It looked like stock prices in New York would be taking another big tumble
today -- after some big losses in Asia
earlier in the day.
SUPER=03-New York, NY;
But after falling more than 100 points at the opening bell, the
Dow has now regained most of that loss, it's now in positive territory.
One analyst says he's telling investors not to panic -- but
simply to "keep cool" -- and "let the market settle down."
Meantime, In Hong Kong, the stock market plunged nearly 9 percent to its
lowest level in three years.
Traders say panicky investors were reacting to the collapse of a prominent
Hong Kong based investment bank and steep losses Friday on Wall Street.
SUPER=03-Tokyo, Japan; ;14
And in Tokyo, stocks closed down more than two percent.
Nine men of middle eastern decent are on trial in Roanoke's federal trial
Nearly all of the defendants are members of the same family.
The government says the Abeds ran an organized crime ring in the Roanoke
They are accused of controling a number of convenience stores by threats and
intimidation, --- arson, in particular.
Jury selection began this morning and is expected to take at least all day
A new confrontation between Iraq and the United Nations could be brewing --
with today's announcement by Iraq that it will block any arms inspections by
one of the American inspectors.
Iraq claims he's a spy.
Baghdad began criticizing U-N weapons inspectors when a new team arrived
Randall Pinkston reports.
SUPER=01-Denis Halliday/UN Humanitarian Coordinator; :48
OUT Q= CBS NEWS BAGHDAD
There's word of more bloodshed in Algeria.
An armed gang has attacked and killed up to 120 people in a village outside
Algiers in two separate attacks last night.
The incident is the latest in a string of killings connected to
Algeria's Muslim militant movement.
At least one-thousand people have been killed in the past two weeks.
It's the beginning of the end for a 160 year battle between New York and New
Arguments over ownership rights for Ellis Island are being heard by the
Supreme Court today.
The U-S government has weighed in on New Jersey's side.
But some historians and preservationists say they believe the island belongs
within New York's boundary.
And in Virginia one man is listed in critical condition after being thrown
from his car last night.
Police are still investigating the incident, but they say the driver lost
control of his vehicle and crossed the southbound lane of route 1-22 near
The car hit an embankment and flipped, ejecting the man, who was airlifted
to Roanoke Memorial, where police say he's listed in critical condition.
Quebec continues to fight back against the most devastating ice storm ever
to hit Canada.
Residents WITH power are
taking in some of their two million neighbors still without electricity.
SUPER=03-Scranton, PA; :06
In the northeastern U-S, hundreds of thousands are still without power from
the same storm system.
They're getting help today from the National Guard.
SUPER=03-Tacoma, WA; :14
Meantime, another storm system has brought a combination of freezing rain,
ice and snow to the pacific northwest..
GRAPHIC=WIPE WIPE WIPE
And a rare snowstorm has brought much of the Middle East to a standstill
Jordan's capital, Amman, is blanketed with snow and high regions in the
mostly desert country are covered by more than a foot and a half of snow.
Israel is experiencing its first big snowfall in six years.
Snow covers the biblical Mount of Olives and the Wailing wall.
Our region experienced an unseasonal
warm spell last week.
The warmth should NOT have caused too many problems with local plants.
David Johnson has more.
IN Q=It may have
SUPER=03-Montgomery Co.; :01
SUPER=01-Bob Lyons/Va. Tech Horticulture Professor; :08
SUPER=01-Doug Harris/Extension Agent; :19
OUT Q=Montgomery County
((It may have felt like springtime last week, but the brief stint did not
fool or harm plants and crops.
((BOB LYONS/VA. TECH HORTICULTURE PROFESSOR; IT REALLY WOULD HAVE BEEN HORRIBLY
BAD IF THE WARMER WEATHER LASTED A LONGER PERIOD OF TIME. BUT THE WEEK OR SO WE
HAD DIDN'T DO THAT MUCH TO THE PLANTS IN TERMS OF THROWING THEM OFF SCHEDULE.))
