>> paul: for pc ker hewlett- packard it's all about servis. profits jump 1 as its services siness picks up. coming up, a look at the trends behind hp's numbers. >> susie: on the surface, go news about home les. but behind october's 10%ales jump bloatednventories and so prices. we look at the disconnect. paul: meet dan, he's an asi business specialt. if you nev heard of that type of job, you will a look at the growing care path, as we kickff our series "ceers for the next decade." >> susie: then, with unemployment rising, the nation's food pantes are being strehed like never before. we look at one of them i chicago and eck what it's dog to cope. >> paul: i paul kangas. susie: and i'm susie gharib this is nightly siness report fomonday, november 23 "nightly business report" is made ssible by: this program is made posble by contrutions to your pbs station from viewers likyou. thank yo captioning sponsored by bt >> sie: good ening, everyone. higher profits, lor revenues, that's wt hewlett packard said after the bell today abo its latest quartly results. the -maker confirmed the numbers itre-announced last week: excluding items,rofits rose 14% to $1.14 a sha, but revenues fell to about $31- biion. what does all this mean for p. and the tech stor. standing by th some answers, r tech expert, scott gurvey. >> reporter: susie, e big thatmes main from cost cuttin profits were down in the hardware sectors, that pc's and laptops and su and up slightlyor printers. where the mpany did best is in the newer areas of softwarand services. last year, hp boht eds, giving it a big stake in the serves sector. and just this month it bght 3com, givingt more ammunition in networking. i talk today with analyst tom smith of standard and or's who credits e eds acquisition for hp's improved results. >> hp's acquisition eds brings a subantially larger service opation to the over all deal. this gives you steadier earnings, longer term ntracts and helps u offer more of a one stop shopping soluon to combine the hardware softwe and the serviceso set it up and to maximize your ality to use the equipment tohe best effect. >> reporter: it was acally ibm which ben this shift toward one-stop shopping. big blue grew its own seices business to add its hardware ansoftware products. dell has ao been trying to versify. it receny acquired perot stems, another services company, although one ch smaller than e. but it is still strugglingith this newusiness model. >> so tell me a littleit more about del how does dell fi into this whe picture, scott. >> it's reporter: that's a good question because it hi on another of dl's problems. there's a lot ofompetition out there, acer anasus, toshiba, ev sony are all making pc's aimed at various segnts of the market is this owth specific to hp or industry wide. with onthing if the ceo house speaker ne gingrich said today that looking ahe he is seeing more businessnasia, it is very strong there, that the u.s. is turning the rner. europe is ft but it is stable is this a specific to hp's future growtor is this something, are you eing an uptick in technoly across-the-boa? >> well, you know we' heard lately from tech leaders andeos at intel and cisco, they bo told us theyave been seeing similar streth. so that with fingers croed, there issome cautious optimism out the, that this is a worldwide phenomenon >> and is still gog to be more in the serces side ofhe business rather an the hardware se qpkafter three straight sessns that the case? is this how you seit going? >> yes and no. rtainly services is where the growth is, that is there is no question about tha when you make comparisons. however, we have the situation where companies because of theconomic conditions hav put off purchasing hardware fo quite a lg time. and so thas what cisco seei, that iat intel is seeing. there is this refresh cycle, as they say, in which people e expecting there to be at least here a group of pcs and routers and things like that purchased as people begin to upgde their equipment. >> we'llee where all that goes. thanyou so much, scott, fothe update. >> thanks, susi. new yorkuru chief, scott guey reporting. >> the october existing home sales jump 10%, restoring investors confidence ithe econom recovery. incidently, we'll he more on today's usg report in a mont. by 11:00.m. the dow had surged 154 point, nasdaq up 54- 57. light trading volume slowed the lly down this afternoon but a wk dollar and aealthy showing by commodity stocks helpedhe mark close with most of itearly gains intact. the dow indurial average ended up >> susieas paul mentioned good housing numbers cheered ll street today. sales of existinhomes were up 10in october. but is the stock market reing the housing rket correctly? the answer dependsn part, on a factor called the "shado inventory". darren gersh explains. >> reporter: in this economy most any biness would be happy with a 10% jump in ses. this is a burst. >> reporr: but economist dean baker sayshe housing market remains weak. he argues e first-time hobuyer tax credit has distorted sales. >> what wagoing on here is we borrow a lot of sales from the future, so people rush ahead to buy before the tax cred endeand then once you came within sight of th ending, in octobeand certainly this mont sales have just fallen througthe floor. >> rorter: officially, the data on home ses show improvemt -- prices appear to be stabilizingnd inventory is officially at months, down from double dit highs last spri. but baker sayshat ignores what called the shadow inventory. that's roughly o million homes that aren't counted fosale cause they are in some stage of foreclosure. >> and ts is in the context of a market that is supportg maybe five million homes aear, so it is very big relati to the demand ithe