World News Tonight (ABC) - 1998-09-01

Channel: malgent

Transcript

Language: English (original, YouTube automatic captions)

[0:00] Tonight

[0:04] >> on World News Tonight this Tuesday,

[0:08] >> the stock market recovers a big chunk of

[0:10] yesterday's loss. How does such a

[0:13] violent swing affect the individual

[0:15] investor? The financial and political

[0:18] crisis in Russia. What can these two

[0:20] diminished leaders do, if anything about

[0:23] it?

[0:24] >> Breaking ball built deep toward left.

[0:26] THERE SHE GOES. NUMBER 55.

[0:31] >> And the race for the record. It takes

[0:33] two to make history. We talk to the one

[0:37] man who knows.

[0:45] >> From ABC News World Headquarters in New

[0:48] York, this is World News Tonight with

[0:51] Peter Jennings.

[0:52] >> Good evening. There was a powerful rally

[0:54] on Wall Street today, but for millions

[0:56] of investors here, there, and

[0:58] everywhere, it was another volatile day.

[1:00] There was more trading today than ever

[1:02] before. More than a billion shares

[1:05] changed hands on the New York Stock

[1:06] Exchange alone. There was still enormous

[1:09] anxiety about yesterday's plunge and

[1:11] what it means. But look at the top line

[1:13] there today. That's today's story. The

[1:16] Dow Jones Industrial Average, which

[1:18] tracks many of the most familiar stocks,

[1:20] closed up 288 points, regaining more

[1:24] than half of yesterday's loss. On the

[1:27] NASDAQ market, where technology stocks

[1:29] took such a hammering yesterday, that

[1:31] market had a record gain of 75, almost

[1:34] 76 points to close at 1575.

[1:38] There is a lot to learn about this.

[1:40] First, we go to the market itself and

[1:42] ABC's Betsy Stark.

[1:45] 412 over 52.

[1:47] >> Blue chip stocks beaten down yesterday

[1:50] led the market higher today.

[1:52] >> Just crossed 25,000.

[1:54] >> Bargain hunters snapped up quality names

[1:56] at much lower prices. Merc shot up more

[1:59] than 6 and a half. Pepsi rose nearly

[2:01] five. AT&T almost four. Badly bruised

[2:05] technology stocks also rebounded.

[2:08] Microsoft jumped more than five. Dell

[2:10] climbed more than eight. And Intel was

[2:13] up more than four.

[2:15] Still, these stocks are well below their

[2:17] recent highs, and doubts remain about

[2:20] where they're headed from here. For much

[2:22] of the day, the Dow lurched up and down

[2:25] with investors undecided about the

[2:27] market's direction.

[2:28] >> They're going back and forth between

[2:30] greed and fear, and it literally changes

[2:32] on a minute-to-minute basis.

[2:34] >> The trillion dollar question remains.

[2:36] Was today just a fleeting reprieve in an

[2:39] ongoing brutal decline?

[2:41] >> I don't think we've seen the bottom yet.

[2:43] Um, history would say after a day like

[2:45] Monday that the market will be very

[2:47] vulnerable to making a lower low

[2:48] somewhere in the next 6 to 12 weeks.

[2:51] >> One test ahead, the next batch of

[2:54] corporate earnings. If global economic

[2:56] pressures push them down, investors may

[2:58] have another reason to sell. Today, more

[3:01] big banks warned of losses related to

[3:03] the collapse of Russia's economy. So,

[3:06] while an update is nice, this is still a

[3:09] skittish market susceptible to bad news

[3:11] and Wall Street isn't sure what's next.

[3:14] Peter,

[3:14] >> thanks very much. Betsy Stark on Wall

[3:16] Street itself. There's no question we

[3:17] need to take a closer look given how

[3:20] uncertain investors appear to be. And

[3:22] with an unprecedented number of people

[3:23] invested in the stock market now, 44% of

[3:27] American households, market corrections

[3:29] of this magnitude can be chilling to the

[3:32] individual investor. So, how was today?

[3:35] Here's ABC's Morton Dean.

[3:38] >> Watching the stock market ticker was an

[3:40] American obsession today in gyms,

[3:43] outside brokerage offices, in New York's

[3:46] Time Square. And many small investors

[3:50] like those we found dining at Atlanta's

[3:52] Silver Skillet said they had an appetite

[3:55] for bargains.

[3:56] >> Oh, yeah.

[3:57] >> Was he buying today? Yeah,

[3:59] >> the further investors were from

[4:00] retirement age, the more likely they

[4:03] were to see yesterday's plunge as

[4:05] today's opportunity.

[4:06] >> It's supposedly a buying opportunity now

[4:08] that things are low and then that'll

[4:10] help boo. Maybe I'll retire a little

[4:11] earlier.

[4:12] >> Most brokers spent the day urging

[4:14] clients to hang in there.

[4:16] >> The worst thing you can do is to sell,

[4:18] so don't do any selling. The Mcquids of

[4:20] San Francisco agreed even though on

[4:23] paper yesterday they lost more than

[4:25] $20,000.

