warren buffett, america s second-richest man, is a household name, his son howard not so much. and yet he s the person warren buffett wants to succeed him as chairman of berkshire hathaway, the mega holding company that buffett built. like his father, howard does not live the high life. in fact, he s a farmer who would rather dig up the ground than sit in a boardroom. are you sure he s your son? well, i think that s worth checking out. you ll have a big exclusive. [ticking] [bell ringing] for 150 years, the floor of the new york stock exchange was the center of the financial world. but today most trading in stocks is done elsewhere by robot computers that buy and sell in microseconds, faster than you can blink an eye. and the computers have done so well that some institutional traders have come to believe that the game is rigged. are humans ever involved in the trading? humans are not involved in the trading because humans are way too slow. [ticking] there are clos
the road map starts off with jc pney. as a conference call gets underway. comps and margins came in below, but is ron johnson convincing the analyst community that perhaps there is hope? the most valuable sports franchise goes public. manchester united, price is at 14. we re going to talk to the ceo. yahoo! says it may change its mind about returning proceeds to shareholders. what will they use the money for instead? and faber with interesting details on facebook, that is all we re going to say. that s enough. tune in. sorry. we start with jc penney six months after ron johnson launched a turn around. reporting a bigger than expected loss. the second straight quarter of declines since the plan was introduced. david, i m curious as to what you think because the call got underway this morning and the stock has had quite a turn around. looking down as much 6, 8%. i think we saw in the early going, you don t see losses, or i should say, declines like this in same stor
there really wasn t a feeling of panic, there was a feeling of, gee, what s going on here, particularly when the bottom fell out, for that brief period of time. susie: but for that brief period of time, stocks were in free fall, at one point, the dow dropped nearly 1,000 points. while everyone thought greece sparked the selling. tom: .it turns out, it could have been prompted by a trading mistake. we ll look at the selling, the mistake, and the potential impact on tomorrow s session. you re watching nightly business report for thursday, may 6. this is nightly business report with susie gharib and tom hudson. nightly business report is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt susie: good evening, everyone. a terrifying afternoon on wall street as u.s. markets plunged with the dow down nearly 1,000 points at 2:48 p.m. easter time. by the close, the blue chi
this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt susie: good evening, everyone. a terrifying afternoon on wall street as u.s. markets plunged with the dow down nearly 1,000 points at 2:48 p.m. easter time. by the close, the blue chips had cut their losses. tom, the selling was fast and furious. just take a look at that huge slide in this intra-day chart of the dow industrials. tom: and susie, we still ended the day with dramatic declines, the worst daily losses this year. the dow closed down 347 points, or 3%; the nasdaq tumbled 82, or nearly 3.5%; while the s&p 500 fell 37 points, or 3%. as you can imagine, volume shot through the roof, the n.y.s.e. trading over 2.5 billion shares and the nasdaq trading nearly 4.5 billion shares. susie: there were apparently two factors at work. one, at the c.m.e. in chicago where a trader may have mistakenly sold 16 billion rather than 16 million futures
this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt susie: good evening, everyone. a terrifying afternoon on wall street as u.s. markets plunged with the dow down nearly 1,000 points at 2:48 p.m. easter time. by the close, the blue chips had cut their losses. tom, the selling was fast and furious. just take a look at that huge slide in this intra-day chart of the dow industrials. tom: and susie, we still ended the day with dramatic declines, the worst daily losses this year. the dow closed down 347 points, or 3%; the nasdaq tumbled 82, or nearly 3.5%; while the s&p 500 fell 37 points, or 3%. as you can imagine, volume shot through the roof, the n.y.s.e. trading over 2.5 billion shares and the nasdaq trading nearly 4.5 billion shares. susie: there were apparently two factors at work. one, at the c.m.e. in chicago where a trader may have mistakenly sold 16 billion rather than 16 million futures