American Morning
AM Mind Your Business for December 7, 2011
Today on American Morning, Christine Romans reports on the morning business news headlines.
This morning, we're watching:
*Treasury Secretary Tim Geithner's three day European whirlwind takes him to Paris this morning. Geithner is meeting some more of his European counterparts. Geithner says he's confident that EU leaders will be successful in negotiations to tackle the debt crisis in the region.
*Banking giant Citigroup is planning to lay off 4,500 employees over the next few months. CEO Vikram Pandit says the cuts are needed to cut costs with this weak economy. Citi will also take a $400 million charge in the fourth quarter to cover the severance and other costs related to the downsizing.
*A new credit report is digging deeper into your financial history. A company called Corelogic has introduced a new credit file based on its massive database of information that includes whether you've paid your rent or utility and cell phone bills on time. This is information that's not currently considered by credit bureaus. Bottom line for you – if you make payments on time, every time, your credit score will work for you and not against you.
*For a second year in a row, consumer reports says AT&T is america's worst mobile carrier. Oregon-based consumer cellular got the highest marks. AT&T says its "committed to getting better and better."
Tune in to American Morning at 6am Eastern every day for the latest in business news.
Study: kids' cereals loaded with sugar
A new study says that children's cereals are loaded with sugar. The study found that some popular cereals even have more sugar than chocolate chip cookies or Twinkies! These cereals are now being blamed for contributing to the childhood obesity epidemic.
CNN senior medical correspondent Elizabeth Cohen tells Carol Costello and Christine Romans which cereals parents should avoid and presents some healthier breakfast options for kids.
Senators pitch bipartisan payroll tax plan
President Obama continues to press congress to extend the popular payroll tax cut. So far, Republicans and Democrats have been unable to agree on how to pay for the tax break. Now two senators are offering a compromise to extend the savings to millions of Americans. The plan would still include a so-called "millionaires tax" to pay for it, but small businesses would be given an exemption.
Today on American Morning, Christine Romans talks with Senators Susan Collins and Claire McCaskill to get the details of their bi-partisan plan.
Gallup poll: former speaker leading Romney by 15 points
Newt Gingrich holds a 15 point advantage over Mitt Romney in the race for the GOP presidential nomination, according to a new national survey of registered Republicans. Thirty-seven percent questioned in Gallup's inaugural daily tracking poll this cycle say they are likely to support the former House speaker for the GOP nomination, with 22% backing the former Massachusetts governor. Gingrich's numbers have surged dramatically from Gallup's last poll in mid-November, in which the former House Speaker was only leading Romney by a single percentage point.
Carol Costello speaks with CNN senior political analyst Ron Brownstein and Erick Ericson, editor-in-chief of Redstate.com, to discuss what Gingrich needs to keep the pressure on Romney.
Actor Mark Ruffalo on fighting fracking
Fracking – it sounds like a dirty word. And in the opinion of many environmentalists, it is. Fracking is procedure that pumps millions of gallons of water and chemicals into underground shale in order to extract natural gas.
Today on American Morning, Alina Cho sits down with actor Mark Ruffalo to find out why he's so concerned about what fracking is doing to the environment.
In depth: school overcrowding crisis
This week, we're taking an in-depth look at education. Today on American Morning, we're looking at overcrowding in our nation's schools. Recently, Carol Costello visited a New York high school that was originally built for 1,400 students – but now contains 3,900. The students at this school had to study in shifts and sometimes had classes in the basement. But school overcrowding is not limited to New York. With local budget cuts forcing teacher layoffs, class sizes are growing around the country.
Carol Costello sits down with Leonie Haimson, founder and executive director of "Class Size Matters," to discuss the school overcrowding crisis.
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