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Good News, Bad News, No News

Bankopalypse, Drilling, and Anchovies

John Moe

Angela Kim

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Wall Street tries to stabilize after meltdown
(Photo by Spencer Platt/Getty Images)

1. Bankopalypse

It's been a rough week if you have or would like to have money ever. Or if you participate in the economy in any way. Lehman Brothers declared bankruptcy, Merrill Lynch was hastily sold to Bank of America. Insurance and financial services giant AIG got an $85 billion loan from the government. The Dow plunged, then soared later in the week as Treasury Secretary Henry Paulson announced a plan to back troubled money market funds. OK, panel: a real test of good news. See if anyone's up for it. This week in business: good news, bad news or no news?

2. House approves plan to ease offshore drilling ban

Drill baby drill becomes compromise baby compromise. This week the House of Representatives approved a Democrat-sponsored bill to loosen restrictions on offshore drilling. Drilling would be allowed 50 miles from shore if states approve and 100 miles whether they approve or not. Under the deal, oil companies will lose some of their tax breaks, and utilities would be required to produce 15 percent of their electricity from renewable sources by 2020.

3. Anchovies and orange juice

The New York Times reported this week on the fact that your orange juice might be full of anchovies and sardines. Zillions of these tiny fish are harvested, ground up and added (fishy flavor removed) and added to products like OJ and bread to enhance the healthiness. It's part of a trend toward "functional foods," additives to make food better for you. Of course, a more diverse diet could do the same thing if people would only eat it.

  • Music Bridge:
    Dr. X
    Artist: Mike Shannon
    CD: Memory Tree (Plus 8)
More stories from our Good News, Bad News, No News series

Comments

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  • By Dee Groom

    From Somerville, MA, 09/20/2008

    In response to your segment about anchovies in Orange Juice on Saturday 9/20: what about vegetarians? It guess no assumptions can be made about fruit juice being vegetarian or vegan.
    Thank you for the heads up!

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