A financial shake-up after a major Japanese brokerage firm shut down.
State officials want to put the brakes on teens driving after dark in the
Gusty winds blowing in from the northwest are making for a very blustery
day around here.
The winds will decrease by this evening-- but so will the temperatures.
The chilly forecast is on the way.
News 7 at noon is next.
SUPER=#4054; Noon Headline Banner
President Clinton is meeting in Vancouver today with five Asian leaders
whose countries are at the heart of a financial crisis.
Their financial turmoil is expected to top the agenda at the annual Asia
The president is working with the Pacific rim leaders to craft a financial
Yesterday on the eve of the summit President Clinton said the world needed
to work together to stabilize the Asian markets.
The latest financial shipwreck has occurred in Japan where one of the
country's biggest brokerage firms collapsed this morning.
Yamaichi (yah-mah-ee-chee) Securities closed its doors today after racking
up a multi billion dollar debt from a payoff scandal and a slump in Tokyo stock
Barry Petersen reports from Tokyo.
IN Q=With tears
SUPER=03-Tokyo, Japan; :00
SUPER=01-Barry Petersen/Reporting; 1:32
OUT Q=CBS News Tokyo
With tears..and desperation...the president of Yamaichi begged forgiveness...
(Nat sot/more crying)
And pleaded for other companies to hire his soon to be out of work 7-thousand
Out of work in Japan's biggest bankruptcy...the fourth largest brokerage house
collapsing under the weight of some 24-billion dollars in debt...much could be
recovered when its assets are sold.
Even more shocking...another two-billion dollars missing in shady transactions
to hide stock market losses for big-time clients.
Much of this coming to light after a raid by prosecutors investigating the
Japanese mob which allegedly extorted millions from Yamaichi and other
Picking up the pieces was a big part of this extraordinary day...the finance
ministry promising that the bankruptcy will have a minimum impact on world
And investors, vowed the minister, would be protected...
At government offices...lights have burned day and night...with efforts
underway to organize some sort of public bailout to re-assure the Japanese
They need it...a smaller securities firm went belly up...and Japan's 10th
largest bank closed it's door...all just in the last month.
(Standup) JAPAN'S STOCK MARKET IS CLOSED TODAY.. TOMORROW, HERE IN
TOKYO, WE'LL SEE IF THE JAPANESE INVESTORS BELIEVE THERE
GOVERNMENT'S REASSURANCES...OR IF THEY'RE READY TO CUT AND RUN
AMID FEARS OF MORE BAD NEWS IN THE WEEKS AHEAD FROM JAPAN INC.. BARRY
PETERSON, CBS NEWS, TOKYO.))
The top American at the U-N is warning that the weapons inspection crisis in
Iraq is far from over.
Iraq is barring U-N inspectors from several sites that they say are
unimportant, including dozens of presidential palaces.
U-S officials say weapons inspectors should be able to go anywhere to look
for weapons of mass destruction.
U-N inspectors begin a third day of work since being allowed back in the
country last week.
Meanwhile, An American U-Two spy plane made another flight through Iraqi
airspace today without incident.
In Iowa, Bobbie McCaughey (Mih-Koy') is at home this afternoon, five days
after giving birth to the world's only living Septuplets.
McCaughey was released yesterday after spending 37 days in the hospital.
But she had to leave her seven babies behind.
They're not expected to be released until sometime in January.
Her doctors remain at a loss to explain how she defied all odds
in carrying the babies 7 and a half months.
((DR. DAVID ALEXANDER:WE CANT BEGIN TO EXPLAIN WHY SHE WAS ABLE TO ACCOMPLISH
THIS. WE LOOK AT IT FROM AS MANY ASPECTS AS WE CAN, COME BACK TO HER
SUPER=07-Dr. David Alexander;
OUT Q=to her extraordinary faith.
Doctors say the infants are getting stronger every day.
Two are now off ventilators and several more are expected to be breathing on
their own in the coming week.
GRAPHIC=Virginia State Seal
Many teenagers already have a curfew for making sure they are home--now they
could have one for night time driving.
It's one of the ideas the state is considering to cut down on the number of
accidents involving young drivers.
People aged 15 to 20 years old make up nearly 7 percent of licensed drivers,
but account for 14 percent of the motorists involved in fatal car wrecks.
