The Great Wall Street Crash of 1929 at the New York Stock Exchange in New York,United States.
Depiction of the New York Stock Exchange crash of 1929 in New York City. American traders at the New York Stock Exchange (NYSE) in New York. People trading at the exchange market. A man talks on a telephone. Many people gathered on the floor of NYSE. People discuss, crowd, and shout out orders. People sell their shares. Frenzied selling of shares. Ticker tape machines spitting out sell orders. Traders yelling orders to other traders. Telephone switchboard operators frantically taking orders. A note reads 'Sell 3000 M' , 'Sell 800 GE' , 'Sell 1000 RCA', 'Sell 1000 M' , 'Sell 1000 A', 'Sell 500 EBS' and 'Sell 2000 CN'. The stock market crashes. Stock ticker tape and papers scattered all over the floor of the exchange on Wall Street. Location: New York City USA. Date: October 29, 1929.
STOCK EXCHANGE -3
Frenetic activity at the stock exchange busy men involved in transactions; ticker tape machines and ticker tape
LONDON STOCK MARKET
MATERIAL RELATING TO THE STATE OF THE LONDON FINANCIAL MARKET THE DAY AFTER THE NEW YORK STOCK EXCHANGE (NYSE) CRASH. 20:36:09:22 CS. VS of activity at a London investment house. VS of traders on phones, at computers and yelling out bids. Blank. 20:41:55:00 Traders comment. Blank. 20:47:00:00 VS of frenzied activity on the floor of the London stock market and futures exchange. CI: FINANCE: STOCK EXCHANGE, LONDON, ENGLAND.
Commodity Trading (Chicago Board Of Trade); 10/10/80
Commodity trading activity on the floor of the Chicago Mercantile (Stock exchange) (Stock Market)(Wall Street-ish); Footage of frenzied bidding on some commodities (much screaming and hand waving); Lots of chaotic floor activity; CUs of the bigboard; men change figures on chalkboards regularly; details scroll past on zipper
DAV-5 1 inch; Beta SP; NET-518 Beta SP (at 01:00:00:00); DigiBeta
THE JAZZ AGE
Vendors of New York City, lower east side street markets, businesses and New York Stock Exchange stock market activity
German propaganda film released during World War 2 shows scenes in New York City during the Great Depression in the 1930s. Shows a woman being honored by a group of men in New York as she receives an award. A crowded shopping and market area of New York City, with street vendors and laundry service. An African American shoe shine man wearing a top hat finishes shining a customer's shoes, bows, and then performs a dance on the sidewalk. A busy shopping and market area on Orchard Street in the lower east side of Manahattan, with many stores including Guiradi's Antiques Sol Moscot Optical at address 119, Cohen's Optical at 117 Orchard Street, and others. Street area filled with carts and market activity in a densely populated area of New York City. Workers inside a busy garment factory in New York. Hebrew signs in front of Jewish stores and businesses in New York. View of New York Stock Exchange floor with scenes of frenzied buying and selling as buyers and sellers yell their orders in a trading pit. Hands of a man counting a pile of cash bills. View of Mayor Fiorello H. La Guardia talking to a man, a group of well dressed business men, and LaGuardia addressing a gathering of people. Clip is from an anti Jewish propaganda segment of a newsreel produced by Nazi Germany during World War 2. Location: New York City USA. Date: 1936.
USA: NEW YORK STOCK EXCHANGE WRAP
TAPE_NUMBER: EF00/0422 IN_TIME: 20:40:55 - 21:42:33 LENGTH: 02:32 SOURCES: Shots 1-4, 7-8 = NYSE, the rest = APTN RESTRICTIONS: All No Access Internet FEED: VARIOUS (THE ABOVE TIME-CODE IS TIME-OF-DAY) SCRIPT: English/Nat Stocks plummeted in heavy trading on Friday - with the Dow industrials down a record 616 points and the Nasdaq composite index also taking a record fall of 356 points - as inflation jitters extended Wall Street's selling spree. The Dow Jones industrial average, which fell 201 points on Thursday, at one point tumbled an additional 722 points before coming back somewhat in the final minutes. A government report of an unexpectedly strong rise in consumer prices in March only added to Wall Street's unease. Wall Street's best-known indicator closed down 616.23, or 5.6 percent, at 10,307.32, according to preliminary figures. That surpassed the previous record one-day drop of 554.26 points of Oct. 27, 1997, but was far from a record decline in percentage terms. The slide on Friday left the blue-chip index down 12 percent from its Jan. 14 record of 11,722.98. The Nasdaq composite index didn't fare any better, tumbling 356.74, or by 9.7 percent, to 3,320.04 at the close, according to early calculations, dropping deeper into bear- market territory. SOUNDBITE: (English) "Today is a historic day in the sense that you don't get many crash-type days. We haven't had one of severe magnitude since 1987, of this size. It's a historic day in the sense that you look for certain characteristics of a big drop in the market - illiquidity, stocks just dropping because there's no buyers, it doesn't occur very often." SUPER CAPTION: Barry Hyman, Market Analyst, Ehrenkrantz King Nussbaum Inc. The Nasdaq already had plunged or 17 percent in the first four days of this week, and with the latest decline, the technology-focused average was off 34 percent from its March 10 record of 5,048.62. A bear market is considered a sustained drop of more than 20 percent. Trading volume exceeded two billion shares on the Nasdaq Stock Market and surpassed 1 billion shares on the New York Stock Exchange. Analysts say the most fundamental reason for the drop in high-tech stocks is a growing sense that investors pushed those issues too far last year, when the Nasdaq rose an unprecedented 86 percent. The frenzy for technology stocks gave many young, unproven companies market values they did not yet deserve. But many market watchers were still optimistic that this is only a minor setback, and that technology stocks will continue to drive up world markets. SOUNDBITE: (English) "I think - I don't want to say brainwashing - but I think technology is driving the economy at this point in time, and people are confident that technology is just going to keep advancing, so - I think it's a good thing. I really do. I think we're the market leaders in the world for technology, and I'm betting that we'll be number one going forward." SUPER CAPTION: Ed Wachowicz (Voxpop) A government report on Friday morning of an unexpectedly strong rise in consumer prices in March added to Wall Street's unease. The figures rekindled worries that the Federal Reserve not only would raise interest rates again, but might be more aggressive in trying to cool down the economy. The Fed has raised rates five times since June, each time by a quarter-point in borrowing charges. This has prompted pessimists to warn against investors who are searching for bargains against buying into the market after Thursday's drop. SOUNDBITE: (English) "We heard the repetitive story of, you know, the market goes down, you have to buy. And I think it's irresponsible and it's dangerous. I mean, the investors have been kind of programmed with this mentality, yet we're sitting on an economic situation and a stock market certainly that's the most overvalued by any comparison." SUPER CAPTION: Mike Norman, Publisher "Economic Contrarian Update" newsletter Markets overseas also were broadly lower: Japan's Nikkei stock average fell about 0.5 percent before trading began on Wall Street. In Europe, where trading ended as Wall Street shares were tumbling, key indexes fell 2.8 percent in Britain, 3.2 percent in France and 3.1 percent in Germany. SHOTLIST: New York, April 14, 2000 NYSE 1. Wide shot, interior NYSE, zoom in to man ringing closing bell 2. Close up electronic board at NYSE 3. Wide shot New York city street, pan up to show big Nasdaq electronic board on street NASDAQ 4. Close up electronic board showing closing level of Nasdaq composite index APTN 5. Interior trading floor Ehrenkrantz King Nussbaum Inc. 6. SOUNDBITE: (English): Barry Hyman, Market Analyst, Ehrenkrantz King Nussbaum Inc. NYSE 7. Close up NYSE electronic board 8. Medium shot traders on floor of NYSE APTN 9. Wide shot exterior Nasdaq market site, pan down to pedestrians on street 10. Close up people looking through window into Nasdaq market site APTN 11. SOUNDBITE: (English): Ed Wachowicz (Voxpop) 12. Wide shot people looking through window into Nasdaq market site 13. SOUNDBITE: (English): Mike Norman, Publisher "Economic Contrarian Update" newsletter 14. Close up Nasdaq electronic board, zoom out to show wide shot of board XFA?
AFTER
Empty Chicago Board of Trading floor, Man on floor of exchange, Clock (9:30), Overhead of frenzied trading, People in visitors galley talk about Board of Trade, Man chalking in prices on trading board, Steel mill scene, Hugh takes food out of lunch box, Woman buys flour in supermarket, Tractor plowing, Reapers, Woman sewing in living room, Man on phone talks about market caliber, Train, People walking in front of 5 & 10 store, Woman making sandwiches, Man in living room reading paper, Man says "I'm a Miller" and talks about buying wheat, People taking orders at teletype, Kids marking bars, Pan up of big building, Pan back down, Shot of two gates opening automatically inside building, Camera tracks through building, LS of huge room where stock exchange goes on, Shot of "BOARD OF TRADE MARKET" sign with corn, oats, and wheat, Static shots of desks and rooms, etc, where exchange goes on, LS of men walking into room, CU of men talking and taking notes, LS of room filling up with more and more men, CU of clock reads 9:30, Various shots of stock market, bells ringing, men yelling and grabbing, MS of sign reads "Visitors Gallery," man walks into room, MS of two men and woman talking on balcony which overlooks exchange, Men and woman talking about what different hand signals mean, Shot of board with all the different prices, MS of man blow torching something, CU of man opening lunch box, camera pulls out to man with hard hat talking, Shot of woman pushing shopping cart in grocery store, CU of cart, CU shot of a plow working in the field, MS of tractor driving towards camera, MS of farmer sitting on tractor, wipes sweat from brow, Shot of farmer coming out of building and climbs on tractor, Various shots of tractor in field, Farmer working in wheat field, CU of an old radio, camera pulls out to woman sewing on the couch, Man walks into room, CU of woman on couch sewing, MS of man lighting a pipe, Shot of man driving truck to building, Man decides to sell his grain, MS of man on telephone, LS of train coming down the tracks, Various shots of buildings, machines, etc, Various shots of trade, CU of man looking at samples of grain in brown paper bags, MLS of men in charge of trade, MS of men on typewriters, CU of fingers looking at paper, MS of man looking at weather map, LS of people walking on street and shopping, CU of woman making sandwich, Camera pans out to woman in kitchen wearing apron, MS of man smoking pipe, reading paper, Shot of two men in coats and ties, CU of grain in man's hand, Shot of woman in grocery store walks by flour sign reads "51 lb bag, 55 cents", Camera zooms into sign and sign changes quickly to 65 cents, 75 cents, Sign reads "SORRY NO FLOUR TODAY", Sign changes to 85 cents for flour, Camera then zooms out to woman picking up bag of flour, Shot of man holding pad and taking notes and talking to farmer, Shots of two men talking about grain, CU of man behind the desk, Shots of men in market room on the telephones, Various shots of the trade market, CU of clock reads 1:15, Shot of empty room, shot of kids on jungle gym, Shot of boy pitching baseball, Shot of girl crossing monkey bars, Shot of two boys in matching shirts with barrels of corn, Shot of empty market room, Shot of outside of market building.
Asia Markets - WRAP Comments day after markets plunge 8 per cent; Philippines shares slide
NAME: ASIA MARKETS 20070605I TAPE: EF07/0663 IN_TIME: 11:16:13:12 DURATION: 00:02:36:23 SOURCES: AP TELEVISION DATELINE: Various, 5 June 2007 RESTRICTIONS: SHOTLIST: 1. Wide pan of people watching screens at stock trading centre 2. Close-up of graph on screen, showing falls 3. Close-up of screen with red figures 4. Various of investors watching 5. SOUNDBITE: (Mandarin) Vox Pop, Beijing Investor: "I think the stock market is very unstable now and we don't know whether there is going to be any positive news in the future. As you know the government raised a tax on trading several days ago and it was a heavy blow to us. If the government announces any other policies like that, it will totally ruin our confidence." 7. SOUNDBITE: (Mandarin) Vox Pop, Beijing Investor: "There is no such thing as 'always rise with no fall' nor 'always fall with no rise' in the stock market, you have to believe that. As to when will the stock market rise and to what degree it will rise,I have to wait and see. If the stocks rise, I will sell out all that I have even if I lose some money, I just want to get my capital back. " 8. Wide pan of people watching screens at stock trading centre 9. Close-up of people at stock buying and selling machines 10. Close-up of investor watching screen 11. Wide of Philippine Stock Exchange trading floor 12. Close-up of board 13. Various of stock trading floor 14. SOUNDBITE: (English) Alejandro Yu, Stockbroker: "It was 14 points down today on not so heavy volume. So we were expecting a bigger correction due to the sell-down in Shanghai and the rest of Asian markets also closed mixed today. There were some markets that were stronger, some markets that were weaker. Right now we are looking for directions toward Dow Jones also, the US market." 15. Graph showing the day's trading pattern 16. SOUNDBITE: (English) Alejandro Yu, Stockbroker: "The trend will be a narrow trading range, while we will be trading within a narrow trading range for the next few days, taking our cues from the rest of Asia, especially Shanghai/Shenzen markets and also how the US performs." 17. Various of stock exchange floor STORYLINE: Chinese stocks rebounded on Tuesday in volatile trading following their sharpest one-day drop in three months, as strong buying by institutions offset selling by retail investors. The benchmark Shanghai Composite Index gained 2.6 percent to 3,767.10 after a rollercoaster session that saw the index plunge by 7.2 percent earlier in the day. It fell 8.3 percent on Monday, the benchmark's sharpest decline since an 8.8-percent drop on February 27 triggered a global market sell-off. The Shenzhen Composite Index for China's smaller second market rose 2.5 percent to 1,066.05. Regional market reaction was muted for a second straight day, with Japan's benchmark index up 0.5 percent and Hong Kong shares up 0.7 percent by mid-afternoon. Chinese investors dumped shares in reaction to a government decision to triple a tax on stock trades last Wednesday, viewing the move as a signal regulators are determined to cool frenzied trading. One investor said people could lose confidence in the stock market. "I think the stock market is very unstable now and we don't know whether there is going to be any positive news in the future.," he said. "As you know the government raised a tax on trading several days ago and it was a heavy blow to us. If the government announces any other policies like that, it will totally ruin our confidence," he added. The boom had prompted (m) millions of first-time investors to jump into the market, tapping savings and retirement accounts and mortgaging homes to buy stocks. Authorities are worried that the new money is fuelling a bubble in prices and that novice investors could be hurt if prices fall sharply. So far, other markets have shrugged off the latest Chinese declines. Economists say the fall in Chinese prices should have only a modest impact on the overall economy, because China's growth is driven by exports, not the financial markets, and families have still much more money in savings than in shares. Government financial newspapers tried to reassure investors with front-page editorials Monday that said the tax hike on trading in stocks - from 0.1 percent to 0.3 percent - would be good for the market by encouraging longer-term investment in better stocks. Beijing has given no sign how much it wants prices to fall but economists say Chinese leaders might consider a 20 to 25 percent decline the right level to restore order to the market. Prices had climbed nearly 60 percent since the start of the year, following a 130 percent surge in 2006. By Tuesday's close, the benchmark Shanghai index was 13 percent below its record high of 4,334.92, hit May 29. But it was still up 40 percent for the year so far. Meanwhile, Philippine shares slipped on Tuesday as investors cashed in some of their gains after the market's rise to a fresh record the day before. The 30-company Philippine Stock Exchange Index dropped 14.80 pesos, or 0.4 percent, at 3,608.14, after Monday's record close at 3,622.94. Stockbroker Alejandro Yu said a "bigger correction" was expected, "due to the sell-down in Shanghai and the rest of Asian markets also closed mixed today. There were some markets that were stronger, some markets that were weaker," Yu said. "Right now we are looking for directions toward Dow Jones also, the US market," he added. Yu said brokers will be watching how the rest of Asia and the US performs over the next couple of days. "The trend will be a narrow trading range, while we will be trading within a narrow trading range for the next few days, taking our cues from the rest of Asia, especially Shanghai/Shenzen markets and also how the US performs," he said. An analyst from Unicapital Securities said that worries over the China market's sell-off were also keeping investors on a wait-and-see stance.
