(CNN Student News) -- October 15, 2008
Quick Guide
Investigating ACORN - Learn about widespread allegations of voter registration fraud.
Turning the Corner? - Consider whether the U.S. financial crisis has turned a corner.
A Different Age - Discover some of the factors behind Japan's aging work force.
Transcript
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN STUDENT NEWS ANCHOR: Hi, I'm Carl Azuz. It's the middle of the week, the middle of the month, and the start of a new day of CNN Student News.
AZUZ: First up, allegations of voter registration fraud just weeks before the country heads to the polls. Last week, election officials in Indiana said that more than 2,000 registration forms filed there were bogus. Some included names of the dead, and one was the name of a fast-food restaurant! Similar accusations have been made in several other states, and they all involve the same group: ACORN. Bill Tucker reports on this growing controversy.
(BEGIN VIDEO CLIP)
BILL TUCKER, CNN REPORTER: Witnesses came before the Cuyahoga Board of Elections in Ohio. They told of being harassed to register to vote.
CHRIS BUCKLEY, VOTER: So, the people walk up to me and asked me would you sign these papers? So, I be like, "No, I'm already registered." And then they just ask me again, like, "I need a job. I'm just trying to hold on to a job. So would you sign this for me? I need 25 of them or I need certain amount of them to do it." So me being a kind hearted person, I say yeah.
TUCKER: The workers doing the voter registration were from ACORN, or the Association of Community Organizations for Reform Now. One of the witnesses testified he registered 73 times even though he was already registered to vote.
FREDDIE JOHNSON, VOTER: Some of the individuals that worked at ACORN gave me cigarettes for a signature or a couple of dollars for a signature.
TUCKER: After hearing the testimony, the board voted to ask the county prosecutor to investigate ACORN. It is the latest in a long line of investigations of voter registration fraud for ACORN, a line that stretches back over several years. ACORN is currently accused of submitting false registration forms in at least a dozen states. A spokesman for ACORN says that in virtually every case, the fraud now being looked at is fraud the group identified first.
SCOTT LEVENSON, ACORN: We went through registration forms, tagged potential problems, notified boards of elections. That's why one of the things we've been asking for is regular meetings with the state boards of elections.
(END VIDEO CLIP)
AZUZ: These allegations against ACORN seem to be a repeated pattern. Over the past four years, twelve states have investigated claims of phony registration forms, and complaints about the group have shot up nationwide in recent weeks. ACORN says it doesn't tolerate the type of behavior mentioned in the testimony you just heard, and that any workers found to commit registration fraud are fired.
Shoutout
MICHELLE WRIGHT, CNN STUDENT NEWS: Time for the Shoutout! What constitutional amendment established the U.S. voting age as 18? If you think you know it, shout it out! Was it the: A) 18th Amendment, B) 20th Amendment, C) 26th Amendment or D) 28th Amendment? You've got three seconds -- GO! In 1971, the 26th Amendment set the national voting age at 18. That's your answer and that's your Shoutout!
Promo
AZUZ: The presidential election is less than three weeks away, but the the final face-off between Senators Barack Obama and John McCain is taking place tonight! Before you tune in to the event, check out our Debates Viewing Guide! It's available at CNNStudentNews.com!
How Now, Big Dow?
AZUZ: Turning our attention to the economy, now, and an up-and-down day for the Dow Jones Industrial Average. After Monday's big rally on Wall Street, the economic indicator was all over the place yesterday. During morning trading, the Dow was up about 400 points. In the afternoon, it was down about 300. When the wild ride ended, the Dow closed out the day down just 76 points. Not great news, but nowhere near the brutal losses of last week.
A Word to the Wise
WRIGHT: A Word to the Wise...
recession (noun) a significant decline in economic activity
AZUZ: Now, we can't officially say we're in a recession, because experts can't declare that until at least six months after one starts, and sometimes, not until after it's over. Another economic uncertainty: Whether this financial crisis is turning the corner. Allan Chernoff looks at the issue.
(BEGIN VIDEO CLIP)
ALLAN CHERNOFF, CNN REPORTER: Monday's record point gain for the Dow Industrials came after the worst week in its history. So, is the Wall Street roller coaster ride ready to rest? Don't bet on it. Many traders say the market crashed last week, the Dow losing 18 percent. And after a crash, the market always rebounds. Monday's gain was an 11% jump. Analysts say if Friday marked a bear market bottom, there will be more big gains to come. Problem is, no one knows if the market really did hit bottom.
SAM STOVALL, STANDARD & POOR'S: I call it a Moses Movement, because basically in 40 days you recoup about a third of what you lost in the prior bear market.
