American Morning

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May 12th, 2010
03:00 PM ET

Oil slick threatens oyster business

(CNN) – In the next three minutes, about the time it will take for you to watch this report, nearly 500 more gallons of fresh crude oil will have spilled into the Gulf of Mexico, making the massive oil slick that much more of a menace.

The growing environmental threat has been well-documented, but now we're beginning to see the economic fallout. Our Reynolds Wolf reports from the Mississippi coast where an oyster processing plant has suddenly become a shell of its former self.

Filed under: Business • Environment • Gulf Oil Spill
May 12th, 2010
02:00 PM ET

What caused Beau Biden's health scare?

(CNN) – Delaware Attorney General Beau Biden is alert and stable after suffering a mild stroke yesterday. The vice president's eldest son is talking and has all of his motor skills. Although he's expected to recover, he's staying under the watchful eye of doctors at a Philadelphia hospital.

Our chief medical correspondent Dr. Sanjay Gupta joined us on Wednesday's American Morning to discuss Biden's condition and what may have caused his symptoms.

Read more: Beau Biden suffers apparent mild stroke, doctors say

Filed under: Health
May 12th, 2010
01:00 PM ET

Senator Inhofe discusses opposition to Kagan

(CNN) – Just hours after the president announced Elena Kagan as his pick for the Supreme Court, Oklahoma Republican Sen. James Inhofe made his opposition clear.

He says Kagan has a "lack of impartiality" with those who disagree with her, has demonstrated "poor judgment" as the head of Harvard's law school, and he's concerned that she's never been a judge.

Sen. Inhofe joined us from Capitol Hill on Wednesday's American Morning to discuss his stance against Kagan.

Read more: Kagan to meet with senators amid Republican criticism

Filed under: Politics • Supreme Court
May 12th, 2010
12:00 PM ET

Man claims product could 'eat' Gulf oil spill

(CNN) – The "top hat" oil containment device has reached the sea floor in the Gulf of Mexico and should be in position over a leaking well head and operational by the end of the week, BP said Wednesday. Meanwhile, one man says while all that's going on, he's sitting on a potential solution to saving the wetlands, if they're over-run with oil.

Frank Pajaujis is a partner at Aabaco and says he has a product that could actually "eat" away at the oil and turn it into dirt. He showed us a demonstration of his product on Wednesday's American Morning.

Read more: 'Top hat' reaches Gulf oil leak site

Filed under: U.S.
May 12th, 2010
11:00 AM ET

What does Britain's power shift mean for U.S.?

(CNN) – It's the first full day on the job for Britain's new prime minister, David Cameron. The torch was passed yesterday after Gordon Brown resigned, ending more than a decade of rule by his Labour Party.

Cameron said he wants to form a coalition government with the liberal Democrats. So what does the changing of the guard mean here at home? Former Asst. Secretary of State James Rubin and Time International editor Michael Elliott gave us their thoughts on Wednesday's American Morning.

Read more: Britain's new PM starts work

Filed under: Politics • World
May 12th, 2010
10:00 AM ET

High-end repo men snag planes, yachts

By Bob Ruff and Carol Costello, CNN

(CNN) – Count the rich among the victims of the Great Recession. Just ask Ken Cage, who repossesses very expensive toys that the rich can no longer afford. Business, HIS business, is booming.

“We sold 12 boats and airplanes in a day,” he told us. His biggest repo? A nearly new $14 million Gulfstream jet taken from a real estate developer who fell behind in his payments. Cage often sells the repossessions himself, taking a small cut of each sale and giving the rest back to the banks.

Cage’s Orlando-based International Recovery & Remarketing Group (IRG) grabbed around 1,000 big-ticket items last year. Cage’s partner is Randy Craft, a former professional wrestler who provides the “muscle” in case a repo goes wrong. We caught up with them as they were going through the final run-through for their next target, a $700,000 Cessna Citation jet.

With most repos, says Cage, the challenge is where to go looking. Many owners move and hide their planes as soon as the bank says they are repossessing. Cage, who is part Sherlock Holmes and part James Bond, has contacts at most airports throughout Florida.


Filed under: Economy
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