CBS Evening News - 2002-01-22
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Read a transcript preview of “CBS Evening News - 2002-01-22” from malgent, uploaded on 2025-11-21.
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Language: English (YouTube automatic captions)
[0:00] 's wedding and Dr. [music] Phil. Next
[0:02] ET.
[0:04] >> Kmart KO. The retail giant staggers into
[0:08] bankruptcy court. What becomes now of
[0:11] thousands of stores, a quarter million
[0:14] jobs in all 50 states. The Enron
[0:18] debacle. An insider tells CBS News he
[0:22] saw Enron spinning out of control more
[0:24] than a year ago. CBS News learns the
[0:27] Pentagon will change a policy that
[0:30] angered some US service women. And eye
[0:33] on America. Smugglers just love this
[0:37] plane. What's so special? Wait till you
[0:40] see.
[0:43] [music]
[0:46] This is the CBS Evening News with Dan
[0:49] Rather reporting from [music] CBS News
[0:52] headquarters in New York.
[0:54] >> Good evening. A once mighty American
[0:56] institution has fallen on hard times.
[0:59] Kmart filed today for court protection
[1:01] from its creditors under the bankruptcy
[1:03] laws. Founded a century ago as a chain
[1:06] of SS Kresy Five and Dimes, the
[1:09] modern-day Kmart store was born in 1962,
[1:13] and soon there were thousands. Kmart is
[1:16] the third largest discount chain in the
[1:18] country. So, what went wrong? CBS's
[1:21] Anthony Mason has more about that and
[1:23] what may be in store for Kmart.
[1:27] >> Attention Kmart shoppers.
[1:28] >> The famous Blue Light could go out in as
[1:31] many as 500 Kmart stores after the
[1:34] discount chain today became the largest
[1:36] retailer ever to file for bankruptcy.
[1:39] >> We face very intense competition across
[1:41] the board and very weak holiday sales
[1:44] period.
[1:45] >> Look up and look around. That blue
[1:46] light's flashing again back here in the
[1:48] back of our Midway.
[1:49] >> With 2100 stores in all 50 states, Kmart
[1:52] employs 240,000 workers, but [snorts]
[1:56] sales have fa