Subject: [NEXTEL-1] LOU DOBBS MONEYLINE; CNNfn-Part 2

From: Marcel <[email-masked]>
Date: Tue, 10 Dec 2002 15:53:43 -0500

LOU DOBBS MONEYLINE; CNNfn-Part 2
Source: CEO Wire
Publication date: 2002-12-09

xfdce CNNfn-MONEYLINE-01

Show: MONEYLINE>

Date: December 9, 2002>

Time: 18:00:00>

Tran: 120901cb.l10>

Type: SHOW>

Head: LOU DOBBS MONEYLINE; CNNfn-Part 2>

Sect: Business>

Byline: Lou Dobbs, John King, Bill Tucker, Jonathan Karl, Nic Robertson,

Kitty Pilgrim, Ceci Rodgers, Rea Blakey, Christine Romans>

Guest: Terrence Pell, Marvin Krislov, Richard Spertzel>

Spec: Business; Stock Markets; Economy; Technology; World Affairs; SIC:

7375>

Time: 18:00:00>

And we think that that`s what`s at stake. One of our statistical experts, for
instance, estimated that, at our law school, that the number of
underrepresented students would drop from roughly 15 percent to 4 percent.
And that`s what`s at stake here. And we think the Supreme Court will do the
right thing and vote to uphold the Bakke framework, which has stood us so
well for 25 years.

DOBBS: Let me ask you both to quickly, if I may, ask you for quick
answers to this question.

The fact that, 25 years after Bakke, this lawsuit is now being decided by the
Supreme Court, doesn`t that represent a huge, huge failure on the part of
this society?

PELL: Well, I think it represents a failure on the part of the University of
Michigan. I think schools in California and Texas have maintained minority
enrollment without using race preferences.

And I think the University of Michigan can do the same. I think it`s shocking
that the University of Michigan continues to use double standards,
completely different admission standards based on the race of applicants.

DOBBS: Mr. Krislov, you get the final word.

KRISLOV: What it tells us, Lou, is that the unfortunate fact is that race still
matters in today`s society. Today`s society is more segregated than it was
at the time of Brown Vs. Board of Education in 1954.

And that`s ironic, because, this is at the very time when our nation is
becoming more diverse and more part of the global economy. And our
nation`s population is becoming more diverse. So, it`s more important than
ever before to have a diverse population at our nation`s colleges and
universities. And that`s what we`re fighting for.

DOBBS: Thank you very much, gentlemen. Mr. Krislov and Mr. Pell, thank
you very much for taking the time to illuminate the issue.

Coming up next here: President Bush is expected to announce his plans to
inoculate hundreds of thousands of Americans against smallpox. We`ll have
a special report on the advantages and the risks.

Also, we`ll be talking with former a U.N. weapons inspector who says the
challenge for U.N. weapons inspectors now in Iraq has only just begun.

Also tonight: Experts are warning that a diet pill for children being marketed
over the Internet could pose serious health risks.

We`ll have that story and a great deal more. Please stay with us.

(COMMERCIAL BREAK)

You can still vote in tonight`s MONEYLINE poll. The question: ``Should the
United States give $5 billion of aid to Turkey, $12 billion of aid and
guaranteed loans to Israel?'' Cast your vote on CNN.com/MONEYLINE.
We`ll have the preliminary results for you in a few minutes. And voting, of
course, will continue until tomorrow evening`s broadcast.

Pediatricians are warning parents about a diet pill that is being marketed to
children. They say the supplement called Skinny Pill for Kids contains
diuretics that can cause kidney and liver damage. The Web site that sells
the pills say they are designed for children between the ages of 6 and 12.
Doctors say, not only are the pills dangerous, but there is no evidence that
they help children lose weight.

The Bush administration is expected to soon unveil its plan to resume
smallpox vaccinations in this country. The disease was eradicated in 1980.
But the specter of bioterrorism has forced the administration to revive the
idea of vaccination. But the vaccine itself is not without risk.

Our medical correspondent Rea Blakey has more now on what is expected
to be in the president`s plan--Rea.

REA BLAKEY, CNN MEDICAL CORRESPONDENT: Lou, what
Washington`s health director, Dr. Michael Richardson, tells me is, his
department is speaking with the Centers for Disease Control daily about that
soon-to-be announced Bush administration plan to start vaccinating
hundreds of thousands of health care workers nationwide against smallpox.

Now, Richardson says, if need be, the district can vaccinate all of its
600,000 residents by this time next year. Meanwhile, public education is
key.