((DOUG HARRIS/EXTENSION AGENT; OUR SMALL GRAIN CROPS LIKE WHEAT AND BARLEY,
WE'D LIKE TO SEE A LITTLE GROWTH ON THEM THIS TIME OF YEAR. WHENEVER THE
TEMPERATURE IS ABOVE 32 DEGREES, WHEAT WILL GROW AND DEVELOP. AND THAT'S
HELPFUL TO US AT THIS STAGE AND THIS GROWTH.))
Crops won't be so lucky if the warm weather returns before winter ends.
((HARRIS; IF WE HAD THIS TYPE OF WEATHER IN LATE FEBRUARY OR MARCH, WE'D BE A
LITTLE BIT MORE CONCERNED ABOUT SOME OF THE CROPS HAVING SOME DAMAGE.))
Across the country, some plants have been fooled into thinking it's time to
bloom, like the cherry blossoms in Washington state.
There may be similar signs locally in daffodils and grape hyacinths.
((IT'S NOTHING TO WORRY ABOUT TO PANIC ABOUT BECAUSE THESE PLANTS HAVE VERY
PRECISE TIME CLOCKS INSIDE OF THEM. THEY'RE REGULATED VERY SPECIFICALLY BY
INTERNAL SUBSTANCES. JUST A WEEK HERE AND THERE OF WARM WEATHER IS PUSH A
LITTLE BIT OF THE PLANT, BUT IT'S NOT GONNA THROW IT COMPLETELY OFF BALANCE.
Apples and peaches are very dormant, so they were unaffected by the warm
Crops may get off to a better start this year, due to some additional
((WE'VE CERTAINLY BEEN GLAD TO SEE THIS RAIN OVER THE LAST WEEK. LAST YEAR WAS
SO DRY AND THE RAIN WE'VE HAD HAS BEEN REAL HELPFUL TO REPLENISH THE TOP SOIL
((DAVID JOHNSON/REPORTING; SO THE CONSENSUS AMONG EXPERTS IS THE BRIEF PERIOD
OF WARM WEATHER DID NOT CAUSE ANY HARM AND IN SOME CASES MAY HAVE DONE SOME
GOOD. DAVID JOHNSON, NEWS 7, MONTGOMERY COUNTY.))
GRAPHIC=personal property tax
Virginia localities assess cars differently as they go about collecting
personal property taxes.
This inconsistency is slowing Governor-elect Jim Gilmore's efforts to
eliminate the tax.
To draft a bill that covers all cases, more than 50 people in Gilmore's
transition team and the state government are working to untangle the tax web.
Gilmore said this weekend he's still committed to the tax relief, but
the legislation probably won't be ready when the legislature opens.
GRAPHIC=Va State Seal
With or without the car tax legislation the 19-98 General assembly opens
One of the big issues to be decided is the state's spending plan for the
next two years.
Governor Allen's proposed 39- point- nine billion dollar budget left just
12- million dollars unspent.
But various interests -- from public
libraries to mental health advocates -- are asking for more than Allen offered.
Another Gilmore campaign promise, to appoint a technology secretary is
getting closer to becoming a reality
There are no details yet on what the post would entail and no candidate has
Gilmore attended a technology fair yesterday, where he endorsed job-training
and other programs to expand the high-tech work force.
Recent investments by high-tech companies are helping keep the state's
jobless rate low.
The first few months of life can be critical when it comes to the brain
development of a baby.
Many parents may think it's time to worry if their baby's soft spot closes
One local doctor says maybe not.
Stacey Martin has more in this week's edition of Parenting.
IN Q=In a child
SUPER=01-Dr. Larry Kleiner/Neurosurgeon; :00
OUT Q=SM, News 7.
