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 Preshow Return to index of stories... |
Next on New Hampshire Outlook. The future of retirement. The ENRON crisis and your savings portfolio. Plus. from Washington.reaction to the President's budget package from NH's delegation AND another glimpse of Steve Taylor's "Real NH" - a trip to the 19th annual New Hampshire Farm and Forest Expo |
| Headlines Return to index of stories... |
Welcome to New Hampshire Outlook. I'm Allison McNair. |
| Shaheen Senate Return to index of stories... |
It's official. Governor Jeanne Shaheen will run for a seat in the U.S. Senate. The Governor made her intentions known Wednesday following an executive council meeting at the State House. The governor said no matter who her opponent, she will run on her record as governor. |
| Shaheen SOT Return to index of stories... |
12:14:52 As governor, I have worked very hard to make a difference on pocket book issues in the everyday lives of the people of this state. I'm very proud of my record but one of the things I've learned as governor is that sometimes, to make things happen for people in NH, we need to see changes in policy in Washington. |
| Tag Shaheen Return to index of stories... |
Shaheen is the only democrat so far to declare for the race. Representative Sununu says he'll challenge incumbent Senator Bob Smith in the republican party. Smith says he welcomes Shaheen's challenge. For an in-depth look at how New Hampshire's political races are shaping up, be sure to join us Thursday at ten on Outlook when a political science professor looks at the lineup. |
| Intro Enron bkgrd Return to index of stories... |
Former Enron C-E-O Kenneth Lay will appear before the Senate Commerce Committee next week. Lay was threatened with a subpoena after he canceled his scheduled testimony on Monday. Whether he will testify, or invoke the fifth ammendment, remains unclear. It's all part of a wide-ranging Congressional investigation into the Enron collapse. On this edition of New Hampshire Outlook, we're going to discuss new changes in employee retirement funds. But first, we begin with a look at Enron and its downfall. |
| Enron background Return to index of stories... |
In its prime, Enron was a Fortune-500 Energy giant based in Houston, Texas. It was in a lucrative industry. But as we're learning, the company ran into serious financial problems. Analysts say the company overestimated its profits and overextended and expanded its business interests. Company executives have been accused of hiding financial problems from employees and investors. While struggling behind the scenes to avoid bankruptcy, published reports indicated Enron's finances were sound. News last fall of over $600 million dollars in third quarter losses sent stock prices sharply lower. The country declared a "blackout period" during which Enron employees were prohibited from selling company stock. That put the retirement portfolios or thousands of people at risk. That - however - did not apply to Enron executives, who were able to sell their stock. About fifteen-thousand past and present employees are suing the company, which is now in Chapter 11 bankruptcy. Congressional hearings about the Enron collapse are already underway. The possibility of a conflict of interest has been raised against Enron's auditor, Arthur Anderson, who also was consulting for corporate giant. Both Arthur Anderson and Enron have been accused of shredding documents. The Enron collapse has gotten additional attention because of the company's connection to the Bush administration. Kenneth Lay was a significant financial contributor to both democrats and republicans on capitol hill and made significant contributions to President Bush's campaign. Some lawmakers have expressed concerns as to whether Enron's business interests could have influenced Vice-President Cheney's energy task force. Cheney has refused to turn over documents to the General Accounting Office. The G-A-O is now suing Cheney to turn them over. For his part, President Bush has focused on the victims of the Enron collapse - the employees who lost their life savings. He's proposed making changes to employee retirement funds. |
| BP Bump Return to index of stories... |
Tom Sedoric has more to say about retirement plans. To hear his comments and to see links to other sources, visit our website at nhptv-dot-org. The material will be posted by tomorrow at noon. |
| Business Outlook Return to index of stories... |
Despite a brief stint in positive territory, Wall Street slumped and prices fell for the fourth consecutive session today. |