Decline in industry and jobs, and Stock Market crash and start of Great Depression in the United States.
The film 'The Unfinished Revolution' opens by showing people recovering after the Great Depression in the United States. Most scenes circa 1929 - 1931 (but film produced in 1960s). Landmarks in Washington DC: the United States Capitol building with 1940s and 1950s cars and taxi cabs on roads in foreground. View of exterior of Supreme Court building. Closer view of U.S. Capitol and then of the White House in Washington DC. Also the Washington Monument. Scene changes to the American West and a herd of sheep and of cattle grazes on pastures or ranch. Cowboys on horseback herd cattle on a giant field with snow covered mountains in the background. Farmers work in a field picking cotton. Scene changes to New York City with view of Manhattan skyline including Empire State Building, with new skyscrapers in construction in the foreground. View of market area and tenements; push cart vendors lined up on a street in a lower east side New York City neighborhood, and a Ford sedan on the street. Busy New York City streets filled with cars and pedestrians at end of 1920s. Children standing on fire escape in poor downtown area look down over suspended laundry lines between tenement buildings. An officer looks out from small window of a raised booth traffic light as the lights on the booth change color. A Ford automobile assembly line. Engineers work in a factory with minimum wages. A farmer plows a field of potatoes using four horses. A wheat thresher working a field. Trains at a crossing, on a bridge, and coal cars lined up at a coal yard. Busy New York Stock Exchange (NYSE) floor filled with people around time of 1929 stock market crash and start of Great Depression. Frenzied stock market scenes. Board outside a factory reads 'No Men Wanted'. Scenes of silent railroad yards and dormant factories. A man plays an accordian and collects coin donations. Jobless people wait in relief lines, soup kitchen lines, unemployment lines or queues and bread lines. Unemployed and homeless men asleep in public areas. Location: United States USA. Date: 1929.
Kenya IPO 2 - Shares in mobile service provider begin trading
NAME: KEN IPO 2 20080609I TAPE: EF08/0602 IN_TIME: 10:09:50:18 DURATION: 00:02:36:02 SOURCES: AP TELEVISION DATELINE: Nairobi - 9 June 2008 RESTRICTIONS: SHOTLIST Niarobi 1. Wide of billboard reading "Nairobi Stock Exchange" 2. Wide of President Mwai Kibaki walking onto the floor of the Nairobi Stock Exchange 3. Various of guests at the Nairobi Stock Exchange 4. SOUNDBITE (English) Mwai Kibaki, President of the Republic of Kenya: "We were able to launch the Safaricom IPO on 28th March, the year 2008. The response by Kenyan and international investors was overwhelming, making this IPO the most attractive offering in our history, and possibly in the rest of Africa. I am therefore pleased to be here to welcome this great Kenyan company to the Nairobi Stock Exchange." 5. Cutaway of electronic board 6. Wide of President Mwai Kibaki ringing bell to officially open trading 7. Tilt down from electronic board to stock traders Niarobi 8. Various set up shots of Chief Executive Officer of Safaricom Ltd Michael Joseph 9. SOUNDBITE: (English) Michael Joseph, Chief Executive Officer Safaricom Ltd: "We went out of our way to create as many shares as we possibly could to let people apply. The fact is that (word inaudible) subscribers is an IPO process and that is how it is, there is nothing we could do, that's how things work." Kibera, Niarobi 10. Wide of Kibera shantytown 11. Tilt down from hair salon sign reading "FOUNTAIN OF BEAUTY SHOP" to women plaiting customer's hair 12. Customer having hair plaiting hair 13. SOUNDBITE: (English) Catherine Onyango, hair dresser: "I could not raise the whole amount that I wanted because business was not so good after the post election violence, so I managed to borrow some money from the bank, about half of what I wanted and that is what I invested though I am a bit disappointed right now because I am sure I am not going to get everything. I thought I would get much more than 21 percent." 14. Wide shot of man on phone 15. Child on phone STORYLINE Shares in Kenyan mobile service provider Safaricom began trading on the Nairobi stock exchange on Monday in east Africa's biggest-ever Initial Public Offering (IPO), a sign of investor confidence in a country torn apart by post-election violence earlier this year. "This IPO is the most attractive in our history," President Mwai Kibaki said on Monday before ringing the bell at the stock exchange to begin trading. The sale of 10 (b) billion shares - a 25 percent stake - in Safaricom, which the government jointly owns with a consortium led by Britain's Vodafone Group, dominated headlines in recent weeks. It energised Kenyans, with some 750-thousand applying for an allotment of shares by lining up at banks and brokerages for hours. The sale was oversubscribed by more than 400 percent as domestic and international investors scrambled for shares. "We went out of our way to create as many shares as we possibly could to let people apply," assured Safaricom CEO Michael Joseph. The government is hoping to raise 52.8 (b) billion shillings (833 (m) million US dollars) from the IPO, valuing the firm at about 209 (b) billion shillings (3.3 (b) billion US dollars). Safaricom's share price closed at 6.95 shillings (US$0.116), from the initial price offer of 5 shillings (US$0.08), which represents a 40 percent increase, said an associate director of Standard Investment Bank. In the financial year ending March 31, the company made 13.9 (b) billion shillings (231.6 (m) million US dollars) in after-tax profits, up from 12 (b) billion shillings (200 (m) million US dollars) the previous year. During the same period, subscribers rose to 10 point two (m) million, from six (M) million, Safaricom reported in its March 31 financial results. The company said that rise in customers represented 84 percent of the market share. Telecommunications experts estimate that the potential market for mobile phone subscribers is 14 (m) million out of Kenya's population of 34 (m) million. Thanks in part to high commodity prices, economic growth, debt relief initiatives and recent market-friendly economic policies, so-called "frontier" stock markets throughout Africa, from bigger players like Nigeria to Ghana and tiny Malawi, have been yielding big gains for investors. The continent's bull market is being driven in part by a growing African middle class seeking new investment opportunities. Although some, like hairdresser Catherine Onyango, were disappointed that they were only allowed to buy 21 percent of the shares that they had applied for due to oversubscription. "I managed to borrow some money from the bank, about half of what I wanted and that is what I invested though I am a bit disappointed right now because I am sure I am not going to get everything. I thought I would get much more than 21 percent," she told AP Television. With the US economy wobbling, American and European investment funds are now taking an increased interest in Africa, buying bargain-priced shares of undiscovered companies. The Safaricom sale came as the country struggled to regain its economic footing after December's disputed presidential election. The election laid bare frustrations over poverty, corruption and long-standing ethnic rivalries in Kenya. More than 15-hundred people were killed and hundreds of thousands displaced. In many regions, the violence brought a bloody end to decades of coexistence among Kenya's ethnic groups, transforming cities and towns where Kenyans had lived together, however uneasily at times since independence from Britain in 1963. A power-sharing deal between Kibaki and Raila Odinga, who was named to the new post of prime minister under the agreement, ended much of the frenzied bloodshed. But the Kenyan leaders must now try to heal a divided nation and restore one of Africa's most promising economies.
US Oil - Prices up after US report surprise drop in crude stocks
NAME: US OIL 20080305I TAPE: EF08/0255 IN_TIME: 10:41:00:04 DURATION: 00:01:31:19 SOURCES: AP TELEVISION/VNR DATELINE: Various - 5 March 2008/FILE RESTRICTIONS: SHOTLIST: AP Television New York - 5 May 2008 1. Wide pan of trading floor at New York Mercantile Exchange 2. Mid of trading floor 3. SOUNDBITE: (English) Mike Thessfeld, HPR Commodities senior trader: "It was definitely a surprise. Why was it a surprise? Because everyone expected a build in crude. We've seen these steady builds. I think it was seven straight weeks that we had seen builds in crude oil supplies. And quite honestly the whole market anticipated that it would be just more the same for the eighth week in a row and we got just entirely the opposite and when you have that happen with these volatile markets that we've seen any kind of draw down when a build is obviously anticipated was the big reason we went higher in my opinion." 4. Tight of floor 5. SOUNDBITE: (English) Mike Thessfeld, HPR Commodities senior trader: "The market already had that built in. I really don't think, if you talk to a lot of traders down here I don't think many of us really expected OPEC to come out and say that they are were going to increase production. So that really wasn't much of a surprise. Maybe some of the language they used, some people may be able to interpret the words they used today to draw conclusions that perhaps OPEC is considering cutting production in the future. I don't necessarily know that's the case but a lot of people are maybe looking for justification, the reasons for the move to go higher." Petroleum Institute VNR File: Date and location unknown 6. Wide of workers on rig 7. Aerial of oil production rig in the ocean STORYLINE: Oil prices surged in the US on Wednesday, rising 5 US dollars a barrel to a new record price of 104.52 US dollars a barrel after the government reported a surprise drop in crude oil stockpiles and the Organisation of Petroleum Exporting Countries (OPEC) steadied production levels. Most analysts had expected the Energy Department to report oil supplies which were expected to rise last week for the eighth straight time, instead, they fell by 3.1 (m) million barrels. "Everyone expected a build in crude. We've seen these steady builds. I think it was seven straight weeks that we had seen builds in crude oil supplies. And quite honestly the whole market anticipated that it would be just more the same for the eighth week in a row and we got just entirely the opposite," said Mike Thessfeld a commodities senior trader at HPR commodities. In Vienna, meanwhile, the OPEC said it would hold production levels steady, at least for now. Thessfeld said that news was not a surprise and had already been anticipated. "The market already had that built in," said Thessfeld. "If you talk to a lot of traders down here I don't think many of us really expected OPEC to come out and say that they are were going to increase production." The US Energy department report and the OPEC announcement fed a new frenzy of investing in oil futures, which have risen to new inflation-adjusted records this week as the falling dollar drew new investors to the market. Light, sweet crude for April delivery jumped 4.65 US dollars a barrel to 104.17 US dollars on the New York Mercantile Exchange after earlier rising to 104.56 US dollars, a new trading record, and appeared poised to move higher. Earlier this week, oil prices broke the previous inflation-adjusted price record of 103.76 US dollars, set in 1980 during the Iran hostage crisis. Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is falling. At the pump, meanwhile, gas prices rose a cent to a national average of 3.178 US dollars a gallon, according to the Oil Price Information Service. Gas prices have been following oil's recent rally, and are 69 cents higher than a year ago. Many analysts expect prices to rise to near 4 US dollars a gallon this spring and summer as driving demand picks up. Many analysts believe oil's rally will be short-lived. Falling demand for overall petroleum products, which was down 3.4 percent over the last four weeks compared to the same time last year, suggest prices could drop steeply once the dollar-driven oil investment frenzy runs out of steam, analysts said. OPEC ministers cited falling demand in announcing their decision to hold production steady. Gasoline demand is off about 1 percent over the last six weeks compared to the same period last year, according to Energy department data. OPEC did pledge to keep a close eye on oil supply and demand, and said it could change its output levels quickly if needed. Other aspects of the Energy department's inventory report were roughly in line with expectations. Gasoline supplies grew by 1.7 (m) million barrels last week, more than the 900 thousand barrels analysts expected, and are at record levels. On the other hand, inventories of distillates, which include heating oil and diesel fuel, fell by 2.4 (m) million barrels, more than the expected 1.9 (m) million barrel decline, and are low in historic terms. Refiners ramped up production for the second week in a row, boosting activity by 1.2 percent to 85.9 percent of capacity, beating analyst forecasts. In London, April Brent crude rose 3.76 US dollars to 101.28 US dollars on the ICE Futures exchange.