(BEGIN VIDEO CLIP)

DR. MICHAEL RICHARDSON, D.C. HEALTH DEPARTMENT: We are also
going to go and do community meetings, of course, begin to discuss again
in churches, in community halls, because one, again, has to balance what
we know about this vaccine against what it may mean to a family if they
can`t take it and how they need to protect themselves.

(END VIDEO CLIP)

BLAKEY: Any day now, the administration is expected to call for half a
million hospital workers nationwide to volunteer for the inoculation. Step two
of that plan: to vaccinate up to 10 million emergency responders, like police
and ambulance workers.

And, at this point, no call, Lou, for mass public inoculations. Now, in the
meantime, public health departments around the country are teaching
people how to be vaccinators. They`re educating them about the potential
risks, risks that include death. It`s estimated, for every one million people
who are vaccinated, Lou, one or two will die.

DOBBS: Well, that is a serious risk. Obviously, some people shouldn`t
receive that vaccine. Is there any way of telling who should not take it?

BLAKEY: It`s a fairly large population, Lou, a group of some 30 to 50 million
Americans, mainly people who have weakened immune systems and people
with a skin condition like eczema.

Now, that includes people with HIV, cancer patients taking
immunosuppressant drugs. Also, transplant patients those medications as
well. Also, pregnant women should not be vaccinated or anyone who is living
with an infant under the age of 1, the concern being the potential for contact
vaccinations, which could occur for up to three weeks after the inoculation is
given, Lou.

DOBBS: Rea, thank you very much--Rea Blakey, CNN medical
correspondent.

As we reported tonight, U.N. experts are examining Iraq`s declaration of
weapons of mass destruction, including biological weapons. My next guest
says the real test for U.N. weapons inspectors in Iraq lies ahead. He says
the stakes are much higher now if inspectors find something that has not
been disclosed or they visit more sensitive locations.

Richard Spertzel is a former head of the United Nations biological weapons
team in Iraq and joins us now.

Good you could be here.

RICHARD SPERTZEL, FORMER U.N. WEAPONS INSPECTOR: My
pleasure to be here.

DOBBS: I guess the first question is: Why are you here and not in Iraq?

SPERTZEL: Well, it`s an interesting question.

Iraq made it very clear that a couple of us were no longer welcome. And, at
least it appeared to us that Iraq`s, at that time, friends and surrogates on
the U.N. Security Council would not welcome us back.

DOBBS: Did, for example, Russia or France indicate those desires through
their offices in the Security Council?

SPERTZEL: Well, on more than one occasion, it was made quite clear to
me that--by representatives of both France, as well as Russia, that I would
not be welcome back on any new organization that would be involved in
inspection.

DOBBS: On what basis, do you think? Or do you know?

SPERTZEL: Well, I`m, to a degree, speculating. But it`s my understanding
that Iraq had declared several of us persona non grata, primarily because we
were such a thorn in their backsides.

DOBBS: Not because you were being rude, but because you were being
thorough?

SPERTZEL: Exactly, at least myself and one person from the United
Kingdom that was not welcome back.

DOBBS: Was he also a bioterror expert?

SPERTZEL: He was a bioterrorism expert. And, in neither one of our cases
that I know of, did either one of us show anything but respect for Iraq. We
were firm, but we treated them with the utmost respect.

DOBBS: Hans Blix has been criticized from a number of quarters. What is
your judgment about the man`s capacity to direct a thorough and effective
weapons inspection in Iraq?

SPERTZEL: Well, he seems to--he`s saying the right things. He seems to
perhaps have learned from some of the past deception of Iraq and shows
signs of the willingness to be firm.

But I think to really comment, one way or the other, I think we need to wait
and see. The early inspections didn`t prove a thing, because they were
relatively innocuous sites.

DOBBS: Wait and see. You have been harshly critical of the Western news
media for not waiting and seeing and the way in which it`s reported this
initial round of inspections. Why?

SPERTZEL: I was dismayed that all the news media, the headlines were
blaring out how great and wonderful Iraq`s cooperation was.

Yes, admittedly, they were allowing inspectors to visit sites. But these were
sites that were under routine monitoring by the Special Commission on Iraq.
And we never had problems going--access to any of those sites, with the
exception of the palace. And that`s--the palace is the one place where Iraq
this time exhibited their utmost frustration.

DOBBS: The U.N. weapons inspection team is going to move up from about
50 this week to about 100 perhaps by the end of the month.

First, is that an adequate number of inspectors to carry out the job? And,
two, how long does it take them to get it done, in your judgment, thoroughly
and effectively?