| Wall Street Stocks Return to index of stories... |
The Dow Jones shed thirty-two points, ending the day at ninety-six hundred and fifty three. The New York Stock exchange fell three points, while the American Stock Exchange faced a five point decrease. Nasdaq dropped twenty-six points, and the S-and-P-500 experienced a slide of almost seven points, ending the day at about one-thousand-eighty-four. Dow Jones\9653.39\-32.04\NYSE\557.81\-2.79\AMEX\827.02\-4.73\Nasdaq\1812.71\-25.81\SP 500\1083.51\-6.51\Wall Street Stocks\Source: Wall Street |
| NH Stocks Return to index of stories... |
Here's a look at stocks of interest to New Hampshire investors. Better news Wednesday for Portsmouth-based Enterasys Networks and Exeter-based Tyco International. Enterasys, rose ninety-three cents today. And Tyco, saw a two dollar and eighty-two cent increase today. |
| Network Plus Return to index of stories... |
More than two thousand New Hampshire telephone customers are waiting to see what will happen to their dial tone, now that a Massachusetts based Network Plus Corporation has filed for bankruptcy protection. Company officials say they will lay off about 650 of one thousand employees. The company provides local and long distance telephone service to about 77 thousand customers overall. Network Plus says it plans to continue operating as it tries to reorganize. |
| Federal Budget Return to index of stories... |
New Hampshire's congressional delegation is expressing support for President Bush's proposed budget. The President introduced his 2.1 trillion dollar budget on Monday. It features a big boost in military spending and will mean deficits for the first time in 5 years. |
| Reax Return to index of stories... |
00:26:36 It's a big budget - over 2.1 trillion.and they're going to cost a lot of money. 01;28:08 The president's - his budget has asked for a billion dollar increase in special education. I think we can do better than that. But we'll just have to go through the process. 01;33:29 The president's budget is an unprecedented budget to fit the unprecedented time. He was pretty clear about his priorities. homeland security, the war on terrorism and of course economic recovery. Those are the things he lightly focuses on in the budget. I think it's a strong outline. |
| Reax tag Return to index of stories... |
Senator Bob Smith also endorsed the budget noting its committment to environmental cleanup. He also said "The President's budget reflects his, and our, commitment to fund the war on terror, protect our homeland, and promote growth in our economy." |
| Alternative Fuels Return to index of stories... |
People who use alternative fuel vehicles just got a boost from the government. A plan was approved which looks to cut down on air pollution from cars in New Hampshire. The idea is to increase the number of fueling stations available for cars that don't burn gasoline or diesel and at the same time, push to double the number of alternative fuel vehicles produced in the state by 2006. The plan was created by the Granite State Clean Cities Coalition. |
| Intro Mt. Washington Return to index of stories... |
The heat index in Key West Florida was 81 degrees on Wednesday.The wind chill in Frenchville Maine was 29 below zero. Here in New Hampshire - temperatures will moderate slightly on Thursday. We have details from Katie Koster at the Mount Washington Observatory. |
| Intro Taylor expo Return to index of stories... |
Every year in the heart of winter, thousands of people look forward to the New Hampshire Farm and Forest Expo in Manchester. Everything from "backyard chainsaw" workshops to spinning demonstrations are featured. New Hampshire Commissioner of Agriculture Steve Taylor came up with the idea nearly twenty years ago. In the latest installment of his tour of the "real New Hampshire" he takes us to the expo and introduces us to some of the friends he's made over the years. |
| Expo FARMS & FORESTS Return to index of stories... |
In this story we follow New Hampshire Commissioner of Agriculture, Steve Taylor, to one of New Hampshire's winter traditions. The New Hampshire Farm and Forest Expo in Manchester. We visit the expo floor where you can find a whole host of agricultural and forest industry representatives. Everything from "backyard chainsaw" workshops to spinning demonstrations. Steve Taylor stops to talk with a women spinning yarn from llama wool and we visit a honey bee farmer who shows us her demonstration hive and products from the hives. And we also take a look at a new $25,000 tractor. |
| Tag Expo Return to index of stories... |