US Markets - US market retreats as rising oil prices chill investor enthusiasm
NAME: US MARKETS 20070423Ix TAPE: EF07/0479 IN_TIME: 10:47:49:12 DURATION: 00:02:10:05 SOURCES: See Script DATELINE: New York City, 23 Apr 2007/FILE RESTRICTIONS: SHOTLIST: NYSE (New York Stock Exchange) April 23, 2007 1. Wide pan across trading floor of the New York Stock Exchange 2. Mid shot traders on floor AP TELEVISION April 23, 2007 3. SOUNDBITE (English) Sam Stovall, Senior Equity Analyst with Standard and Poor's "Well I think what's contributing to the market moving higher is the prospect that the Fed (Federal Reserve) might not be required to raise interest rates any more, that inflation might be on a moderating trend, and that who knows, maybe even by the end of the year, we could see the first of a few cuts in interest rates. Also I think that we're seeing earnings come in a little bit better than expectations, but let's face it, the bar was very, very low coming into this quarter." NYSE April 23, 2007 4. Mid shot traders AP TELEVISION April 23, 2007 5. SOUNDBITE: (English) Sam Stovall, Senior Equity Analyst with Standard and Poor's: "I think 13,000 is really just a psychological barrier, it's a very even number with a lot of zeros on it. Probably more important is 1527on the S and P (Standard & Poor's) 500 because that was the high that was reached back in March of 2000, so while the Dow (Jones) has gone on to set all-time highs, the S and P hasn't. So we are still in a cyclical bull market, but hoping to break into what's called a secular bull market once we establish an all-time high." US Bureau of Engraving and Printing FILE - Date unknown 6. Various US dollar bills being printed AP TELEVISION April 23, 2007 7. SOUNDBITE: (English) Sam Stovall, Senior Equity Analyst with Standard and Poor's: "With the US economy slowing, with the prospects that the Fed would not be raising rates any more but actually could start to cut rates by the end of this year, that would put downward pressure on the US dollar. That's not necessarily bad for US companies in general, or US share prices in particular. On a company basis, about 40 percent of the revenues for companies in the S and P 500 come from overseas operations, so whatever earnings are received from overseas you translate them back into a weaker dollar, that would make the earnings look that much stronger." US Bureau of Engraving and Printing FILE - Date unknown 8. Various US dollar notes being printed STORYLINE: The US stock market retreated from historically lofty levels on Monday as rising oil prices chilled investor enthusiasm for strong earnings reports and new takeover activity. The Dow Jones industrials came within 17 points of 13,000 before pulling back. The blue chip index hit a new trading high of 12,983.92 after British bank Barclays PLC said it would acquire Dutch bank ABN Amro NV for 91.16 (b)billion US dollars, and British drugmaker AstraZeneca PLC said it will buy US drugmaker MedImmune Inc. for 15.6 (b) billion US dollars. Though the US economy has been slowing and the dollar has been weakening, global takeover activity remains robust, giving investors reason to believe US companies will keep finding ways to pull in profits. Corporate growth is slower than it has been in years, though, and investors grew cautious as they awaited more clues about the direction of the economy. Sam Stovall, Senior Equity Analyst with Standard and Poor's, said a variety of factors were causing the market rise, including the prospect that the Federal Reserve might not be required to raise interest rates any more as well as possible forthcoming cuts in interest rates. "Also I think that we're seeing earnings come in a little bit better than expectations, but let's face it, the bar was very, very low coming into this quarter," said Stovall. On Monday, a spike in crude oil prices above 65 US dollars a barrel re-ignited inflation worries and reminded Wall Street that other economic obstacles exist as well, such as a weak dollar and slow housing market. Analysts said investors were trading deliberately - and avoided succumbing to pre-13,000 euphoria. Although the Dow passed 12,000 only last October, there appeared to be little of the kind of frenzy that drove the market's major indexes to record after record during the dot-com boom. The broader Standard & Poor's 500 index fell 2.97, or 0.20 percent, to 1,481.38. The index is about 3 percent away from its record close reached in March of 2000 of 1,527.46, which Stovall said is perhaps a more important number to watch. "I think 13,000 is really just a psychological barrier, it's a very even number with a lot of zeros on it," said Stovall. "Probably more important is 1527 on the S and P 500, because that was the high that was reached back in March of 2000, so while the Dow has gone on to set all-time highs, the S an P has not. So we are still in a cyclical bull market, but hoping to break into what's called a secular bull market, once we establish an all-time high." In late afternoon trading, the Dow Jones industrial average fell 32.34, or 0.25 percent, at 12.929.64. On Friday, the Dow rose more than 150 points to 12,961.98, posting its seventh straight gain and third straight record close. The blue chip index appears to have recovered from its stumble in late February, and has hit 34 record closes since the beginning of October last year. The technology-dominated Nasdaq composite index lost 3.90, or 0.15 percent, to 2,522.49. Bonds rose as stocks fell. The yield on the benchmark 10-year Treasury note fell to 4.65 percent from 4.67 percent late Friday. Crude oil prices climbed 1.65 to 65.76 dollars a barrel on the New York Mercantile Exchange on growing concerns that oil supplies could be disrupted as violence escalates in Nigeria. Gold prices slipped. The dollar rose slightly against the euro and British pound, but is still trading at historically low levels versus those currencies. The dollar's recent drop is not necessarily bad for the US economy; it makes US goods comparatively cheaper and therefore more attractive to foreign importers. However, a weaker dollar reduces its allure as an investment currency, especially as interest rates rise in other countries. According to Stovall, a lagging dollar can be very beneficial for some US companies. "On a company basis, about 40 percent of the revenues for companies in the S and P 500 come from overseas operations, so whatever earnings are received overseas, you translate them back into a weaker dollar, that would make the earnings look that much stronger," he said. Later this week, investors will face six of the Dow component companies reporting first-quarter financial results, as well as data on the housing market, durable goods, gross domestic product and consumer confidence.
BRIAN ROSS UNIT / BRS / SHAKEDOWN ON WALL STREET CON MEN AND MOBSTERS RIP OFF SMALL INVESTORS
CS VO ON WALL STREET CON MEN SHAKING DOWN SMALL INVESTORS SEGMENT [2] 1997/05/02 ************************************************ KEYWORDS: 20/20; ACQUIRED IMMUNE DEFICIENCY SYNDROME; BRIBERY; BULLS; FRAUD; FRAUD; GENERAL MOTORS; MAFIA (COSA NOSTRA); MICROSOFT CORPORATION; ORGANIZED CRIME; SHARKS; STOCK MARKET; SUN; TAX EVASION; TELEMARKETING; US DOLLAR 22:03:41 HUGH DOWNS, ABC NEWS It s the perfect plot for a movie. But this is real life. Con men and mobsters are bullying their way into Wall Street -- threatening stockbrokers, paying bribes, doing whatever is necessary to get their hands on your money. Well, tonight, a 20/20 investigation uncovers this new crime phenomenon that s ripping off millions of dollars from small investors like you. BARBARA WALTERS, ABC NEWS True. Because the stock market is on a roll. Money is pouring in from people of all incomes who see the chance to make their money grow. But what entices them is also attracting predators bent on getting at their money -- your money. How do they do it? ABC s chief investigative correspondent Brian Ross has the exclusive inside story from a man who knows all about taking risks. TONY ELGINDY, STOCKBROKER I received a bullet in the mail -- a bullet -- with my name on it. 300 - pound guys walking into an office beating you up, making you do this, do this. It s happening. It s happening on Wall Street. That s not going to happen to me. (Gunshots) BRIAN ROSS, ABC NEWS (VO) Tony Elgindy is a 29 - year - old stockbroker who drives a Ferrari, makes and loses millions and doesn t go anywhere without his gun. TONY ELGINDY It s a small Colt 380. BRIAN ROSS (on camera) This is Wall Street in the 1990s -- threats, beatings, guns? TONY ELGINDY It s definitely there. I ve seen it close up. BRIAN ROSS (VO) Elgindy started carrying a gun and using elaborate security measures after he began cooperating with the FBI and federal prosecutors, telling what he knows about a new wave of stock swindlers and organized crime figures who have moved into Wall Street in a big way, targeting as their victims small investors across America. TONY ELGINDY They are what the scams are all about -- the $5,000, $10,000, $20,000 investor. They haven t got a prayer. BRIAN ROSS (on camera) Really? TONY ELGINDY Haven t got a prayer. BRIAN ROSS (VO) It s been the talk of Wall Street. Scores of stockbrokers around the country under investigation or indicted on corruption charges. Entire brokerage firms allegedly infiltrated by mobsters to push worthless stocks. A climate of fear and violence WALL STREET CEO They looked like gangsters. BRIAN ROSS (VO) as stockbrokers in three - piece suits have come face - to - face with hoodlums in shark - skin suits. WALL STREET CEO They came in, and they basically started in a Wall Street firm. They started trying to rough people up. NASDAQ COMMERCIAL They created electronic trading. BRIAN ROSS (VO) And most of the problems have occurred with stocks connected to or overseen by what is known as NASDAQ, which specializes in small start - up companies, many of which have become huge successes like Microsoft and MCI, which produced this glowing commercial. But as we found in a 20/20 investigation, the same lenient rules that have let legitimate start - up companies sell stock have also made it easy for con men and the mob to do the same thing. (on camera) And the way it works is simple. The con men and the mob find obscure failing companies, or start their own, and then buy up the stock cheap. Then using corrupt brokers, high - pressure telephone sales and misleading press releases, they create a kind of buying frenzy, sucking in small investors and driving up the price until the crooks cash in their stock and the price collapses. GEORGE FERNHAM (PH), BUSINESSMAN We thought it was all on the up and up. BRIAN ROSS (VO) That s just what happened to this family when a broker persuaded one of them, George Fernham, a Dallas businessman, to invest thousands of dollars in an obscure company called Alco International. GEORGE FERNHAM Said it was a slam dunk. It was a sure thing. BRIAN ROSS (VO) Listed and traded on NASDAQ s second - tier market. Alco claimed to have millions of dollars in orders for a breakthrough medical device that would help protect surgeons from AIDS. GEORGE FERNHAM Twice a week, we would get literature in the mail showing how many they sold and how much money they were going to make off it and how the stock was just going to go through the ceiling. BRIAN ROSS (on camera) So when this showed up in the mailbox? GEORGE FERNHAM Happy days are here again. JANICE, ALCO INVESTOR It looked pretty legit. BRIAN ROSS (VO) George Fernham was so impressed, he recommended Alco stock to his sister - in - law, Janice, in Michigan, who then told her father, Richard Hadley (ph) about Alco. (on camera) How much did you put in to Alco? JANICE We had $11,600. RICHARD HADLEY, ALCO INVESTOR So I had to get in on it, too. I bought three different times, a total of $13,700, which is pretty good chunk of change for us. BRIAN ROSS (VO) What thousands of investors in Alco did not know until it was too late was that there were only a few sales, that the brochures were full of half truths and outright lies and that behind the scenes at Alco was a convicted con man, this man, Melvin Lloyd Richards (ph), supposedly barred by the government from dealing in stocks. But federal authorities say Richards and his associates were able to run up Alco s stock price by paying huge bribes to stockbrokers who would then push the stock to their unwitting customers. Many of the brokers worked at the same firm as Tony Elgindy. TONY ELGINDY Undeniably they were being bribed. BRIAN ROSS (on camera) You saw this yourself? TONY ELGINDY I saw cash. BRIAN ROSS How much cash? TONY ELGINDY I was able to determine that on any given month, on any given payday, it was between $100,000 to $200,000 to $300,000 in cash going out per office. BRIAN ROSS In cash bribes? TONY ELGINDY In cash. BRIAN ROSS (VO) At the time, Elgindy was an executive at the brokerage firm of Armstrong McKinley (ph) in San Diego, which came to be at the center of the Alco scandal, once Elgindy provided information to federal investigators about how the bribe scheme worked. TONY ELGINDY Instead of recommending IBM, Ford, General Motors to their customer, now they have an extra payment, extra incentive to recommend something they normally wouldn t recommend. BRIAN ROSS (on camera) Could it have been done without the bribes to the brokers? TONY ELGINDY No. Never. No. They still had no sales. Their losses were mounting ... BRIAN ROSS They had no sales, their losses were mounting, and the brokers were still pitching the stock? TONY ELGINDY Still pitching the stock. GEORGE FERNHAM When you talked to these people on the phone, the stockbrokers, you would think that they were your best friends. I mean, they -- everything was always cheery and bright. The stock is going to make you rich. Just hang in there. BRIAN ROSS (VO) These three investors did not know until we told them what was behind the collapse of their Alco stock. The last contact George Fernham says he had with his broker was when he tried to sell the stock as the price was collapsing. GEORGE FERNHAM Put me on hold, and I never heard from him again. And I ve called -- I bet I called 50 times trying to get him to come back to talk to me, and I never heard another word from him. BRIAN ROSS (on camera) At the time you wanted to sell ... ? GEORGE