This program is 28 minutes long
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(Studio: Dan Rather) The Federal Reserve Board's surprise half-point interest rate cut reported. Stock Market Report.
(Studio: Anthony Mason) The reaction of the market to the interest rate cut examined. [Wells Fargo Sung Won SOHN - says he wants to give Federal Reserve Board Chairman Alan Greenspan a hug.] [UBS PaineWebber Arthur CASHIN - says the markets are stabilizing.] [Prudential Securities Larry WACHTEL - says the worst has been seen.] [General Motors CFO John DEVINE - says more rate cuts may be needed.]
(Studio: Dan Rather) A decline in the leading economic indicators noted. Interview held with former Federal Reserve Board governor Susan Phillips. [PHILLIPS - says she thinks the economy is near the bottom if not at it; says weak earnings reports may have brought on the rate cut.]
#397675
(Studio: Dan Rather) Report introduced.
(Fountain City, WI: Bob McNamara) Floods in Minnesota, Wisconsin, and Iowa along the Mississippi River reported; scenes shown of flooded streets in Fountain City, WI. [Flood victims Stephen PROSSER, farmer Bill FITZGERALD, supper club owner Roger PANPLE, MAN, Dick HOBLESBERGER - comment on the flood.]
(Studio: Dan Rather) Report introduced.
(Davenport, Iowa: Cynthia Bowers) Prediction that the flooded river will crest in Iowa and Illinois reported; scenes shown of people preparing for floods in Davenport, Iowa.
#397676
(Studio: Dan Rather) Report introduced.
(Pentagon: David Martin) The first day of negotiations between United States and Chinese officials concerning a downed American spy plane on Hainan Island, China, reported; details given of a lack of progress in the talks, of threats by the Americans to call off the talks and the discussion of selling military equipment to Taiwan.
#397677
(Studio: Dan Rather) The investigation into the safety of the Osprey military aircraft after two accidents reported; details given of the decision to proceed but slow down with the production of the aircraft.
#397680
(Studio: Dan Rather) The re-entry of Israeli troops into Gaza reported.
#397681
(Studio: Dan Rather) The arrests of six people in Quebec over concerns that they planned to disrupt the Summit of the Americas held in Quebec City, Quebec, reported; scenes shown.
#397682
(Studio: Dan Rather) Report introduced.
(Houston: Byron Pitts) The growing popularity of the fad of backyard wrestling by teenagers emulating professional wrestling heroes featured; graphic video shown of backyard wrestling matches. [Backyard wrestler Justin SMITH - talks about injuries he and his friends have received.] [Loyola University Medical Center Dr. Joseph ZANGA - says a lot of teenagers wind up needing medical care.] [Smith's PARENTS - say they tolerate the wrestling.] [World Wrestling Federation Gary DAVIS - says professional wrestling moves should not be tried at home.]
#397683
(Studio: Dan Rather) Plans for President Bush to issue new standards for arsenic levels in water reported.
#397686
(Studio: Dan Rather) The vote in Mississippi to keep the state flag bearing a Confederate flag in one corner reported; threats from the NAACP (National Association for the Advancement of Colored People) to start a boycott reported.
#397687
(Studio: Dan Rather) Report introduced.
(Atlanta: Mark Strassmann) The federal court battle over an unauthorized sequel to "Gone With The Wind" that retells the story from the slave perspective featured; scenes shown from the movie "Gone With The Wind". ["The Wind Done Gone" author Alice RANDALL - explains things she learned from reading "Gone With The Wind".] [In 1939, actor Clark GABLE - praises author Margaret Mitchell.] [Mitchell estate attorney Thomas SELZ - comments on the new book.]
#397688
(Studio: Dan Rather) Plans for drug companies to settle a lawsuit against South Africa for its plan to provide low-cost versions of AIDS drugs reported.
#397690
(Studio: Dan Rather) The unveiling of a prototype of the X43-A hypersonic airplane reported; NASA (National Aeronautics and Space Administration) animation of the plane shown.
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