For more information on the Farm and Forest Expo, contact any of the three event sponsors. The New Hampshire Dept. of Agriculture, Markets and Food at www.state.nh.us/agric/aghome.html the UNH Cooperative Extension at ceinfo.unh.edu/ and the New Hampshire Dept. of Resources and Economic Development at www.dred.state.nh.us/. |
| website Return to index of stories... |
For information on our program, and links to our guests and interviews, visit our web site at nhptv.org. You can also see and hear streaming video of our broadcasts. If you've got a story idea or comment on our program you can call us at 800-639-2721. |
| Next Outlook Return to index of stories... |
On the next New Hampshire Outlook - Poetry in motion with former poet laureate Donald Hall. |
| Goodnight Return to index of stories... |
That's it for this edition of our program. For all of us here at New Hampshire Public Television, I'm Ally McNair. Thanks for joining us. We'll see you next time on New Hampshire Outlook. |
| founders Return to index of stories... |
Thanks to our founding sponsors who have provided major funding for the production of New Hampshire Outlook: New Hampshire Charitable Foundadtion Public Service of New Hampshire Alice J. Reen Charitable Trust Putnam Foundation Stratford Foundation |
| Tonight 10:00 Return to index of stories... |
Tonight on New Hampshire Outlook. The future of retirement. The ENRON crisis and your savings portfolio. Join us tonight at 10:00 only on New Hampshire Outlook. |
| Thursday day Return to index of stories... |
Tonight on New Hampshire Outlook. Poetry in motion with former poet laureate Donald Hall. Join us tonight at 10:00 only on New Hampshire Outlook. |
| WEB PROMO Return to index of stories... |
Tonight on New Hampshire Outlook. Poetry in motion with former poet laureate Donald Hall. Join us tonight at 10:00 only on New Hampshire Outlook. |
| key: government Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time:2/6/02 / 2200 HOST: Allison McNair Length: 2:42 minutes In addition to a summary of the day's top New Hampshire stories, this edition of New Hampshire Outlook, NHPTV's nightly news magazine, included a report on Senate Commerce Committee hearing where Former Enron C-E-O Kenneth Lay. It's all part of a wide-ranging Congressional investigation into the Enron collapse. PRODUCER/REPORTER: Allison McNair NAME OF PARTICIPANTS Former Enron C-E-O Kenneth Lay |
| key: business Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time:2/6/02 / 2200 HOST: Allison McNair Length: 4:45 minutes In addition to a summary of the day's top New Hampshire stories, this edition of New Hampshire Outlook, NHPTV's nightly news magazine, included report on the New Hampshire Farm and Forest Expo in Manchester. Everything from "backyard chainsaw" workshops to spinning demonstrations are featured. New Hampshire Commissioner of Agriculture Steve Taylor came up with the idea nearly twenty years ago. In the latest installment of his tour of the "real New Hampshire" he takes us to the expo and introduces us to some of the friends he's made over the years. PRODUCER/REPORTER: Chip Neal NAME OF PARTICIPANTS: Steve Taylor\Commissioner of Agriculture Karen Stoner\Mt. Laurel Llama Ranch - Grafton Ted Frost\Frost Farm Service - Greenville Kate Hamilton\Busy Bee Farm - Raymond |
| Tyco Webcast #1 Return to index of stories... |
Tyco conference - Dennis Koslofsky's remarks Dennis Koslofsky - 00:12:30 TYCO has been subjected over the last couple of weeks to various rumors, and we believe misleading press coverage. We have several examples of this in the past couple of days ranging from outlandish headline in a particular newspaper that was not even close to supported in a related article to charges in things like street.com that we failed to disclose acquisitions, that was later retracted by street.com -00:13:02-The Reports and rumors such as this do harm to our company and our share holders, they spoke investors in these times, and they require a lot of our management time to repute and they distract our employees. Success structure we now have in place protects the company's financial future from these rumors, and should allow us to stay focus our operations of the business, which is our most important and fundamental job here. -Out - 00:13:30 Dennis - IN - 00: 25:25 - To state the obvious there is a crisis of confidence at Tyco, but there is no crisis of reality. Although I would argue that this is not a crisis of our own creation, but we will be out talking to you, doing whatever is necessary, over communicating, to do our best to eliminate this crisis, as well as providing you pertinent financial information that will answer all of your questions. - Out-- 00:25:51 Dennis -IN -- 00:26:08 - We do want to over communicate with you, we do want to take your questions, we do want to be upfront, we do want you to remember what a strong company this is, and the terrific business we are in -Out -00:26:19 |