FERNHAM Yes, I was dead set on selling, and I couldn t sell it. TONY ELGINDY It s how much stock can you sell to the public and get away with it? How much money can you make without getting caught? BRIAN ROSS (VO) Elgindy s information helped lead to the conviction of Richards and four others on tax evasion charges, but not before investors lost more than $100 million. Richards, awaiting sentencing next month, told 20/20 he hadn t swindled or bribed anyone but declined to appear in our report. ALAN BERSIN (PH), US ATTORNEY Alco presented a classic situation where a brokerage house was captured by con men from the outside. BRIAN ROSS (VO) San Diego US attorney Alan Bersin, whose office prosecuted the Alco case, says even knowledgeable investors were taken in by the elaborate scams. ALAN BERSIN What we see here is a fairly sophisticated scheme using all of the paraphernalia of slick brochures, fast - talking sales people and a pitch that worked. BRIAN ROSS (VO) Behind it all, of course, the huge amounts of money invested every day on Wall Street, with the prices of legitimate stocks going through the roof. STUART ALLEN (PH), FORMER SEC INVESTIGATOR And illegitimate stocks going through the roof, too. BRIAN ROSS (VO) Stuart Allen, a former top criminal investigator for the Securities and Exchange Commission, says the bull market of the 1990s has overwhelmed government regulators, allowing worthless stock and corrupt brokers to flourish. STUART ALLEN Because of the sheer volume of activity in the market, this provides a perfect cover for illegal operations to take place. BRIAN ROSS (on camera) So this has been a good time to be a con man? STUART ALLEN Yes. BRIAN ROSS (VO) And along with all the bribes and corruption on Wall Street have also come threats and violence. WALL STREET CEO They came into the place. They were on a mission. They looked like something out of a movie. BRIAN ROSS (VO) This man is the chief executive officer of a Wall Street firm where a broker made the mistake of trading in a stock the mob was trying to control -- undercutting the mob s effort to drive the price up. WALL STREET CEO They walked through the firm looking for a specific person and roughing and being very crude with some of the people. And that s when they slapped him and told him to, you know, get off from making a market. I don t want you selling any. BRIAN ROSS (VO) And the mobsters got what they wanted. WALL STREET CEO It definitely shook us all up. And we really had to back off from that stock simply because they showed up. BRIAN ROSS (VO) Tony Elgindy says he s heard the same kind of threats. But so far, he has refused to back off. And what has made him so dangerous to the con men and the mob is not his gun, but something else he always carries. TONY ELGINDY I carry a tape recorder like this with me wherever I go, any conversation I have. BRIAN ROSS (on camera) And what did you get on tape? TONY ELGINDY Oh, what didn t I get on tape. BRIAN ROSS (VO) Dozens of conversations, in person and on the phone -- evidence, Elgindy says, of threats and stock manipulation, tapes now in the hands of the FBI and the IRS. ELGINDY S TAPE RECORDING You re a family man. You ve got more to lose. BRIAN ROSS (VO) Like this phone conversation, in which Elgindy says he was told that he and another man had to stop selling a particular stock, or else. ELGINDY S TAPE RECORDING I don t want to lose not even five bleep cents here with this deal here. If we have to do a number on him, we ll do a number on him. We ll bring you in, and we ll do a number on you. So this is not a threat. BRIAN ROSS (VO) In another case, Elgindy was summoned to a meeting at this suburban Dallas restaurant and once again told to stop trading in a particular stock -- this one listed on the so - called bulletin board market. ELGINDY S TAPE RECORDING This ain t coming from me. I want you to know that. I m just the messenger. BRIAN ROSS (VO) The messenger told Elgindy that eight other traders dealing in the same stock had been roughed up while watching their stock screens one day earlier, literally knocked to the floor. ELGINDY S TAPE RECORDING A lot of the traders were looking at their box yesterday, and then they were looking up at the ceiling. You understand what I mean? TONY ELGINDY He was sent over to tell me -- to get me out. BRIAN ROSS (on camera) Is this a big guy? TONY ELGINDY This -- he s a big guy, yeah. BRIAN ROSS That s quite a message? TONY ELGINDY Yes. ERIC WYNN (PH), STOCK PROMOTER Would you please drop the light from my eyes? BRIAN ROSS (VO) And it s clear the Wall Street tough guys won t hesitate to use their muscle, as we saw firsthand one night covering the case of stock promoter Eric Wynn, who, though he denies it, is a reputed associate of the Bonnano (ph) Mafia family, convicted in a stock swindling scheme. ERIC WYNN Do you see any markings on any of these people to identify who they are? Are they like little gutter thieves? BRIAN ROSS (VO) As Wynn objected to our presence, his companion moved in and roughed up our 20/20 camera crew. CAMERA CREWMAN You pushed me, man. Don t push me like that. BRIAN ROSS (VO) A rare public glimpse of what s been going on behind the scenes on Wall Street. All of which raises questions about who s watching the store. Many in law enforcement have been highly critical of the National Association of Securities Dealers, the NASD, the industry group charged by law with overseeing brokers and the stocks of companies traded on NASDAQ and bulletin board markets. STUART ALLEN There should be more emphasis on scrutiny of these companies. BRIAN ROSS (on camera) So just the fact that a stock is listed on the NASDAQ market, for you, doesn t mean everything s above board? STUART ALLEN That s right. BRIAN ROSS (VO) The top officials of NASD declined to be interviewed by 20/20. But in a statement this week, the organization says that most brokers are honest and that allegations of manipulation, fraud and bribery are aggressively investigated. That s not how these three investors see it. They ve had it with the stock market. JANICE We were very naive because we had never invested before. And I guess that you think that there are, you know, some regulations. BRIAN ROSS (on camera) And this cost you how much? JANICE $11,600. BRIAN ROSS And what is it worth today? JANICE Five dollars. GEORGE FERNHAM These guys are just running rampant over there. I mean, they didn t have a some huge operation, they had a huge scam going out there. BRIAN ROSS What do you say to the authorities who ... ? GEORGE FERNHAM You guys need to do your job. BRIAN ROSS Are there crooks out there right now issuing stock? TONY ELGINDY All over. All over. BRIAN ROSS The stock s being traded right now? TONY ELGINDY All over. BRIAN ROSS Stocks you know that are scams? TONY ELGINDY Yeah. BRIAN ROSS (VO) Scams so good, says Tony Elgindy, average investors across America had better watch out. TONY ELGINDY It s not even let the buyer beware, because they have no way to know. BARBARA WALTERS Well, Brian, the first question I think I have to ask is why is Tony doing this? He s endangering himself. BRIAN ROSS He s one of those people, Barbara, who just won t be pushed around by anyone, including the mob. BARBARA WALTERS Now, he says, look, it s not just buyer beware, you don t know. So what do you do? This is not happening with the big, well - known names that we hear ... BRIAN ROSS No, it s not. It s mostly the smaller brokerage houses that often push these stocks with cold telephone calls, telemarketing sales, pitching stocks that are new to the market, people haven t heard of, with the idea you can get in on the bottom floor and get rich quick. BARBARA WALTERS And the NASDAQ does have very good stocks. BRIAN ROSS Absolutely. There are plenty of stocks there. People have gotten a lot of money off those stocks. But there are plenty also in there that are very questionable. BARBARA WALTERS So you have to really trust and know your broker and ask a lot of questions before you just plunge in, right? BRIAN ROSS That is the best advice. BARBARA WALTERS Well, this is amazing to all of us. We didn t know it, and we ll take that advice. Thank you, Brian. HUGH DOWNS I m astounded here. Well, next, it s time to stock up on suntan lotion. But beware. You might be getting little or no protection if you buy some of the newest products on the market. Arnold Diaz has a warning and some expert advice for sun lovers, after this. (Commercial Break)
BRIAN ROSS UNIT / BRS / SHAKEDOWN ON WALL STREET CON MEN AND MOBSTERS RIP OFF SMALL INVESTORS
CS VO ON WALL STREET CON MEN SHAKING DOWN SMALL INVESTORS SEGMENT [2] 1997/05/02 ************************************************ KEYWORDS: 20/20; ACQUIRED IMMUNE DEFICIENCY SYNDROME; BRIBERY; BULLS; FRAUD; FRAUD; GENERAL MOTORS; MAFIA (COSA NOSTRA); MICROSOFT CORPORATION; ORGANIZED CRIME; SHARKS; STOCK MARKET; SUN; TAX EVASION; TELEMARKETING; US DOLLAR 22:03:41 HUGH DOWNS, ABC NEWS It s the perfect plot for a movie. But this is real life. Con men and mobsters are bullying their way into Wall Street -- threatening stockbrokers, paying bribes, doing whatever is necessary to get their hands on your money. Well, tonight, a 20/20 investigation uncovers this new crime phenomenon that s ripping off millions of dollars from small investors like you. BARBARA WALTERS, ABC NEWS True. Because the stock market is on a roll. Money is pouring in from people of all incomes who see the chance to make their money grow. But what entices them is also attracting predators bent on getting at their money -- your money. How do they do it? ABC s chief investigative correspondent Brian Ross has the exclusive inside story from a man who knows all about taking risks. TONY ELGINDY, STOCKBROKER I received a bullet in the mail -- a bullet -- with my name on it. 300 - pound guys walking into an office beating you up, making you do this, do this. It s happening. It s happening on Wall Street. That s not going to happen to me. (Gunshots) BRIAN ROSS, ABC NEWS (VO) Tony Elgindy is a 29 - year - old stockbroker who drives a Ferrari, makes and loses millions and doesn t go anywhere without his gun. TONY ELGINDY It s a small Colt 380. BRIAN ROSS (on camera) This is Wall Street in the 1990s -- threats, beatings, guns? TONY ELGINDY It s definitely there. I ve seen it close up. BRIAN ROSS (VO) Elgindy started carrying a gun and using elaborate security measures after he began cooperating with the FBI and federal prosecutors, telling what he knows about a new wave of stock swindlers and organized crime figures who have moved into Wall Street in a big way, targeting as their victims small investors across America. TONY ELGINDY They are what the scams are all about -- the $5,000, $10,000, $20,000 investor. They haven t got a prayer. BRIAN ROSS (on camera) Really? TONY ELGINDY Haven t got a prayer. BRIAN ROSS (VO) It s been the talk of Wall Street. Scores of stockbrokers around the country under investigation or indicted on corruption charges. Entire brokerage firms allegedly infiltrated by mobsters to push worthless stocks. A climate of fear and violence WALL STREET CEO They looked like gangsters. BRIAN ROSS (VO) as stockbrokers in three - piece suits have come face - to - face with hoodlums in shark - skin suits. WALL STREET CEO They came in, and they basically started in a Wall Street firm. They started trying to rough people up. NASDAQ COMMERCIAL They created electronic trading. BRIAN ROSS (VO) And most of the problems have occurred with stocks connected to or overseen by what is known as NASDAQ, which specializes in small start - up companies, many of which have become huge successes like Microsoft and MCI, which produced this glowing commercial. But as we found in a 20/20 investigation, the same lenient rules that have let legitimate start - up companies sell stock have also made it easy for con men and the mob to do the same thing. (on camera) And the way it works is simple. The con men and the mob find obscure failing companies, or start their own, and then buy up the stock cheap. Then using corrupt brokers, high - pressure telephone sales and misleading press releases, they create a kind of buying frenzy, sucking in small investors and driving up the price until the crooks cash in their stock and the price collapses. GEORGE FERNHAM (PH), BUSINESSMAN We thought it was all on the up and up. BRIAN ROSS (VO) That s just what happened to this family when a broker persuaded one of them, George Fernham, a Dallas businessman, to invest thousands of dollars in an obscure company called Alco International. GEORGE FERNHAM Said it was a slam dunk. It was a sure thing. BRIAN ROSS (VO) Listed and traded on NASDAQ s second - tier market. Alco claimed to have millions of dollars in orders for a breakthrough medical device that would help protect surgeons from AIDS. GEORGE FERNHAM Twice a week, we would get literature in the mail showing how many they sold and how much money they were going to make off it and how the stock was just going to go through the ceiling. BRIAN ROSS (on camera) So when this showed up in the mailbox? GEORGE FERNHAM Happy days are here again. JANICE, ALCO INVESTOR It looked pretty legit. BRIAN ROSS (VO) George Fernham was so impressed, he recommended Alco stock to his sister - in - law, Janice, in Michigan, who then told her father, Richard Hadley (ph) about Alco. (on camera) How much did you put in to Alco? JANICE We had $11,600. RICHARD HADLEY, ALCO INVESTOR So I had to get in on it, too. I bought three different times, a total of $13,700, which is pretty good chunk of change for us. BRIAN ROSS (VO) What thousands of investors in Alco did not know until it was too late was that there were only a few sales, that the brochures were full of half truths and outright lies and that behind the scenes at Alco was a convicted con man, this man, Melvin Lloyd Richards (ph), supposedly barred by the government from dealing in stocks. But federal authorities say Richards and his associates were able to run up Alco s stock price by paying huge bribes to stockbrokers who would then push the stock to their unwitting customers. Many of the brokers worked at the same firm as Tony Elgindy. TONY ELGINDY Undeniably they were being bribed. BRIAN ROSS (on camera) You saw this yourself? TONY ELGINDY I saw cash. BRIAN ROSS How much cash? TONY ELGINDY I was