COMMENTS: Plastic, Pilsner, Pooka

Money features appeared on all three newscasts. ABC cross-promoted an analysis by USA Today on the relationship between credit cards and the housing slump. David Muir told us that many foreclosures are triggered by excessive home equity borrowing--and much of that was incurred to pay off extended lines of plastic credit, "a cycle that has now crashed as home values plummet." For NBC's In Depth, Bob Faw examined the takeover bid for Anheuser-Busch by a Belgian brewery as part of a larger trend. In the last decade, a weak dollar and a soaring trade deficit have combined to increase foreign ownership of domestic corporate assets fivefold. "The rest of the world owns more of America than America owns the world. The chickens are coming home to roost." On CBS, Byron Pitts offered free publicity to Pooka Pure & Simple, a skin care cosmetics firm based in New Jersey. Pitts profiled owner Dawn Fitch to illustrate the trend towards ownership of small businesses by African-American women, a sector growing twice as fast as other demographic groups. Unfortunately their income trails their numbers: the average small business owned by black women nets just $38K annually; men's small businesses average $107K.


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