Chrysler, UAW reach deal after 6-hour strike; Greenspan sees 50/50 recession odds
CBS News
Transcript
[Music] Thousands of Chrysler workers are back on the job this morning after Chrysler and the United Auto Workers reached a tentative contract agreement. The deal ends a six-hour strike at the auto giant. Details of the agreement were not immediately available. Ford is now the final automaker to bargain with the UAW. Alan Greenspan is weighing in on the economy again. The former Federal Reserve chairman told a group in New York Wednesday that economic growth will continue to slow through the beginning of 2008 and that the housing market will continue to weaken. Greenspan added he believes the US economy now has a 50/50 chance of falling into a recession. Investors will be focused on the retail sector today with a report on September sales. We'll see if the slumping housing market and rising food prices have made Americans skittish at the start of the fall shopping season. On Wall Street Wednesday, the blue chips gave back a bit after a record run Tuesday. The Dow tumbled 85 points, but the Nasdaq added nearly eight. Comic book and toy maker Marvel is taking some preventative steps. It's halting shipments of all Curious George toys after a California-based consumer advocacy group said one of the Curious George dolls was tainted with lead. Marvel says it will recall the toys if emergency testing shows they contain unsafe levels of lead. That's your money watch. Be sure to log on to cbsnews.com for more. In New York, I'm Alexis Christopherus.