Studies show that most of those accidents happen at night.
Limiting night driving is one of the provisions state officials are
considering as part of a "graduated licensing" law.
GRAPHIC=Roanoke City Seal
A bridge that is supposed to be a connection has instead pitted some Roanoke
residents against the city.
The Second Street Bridge officially opened yesterday.
Some community members complained the span would further divide the historic
Gainsboro district, which they say has been torn apart by other city projects.
But others note it's going to make getting around much easier.
SOT 14:14:30 SAME TAPE
IN Q=people may want
((REV. RON MARSH: PEOPLE MAY WANT TO CALL IT URBAN RENEWAL BUT I THINK IT'S
GOOD FOR ROANOKE, IT'S GOOD FOR THE ROANOKE VALLEY BUT THE MAIN THING IS EASY
ACCESS TO AND FROM TOWN.))
SUPER=07-Rev. Ron Marsh;
OUT Q=AND FROM TOWN
City leaders note extra care was taken with the details of the bridge, such
as extra landscaping, brick walkways and distinctive light poles on the bridge
itself, to insure that the project would compliment the area.
HARD MUSIC UNDER
Unlocking the doors to affordable housing is the key issue for state
authorities meeting this week in Roanoke.
More problems in space as the crew aboard the space shuttle Columbia take on
a dangerous spacewalk.
To say it's been breezy today is an understatement--
Winds have gusted as much as 36 miles an hour in the Highlands this
Meantime, high pressure centered over us is keeping the skies fairly
sunny, while the temperatures have been pretty chilly.
Let's check the current situation at the Roanoke Regional Airport.
music up full
In space tonight Columbia astronauts will play a very delicate game of
Two astroanuts will go on a daring spacewalk to catch a spinning three
thousand pound malfunctioning satellite and secure it aboard the shuttle.
The plan calls for the shuttle to creep slowly toward the satellite so the
astronauts can get close enough to grab it.
NASA says it's confident the astronauts will catch it and avoid a collision.
Accusers are telling their
stories at a hearing in South Africa about the woman once called
``mother of the nation.''
Winnie Mandela's weeklong public hearing is before the Truth and
Reconciliation Commission, which is investigating 18 killings and other crimes
allegedly involving Mandela's bodyguards.
One woman testified this morning that Mandela repeatedly punched her in a
jealous rage in 19-80.
The commission will not decide anyone's guilt or innocence this
CHAIRMAN TRUTH AND RECONCILIATION COMMISSION: OUR OBJECTIVE IS TO IS TO FIND
OUT THE TRUTH IN ORDER TO ASSIST IN THE PROCESS OF HEALING OUR LAND, TO PROMOTE
RECONCILIATION AND MAKE SURE THAT
AWFUL THINGS WE HEAR ABOUT, WILL NOT HAPPEN AGAIN."
SUPER=01-Desmond Tutu/Commission Chairman
OUT Q=will not happen again.
For Mandela, the hearing is a chance to publicly address the accusations and
keep her public profile high before
next month's national conference of the governing African National
The response to your call for help in Rockbridge County will now have a
Rescue workers there have started the Regional Central Dispatch Center,
pulling together 11 Volunteer Fire Departments and five rescue squads.
SOT 02.01.12 - 02.01.38
IN Q=Just this past
((JON ELLESTAD/LEXINGTON CITY MGR.: JUST THIS PAST WEEK, THIS WEEK--TOOK THE
BIG STEP OF HIRING OUR FIRST EXECUTIVE DIRECTOR WHO'S JOB IT WILL BE TO
ACTUALLY PUT THIS CONSOLIDATED CENTER TOGETHER AND PURCHASE THE EQUIPMENT,
OUTFIT THE DISPATCHERS AND HIRE THE DISPATCHERS AND ALL THAT SORT OF STUFF.
WE'RE REALLY QUITE EXCITED ABOUT IT. THAT'S A BIG STEP FOR INTERGOVERNMENTAL
SUPER=01-Jon Ellestad/Lexington City Manager
OUT Q=for intergovernmental cooperation.
Ellestad says the consolidation has been in the planning stages since 19-92.
The new center will improve service by sharing expenses and operating
responsibilities among the member squads.