SPERTZEL: To do a complete job, that is a totally inadequate number,
because of the sheer number and volume, the numbers of the sites.

But if, as I think the world expects, that, in the latest declarations submitted
by Iraq, the material is far less than complete, then it should not take that
long to ascertain at least elements of that are not complete.

DOBBS: What happens now? Do you think that weapons will be found? Or
do you think--characterize, if you will, this round of inspections.

SPERTZEL: Sure. I think the chances of actually finding weapons as such,
whether it being a chemical-filled munition or a biological-filled munition, I
think is very remote. I wouldn`t expect even--the Special Commission I don`t
think would have picked up something like that.

Rather, what I expect with the declarations, is, there`s going to be serious
omissions, omissions not just based on U.S. and U.K. intelligence, current
intelligence, but even omissions relating back to the findings by the Special
Commission, as presented to Iraq during the technical evaluation meetings
that took place on all the disciplines, missile, chemical, and biology, and for
which there was clear-cut solid evidence this material. This evidence in this
omissions were certified by Kofi Annan`s special panels in 1999.

DOBBS: When you say clear-cut solid evidence, of biological weapons,
chemical weapons, nuclear weapons?

SPERTZEL: In the case of biology, for example, we know it`s not just
weapons. It`s the weapons program.

And, for example, in the case of the Daura foot-and-mouth disease facility,
we made it quite clear to Iraq that we had solid evidence that were anthrax
spores, evidence of anthrax spores inside the fermenter, something that
could not be contamination from the outside in.

Iraq sort of admitted that, but tried to explain it away by saying that one
particular tank had been taken from this facility over to the al-Hakum, and,
while it was at the al-Hakum complex, it was used to store anthrax spores.
So, that`s an admission. And yet I don`t expect any comments on that.

DOBBS: Well, we will look forward to seeing what comments we do have.
And we look forward to you coming back to rejoin us, former U.N. weapons
inspection team member Richard Spertzel, bioterrorism expert.

Coming up next here: Senate investigators say two of the country`s largest
banks played a much larger role than first thought in Enron`s deception,
collapse and scandal.

That story and still more coming up on MONEYLINE. Stay with us.

(COMMERCIAL BREAK)

ANNOUNCER: Tomorrow on LOU DOBBS MONEYLINE: Iraq declares it
has no weapons of mass destruction. The White House remains
skeptical. Kenneth Pollack, expert on Iraq, says Baghdad is the most brutal
regime since Stalinist Russia. He joins Lou tomorrow on LOU DOBBS
MONEYLINE.

(COMMERCIAL BREAK)

DOBBS: In our ``Corporate Crime Watch'' tonight: Senate investigators
today said Citigroup (Company: Citigroup Inc.; Ticker: C; URL:
http://www.citi.com/) and J.P. Morgan Chase (Company: J.P. Morgan
Chase & Co. ; Ticker: JPM ; URL: http://www.chase.com/) both helped
Enron hide debt and to inflate profits in previously undisclosed deals.

More information will be released Wednesday, when the Senate
Subcommittee on Investigations holds a hearing, that subcommittee being
chaired by Senator Carl Levin.

In our Enron corporate America criminal scoreboard, 32 executives have
been charged, four of them from Enron. The number of days since Enron`s
collapse now: 373.

The stock market fell sharply today, dragged down by technology, financial
and airlines.

Christine Romans is here now to tell us about what was a bad sell-off.

CHRISTINE ROMANS, CNNfn CORRESPONDENT: It was.

It was the biggest one-day decline for the Dow in a couple of weeks. But
volume was a little bit lighter than the December average. So, that might be
good news for some of the bulls that are still out there.

Take a look at the Dow today. You can see that the market was weak
throughout the session, falling about 172 in the end to 8473. Lou, it closed
on the low, which concerned some people. And there were eight declining
stocks for every three advancing stocks.

IBM (Company: International Business Machines Corporation; Ticker:
IBM; URL: http://www.ibm.com/) a big problem here: down $2.5, one of
those valuation calls, Banc of America Securities saying that it was
downgraded. Just, it`s outrun its fundamentals for the moment. And there a
few catalysts. We saw also the same kind of calls on Nextel (Company:
Nextel Communications Inc.; Ticker: NXTL; URL: http://www.nextel.com/)
and Qualcomm (Company: Qualcomm Incorporated; Ticker: QCOM; URL:
http://www.qualcomm.com/). And some of the brokers on the street are
saying they expect more valuation downgrades to come, simply since so
many of those stocks have rallied so sharply.