| Tyco Webcast # 2 Return to index of stories... |
Tyco conference - Mark - IN - 00:21:45 - On one other issue the accounting questions that have been asked, unfortunately buried in a NY Times article they do come out and say that no evidence of accounting regularities have been found at TYCO. That is true, that is exactly what happened 2 years ago when the same allegations were given, same exact argument, and we were able to demonstrate 2 years ago that our accounting was sound, the results we were showing were appropriate, that was confirmed and reviewed by the government and by independent auditor, we are in the same position today as far as our approach to accounting, it is on a conservative basis, it is full disclosure, second to none and we do know that as a result of the question being thrown out into the market place in a current jittery market, there are questions that just come from the allegations themselves. We understand that, we recognize that, we are currently working on the best way to once again demonstrate that the accounting is sound, and appropriate, and we will put that on a public filling AK with the FCC, in order to once again to prove to you that it is as secure as it was two years ago, a year ago, and is included in our 10k --Out -00:23:14 Mark -IN - 00:56:13 - If there had been a story that could have come out it would have been, that there were acquisitions that we did not put individual press releases for, however as far as financial statements are concerned 100% of the acquisitions are included in their, we did have to pay the cash, it came out of our accounts - 56:31 |
| Notes - Enterasys Return to index of stories... |
ENTERASYS Replay of conference call for Enterasys Network Kristin Shephard senior dir. of investor relations CEO Chairman Henry Fiello Financial projections based on current estimates and assumptions may be incorrect events and circumstances - business disruptions market perceptions.terrorist activities Henry Fiallo CEO - assure investors cusstomers partners and employees we conduct business with highest degree of integrity be open with all stakeholders swift actions learning after market closed my committment all steps to bring both amttters to swift and appropriate conclusion Asia-Pacific issue uncovered late Thursday 25=30 million on a quarterly basis 13% of quarterly worldwide revenue VP of Finance was reviewing Asia Pacific accts. receivable - request documentation account outstanding balance 4 million dollars 1 doc. reviewed was a contract that contained terms and conditions did not suppport recognition of revenue under Enter policies which adhere to generally accepted accounting principles issue review with KPMG independent auditors ---discovered had been provided with a different version of same contract containing terms that dis support revenue recognition revenue was recognized in August of 2001 convene board of directors outline action plan ropes and gray rigorous review ccontracts and revenue asian region ropes and gray has engaged deloitte and touche forensic auditing based in singapore review several weeks to complete unable to determine potential impact on fourth quarter and prior period financial results if any Sat evening admin leave of 3 asia pacific employees pending results of agreement and transactions related to asia pacific relations what if any legal actions inititated by company prior to discovering not satified with performance.search for region president gary jackson appt. bob gagalis new international financne position to implement best practices for all offices comment on sec Thursday evening informed us securtites and exchange commission intitated investigation most companies don't disclose elected to discloe last firday.no reason to assume asia matters prompting investigiation know very little aprisma may be included enterasys delay aprissma shares confirm committment provide transparent and comliant financial information in line with internal expectations in US latin amaerica unerperformance delay closing transactions brazil. current market conditions challenging and competitive markets it byudgets scrutinized non mission saving caiptol same cios spending on network infrasstructure return on ivestment top priority |