Beer makers probed over caffeine ads; court backs 401k suits
CBS
Transcript
two beer giants face an investigation over their marketing practices several states are asking the miller brewing company and anheuser-busch to turn over internal documents on the marketing of caffeinated alcoholic drinks a number of consumer advocacy groups say the companies failed to spell out the negative consequences of combining alcohol and caffeine on wall street stocks made solid gains wednesday despite another record for oil prices rising inflation and a dismal economic outlook from the fed in the end the dow climbed 90 points and the nasdaq composite gained about 21. the supreme court handed a legal victory to americans worried about their 401k plans the justices ruled unanimously that individuals can sue 401k retirement plans to recover losses the case involved a texas man who said he lost 150 thousand dollars when plan administrators did not follow his instructions to switch to safer investments about 50 million americans have over two and a half billion dollars invested in 401k plans and rising mortgage rates appear to be keeping americans out of the slumping housing market mortgage applications plunged last week down twenty two and a half percent that's as the average interest on a thirty year fixed rate home loan moved back above six percent that's your money watch be sure to log on to cbsnews.com for more in new york i'm alexis christoforous