market. reporter: with so many home still not on thearket, baker thin prices will fall another 10%. but lawrence yun is mo optimistic. he's chief economist forhe national assoction of realtors he says the figures showanks are selling reclosed homes into aarket that increasingly wants them. >> monthfter month, we see continually steady trimming thinventory, which would suggt that even with shadow inventory appearing, thathere is enough buyers to ickly absorb thenventory. >> reporr: still, there e so many homes o there, yun expects prices to remains so next year. and doesn't expect dole digit price apeciation to be seen again for anoer generation. >> i think in light of the ft that we went through a boom d bust, there will be more cauon among consumer >> reporter: the shadow inventory isn't the ly drag on this mket. alysts say there are also ma homeowners who wt to sell, but have been waiting for pric to recover. darren gersh, "nigly business repo", washington. paul: a different kind of fallout from the houng boom. e consumer product safety mmission today said there's link beten imported chinese drywall and corrosion und in newer home the drall in question came fromhina at the height of the buildingoom between 2005 and 2007. it went to an estimated 60,000 homes in 32 states. the question now iwho will pay to rlace it. the safety cmission is asking the irs to let homeowners duct drywall-related sts as a casualtyoss on their federal taxes. no decision on that t from the tax ma susie: if you don't want sign a 2-year contct for internet serviceor your laptop comput at&t has a better idea. the tecom is rolling out seice that lets consumers surf its network, buying cess for a day, aeek, or a month. there is a catch, though the plans offesmaller data downads than you'd get if you sied a long-term aeement. at&t and its rivs are pushing wiless laptop connections to take aantage of the growing market forhose small net-book computers. t paul, the average price ta for a month of ctract service is $60 and analysts y that's too high >> pau at&t's plan runs about $15 a day without that ctract, susie. now let's take a look atur stocks in e news tonight. and those are e stocks in the ws tonight susie. >> susie: paul, the days, finding good job isn't easy. buone way to improve the odds is to train for anp-and-coming fiel this week, we're loong at "careers forhe next decade." our first pick is "asian business development specialist". asia is an importantarket and production center for u.s. firms. and as suzanne ptt reports th's opening up new portunities for americans in the region. >> rorter: meet dan sen. he is in beijing on e of his frequentrips to china. on this sit, he is a panelist at a conference on cna's energy suppl >> china today does not ha a consumer energy problem,t has an industrl one. >> repter: as an asian market expert based inew yo, rosen advises range of companies. and, he says there's a growi need for his exptise. >> every businesneeds to know what competitive fors are changing is bottom line. ten years ago china was esntially insignificant. for thmost part it was something th might happen torrow. tomoow has arrived. d, every industry everywhere onhe planet is being profoundly affected the what's happeng in the chinese economy. reporter: in the past decad companies almost every industry have hid rosen for advice on ing business in ina or on how china might affect operations in firm's own backrd. rosen says his recommendatns used tbe mostly on business strategies. today, firms increasiny want to knohow to reach chinese consumers. companies e interested in what sectors are besto investn, hoto cope with chinese regutions and what pace of investment makesense. many also want his outlo for chinese lar costs, forecasts r china's gdp and dollar-yua exchange rates. there are many typesf china businesspecialists. somere big-picture guys like rosen. but hers specialize in particular industries such a finance or textis. tom monaco handles internaonal careerlacement at columbia university's business hool. he expects more students t focus on jobs dealing withhe asian marketple. >> i tnk they realize there is a lot of growth potentl in cha. so, i do think that ineasingly students are looking at at and taking that and considering it as a viable option for som long-term careerrowth. >> repter: rosen majored in asian studies and economs in college. he also leard mandarin and earned a graduate degree in foreign service. 20 years a, when he was looking for an internation career, he had nidea where it wod lead him. i had no doubt china would an extraordinarytory. i didn't know it would bsuch a market ecomic dynamo as it's turned out to be. >> reporter: people oking to do asianusiness analysis, coulbe employed by corporations, consultancie non profits or gernments. in addition to his work as consultant, rosen alsoerves as an economist with a washinon think-tank and as a professor heeaches a graduate seminar on china's new marketace at columbia university'school of international and public affairs. >> we have cna in red here. rmany right next to it. how manyeople realize germany was the ggest exporter on planet earth. >> reporter: students many o his students areoping one day too what rosen does. which he says habeen a dream care. >> absolely exceeded my pectations. i consideryself one of the ckiest people in the world. i don't ow very many people who have as interestg a job as i do. >> reporter: sanne pratt, "nigly business report", new york. >> paul:omorrow, helping patients navigate e health care sysm. the job of patient aocate as "careersor the next decade" continues. >> susie: a grim outlook fors auto sales: a ight recovery ne year. th's the new forecast from an analyst at fitchatings who's expecting