able to determine that on any given month, on any given payday, it was between $100,000 to $200,000 to $300,000 in cash going out per office. BRIAN ROSS In cash bribes? TONY ELGINDY In cash. BRIAN ROSS (VO) At the time, Elgindy was an executive at the brokerage firm of Armstrong McKinley (ph) in San Diego, which came to be at the center of the Alco scandal, once Elgindy provided information to federal investigators about how the bribe scheme worked. TONY ELGINDY Instead of recommending IBM, Ford, General Motors to their customer, now they have an extra payment, extra incentive to recommend something they normally wouldn t recommend. BRIAN ROSS (on camera) Could it have been done without the bribes to the brokers? TONY ELGINDY No. Never. No. They still had no sales. Their losses were mounting ... BRIAN ROSS They had no sales, their losses were mounting, and the brokers were still pitching the stock? TONY ELGINDY Still pitching the stock. GEORGE FERNHAM When you talked to these people on the phone, the stockbrokers, you would think that they were your best friends. I mean, they -- everything was always cheery and bright. The stock is going to make you rich. Just hang in there. BRIAN ROSS (VO) These three investors did not know until we told them what was behind the collapse of their Alco stock. The last contact George Fernham says he had with his broker was when he tried to sell the stock as the price was collapsing. GEORGE FERNHAM Put me on hold, and I never heard from him again. And I ve called -- I bet I called 50 times trying to get him to come back to talk to me, and I never heard another word from him. BRIAN ROSS (on camera) At the time you wanted to sell ... ? GEORGE FERNHAM Yes, I was dead set on selling, and I couldn t sell it. TONY ELGINDY It s how much stock can you sell to the public and get away with it? How much money can you make without getting caught? BRIAN ROSS (VO) Elgindy s information helped lead to the conviction of Richards and four others on tax evasion charges, but not before investors lost more than $100 million. Richards, awaiting sentencing next month, told 20/20 he hadn t swindled or bribed anyone but declined to appear in our report. ALAN BERSIN (PH), US ATTORNEY Alco presented a classic situation where a brokerage house was captured by con men from the outside. BRIAN ROSS (VO) San Diego US attorney Alan Bersin, whose office prosecuted the Alco case, says even knowledgeable investors were taken in by the elaborate scams. ALAN BERSIN What we see here is a fairly sophisticated scheme using all of the paraphernalia of slick brochures, fast - talking sales people and a pitch that worked. BRIAN ROSS (VO) Behind it all, of course, the huge amounts of money invested every day on Wall Street, with the prices of legitimate stocks going through the roof. STUART ALLEN (PH), FORMER SEC INVESTIGATOR And illegitimate stocks going through the roof, too. BRIAN ROSS (VO) Stuart Allen, a former top criminal investigator for the Securities and Exchange Commission, says the bull market of the 1990s has overwhelmed government regulators, allowing worthless stock and corrupt brokers to flourish. STUART ALLEN Because of the sheer volume of activity in the market, this provides a perfect cover for illegal operations to take place. BRIAN ROSS (on camera) So this has been a good time to be a con man? STUART ALLEN Yes. BRIAN ROSS (VO) And along with all the bribes and corruption on Wall Street have also come threats and violence. WALL STREET CEO They came into the place. They were on a mission. They looked like something out of a movie. BRIAN ROSS (VO) This man is the chief executive officer of a Wall Street firm where a broker made the mistake of trading in a stock the mob was trying to control -- undercutting the mob s effort to drive the price up. WALL STREET CEO They walked through the firm looking for a specific person and roughing and being very crude with some of the people. And that s when they slapped him and told him to, you know, get off from making a market. I don t want you selling any. BRIAN ROSS (VO) And the mobsters got what they wanted. WALL STREET CEO It definitely shook us all up. And we really had to back off from that stock simply because they showed up. BRIAN ROSS (VO) Tony Elgindy says he s heard the same kind of threats. But so far, he has refused to back off. And what has made him so dangerous to the con men and the mob is not his gun, but something else he always carries. TONY ELGINDY I carry a tape recorder like this with me wherever I go, any conversation I have. BRIAN ROSS (on camera) And what did you get on tape? TONY ELGINDY Oh, what didn t I get on tape. BRIAN ROSS (VO) Dozens of conversations, in person and on the phone -- evidence, Elgindy says, of threats and stock manipulation, tapes now in the hands of the FBI and the IRS. ELGINDY S TAPE RECORDING You re a family man. You ve got more to lose. BRIAN ROSS (VO) Like this phone conversation, in which Elgindy says he was told that he and another man had to stop selling a particular stock, or else. ELGINDY S TAPE RECORDING I don t want to lose not even five bleep cents here with this deal here. If we have to do a number on him, we ll do a number on him. We ll bring you in, and we ll do a number on you. So this is not a threat. BRIAN ROSS (VO) In another case, Elgindy was summoned to a meeting at this suburban Dallas restaurant and once again told to stop trading in a particular stock -- this one listed on the so - called bulletin board market. ELGINDY S TAPE RECORDING This ain t coming from me. I want you to know that. I m just the messenger. BRIAN ROSS (VO) The messenger told Elgindy that eight other traders dealing in the same stock had been roughed up while watching their stock screens one day earlier, literally knocked to the floor. ELGINDY S TAPE RECORDING A lot of the traders were looking at their box yesterday, and then they were looking up at the ceiling. You understand what I mean? TONY ELGINDY He was sent over to tell me -- to get me out. BRIAN ROSS (on camera) Is this a big guy? TONY ELGINDY This -- he s a big guy, yeah. BRIAN ROSS That s quite a message? TONY ELGINDY Yes. ERIC WYNN (PH), STOCK PROMOTER Would you please drop the light from my eyes? BRIAN ROSS (VO) And it s clear the Wall Street tough guys won t hesitate to use their muscle, as we saw firsthand one night covering the case of stock promoter Eric Wynn, who, though he denies it, is a reputed associate of the Bonnano (ph) Mafia family, convicted in a stock swindling scheme. ERIC WYNN Do you see any markings on any of these people to identify who they are? Are they like little gutter thieves? BRIAN ROSS (VO) As Wynn objected to our presence, his companion moved in and roughed up our 20/20 camera crew. CAMERA CREWMAN You pushed me, man. Don t push me like that. BRIAN ROSS (VO) A rare public glimpse of what s been going on behind the scenes on Wall Street. All of which raises questions about who s watching the store. Many in law enforcement have been highly critical of the National Association of Securities Dealers, the NASD, the industry group charged by law with overseeing brokers and the stocks of companies traded on NASDAQ and bulletin board markets. STUART ALLEN There should be more emphasis on scrutiny of these companies. BRIAN ROSS (on camera) So just the fact that a stock is listed on the NASDAQ market, for you, doesn t mean everything s above board? STUART ALLEN That s right. BRIAN ROSS (VO) The top officials of NASD declined to be interviewed by 20/20. But in a statement this week, the organization says that most brokers are honest and that allegations of manipulation, fraud and bribery are aggressively investigated. That s not how these three investors see it. They ve had it with the stock market. JANICE We were very naive because we had never invested before. And I guess that you think that there are, you know, some regulations. BRIAN ROSS (on camera) And this cost you how much? JANICE $11,600. BRIAN ROSS And what is it worth today? JANICE Five dollars. GEORGE FERNHAM These guys are just running rampant over there. I mean, they didn t have a some huge operation, they had a huge scam going out there. BRIAN ROSS What do you say to the authorities who ... ? GEORGE FERNHAM You guys need to do your job. BRIAN ROSS Are there crooks out there right now issuing stock? TONY ELGINDY All over. All over. BRIAN ROSS The stock s being traded right now? TONY ELGINDY All over. BRIAN ROSS Stocks you know that are scams? TONY ELGINDY Yeah. BRIAN ROSS (VO) Scams so good, says Tony Elgindy, average investors across America had better watch out. TONY ELGINDY It s not even let the buyer beware, because they have no way to know. BARBARA WALTERS Well, Brian, the first question I think I have to ask is why is Tony doing this? He s endangering himself. BRIAN ROSS He s one of those people, Barbara, who just won t be pushed around by anyone, including the mob. BARBARA WALTERS Now, he says, look, it s not just buyer beware, you don t know. So what do you do? This is not happening with the big, well - known names that we hear ... BRIAN ROSS No, it s not. It s mostly the smaller brokerage houses that often push these stocks with cold telephone calls, telemarketing sales, pitching stocks that are new to the market, people haven t heard of, with the idea you can get in on the bottom floor and get rich quick. BARBARA WALTERS And the NASDAQ does have very good stocks. BRIAN ROSS Absolutely. There are plenty of stocks there. People have gotten a lot of money off those stocks. But there are plenty also in there that are very questionable. BARBARA WALTERS So you have to really trust and know your broker and ask a lot of questions before you just plunge in, right? BRIAN ROSS That is the best advice. BARBARA WALTERS Well, this is amazing to all of us. We didn t know it, and we ll take that advice. Thank you, Brian. HUGH DOWNS I m astounded here. Well, next, it s time to stock up on suntan lotion. But beware. You might be getting little or no protection if you buy some of the newest products on the market. Arnold Diaz has a warning and some expert advice for sun lovers, after this. (Commercial Break)
US Shopping 2 - Traditional start to Christmas shopping season
NAME: US SHOPPING2 261104N TAPE: EF04/1157 IN_TIME: 10:00:09:00 DURATION: 00:03:08:24 SOURCES: APTN DATELINE: Various - 26 Nov 2004 RESTRICTIONS: SHOTLIST: New York City, New York 1. Exterior of Macy's department store 2. Children watching window display 3. Various of security police watching shoppers go in to store 4. Escalator shot of store decorations 5. Various of shoppers and cash registers 6. SOUNDBITE: (English) Susan Valentine, Retail analyst, The Macerich Company: "We're very excited about the fact that we have done some research recently across the United States and we found out that consumers are ready to spend four per cent more than they did last year - this same holiday season - and that equates to $609 dollars a person." 7. Woman looking at shirts on rack 8. Various of cash registers and receipts printing 9. SOUNDBITE: (English) Melody Donahue, shopper from Brooklyn: "We are going to spend more money this year because we have more money to spend. The economy is looking up." Arlington, Virginia 10. Exterior of Target Store with crowded car park 11. People pushing shopping carts full of gifts 12. Woman loading bags into car 13. SOUNDBITE: (English) Valeria Wynn, shopper from Maryland: "It's better to just get it over with, get it done early, and then you're done." 14. Wide of Discovery Zone store 15. Various of boy playing with toy robot 16. SOUNDBITE: (English) Khaleed Khyar, Discovery Zone store manager: "We do get a lot of foreign and also tourist visitors to this area, and they are actually buying a lot more than I've noticed than in past years." New York City, New York 17. Irish shoppers looking at clothes 18. SOUNDBITE: (English) Angela Shannon, shopper from Ireland: "Because everything is so cheap in comparison to Ireland, so that's why we're buying lots of stuff - Christmas presents for our kids, our husbands. It's terrific, absolutely terrific." 19. Shoppers looking at pile of shirts 20. SOUNDBITE: (English) Claire Meldrum, shopper from Scotland: "Because the pound so strong, you're automatically getting a bargain. And it's just a bonus that we came when the sales are on." Arlington, Virginia 21. Children getting on Santa's lap 22. Photographers trying to get children to smile 23. Children on Santa's lap STORYLINE: Bargain shoppers, many of them braving chilly temperatures, woke up before dawn to head for American malls and stores on Friday - the official beginning of the holiday shopping season - hoping to take advantage of early bird specials on a range of items from toys to television sets. Macy's in New York City opened its doors at 6 a.m. on Friday and by midday its bins of heavily discounted men's shirts resembled a frenzied stock-exchange trading floor. Police and security were tight outside the store, but the sight of machine guns did little to deter holiday shoppers. The day after the Thanksgiving holiday is traditionally known as "Black Friday" for retailers - the make or break day for the season and often the busiest shopping day of the year. Retail analyst Susan Valentine said consumers are feeling pretty good about the economy, and surveys show holiday spending growing by about four per cent over last year. Massive discounting due to oversupply was less likely, said other analysts, but stores rolled out "door buster" specials to lure in shoppers, including Valeria Wynn of Maryland. Wynn was seen stuffing her car full of sale items at Target in Virginia and said she hoped to get all her shopping done in one marathon session. Also out in force were tourist shoppers and those from overseas exulting in the weakness of the US dollar, giving them more buying power to load up on holiday gifts. Angela Shannon from Ireland was amazed at how far her money was going, while Claire Meldrum from Scotland was planning on bringing home loads of clothes for friends and family back in the UK. But shopping isn't the only tradition the day after Thanksgiving. Lines began forming early for parents to get pictures of their children with Santa - just in time to get them sent out with the Christmas cards - and for children to get their wish lists to St. Nick.
