports on this morning's conference call between Safeway CEO Steven Burd and market analysts.
- Reporter's Notebook: Comcast Bids for Disney
Comcast cable is making a bid to merge with Walt Disney, despite the opposition of Michael Eisner. The hostile offer has completely overshadowed Eisner-s announcement of bigger first-quarter earnings than had been expected. We hear what Comcast's bid could mean for entertainment -- and Eisner -- from a former Disney board member, an expert on telecommunications policy, and a media and entertainment analyst. (This segment was aired earlier today, in its entirety, on To the Point.)
The FCC today began writing new rules to change the way the Internet is delivered and used. They-ll make it possible to plug modems into electrical wall sockets, and allow computers to send and receive telephone calls.
Feds Issue Indictments in Steroids Investigation
In his State of the Union speech, President Bush called on coaches and executives to get serious about illegal drug use in professional and amateur sports. Today, the IRS, FDA and Justice Department unveiled criminal indictments involving associates of some big name athletes, including the personal trainer of baseball star Barry Bond. He and three other men are accused of conspiracy to distribute steroids, possession of human growth hormone, and misbranding drugs with intent to defraud. We hear who's involved and what the upcoming trial could mean for professional-and amateur-sports.