DOBBS: As if this market needed any more downward pressure today.

ROMANS: Absolutely.

DOBBS: The effect of United?

ROMANS: That was felt throughout the market. Bank One (Company:
Bank One Corporation ; Ticker: ONE ; URL: http://www.bankone.com/) is
going to take a $45 million charge. Also, that`s related to aircraft lease
agreements. Boeing (Company: The Boeing Company ; Ticker: BA ; URL:
http://www.boeing.com/) Capital said it has $1.3 billion in financing to this
company. You`ve also got EDS (Company: Electronic Data Systems
Corporation; Ticker: EDS; URL: http://www.eds.com/) warning on its
fourth-quarter forecast, Lou, because of a 5 cent impairment because of its
exposure to UAL. And United Technologies (Company: United
Technologies Corporation ; Ticker: UTX ; URL: http://www.utc.com/) makes
Pratt & Whitney jet engines. It was down sharply today. And, also, there
was a very active trade for UTX.

DOBBS: And tomorrow the Fed.

ROMANS: And tomorrow the Fed, absolutely.

DOBBS: Christine, thank you--Christine Romans.

Well, now for the preliminary results of our poll tonight: 22 percent of you
say we would give Turkey $5 billion in aid, $12 billion more to Israel and $8
billion in loan guarantees; 78 percent, however, say we should not.

You may continue to vote on this issue over the next 23 hours. One vote per
person, the good old American way, if you will. We`ll have the final results
for you tomorrow evening.

Coming up next: a few final thoughts on affirmative action.

Stay with us.

(COMMERCIAL BREAK)

DOBBS: There are few issues that excite our national psyche like affirmative
action.

Advocates maintain it`s necessary to assure equal opportunity and diversity
in our schools and workplaces. Opponents claim affirmative action denies
equal opportunity and is inherently unconstitutional. But, in my opinion, it`s
less an issue than a manifestation of far deeper problems we continue to
ignore as a country.

Ask almost anyone in this country, white or minority, liberal or conservative,
Democrat or Republican, whether they believe our schools and workplaces
should be representative of our society, whether they believe in diversity,
and most will, without hesitation, say, yes, absolutely. We as a society
have a shared vision of this nation: life, liberty and the pursuit of happiness,
and, yes, equal opportunity.

But the Michigan case the Supreme Court will decide next year, no matter
what their judgment, stands as far more than a rallying issue for the
advocates and the opponents of affirmative action. It is a clear statement of
our failure as a nation to make affirmative action an irrelevancy.

Our elementary and our secondary schools are failing in their mission to
provide a quality education to all, but especially African-Americans and
Hispanics. Too many parents are failing their children, because both fathers
and mothers must work to provide for their families.

Business and political leaders must take the forefront in changing the way
we ignore and ultimately abuse the children we neglect in our public school
system. These failures, in my opinion, can only be overcome when both
Democrats and Republicans commit themselves to a vast improvement in
our schools, allowing teachers to educate students who want to learn and to
assure parents the opportunity to participate in and be responsible for their
children`s education from the first grade on.

That would be truly an affirmative action that would do our nation proud and
assure we never have another embarrassment like the Michigan case.

Now let`s look at your thoughts.

Robert James from Colorado had this to say about United Airlines`
bankruptcy. ``After numerous bankruptcies,'' he says, ``cessation of service
to smaller communities, incredible variances in charges from day to day,
isn`t it about time we again considered reregulation of airlines?''

Regarding our Friday ``Editors Roundtable,'' Matt Lang from Canada wrote to
say: ``Steve Forbes must be in favor of legalizing marijuana. Anyone who
would predict a 50 percent market climb must be smoking something.''

I don`t think so.

And, finally, Paul Gustavson has a suggestion on how to settle the
admissions policy at Augusta National Golf Club, the home of the Masters
golf tournament. Paul writes: ``Have Annika Sorenstam play Tiger Woods 18
holes on a mutually agreed-upon golf course, men`s, women`s tees. If
Annika wins, the Augusta and the Masters is open to the ladies. If Tiger
wins, it remains the boys` domain.''

Paul, that`s a real stroke of genius. I don`t think it will fly.

Send your e-mails to MONEYLINECNN.com. We enjoy hearing from you.

That`s MONEYLINE for this Monday evening.

Join us tomorrow night. Our guests will include author, former CIA Agent
Kenneth Pollack. He will spell out the case for attacking Iraq.

Thanks for being with us. For all of us here, good night from New York.

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