Making available housing that is safe and not too expensive for working
people--that is the challenge for state officials.
Over the next two days more than 700 vendors will discuss the issue at the
Governor's Housing conference at the Hotel Roanoke.
IN Q=In Fact there
((KATHLEEN O'ROURK/VA HOUSING DEVELOPMENT AUTHORITY: IN FACT THERE IS STILL A
GREAT DEAL OF SUBSTANDARD HOUSING AND ONE REASON WHY THIS IS THE LARGEST IN THE
NATION IS WE'VE BEEN VERY SUCCESSFUL IN PUTTING TOGETHER FOLKS FROM PRIVATE AND
PUBLIC SECTORS SO THEY CAN OFFER AFFORABLE HOUSING TO PEOPLE WHO OTHER WISE
THINK THEY MIGHT NOT BE ABLE TO AFFORD IT.))
SUPER=01-Kathleen O'Rourke/Va. Housing Development Authority;
OUT Q=able to afford it
The Governor's Conference runs through tommorrow.
Better housing continues to be a main issue in the effort to revitalize
Vacant lots and substandard housing have become the norm in parts of
northwest as longtime residents have died or moved away.
IN Q=Everybody knew everybody
((WILLIAM TABORN/NORTHWEST ROANOKE RESIDENT: EVERYBODY KNEW EVERYBODY.
PRACTICALLY EVERYBODY HAS DIED. I WAS TELLING SOMEBODY LAST NIGHT, THERE'S NOT
BUT THREE PEOPLE LIVING ON HARRISON AVENUE THAT WAS STILL LIVING WHEN I WAS A
SUPER=01-William Taborn/Northwest Roanoke Resident;
OUT Q=when I was a child.
TAKE FULL SCREEN LIVE/6 AND 11 PROMO BOARD
This week, we'll hear more from William Taborn (TAY-born) and other
residents, as they discuss the problems and potential of their neighborhood.
Our series, Northwest Passages, starts tonight on News 7 at Six.
SOFT MUSIC UNDER
Still to come on News 7 at Noon,
Winning the Big Game is no small victory for one Virginian.
The S-P-C-A wants to remind holiday gift-givers some cute and cuddly
presents come with major responsibilities.
MUSIC UP FULL
COMM BREAK #2
If your child has a new puppy or kitten on his or her Christmas wish list,
the S-P-C-A wants you to consider a couple of things.
The agency warns pets don't make good presents if the receiver isn't
prepared for the responsibility.
The S-P-C-A is encouraging people to think carefully about giving pets as
A center manager says the number of adoptions usually drops off in November
then picks back up in the weeks just before Christmas.
The S-P-C-A says too often those who give the pets as presents assume the
recipient will take on the responsibility of caring for it.
SOT 02.45.26 - 02.45.41
IN Q=We don't really
((TERRI WIERINGA/ROCKBRIDGE CO. SPCA: WE DON'T REALLY ENCOURAGE IT. WE HAVE
SOME THAT HAVE BEEN ADOPTED OUT A WEEK OR SO BEFORE CHRISTMAS AND THEY COME
BACK AND USUALLY, I'M NOT SAYING ALL OF THEM BUT WE USUALLY TRY TO ENCOURAGE
PEOPLE TO GET GIFT CERTIFICATES.))
SUPER=01-Terri Wieringa/Rockbridge Co. SPCA;
OUT Q=get gift certificates.
The gift certificates give the recipient time to think it over.
They can pick up the pet on reserve for them, pick up a different pet, or
decide it's not really a good idea.
SUPER=330-Clear & Cold/Light NW Winds/20-24/Mostly Sunny/& Milder/50-54;
SUPER=331-Clear &/Very Chilly/20-24/Mostly Sunny/Winds SW 10/50-54;
SUPER=332-Mostly Clear/Light W Winds/15-19/Mostly/Sunny/50-54;
SUPER=333-Clear Skies/Bitter Cold/15-20/Mostly/Sunny/50-54;
SUPER=334-Mostly Clear/Winds W 5-10/15-19/Mostly Sunny/A Bit Warmer/48-52;
If you think you don't have enough money to start investing, think again.
Scott Goldberg explains in this week's edition of Common Sense.