APTN 1830 PRIME NEWS NORTH AMERICA
AP-APTN-1830 North America Prime News -Final Thursday, 22 April 2010 North America Prime News US Oil Rig 2 01:03 AP Clients Only REPLAY At least 11 missing as oil rig explodes, night shots of rig on fire US IMF 02:33 AP Clients Only REPLAY IMF chief Dominique Strauss-Kahn on Greece Europe Passengers 03:45 Pt No Access UK/RTE/CNNi/Al Jazeera English WRAP Stranded Britons board cruise ship, Ryanair sot, Germany Iceland Volcanoes 2 03:15 AP Clients Only WRAP Aerials of dormant Katla volcano, vulcanologist, active volcano ++US Obama 03:02 AP Clients Only NEW Obama keeps up pressure for financial overhaul, trader reax Estonia NATO 03:53 AP Clients Only REPLAY NATO meeting, Clinton says US sees value in diplomatic ties to Syria US Elian 03:16 See Scripts REPLAY Tenth anniversary of raid on Elian Gonzalez's home in Miami Iran War Games 02:32 No Access Iran/ BBC Persian / VOA Persian REPLAY Iran begins war games in the Persian Gulf, Revolutionary Guard comment B-u-l-l-e-t-i-n begins at 1830 GMT. APEX 04-22-10 1456EDT -----------End of rundown----------- AP-APTN-1830: US Oil Rig 2 Thursday, 22 April 2010 STORY:US Oil Rig 2- REPLAY At least 11 missing as oil rig explodes, night shots of rig on fire LENGTH: 01:03 FIRST RUN: 1330 RESTRICTIONS: AP Clients Only TYPE: Natsound SOURCE: US Coast Guard STORY NUMBER: 643683 DATELINE: Off Louisiana - 20 April 2010 LENGTH: 01:03 US COAST GUARD - AP CLIENTS ONLY SHOTLIST ++NIGHT SHOTS++ 1. Various aerial shots of oil rig being consumed by flames with fire and smoke shooting high into the night sky STORYLINE The US Coast Guard resumed an aerial search on Thursday morning for 11 workers, missing after a massive explosion aboard an oil platform off the Louisiana coast. The Coast Guard also released new aerial video on Thursday, filmed in the hours after the initial explosion on Tuesday. The dramatic video from a Coast Guard helicopter shows the rig completely consumed by flames as fire and smoke is seen shooting high into the night sky. The air search for the missing workers was resumed at dawn after Coast Guard rescuers, helicopters and cutters, failed to reveal any signs of the missing workers overnight. Officials hoped the 11 missing workers might have been able to get to a covered lifeboat with enough supplies to survive for an extended period. The rig, where exploratory drilling was being done about 50 miles off the coast of Louisiana, exploded late on Tuesday, sending workers scurrying for safety. Seventeen people were injured in the blast, four critically, in what could be one of the nation's deadliest offshore drilling accidents of the past half-century. The Coast Guard said the 17 taken by air or sea to hospitals suffered burns, broken legs and smoke inhalation. Meanwhile, survivors of the explosion were being reunited with their families at a suburban New Orleans hotel early on Thursday. About 100 workers who made it to a supply boat after Tuesday night's explosion, arrived in Port Fourchon earlier Thursday where they were checked by doctors. The rig is owned by Transocean Limited and was under contract to oil giant BP. Authorities could not say when the flames might die out on the 400-by-250-foot (122-by-76 metre) rig, which is roughly twice the size of a football field, according the Transocean's website. A column of boiling black smoke rose hundreds of feet over the Gulf of Mexico as fireboats shot streams of water at the blaze. Officials said the damage to the environment appeared minimal so far. Adrian Rose, vice president of Transocean, said the explosion appeared to be a blowout, in which natural gas or oil forces its way up a well pipe and smashes the equipment. Precisely what went wrong, however, was still under investigation. A total of 126 workers were aboard. Seventy-nine were Transocean workers, six were BP employees and 41 were contracted. Rose said the Deepwater Horizon crew had drilled the well to its final depth, more than 18-thousand feet (5.5 kilometres), and was cementing the steel casing at the time of the explosion. According to Transocean's website, the rig was built in 2001 in South Korea and is designed to operate in water up to 8-thousand feet deep (2.4 kilometres) and accommodate a crew of 130. It floats on pontoons and is moored to the sea floor by several large anchors. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1429EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: US IMF Thursday, 22 April 2010 STORY:US IMF- REPLAY IMF chief Dominique Strauss-Kahn on Greece LENGTH: 02:33 FIRST RUN: 1630 RESTRICTIONS: AP Clients Only TYPE: English/Nat SOURCE: AP TELEVISION STORY NUMBER: 643673 DATELINE: Washington DC - 22 April 2010 LENGTH: 02:33 AP TELEVISION - AP CLIENTS ONLY SHOTLIST 1. Wide of International Monetary Fund (IMF) news conference 2. Cutaway of photographer 3. SOUNDBITE (English) Dominique Strauss-Kahn, International Monetary Fund (IMF) Managing Director: "It's clear that the Greek situation is a very serious one and we are very much concerned. It's a serious one for the question of macroeconomic stability of Greece and even more than Greece, it's also a very serious question for the Greek people." 4. Cutaway of media 5. SOUNDBITE (English) Dominique Strauss-Kahn, International Monetary Fund (IMF) Managing Director: "There's no way, no silver bullets to solve it in an easy manner. So we will have all together; the Europeans, the Greeks, the Greek authorities I mean, but also the Greek people and all of part of the society, the unions, the business union, everybody and the IMF to find together the best way to put Greece back on track." 6. Wide of Strauss-Kahn at news conference 7. SOUNDBITE (English) Dominique Strauss-Kahn, International Monetary Fund (IMF) Managing Director: "We expect to contemplate over time some revaluation of the currency, just in the interest of the Chinese economy itself because when you have a more domestic led growth model, you want to fight inflation, you want to need, to give more purchasing power to your consumers and this goes along with higher value of the Renminbi (Chinese yuan, also known as the renminbi). So I'm not expecting that it is going to happen overnight but I think that's the medium term strategy that I will advise the Chinese authorities to follow and I think they will follow, not because I am advising it but because it's in their own interest." 8. Cutaway of media 9. SOUNDBITE (English) Dominique Strauss-Kahn, International Monetary Fund (IMF) Managing Director: "It will be totally wrong to argue that because of the stimulus you have an increase in the debt ratio. Because of the stimulus you had more growth and less increase in the debt ratio that we would have had without the stimulus and that I think is a very very important point. The other point is of course our main concern today; has to do with unemployment and the answer I gave to your Canadian colleague is that one of the threat, not only one of the concern but a threat to the recovery. One of the concern because it means the crisis is not over but one of the threat because with high unemployment you have high, sorry have low private demand and this low private demand may be one of the reasons why the recovery doesn't go fast enough." 10. Wide of Strauss-Kahn at news conference STORYLINE The head of the International Monetary Fund said on Thursday that the debt crisis in Greece is serious and there would be no "silver bullet" to resolve the issue in an easy manner. IMF Managing Director Dominique Strauss-Kahn said that negotiations with the IMF over conditions for a support package were just beginning and would take some time to come to a resolution. But Strauss-Kahn told reporters that the IMF was not considering some type of restructuring of Greek debt that would make holders of the debt accept something less than full value for their loans. That worry has roiled markets in recent days. "It is clear that the Greek situation is a very serious one," Strauss-Kahn said. "There is no single way, no silver bullet to solve it in an easy manner." Strauss-Kahn spoke in advance of discussions over the next three days among global finance officials including finance ministers and central bank governors of the Group of 20 nations, which include the world's richest industrial countries and major developing nations such as China, Brazil, India and Russia. While markets slammed Greece on Thursday after the European Union revised the country's deficit and debt figures, Strauss-Kahn said that for the IMF team negotiating the terms of financial support, the changes would just mean that "if the problems start a little worse than expected, we will take this into account." Also on Thursday, ratings agency Moody's Investor Services downgraded its rating on Greece's debt by one notch to A3 from A2, and warned that further downgrades were a distinct possibility. Moody's downgrade was likely to make it even more difficult for the cash-strapped Greek government to tap the bond markets for money. The government has insisted that it prefers to access money via the markets to meet its borrowing requirements instead of resorting to a joint eurozone-International Monetary Fund rescue package. Greek Finance Minister George Papaconstantinou was headed to Washington and was scheduled to meet with Strauss-Kahn on Saturday. The Greek government is holding talks with the IMF, the European Central Bank and the European Commission in an effort to develop a three-year debt rescue package for the country. On China, Strauss-Kahn said he would advise Chinese officials to a revaluation of the Renminbi (Chinese yuan). He said he thought the Chinese would follow his advise" not because I am advising it but because it's in their own interest." Strauss-Kahn said while the finance meetings were being held at a time when the global economy appeared to be on a recovery path, a number of challenges remained which finance officials would need to address. The IMF reported on Thursday that the global economy would expand this year by 4.2 percent, slightly better than the IMF's view in January, and significantly better than the 0.6 percent drop in global growth that occurred last year, the largest slump in the post Word War II period. He said it would be important for the G-20 leaders to push ahead with efforts to overhaul financial regulations, making sure that each country's reforms were compatible with the global system. An IMF briefing paper that recommends adopting new banks taxes is expected to provide a basis for the discussions with the G-20 finance officials meet on Friday. Strauss-Kahn also pointed to high unemployment rates, particularly in some advanced countries, and lower private sector demand as two of the main reasons of concern for the global economy. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1429EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: Europe Passengers Thursday, 22 April 2010 STORY:Europe Passengers- WRAP Stranded Britons board cruise ship, Ryanair sot, Germany LENGTH: 03:45 FIRST RUN: 1230 RESTRICTIONS: Pt No Access UK/RTE/CNNi/Al Jazeera English TYPE: Eng/Spa/Ger/Nat SOURCE: AP TELEVISION/SKY STORY NUMBER: 643672 DATELINE: Various - 22 April 2010 LENGTH: 03:45 AP TELEVISION - AP CLIENTS ONLY SKY - NO ACCESS UK/RTE/CNNI/AL JAZEERA ENGLISH SHOTLIST: (FIRST RUN 0830 EUROPE PRIME NEWS - 22 APRIL 2010) AP TELEVISION - AP CLIENTS ONLY Bilbao, Spain - 22 April, 2010 1. Wide pan from ship to line of coaches 2. People gathered around the buses 3. Travellers being handed luggage forms 4. Man filling out form on a suitcase ++NEW (FIRST RUN 1130 ME EUROPE PRIME NEWS - 22 APRIL 2010) AP TELEVISION - AP CLIENTS ONLY Bilbao, Spain - 22 April, 2010 5. Various of people boarding cruise ship 6. Wide of cruise ship ++NEW (FIRST RUN 1130 ME EUROPE PRIME NEWS - 22 APRIL 2010) AP TELEVISION - AP CLIENTS ONLY Madrid, Spain - 22 April, 2010 7. Various of passengers queuing at the Ryanair check in at Barajas Airport 8. SOUNDBITE: (English) Sebastian Pass, Ryanair passenger: "Well, you pay a lot for the flights and I hope that the company are taking care of their customers. Ryanair, it's different - you pay a very cheap price so it's just like they take you from one point to another point and that's all." 9. Cutaway of Ryanair flight board 10. SOUNDBITE: (Spanish) Miguel Perez, Ryanair passenger: "I think it's savage! This is a joke. If you fly with Ryanair because it is cheap and then you have to spend 400 or 500 Euros (534 - 667 US dollars) to stay here or to come back to your country it is a joke. We should denounce it." 11. Ryainair check in desk (FIRST RUN 1130 ME EUROPE PRIME NEWS - 22 APRIL 2010) SKY - NO ACCESS UK/RTE/CNNI/AL JAZEERA ENGLISH Dublin, Ireland - 22 April, 2010 12. SOUNDBITE: (English) Michael O'Leary, Ryanair Chief Executive: "We've never refused to pay, we just said yesterday we would propose to limit the payments to the ticket price paid. It's gone off, we're clearly in a hole this morning and I think the best thing you do when you're in a hole is stop digging. So we've said today we'll comply with EU261 regulations, it means we will reimburse reasonable receipted expenses from disrupted passengers if they send them to us, but we will not be paying compensation because the EU261 says no compensation arises if the cancellations are not the fault of the airlines - which is clearly the case in this case." ++NEW (FIRST RUN 1230 NEWS UPDATE - 22 APRIL 2010) AP TELEVISION - AP CLIENTS ONLY Berlin, Germany - 22 April, 2010 13. Wide of Berlin Tiegel airport control tower 14. Various Lufthansa planes on tarmac 15. Workers unloading baggage from landed plane 16. Various of airport arrivals board showing landed flights 17. Various of passengers inside airport 18. SOUNDBITE (German) Heidrun Goldberg, tourist returning from Thailand: "We extended our vacation by five days and we enjoyed it. We found an inexpensive clean hotel and we do not expect any compensation for it at all." 19. Passengers at information counter 20. SOUNDBITE (German) Luana Santos, passenger bound for Brazil: "At the moment costs do not matter. My mother died in Brazil and I was supposed to be there three days ago. Costs have increased but I'm happy to get there now and that's all that matters." 