CHERNOFF: In September, 2001, when the stock market reopened after the 9/11 terror attacks, the Dow tumbled 14% in a week. The following week it bounced back 7%. In 1987, the Dow plunged nearly 23% on Black Monday, October 19th. The following two days it rebounded 17%.
FRANK GRETZ, SHIELDS AND COMPANY: When you get to that kind of point of a decline, where fear feeds on itself, I mean that's an ending phase. Crashes come at the end of a bear market, not at the beginning.
CHERNOFF: There still may be tough times ahead, though. The bank lending freeze has to thaw, and forecasters warn the economy is probably headed for a serious recession. After stocks rebounded in late 2001, they sank to a new low a year later as the economy fell into recession.
(END VIDEO CLIP)
California Wildfires
AZUZ: Out in southern California now, strong winds are fanning the flames of several large wildfires that have forced thousands of people to leave their homes. Governor Arnold Schwarzenegger declared a state of emergency Monday in Los Angeles and Ventura counties. That will free up funds to help fight the blazes. Schwarzenegger said firefighters are "facing the perfect storm of strong winds, low humidity and heat." At least two people have died. The flames scorched tens of thousands of acres state-wide.
Shoutout Extra Credit
WRIGHT: Time for a Shoutout Extra Credit! What word describes the study of aging? Is it: A) Ornithology, B) Ageology, C) Numerology or D) Gerontology? Another three seconds -- GO! The term gerontology was coined in 1903 as the study of aging. That's your answer and that's your Shoutout Extra Credit!
AZUZ: When you think about the elderly, maybe you imagine senior citizens playing shuffleboard or bridge or bingo, something like that. But you probably don't think about them working. After all, retirement seems like one of the benefits of getting older. But in Japan, where more than 20 percent of the population is over the age of 65, many senior citizens keep clocking in. Kyung Lah examines this aging work force.
(BEGIN VIDEO CLIP)
SETSUKO KATAYAMA, JAPANESE MCDONALD'S EMPLOYEE: Irashaimase! (Welcome!)
KYUNG LAH, CNN REPORTER: In a busy downtown McDonald's, a greeting from perhaps an unexpected voice.
KATAYAMA: Irashaimase!
LAH: Setsuko Katayama is 68 years old, in charge of making the perfectly salted french fry.
KATAYAMA: Mmm. Good!
LAH: "Great," she says, just like her post-retirement job. "The busier I am, the more work is fun," says Katayama. "The young people worry about me when it gets busy, but I'm having fun." Satomi Nishiya is one of those young people. At 18, she's 50 years younger and learning to re-think what "elderly" means.
SATOMI NISHIYA, JAPANESE MCDONALD'S EMPLOYEE: I had this image that old people stay at home and do hobbies. But I see that working can make them lively. They can still be youthful.
LAH: It's a mindshift that Japan is going through: re-evaluating the so-called "silver crew," seniors who retired but are back in the work force. With low birthrates and high longevity, nearly one out of seven Japanese workers is now over the age of 60. Japan is rapidly aging. It has the highest ratio of elderly to young people. So, a senior work force in this graying economy is a necessity. While some work because their savings are running out, Hakuhodo Advertising Company, which studies elderly trends, says that's not the only reason. "There's certainly an economic incentive for them to work," says Setsuo Sakamoto. "But really, it comes down to wanting to reconnect with society."
LAH: The city of Tokyo is actively recruiting part-timers for city services, from security to traffic control to bike control, jobs these seniors might not have done in their prime, but delight in now. Kanehiro Daiba is 72. He's not here for the pay, which he says is not so great. "Retirement is great for six months," says Daiba, "but after that it's so boring you don't know what to do with yourself."
LAH: So these workers have found a way to beat boredom and win the approval of employers. "There's really no difference between old and young employees," says Katayama's manager, "because the seniors really want to work." Japan's economy is adjusting, and at least in this fast food joint...
KATAYAMA: Irrashaimasse!
LAH: ...welcoming the changing times. Kyung Lah, CNN, Tokyo.
(END VIDEO CLIP)
Before We Go
AZUZ: Before we go, a high-flying fictional sport leaps into real life. But this quidditch match doesn't look nearly as cool as the ones in the Harry Potter movies. Now, if you ran around in a cape holding a broomstick, you might get some odd looks. And so do they. But these quidditch competitors don't seem to mind. They think taking part in the popular Potter pasttime is just as much fun as reading about it.
Goodbye
AZUZ: Ok. That magical moment wraps up today's show. We'll see you again tomorrow. I'm Carl Azuz.
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