SOT 17.19.08 - 17.19.18
IN Q=In a child
((DR. KLEINER: IN A CHILD THE BONES ARE FREE-FLOATING AND THERE'S SOFT TISSUE
BETWEEN THE BONES OF THE SKULL AND IT HAS TO BE THAT WAY BECAUSE YOU HAVE A
GROWING BRAIN. AND, THE BRAIN NEEDS ITS SPACE TO EXPAND.))
OUT Q=space to expand.
But, what if that space between free-floating bones-- or the soft spot,
closes too early?
Dr. Kleiner says the good news is that it doesn't necessarily mean there's
brain damage, but it could lead to cranio-synotosis.
SOT 17.19.25 - 17.19.39
IN Q=If there's a
((DR. KLEINER: IF THERE'S A PROBLEM WITH A CHILD WHOSE SUTURE LINES OR SOFT
SPOT FUSES TOO EARLY THE BRAIN WILL CONTINUE TO GROW IN AN ABNORMAL DIRECTION
BECAUSE IT STILL WANTS ITS VOLUMES THAT IT NEEDS. AND, HENCE YOU GET ABNORMALLY
OUT Q=abnormally shaped skulls.
Dr. Kleiner says parents can detect the condition simply by looking for
abnormal growth of their child's head.
And, he says cranio-synotosis
is easy to correct if detected before the child is about two months of age by
using head bands to re-shape the head.
In older children, however, plastic surgery may be needed.
Stacey Martin News 7.))
You'd probably expect an athlete like two- time Olympic gymnast Cathy Rigby
to know how to stay in shape.
Today she has some advice for Kimberly McBroom and the rest of us on getting
and STAYING fit.
IN Q=that's right
SUPER=01-Cathy Rigby/Olympic Gymnast; :26
OUT Q=all the time
(( That's right, Melanie.
This is the time of year when many of us make those New Year's Resolutions
to exercise more and eat better.
Cathy Rigby is taking a break from her current national tour of Peter Pan to
offer some fitness tips.
(Thanks for joining us Cathy. You've been spreading the message the
fitness is important for people of ALL ages. What kinds of good exercise habits
apply to younger and older people?)
(While they're working out physically, how do you recommend that people
stay motivated MENTALLY?)
(In your opinion, are Near Year's fitness resolutions a good idea? Or do
they set people up for disappointment if they can't accomplish their goal as
quickly as they'd like?)))
SUPER=330-Showers/Likely/35-38/Morning Clouds/Slow Clearing/53-56
SUPER=331-Showers/Likely/37-40/Morning Clouds/Slow Clearing/55-57;
SUPER=332-Rain/Likely/34-38/Rainy/Cloudy & Warmer/50-53;
SUPER=334-Rain/Likely/36-39/Showers/Cloudy & Warmer/46-49;
North American Van Lines is no longer a part of the Norfolk-Southern empire.
SUPER=04-File Tape; :00
N-S announced today it sold the moving company for 200-million dollars.
North American specializes in moving furniture and freight.
N-S bought the the van line in 19-85.
Over the years, North American has struggled to make money.
The railroad said its main focus now is completing a proposed merger with
N-S says it does not plan to sell its one remaining subsidiary, a natural
This year there are new ways to save on your taxes.
Scott Goldberg has a few suggestions in this week's edition of Common Sense.
SUPER=01-Gary Duerk/Brown, Edwards & Co.; :11
OUT Q=I'm Scott Goldberg
(( If you're looking for ways to help relieve your tax burden in 19-98,
Gary Duerk of Brown, Edwards and Company says you might want to consider
transferring some of your income to your children.
IN Q=FOR EXAMPLE
((GARY DUERK/BROWN, EDWARDS & COMPANY: FOR EXAMPLE YOU CAN GIVE THEM SAVINGS
BONDS AND THEY CAN EITHER CLAIM THE INTEREST ON THOSE EACH YEAR OR WAIT TILL
THEY'RE REDEEMED. AND FOR CHILDREN UNDER AGE 14, THE FIRST 650 DOLLARS OF
UNEARNED INCOME IS TAX FREE AND THE NEXT 650 DOLLARS IS TAXED AT 15 PERCENT.