IN Q=There's a myth
SUPER=01-Ray DiPaula/United Parcel Service; :18
OUT Q=I'm Scott Goldberg.
((There's a myth out there that says you have to be rich to build a financial
The truth is you don't need much more than the change you carry in your
Ray DiPaula, a financial adviser for the United Parcel Service in Atlanta,
says it only takes a dollar seventy-five a day.
SOT Common Sense #1 23:24:20
IN Q=A dollar seventy-five
((RAY DIPAULA/UNITED PARCEL SERVICE: A DOLLAR SEVENTY-FIVE TODAY DOESN'T BUY
VERY MUCH. BUT IF YOU TOOK THE $1.75 AND YOU PUT IT IN A JAR NEXT TO YOUR BED,
AT THE END OF THE MONTH YOU'D HAVE ABOUT $53. THEN IF YOU TOOK THAT AND PUT
THAT IN A VEHICLE THAT WOULD GIVE YOU EIGHT PERCENT GROWTH, IN 45 YEARS YOU'D
HAVE OVER $265,000 AT A MINIMUM. SO I BELIEVE ANYONE CAN SAVE.))
OUT Q=ANYONE CAN SAVE.
cs standup 08:59:14
DiPaula says a mutual or high-interest fund will give you the kind of growth
you're looking for.
That's this week's Common Sense.
I'm Scott Goldberg.))
SPORTS MUSIC UNDER
The Hokies are hoping for a Thanksgiving victory in their pursuit of a bowl
Even after three hours of play the Redskins and Giants had to settle with a
MUSIC UP FULL
COMM BREAK #3
The NFL's normally high scoring offensive teams had gone 8 years without a
single tie game.
But thanks to last night's deadlock near D.C. - the league now has two ties
Mike Stevens has more on last night's Redskins-Giants game.
IN Q=FIRST AUDIO
SUPER=03-Raljon, MD; :00
SUPER=01-Norv Turner/Redskins Head Coach; :33
SUPER=01-Tiki Barber/88 Yards Total Offense; 1:08
SUPER=30-N.Y. Giants/7/Washington/7/Overtime; 1:26
SUPER=01-Darrell Green/Two Tackles; 1:33
OUT Q=news 7 sports.
The Carolina Panthers are back playing 500 ball after yesterday's 16 to 10
win over the St. Louis Rams.
SUPER=03-St. Louis, MO/FOX Sports; :
Carolina coach Dom Capers checks the action from the sideline.
In the second quarter the Panthers turn it over. Kerry Collins drops back
and fumbles the ball--it's picked up by Leslie O'Neal who takes it in for the
66 yard touchdown, to make it 7 to nothing Rams.
But Collins would come right back--this time he goes to the air and hits
Rocket Ismail on the 59 yard touchdown pass play and the game was tied at 7 to
7 in the second quarter.
The Panthers broke the tie in the SUPER=30-Carolina/16/St.
Louis/10/;third when John Kasay kicks the 53 yard field goal to make it 13 to
10 and Carolina wins it 16 to 10.
If the polls have anything to do with Virginia Tech getting the Big East's
Alliance Bowl spot, the Hokies are hanging by a thin piece of thread.
SUPER=03-Pittsburgh, PA/KDKA; :
Saturday in Pittsburgh, Pete Gonzalez passed for four touchdowns to lead the
Panthers to a 30 to 23 win over the Hokies.
The loss knocked the Hokies out of the A-P top 25 and dropped them to 21-st
in the U-S-A ESPN poll, five spots behind Syracuse. Syracuse is also 16-th in
the A-P Poll.
Tech is 7 and 3 overall and 5 and 2 in the Big East.
Tech will go to Virginia this week needing a win and a Miami victory over
Syracuse to force a tie between the Hokies and Orangemen.
If there's a tie the highest ranked team gets the Alliance spot.
There's a big windfall in store for one person in Virginia.
A winning Big Game lottery ticket was purchased in the Commonwealth last
week, making it the first time the winner for the multi-state lottery comes
The Big Game involves six states.
According to Lottery spokesman Ed Scarborough the ticket was sold at a Zip
Mart in Richmond and is worth 15 million dollars.
After taxes the winner will get 510-thousand dollars every year for 20