21. Worker and Brussels Airlines plane on runway 22. Lufthansa plane taking off STORYLINE Stranded European passengers were steadily streaming home on Thursday, as airports sent thousands of planes into the sky after a week of unprecedented disruptions caused by the volcanic ash cloud from Iceland. Nearly all of the continent's 28-thousand scheduled flights were going ahead, with every plane packed to capacity as airlines squeezed in some of the hundreds of thousands of travellers who had been stranded for days among passengers with regular Thursday tickets. Other forms of transportation were still very much in use however with a new 500 (m) million UK pounds (772 (m) million US dollar) luxury cruise ship arriving in Bilbao, Spain, to pick up more than 2,500 stranded British tourists. Crew members from the Celebrity Eclipse helped weary passengers on board the 122,000 ton liner, which had been dispatched from Southampton the previous night. The liner had been preparing for a two-day inaugural cruise but was diverted to come to the aid of the passengers, some of whom had been stranded abroad for seven days and had waited all night for the ship to arrive. The Eclipse though should provide travellers with some luxury after their ordeal. Equipped to carry 2,850 passengers, the liner has numerous bars, ten restaurants, a casino, a theatre and swimming and spa pools. The passengers are just some of many desperate travellers who have been piling onto buses, trains and ferries, with thousands converging on the French port of Calais in a bid to get home. Spain has also become a magnet for wayward travellers because its airports mostly remained opened during the crisis. Spain arranged for more than 600 special flights, including 316 on Wednesday alone, to help move an estimated 90-thousand stranded passengers out over the past three days. Meanwhile, budget airline Ryanair has done a surprise U-turn and agreed to pay the hotel and food bills of tens of thousands of customers left stranded during Europe's volcano-ash crisis. A Ryanair spokesman said on Thursday that the airline acknowledged it got European law wrong when it initially vowed to limit customers' claims to the original cost of their air fare. The reversal of policy means Ryanair will be expected to pay out claims to a minority of the airline's approximately one (m) million customers who suffered cancelled flights over the past week. Ryanair said it would reimburse receipted expenses only to customers who did not request a ticket refund or make alternative travel plans, which would comply with European consumer law. Speaking in Dublin on Thursday, Ryanair Chief Executive Michael O'Leary said: "We've never refused to pay, we just said yesterday we would propose to limit the payments to the ticket price paid. It's gone off, we're clearly in a hole this morning and I think the best thing you do when you're in a hole is stop digging." Airlines expect losses topping two billion (b) US dollars and have sharply criticised European governments' handling of the disruption that grounded thousands of flights on the continent. For the last six days most flights had been cancelled due to the volcanic eruption in Iceland on the 14 April which sent a plume of ash across Europe, bringing many airlines to a grinding halt. The crisis left (m) millions in flightless limbo, creating debilitating losses for airlines and other industries. Most of Europe's airspace was reopened on Wednesday after the vast, invisible ash-laden cloud dispersed to levels deemed safe, but airlines have been struggling to meet demand after a week of crippled air travel. With a massive flight backlog, officials say it could take over a week to get everyone home. However in Germany, passengers and aviation officials were in a cheerful mood on Thursday, praising a quicker than expected return to normal. German air controllers expected about 8-thousand flights to pass through on Thursday, compared with some 10-thousand on an average day. The news however was not as positive in Scandinavia as shifting winds sent a new plume of volcanic ash over Scandinavia, forcing some airports in Norway and Sweden to close again. The new airspace restrictions applied to northern Scotland and parts of southern Norway, Sweden and Finland, a spokeswoman for Eurocontrol, the European air traffic agency said. Scientists at Iceland's meteorological office meanwhile said the Eyjafjallajokull volcano produced very little ash on Thursday but remained quite active, with magma boiling in the crater. The plume of ash was below 10-thousand feet (3 kilometres) and winds were not expected to take it over 20-thousand feet (6 kilometres). Scientists said volcanic ash was expected to fall south and southwest of the crater in southern Iceland in the coming days, but would not disrupt air travel between Europe and North America. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1430EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: Iceland Volcanoes 2 Thursday, 22 April 2010 STORY:Iceland Volcanoes 2- WRAP Aerials of dormant Katla volcano, vulcanologist, active volcano LENGTH: 03:15 FIRST RUN: 1330 RESTRICTIONS: AP Clients Only TYPE: Icelandic/Eng/Nat SOURCE: AP TELEVISION STORY NUMBER: 643684 DATELINE: Eyjafjallajokull/Hvolsvollur/Vik - 21 April 2010 LENGTH: 03:15 AP TELEVISION - AP CLIENTS ONLY SHOTLIST ++NEW (FIRST RUN 1330 EUROPE PRIME NEWS - 22 APRIL 2010) Hvolsvollur - April 22, 2010 1. Various shots of Eyjafjalla volcano partly covered by low cloud 2. Set up shots of vulcanologist, Bryndis Brandsdottir, on the phone 3. SOUNDBITE: (English) Bryndis Brandsdottir, Vulcanologist: "What happened last week was unexpected. We did not expect the tephra (ash) fall in this amount. But I am a seismologist and I monitored the volcano closely using seismic stations. And presently, you know, there are no major earthquakes in the volcano. Very small earthquake activity. But we have some tremors indicating that the eruption is still ongoing." 4. Various shots of Eyjafjalla volcano (FIRST RUN 1230 NEWS UPDATE - 22 APRIL 2010) Eyjafjallajokull glacier - April 21, 2010 5. Various aerial shots of the Katla volcano Hvolsvollur - April 22, 2010 6. SOUNDBITE (English) Bryndis Brandsdottir, Vulcanologist: "We are closely monitoring all of our volcanoes with both geodetic and seismic instrumentation, and presently there is no earthquake activity in Katla, indicating that the volcano is quiet. It has been seismically active in recent years just like Eyjafjalla and this indicates that it's alive, but once it erupts, it lies beneath very thick glacier, so most of the tephra (ash) will be washed away." 7. Various shots of glacier 8. Various shots of volcanic beach Vik - April 21, 2010 9. Various shots of Vik village 10. Various shots of family at home 11. Mid shot of family at home 12. SOUNDBITE (Icelandic) Gudmundur Guageirsoon, Bookkeeper: "We are not afraid of Katla. We respect her. We know she is there. We are not sure when she will start erupting, but it will happen some day." 13. Mid shot of family at home STORYLINE: As the eruption of Iceland's Eyjafjalla volcano appeared to decrease in intensity on Thursday, local scientists said they were closely monitoring nearby sister volcano, Katla. Katla, which lies under a glacier, has been dormant since 1918 but its activity is sometimes linked to that of Eyjafjalla. However, vulcanologist Bryndis Brandsdottir, said on Thursday that having monitored Katla there was no indication of "earthquake activity" at this stage. Residents of the nearby village of Vik live practically under the shadow of Katla. In 1918, a large eruption melted the Myrdalsjokull glacier, flooding the village which was then coated in thick ash. Retired farmer Einar Kjaransson was born in Vik and says his mother used to tell the story of how the village was partially destroyed by the fury of Katla. European airports resumed flights on Thursday after a week of unprecedented disruptions, but shifting winds sent a new plume of volcanic ash over Scandinavia, forcing some airports in Norway and Sweden to close again. Brandsdottir said the eruption of Eyjafjalla was "unexpected," and that the volcano's activity continued to decrease. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1430EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: ++US Obama Thursday, 22 April 2010 STORY:++US Obama- NEW Obama keeps up pressure for financial overhaul, trader reax LENGTH: 03:02 FIRST RUN: 1830 RESTRICTIONS: AP Clients Only TYPE: English/Nat SOURCE: AP TELEVISION/POOL STORY NUMBER: 643699 DATELINE: Various - 22 April 2010 LENGTH: 03:02 AP TELEVISION - AP CLIENTS ONLY POOL - AP CLIENTS ONLY SHOTLIST: AP Television - AP Clients Only New York City - 22 April 2010 1. Wide exterior New York Stock Exchange 2. Tight shot exterior of NYSE 3. Mid of traders inside the NYSE watching Obama's speech on screen 4. Mid of traders POOL - AP Clients Only New York City - 22 April 2010 5. SOUNDBITE (English) Barack Obama, US President: "I believe in the power of the free market. I believe in a strong financial sector that helps people to raise capital, and get loans and invest their savings. That is part of what has made America what it is, but a free market was never meant to be a free licence to take whatever you can get, however you can get it." AP Television - AP Clients Only New York City - 22 April 2010 6. Pan of traders watching Obama's speech POOL - AP Clients Only New York City - 22 April 2010 7. SOUNDBITE (English) Barack Obama, US President: "... because ultimately there is no dividing line between Main Street and Wall Street; we will rise or we will fall together as one nation." AP Television - AP Clients Only New York City - 22 April 2010 8. Pan left of traders watching Obama's speech to television screen POOL - AP Clients Only New York City - 22 April 2010 9. SOUNDBITE (English) Barack Obama, US President: "We will not always see eye to eye. We will not always agree, but that does not mean that we've got to choose between two extremes. We do not have to choose between markets that are unfettered by even modest protections against crisis, or markets that are stymied by onerous rules that suppress enterprise and innovation. That is a false choice." AP Television - AP Clients Only New York City - 22 April 2010 10. Zoom out from Obama's speech on TV to NYSE traders watching the speech 11. Pan down from NYSE board to traders 12. SOUNDBITE (English) Bernie McSherry, Cuttone & Company: "You know, I think the speech was not the scolding that many of us had expected it to be; it was more a statement of purpose of what they were trying to accomplish. I think some folks would prefer to have heard more about individual personal responsibility on the behalf of some of Americans for their behaviour. But over all it was a moderate speech, and it was not the attack on Wall Street that many of us had feared." 13. Pan of traders 14. SOUNDBITE (English) Doreen Mogavero, Mogavero, Lee & Company: "The speech was inarguable. You know, you couldn't really find too much wrong with it. But I do think that we need to see the details, because as you know when the pendulum swings too far in either direction there's always a correction necessary." 15. Wide exterior of the NYSE, tilt down AP Television - AP Clients Only Washington, DC - 22 April, 2010 16. SOUNDBITE (English) Douglas J. Elliott, Brookings Institution: "I thought it was a good speech, and the message was fairly predictable. The administration has had its views on this fairly consistently for over a year; it makes sense the President is pushing it hard now. You know, the thing is, it makes policy sense, but it also makes political sense. This is going to get passed, it will be viewed as a victory, and it's more of his victory the more he is out front." POOL - AP Clients Only New York - 22 April, 2010 17. Wide of Obama finishing his speech and leaving to applause STORYLINE: US President Barack Obama rebuked Wall Street on Thursday for risky banking practices, even as he sought its leaders' help to devise banking regulations to head off any new financial crisis. "Ultimately there is no dividing line between Main Street and Wall Street. We rise or we fall together as one nation," he said, and urged the finance sector to join him in his efforts. Obama made the important speech in New York, not far from the nation's financial hub of Wall Street. Many of the traders on the floor of the New York Stock Exchange stopped trading to watch the speech on television. Obama told the audience, which included many of the nation's top bankers, he was not against the free market. "I believe in the power of the free market. I believe in a strong financial sector that helps people to raise capital, and get loans and invest their savings. That is part of what has made America what it is, but a free market was never meant to be a free licence to take whatever you can get, however you can get it," said Obama. Obama's speech came at a delicate time in negotiations over the Senate measure, which could be debated next week. The House has passed its own version of financial overhaul legislation. Obama did not say which one he favoured but told an audience that included dozens of financial leaders that both bills represented "significant improvement on the flawed rules we have in place today." Obama said the choice was not a choice of extremes. "We will not always see eye to eye. We will not always agree, but that does not mean that we've got to choose between two extremes. We do not have to choose between markets that are unfettered by even modest protections against crisis, or markets that are stymied by onerous rules that suppress enterprise and innovation. That is a false choice," said Obama. On the NYSE floor, Bernie McSherry, of Cuttone & Company, said he was happy that Obama had not been too hard on Wall Street. "I think the speech was not the scolding that many of us had expected it to be; it was more a statement of purpose of what they were trying to accomplish. I think some folks would prefer to have heard more about individual personal responsibility on the behalf of some of Americans for their behaviour. But over all it was a moderate speech, and it was not the attack on Wall Street that many of us had feared," said McSherry. Doreen Mogavero, of Mogavero, Lee & Company, watched Obama's speech from inside the NYSE. "The speech was inarguable. You know, you couldn't really find too much wrong with it. But I do think that we need to see the details, because as you know when the pendulum swings too far in either direction there's always a correction necessary," she said. Obama's speech was an effort to ramp up pressure on Congress. Former investment banker, Douglas Elliot, who is now a fellow at the Brookings Institution, believes new regulatory rules are going to be passed by Congress and no matter what the law looks like it will be viewed as a political victory of the President. "I thought it was a good speech, and the message was fairly predictable. The administration has had its views on this fairly consistently for over a year; it makes sense the President is pushing it hard now. You know, the thing is, it makes policy sense, but it also makes political sense. This is going to get passed, it will be viewed as a victory, and it's more of his victory the more he is out front," said Elliot. Obama gave his speech in the hall where Abraham Lincoln in February 1860 spelled out his position on freedom and slavery ahead of the presidential campaign that year. It also came just six days after the Securities and Exchange Commission's fraud case against the huge investment bank Goldman Sachs. The sweeping regulation proposal represents the broadest attempt to overhaul the U.S. financial system since the 1930s, and aims to prevent another crisis. It would create a mechanism for liquidating large, interconnected financial firms whose sudden collapse could shake the economy. At the height of the crisis in 2008, the Bush administration and the Federal Reserve provided billions of taxpayer dollars to prop up the giant insurer American International Group Incorporated, several banks and various financial institutions considered too big to fail. The moves were highly unpopular with voters. The bills also, for the first time, would impose oversight on the market for derivatives - complicated financial instruments whose value is derived from the value of other investments. The measures also would create a council to detect threats to the broader financial system and establish a consumer protection agency to police consumers' dealings with banks and other financial institutions. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1601EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: Estonia NATO Thursday, 22 April 2010 STORY:Estonia NATO- REPLAY NATO meeting, Clinton says US sees value in diplomatic ties to Syria LENGTH: 03:53 FIRST RUN: 1330 RESTRICTIONS: AP Clients Only TYPE: English/Nat SOURCE: AP TELEVISION STORY NUMBER: 643681 DATELINE: Tallinn - 22 April 2010 LENGTH: 03:53 AP TELEVISION - AP CLIENTS ONLY SHOTLIST: 1. Various of Tallin skyline 2. Exterior of Estonian Foreign Ministry building 3. Estonian Foreign Minister Urmas Paet and US Secretary of State Hillary Rodham Clinton entering 4. Cutaway of cameraman 5. Paet and Clinton shaking hands 6. Cutaway of media 7. Paet and Clinton heading for talks 8. Cutaway of media 9. Paet and Estonian delegates seated in board room 10. Wide of delegates at meeting 11. Mid of Clinton 12. Cameraman 13. Clinton taking her seat for news conference 14. Close of Clinton 15. SOUNDBITE (English) Hillary Rodham Clinton, US Secretary of State: "First, with respect to the bases, we have been given assurance by the new leadership in Kyrgyzstan that the United States will retain access to the Manas airbase. We have also discussed this with the Russians because as you may know the Russians have agreed to permit us to transport assistance and troops across their airspace and across their territory for Afghanistan and I guess the immediate destination of a lot of this material is the Manas airbase so would not make sense that they would give us the go ahead to cross their territory and not support the continued use by the United States of the Manas airbase. So as of today, we see no problem with our continuing access to and utilisation of that base in Kyrgyzstan." 16. Cutaway of media 17. SOUNDBITE (English) Hillary Rodham Clinton, US Secretary of State: "So the actions of Iran speak louder than the words and the recent statements are of a theme that we hear frequently from Iranian leaders. There is a very simple way out of this, Iran needs to fully comply with its obligations under the NPT (Nuclear Non-Proliferation Treaty). Iran needs to respond to the frequent concerns articulated by the IAEA (International Atomic Energy Agency), by the United Nations Security Council. Iran needs to become what it professes to be, a country interested only in the peaceful use of nuclear energy." 