SO YOU CAN GIVE THEM SAFETY BONDS OR TREASURY BONDS OR AN INSURANCE POLICY, AND
YOU'VE MOVED THAT OFF OF YOUR INCOME TAX RETURN.))
OUT Q=tax return
Something else to figure into your financial plans for this year:
Parents get a 500-dollar tax credit for each child in the family.
And there's a another tax break available to help pay for your children's
first two years of college.
That's this week's Common Sense.
I'm Scott Goldberg.))
TAPE#net (edit of FB97-4)
The Green Bay Packers earned the right to defend their 19-97 Super Bowl
Green Bay beat the 49-ers.
SUPER=03-San Francisco, CA/FOX Sports;
In the second quarter Brett Favre goes to the air and hits Antonio Freeman
who makes a nice run after the catch, to make it 10 to nothing Packers.
The 49-ers appeared to score a touchdown on this play.. Steve Young hits
J.J. Stokes but he can't get both feet in bounds for the score.
Green Bay put the game out of SUPER=30-Green Bay/23/San
Francisco/10/;reach in the fourth quarter when Dorsey Levins takes the handoff
and scores and the Packers win it 23 to 10.
TAPE#net (edit of FB97-3)
The Packers will meet Denver in the Super Bowl.
John Elway made three two touchdown passes in a minute and a half span of
the second quarter to lead Denver to a 24 to 21 win over Pittsburgh.
SUPER=03-Pittsburgh, PA/NBC Sports;
And the Broncos got on the board first. Terrell Davis, breaks through the
line and scores to make it 7 to nothing Denver.
Pittsburgh came right back; Kordell Stewart races down the sideline to tie
up the game at 7.
The Steelers would take the lead early in the second quarter. Jerome Bettis
bulls over from the one yard line.
But before the half was over Elway would throw two T-D passes. The first
went to fullback Howard Griffith who made the score.
Then SUPER=30-Denver/24/Pittsburgh/21/; Elway tosses what would be the
winning score to Ed McCaffrey and Denver holds on to win it 24 to 21.
IN Q="I think...
((JOHN ELWAY/DENVER QUARTERBACK: I THINK WE PROVED WE'RE THE BEST ONE TO GO ON
AND WIN TWO ROAD GAMES IN KANSAS CITY AND PITTSBURGH - TWO TOUGH, TOUGH PLACES
TO PLAY IN AGAINST GOOD FOOTBALL TEAMS AND I THINK, YOU KNOW, BY WINNING IN
THOSE PLACES, WE DESERVE TO BE WHERE WE ARE. YOU KNOW, I DON'T WANT TO WEAR
THIS OUT BUT, YOU KNOW, OUR JOB'S NOT DONE. WE'VE STILL GOT ONE LEFT.))
SUPER=01-John Elway/Denver Quarterback; :
OUT Q=......ONE LEFT."
TAPE#net (edit of S7-16)
Phil Mickelson celebrates the opening of the P-G-A season by holding off
Tiger Woods and Mark O'Meara to win the Mercedes Championship.
SUPER=03-Carlsbad, CA/ABC Sports;
Tiger Woods, who shot a final round 64, made this putt at the 12-th hole to
take the lead at 15 under par.
But Mickelson, playing behind Woods, came right back and hit this Birdie
putt at 9 to tie the score again at 15 under par.
Mickelson took the lead with a birdie at 10. He shot a final round 4 under
par, 68 for a total of 17 under for a one shot win.
Woods and O'Meara tied at 16 under par.
You can now catch all the latest local news every weekend morning on take
Wknd Am Promo 9403essC
News 7 Saturday Morning and News 7 Sunday Morning.
From 8 to 9, Denise Allen and Andrew Freiden will have the latest news,
weather and sports, plus some special features.