about 11 mlion cars and truc will be sold in 2010. that's abo 8% more than this year. e report also says even if sales ss that 11 million mark autokers and parts suppliers will still spend more sh than they bri in. >> paul: general mots is looking for help from ropean governments now that it' keeping the opelrand. today, the aomaker met with reesentatives from britain, spain, pand, belgium, sweden and germany. the countries agreedo talk next month abo that aid after outlines plans for its european division. earlier this month g.m. decid to restructureather than sell el. >> susie: here's a look at what's happening tomrow: susie: tonight's commentato says there are lsons to be learned om qatar's education city. she's nadaissa, associate ofessor of public policy and economics at georgown university. >> ais usual for me each fall semester, i teach economs to georgetown uversity students. except, this timit's not in washington d.c., but at our campus in doha, qar; a tiny peninsa off the coast of saudi arabia. i dn't thought of my visit as much more than an venture, but my thr months there got me thinng and a bit worried. and not for asons you might pect. qatar's ucation city is home to severalajor u.s. universities cornell, caegie mellon and aut 1,500 students; and it is truly a fantastic experiment. thmassive investment in higher education see in qatar is in fact taking place worldwid we see that in the 140 mlion students in higher edution institutionsoday, four times many as in 1970. and, cna now has more higher education enrollments th we do. what does this all of thisean for the unit states? for sure, we befit from a more and better educated polation overseas. but we also ce some risks. because as everybody else insts in higher education, the united stas will no longer be the obviouchoice for the worlds talent; both udents and facult i've seethis happen in our own searches for young facul, lureaway by attractive offers from foreign universies. the competition is n exactly fierce tay, but if we continue to lose talent, how cawe maintain the best unersities for yo kids and mine? and how can we maintain r edge in innovatn and economic coetitiveness? let's stt by recognizing that the world is different. i'm nada eissa. >> paul: recapng today's marketction strong housing data help push stocks high. the dow gained 132 pnts and the nasd added almost 30 ints. to lea more about the stories in tonight's broadcastnd to read econo-bgger terri cullen take on the impact of plungingtate revenues go to "nightly business report" pbs.org. yocan also email us at nbr@pbs.org. >> susie: americs will sit down tthanksgiving dinner on thursday. buthis year many will get their meals from food ntries and soup kchens. currently one in seven aricans is strugglg to get enough to eat. as diane eastabrook reportfood banks e struggling to feed everyone who needs help inhis tough econom >> so, wt we're doing here is station five. do we ha enough people here for station five >>eporter: like a general, kate roche is preparing for an invasion. che and 50 volunteers at chicago's irving park mmunity food pany are furiously bagging food. are you ady? and bracing themsees for the invasion of hury clients pickg up thanksgiving food baskets. oh, yoknow me, thank you. recipients will ul 500 baskets out the door thiyear, about 150 re than last. this pantry s been around about 25 years and it typicay sees senior cizens and the chrocally unemployed. but, about a year o it began seeing aew kind of client: the first ti unemployed worker. tim buis is one of them. he's bn jobless for two years and comes to the pantreach week. i've been looking. i've bn filling out applications, but body's been callg me because the of the way the economy is rig now it's hard for anybody toind jobs. risi unemployment is sending more americans like buis to food pantrs for help. feeding amica--which represts hundreds of food banks and pantries nationwe-- says demand up more than 20% this year over last. chicago pantries g most of thr food from the greater chicago food depository and it's feelinghe pantries pain >> it's harder today tget food than probly any point in our history. >> reporter: executive dector kate maehr wks me through the massive food warehousehat distributes out 60 million pods of canned goods, produce, and meat a year. the depository gets some this like orae juice from the gornment, but it mostly counts on food compies to give it miabeled or excess food. maehr says theough economy is rcing those firms to better control inventorieand assembly lineistakes. so, that means fewer dations. how you make that up? are you getting it thrgh donations, other pple donating? well increasinglwe're having to me it up by purchasing food. so, in the case of this od nk we'll purchase about $6 million worth of foothis year. ten years ago weren't purchasi food at all. reporter: the irving park community food pantrhas been turning re to its neighbors, who frequently pull to s doors and unlo food. still, executive dector john psihar worries at some point the pantry will run dry. >> we' re very gratefufor the outpouri of support that we've had, but obvious the need is grea >> reporter: theany is also greful that it could provide thanksgiving dinner is year to everyo who asked for it. diane eaabrook "nightly siness report" chicago. >> that same storys going on in miami where you are and in new york wheri am and a lot of cits right in tween. >> these a good people. >> yes, they are. that's a good point. that's that's nightly busess report for moay, november 23. m susie gharib. odnight everyone. and good night to you paul. >> paul: goodnig susie. i'm paulangas wishing all of you the best good buys. 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