18. Cutaway of cameraman 19. SOUNDBITE (English) Hillary Rodham Clinton, US Secretary of State: "We would like to have a more balanced and positive relationship with Syria as do other of its neighbours from Egypt to Saudi Arabia. We would like to see Syria play a more constructive role and engage in an effort to resolve its outstanding conflict with Israel. We would like to see Syria refrain from interfering in and potentially destabilising the government of Lebanon." 20. Cutaway of media 21. Clinton leaves news conference 22. Exterior of flags outside Foreign Ministry building STORYLINE: Kyrgyzstan's new administration and Russia have given Washington assurances that the United States will be able to continue using a crucial air base for the war effort in Afghanistan, U.S. Secretary of State Hillary Rodham Clinton said on Thursday. "We have been given assurances by the new leadership in Kyrgyzstan that the United States will retain access to the Manas air base," Clinton told reporters on the sidelines of a NATO summit in Estonia. The Manas base is a key refuelling point for war jets flying over Afghanistan and a major hub for combat troop movement. On Saturday a top official in Kyrgyzstan's new interim government told The Associated Press that the United States' presence on the base is "not justified" - the first sign of significant divisions in the Central Asian country's new administration over the facility. Clinton said, however, she saw "no problem" with the continued use of the base. She said Washington had discussed the issue with Russia, which also has a military base in Kyrgyzstan and historically has been suspicious of US military presence in the region. Moscow has allowed the Pentagon to transport materials and troops destined for Afghanistan across Russian airspace, Clinton noted. Kyrgyzstan's interim leader Roza Otunbayeva has criticised the United States in the past for supporting the deposed President Kurmanbek Bakiyev, but said her government would extend the lease on the air base for another year after the current one expires in July. Clinton also spoke about the Iranian nuclear issue, saying that the country needed to "fully comply" with the Nuclear Non-Proliferation Treaty. "Iran needs to become what it professes to be, a country interested only in the peaceful use of nuclear energy," Clinton added. The US Secretary of State also indicated that the Obama administration is still committed to improving relations with Syria, despite unconfirmed claims that the nation is aiding the Iranian-backed Hezbollah militia in neighbouring Lebanon. Some US senators have threatened to hold up the confirmation of the administration's choice for US ambassador to Syria - career diplomat Robert Ford - because of unconfirmed reports that Syria was transferring Scud missiles to the Hezbollah militia in Lebanon. Clinton did not confirm the reports. Without mentioning Scuds or Iran, which many believe is the source of the missiles, she described the situation in a way that strongly suggested that the US does not believe Scuds have been transferred to Hezbollah yet. "We would like to see Syria refrain from interfering in and potentially destabilising the government of Lebanon," Clinton said. Israel, which regards Hezbollah as a major threat, has accused Syria of providing the group with Scuds. A Scud has a far longer range and can carry a much bigger warhead than the rockets Hezbollah has used in the past, and could reach anywhere in Israel from Hezbollah bases in southern Lebanon. Syria has denied the charge, as has Lebanon's Western-backed prime minister. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1447EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: US Elian Thursday, 22 April 2010 STORY:US Elian- REPLAY Tenth anniversary of raid on Elian Gonzalez's home in Miami LENGTH: 03:16 FIRST RUN: 1730 RESTRICTIONS: See script TYPE: Spanish/English/Natsound SOURCE: AP TELEVISION/ABC/AP PHOTOS STORY NUMBER: 643705 DATELINE: Miami - 20 April 2010/FILE LENGTH: 03:16 AP TELEVISION - AP CLIENTS ONLY AP Photos - No Access Canada/For Broadcast use only - Strictly No Access Online or Mobile ABC - No Access North America/internet SHOTLIST: AP TELEVISION - AP Clients Only Miami, Florida, US - 20 April, 2010 ++MUTE+++ 1. Various exteriors of Elian Gonzalez's relatives' house in Little Havana, now a museum 2 Interior house, glass case showcasing magazine covers with coverage of Elian Gonzalez story 3. Pan from gouge in wall to wardrobe where Elian was seized by US agents AP Photos - No Access Canada/For Broadcast use only - Strictly No Access Online or Mobile FILE: Miami, Florida, US - April 2000 4. STILL: armed SWAT agents during raid on house to remove Elian to return to Cuba, heavily armed agent pointing machine gun at Elian and Donato Dalrymple, the fisherman who had found him, in wardrobe AP TELEVISION - AP Clients Only Miami, Florida, US - 20 April, 2010 5. Delfin Gonzalez, Elian's great-uncle, walks into house where Elian was snatched, that he maintains as a museum 6. Gonzalez showing the closet where Elian was taken by federal officials ten years ago 7. Pan up of Elian's bedroom, many soft toys 8. SOUNDBITE (Spanish) Delfin Gonzalez, Elian's great uncle "I said several times that we would not deliver him anywhere and that if they wanted they could come and get him, and then pay the political consequences of raiding a house." 9. Various establishing shots of Kendall Coffey, attorney who represented Elian's Miami family 10. SOUNDBITE: (English) Kendall Coffey, Attorney for Elian Gonzalez's Miami relatives "The Republican presidential vote among Cuban Americans was a significantly greater margin in 2000 than it was in 1996 or even in 2004. There is no doubt that in the minds of many in this community, the Democratic administration had to be accountable for what was seen as a terrible treatment of a child and a terrible treatment of the child's family." ABC - No Access North America/internet FILE: Miami, Florida, US - April 2000 +++NIGHT SHOTS+++ 11. Elian Gonzalez being taken from house by federal agents in raid and put in car, door closed, AUDIO: screaming and shouting 12. Angry man throwing stool at vehicle 13. Federal officers around car, car pulls away AP Television - AP Clients Only FILE: Havana, Cuba - Early 2000 (exact date unknown) 14. Wide shot people marching and chanting (Spanish) "Return our son," Cuban flag and poster in background with Elian Gonzalez's picture and sign (Spanish) "Return Elian to the homeland" 15. Rear medium shot women marching, holding placard with picture of Elian 16. Female relatives of Elian marching wearing T-shirts with photo of Elian AP Television - AP Clients Only FILE: Havana, Cuba - June 28, 2000 17. Various of Elian Gonzalez's return to Cuba, at Havana airport, welcome committee, people embracing him AP Television - AP Clients Only FILE: Havana, Cuba - January, 2004 18. Medium shot Elian Gonzalez with Fidel Castro, then President of Cuba AP Television - AP Clients Only FILE: Cardenas, Matanzas, Cuba - December 6, 2004 19. Zoom out Fidel Castro with Elian and his relatives 20. Medium shot Fidel Castro and Elian blowing out birthday cake candle AP Television - AP Clients Only FILE: Cardenas, Matanzas, Cuba - December 6, 2006 21. Medium shot Raul Castro entering theatre with Elian Gonzalez and people clapping 22. Medium shot Raul Castro, Elian and Juan Miguel Gonzalez, Elian's father AP Television - AP Clients Only FILE: Havana, Cuba - April 3, 2010 23. Elian Gonzalez speaking in the Cuban Communist Youth Congress STORYLINE: When US federal agents stormed a home ten years ago in the Little Havana community of Miami, Florida, and snatched Elian Gonzalez from his father's relatives to return him to his father in Cuba, thousands of Cuban-Americans took to Miami's streets. Their anger helped give George W. Bush the White House months later and simmered long after that. "The Republican presidential vote among Cuban Americans was a significantly greater margin in 2000 than it was in 1996 or even in 2004. There is no doubt that in the minds of many in this community the Democratic administration had to be accountable for what was seen as a terrible treatment of a child and a terrible treatment of the child's family," said Kendall Coffey, a former U.S. attorney who represented Elian's Miami relatives. The family said the political repercussions were predictable. "I said several times that we would not deliver him anywhere and that if they wanted they could come and get him, and then pay the political consequences of raiding a house," said Elian's great uncle Delfin Gonzalez. Elian was just shy of his sixth birthday when a fisherman found him floating in an inner tube in the waters off Fort Lauderdale, Florida on 25 November 1999. His mother and others drowned trying to reach the US. Elian's father, who was separated from his mother, remained in Cuba, where he and Fidel Castro's communist government demanded the boy's return. Elian was placed in the home of his great-uncle, Lazaro Gonzalez, while the Miami relatives and other Cuban exiles went to court to fight an order by US immigration officials to return him to Cuba. Ten years later, the Little Havana home - which for weeks was the epicentre of a standoff that divided the US - is a museum dedicated to Elian's brief time in this country, but visitors are rare. Janet Reno, President Bill Clinton's attorney general and a Miami native, insisted the boy belonged with his father. When talks broke down, she ordered the raid carried out April 22, 2000, the day before Easter. Her then-deputy, current US Attorney General Eric Holder, has said she wept after giving the order. Associated Press photographer Alan Diaz captured the memorable image of Donato Dalrymple, the fisherman who had found the boy, backing into a bedroom closet with a terrified Elian in his arms as an immigration agent in tactical gear inches away aimed his gun towards them. The image won the Pulitzer Prize and brought criticism of the Justice Department to a frenzy. Lazaro Gonzalez declined to comment, as did his daughter, Marisleysis, who became Elian's surrogate mother during his US stay. The Justice Department has never released the identity of the agent and did not immediately respond to an AP request this week for the agent's name. More than 300 protesters were arrested in the hours after the raid, and the community's outrage did not subside. Al Gore, the sitting vice president, lost Florida that November to George W. Bush by a mere 537 votes, and with it the White House. Many pundits said the Elian debacle made the difference. The only people who seem to want to commemorate Elian's saga serve in Cuba's government. Earlier this month, officials there released photos of now-16-year-old Elian wearing an olive-green military school uniform and attending a Young Communist Union congress. Cuba usually organises ceremonies marking Elian's birthday each December 7 at his school and elsewhere in his hometown of Cardenas, on Cuba's north coast. Before he became ill, Fidel Castro would usually attend. The Cuban government, which tightly controls media access to Elian and his father, said neither was willing to give an interview. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1512EDT ------------------- END -- OF -- ITEM ------------------- AP-APTN-1830: Iran War Games Thursday, 22 April 2010 STORY:Iran War Games- REPLAY Iran begins war games in the Persian Gulf, Revolutionary Guard comment LENGTH: 02:32 FIRST RUN: 1130 RESTRICTIONS: No Access Iran/ BBC Persian / VOA Persian TYPE: Farsi/Comm/Nat SOURCE: IRIB/Al-ALAM STORY NUMBER: 643663 DATELINE: Strait of Hormuz - 22 April 2010 LENGTH: 02:32 IRIB - NO ACCESS IRAN/NO ACCESS BBC PERSIAN / NO ACCESS VOA PERSIAN AL- ALAM - NO ACCESS IRAN/NO ACCESS BBC PERSIAN / NO ACCESS VOA PERSIAN ++AP Television is adhering to Iranian law that stipulates all media are banned from providing BBC Persian or VOA Persian any coverage from Iran, and under this law if any media violate this ban the Iranian authorities can immediately shut down that organisation in Tehran.++ SHOTLIST IRIB - NO ACCESS IRAN/NO ACCESS BBC PERSIAN / NO ACCESS VOA PERSIAN 1. Islamic Revolutionary Guards Corps' (IRGC) vessel called 'Ya Mahdi' firing missile 2. Wide of missile launched from Ya Mahdi 3. Interior of vessel with hand showing points on radar 4. Wide of hypothetical enemy target hit by missile fired from Ya Mahdi 5. Aerial of hypothetical enemy's vessel surrounded by Islamic Revolutionary Guards Corps' (IRGC) boats 6. IRGC's speedboats 7. Various of explosion on hypothetical enemy vessel 8. SOUNDBITE (Farsi) General Morteza Safari, Chief Commander of IRGC's Naval Forces: "Today the first stage of the Great Prophet 5 war games was conducted with the blessed operation code of 'Ya Zeinab'. Different drills were conducted at the first stage." 9. IRGC commando moving down rope from helicopter towards hypothetical enemy's vessel to capture it 10. Wide of helicopter 11. IRGC commando pointing gun at hypothetical target 12. Wide of hypothetical enemy's vessel AL- ALAM - NO ACCESS IRAN/NO ACCESS BBC PERSIAN / NO ACCESS VOA PERSIAN 13. Various tracking shot of missile-mounted speedboats sailing on high speed toward hypothetical enemy vessel 14. Tracking shot of speedboats sailing towards target, firing missiles with smoke rising from targeted vessel, zoom in 15. Wide of smoke rising from attacked hypothetical enemy's vessel, zoom in on the vessel 16. Various of damage on attacked hypothetical enemy's vessel 17. Wide of hypothetical enemy vessel with IRGC's navy helicopters hovering over, it in reduced visibility 18. IRGC forces hoisting Iranian flag on enemy's captured vessel 19. Wide of hypothetical enemy vessel and IRGC forces surrounding it STORYLINE Iran's elite Revolutionary Guard began large-scale war games in the Persian Gulf and the strategic Strait of Hormuz on Thursday, state television reported. Iran has been holding military manoeuvres in the Persian Gulf and the Strait of Hormuz annually since 2006 to show off its military capabilities. The last four military exercises were held in the summer, but there has been no official explanation as to why they were brought forward this year. The war games have routinely heightened tension in the region, but they have more recently taken on added significance as the standoff between the West and Tehran over Iran's nuclear programme grows deeper. The West suspects the programme conceals a nuclear arms production drive - a charge that Iran denies. Iran has in the past signalled that it would close the Strait of Hormuz if attacked by the West - something that makes holding war games there a particularly sensitive move. Some 40 percent of the world's oil and energy supplies pass through the narrow waterway at the mouth of the Persian Gulf. In Washington, Pentagon press secretary Geoff Morrell played down the significance of the manoeuvres, saying that they didn't seem out of the ordinary from what Iran's military had done in the past. Asked on Wednesday - the day the manoeuvres were announced in Tehran - what concerns he had about the Iranian war games, Morrell said: "I haven't heard any particular concerns." The Iranian television report said naval, air and ground units from the Guard were participating in the three-day games codenamed "The Great Prophet". It said the war games would witness the commissioning of what it described as an "ultra-speed" vessel called "Ya Mahdi", while a total of 313 speedboats with the capability of firing rockets and missiles would also take part. On Wednesday, Iranian Defence Minister General Ahmad Vahidi said "new weapons" would be test-fired in the war games, but did not give any details. Morrell said on Wednesday that Tehran often made exaggerated claims about its weapons testing. Tehran was angered by US President Barack Obama's announcement this month of a new US nuclear policy in which he pledged America would not use atomic weapons against nations that don't have them. Iran and North Korea were pointedly excluded from the non-use pledge, and Iranian leaders took that as an implicit threat. Iran's supreme leader, Ayatollah Ali Khamenei, said on Wednesday that the US "nuclear threat" was a "stigma in the US political history," saying Iranians would not allow the US to dominate the country. Iran's arch-enemy, Israel, has not ruled out military action against Iran's nuclear facilities. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 04-22-10 1430EDT ------------------- END -- OF -- ITEM -------------------