[4:27] >> We feel that the uh you know economy is

[4:29] strong and uh you know until I lose

[4:32] confidence I think in the economy and

[4:34] the stock market I'll hang in there.

[4:36] >> Still there are many small investors who

[4:38] are hedging their bets. Last Friday and

[4:40] yesterday they pulled $3.6 $6 billion

[4:44] out of mutual funds that invest in

[4:46] stocks and park that money somewhere

[4:48] they considered safer.

[4:50] >> I had probably 50 probably about 50 to

[4:53] 60% of my investments in the stock

[4:56] market uh prior up to two weeks ago and

[5:00] I'm down to about probably about 15% of

[5:02] it. For investors who had survived many

[5:05] ups and downs over the years, it was not

[5:08] the time to buy or sell, but to be

[5:11] philosophical.

[5:12] >> I'm not in panic.

[5:15] Let my heirs worry.

[5:17] >> Orton Dean, ABC News, New York.

[5:21] >> Couple of reminders. The stock market is

[5:23] not an infallible indicator of the

[5:25] overall state of the economy on a one or

[5:27] two day basis. and consumer confidence

[5:30] in the overall economy is not

[5:32] necessarily linked to how well the

[5:33] market does on days such as yesterday or

[5:35] today. However, what everyone is

[5:38] watching for are signs that girrations

[5:41] in the market will prompt Americans to

[5:43] stop spending as freely as they have.

[5:45] Remember, twothirds of the overall

[5:47] economy is generated by what American

[5:50] consumers spend. Here's ABC's Antonio

[5:53] Mora. It is the engine that drives the

[5:57] US economy.

[6:00] Americans opening their pocketbooks to

[6:02] buy a car in Miami, a refrigerator in

[6:05] Chicago, or a new outfit in New York.

[6:07] Free spending consumers have helped fuel

[6:10] the second longest economic boom since

[6:12] World War II. As the stock market was

[6:14] going up, people felt more wealthy and

[6:16] were willing to spend a little bit more.

[6:18] As the stock market goes down, they'll

[6:20] feel a little bit less wealthy and will

[6:22] probably spend a little bit less. and

[6:24] Americans will be less wealthy. Stocks

[6:27] now account for almost a quarter of a

[6:29] typical household's assets, even more

[6:31] than their homes. So, it's no surprise

[6:34] that across the country today, many

[6:36] people said they would spend less or at

[6:38] least more carefully.

[6:40] >> I've personally put off some large

[6:42] purchase items such as big screen TV and

[6:45] and other electronics.

[6:47] >> Even before the stock market's troubles,

[6:49] consumer spending had started softening.

[6:51] In July, it dropped for the first time

[6:53] in two years by 2/10en of 1%. Big ticket

[6:57] items were hit much harder, declining

[6:59] 5.2%.

[7:01] And sales of new homes fell by 1.6%.

[7:04] In New York City, real estate prices and

[7:07] sales had soared with the stock market.

[7:09] Now, some are putting on the brakes.

[7:11] >> We're rent currently renting and decide

[7:13] to rent for another year or so while we

[7:16] wait and see what happens with the

[7:17] market. We've already seen a quick

[7:19] reaction to what went on with the stock

[7:20] market yesterday. We had roughly 10% of

[7:23] our deals on the table. I'm sorry to

[7:24] report uh change their minds about

[7:27] signing the contract.

[7:28] >> Most analysts think consumer spending

[7:30] will not slow down enough to trigger a

[7:32] recession. With salaries up and

[7:34] unemployment, inflation, and interest

[7:36] rates low, they think this will be only

[7:39] a small hiccup in the country's

[7:41] continued economic growth. Antonio Mora,

[7:44] ABC News, New York. Quick check in some

[7:46] other countries today. Japan was up

[7:48] nearly 2%, Hong Kong was down almost 3%,

[7:51] Germany down nearly 1% and markets in

[7:54] Brazil up nearly 7%. In just a moment,

[7:57] the day's other news, a very strange

[8:00] summit meeting. President Clinton steps

[8:02] into the political maelstrom that is

[8:04] Russia today. And a lot of people

[8:06] thought they were milliondoll winners.

[8:09] We're not talking about the market. They

[8:11] were not. Congress wants to know why.

[8:16] This is World News Tonight with Peter

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[9:41] >> In Moscow today, President Clinton began

[9:43] his summit meeting with Boris Yelson.

[9:45] Mr. Clinton is in Russia at a time when

[9:47] there is no functioning government. When

[9:49] the acting prime minister has said

[9:51] nothing about his plan to help the

[9:53] country recover and the country as a

[9:55] whole is in its most profound crisis

[9:57] since the fall of communism. So how can

[10:00] Mr. Clinton hope to help the situation

[10:02] in any way? in Moscow for us. Sam

[10:04] Donaldson.

[10:07] >> Presidents Clinton and Yeltson

[10:09] toasting the future at tonight's state

[10:11] dinner, which capped a day of public and

[10:13] private maneuvering over how much of a

[10:15] future Russia may have. From the moment

[10:18] they greeted each other with an affusive

[10:19] hug in the morning, it was clear that

[10:21] the main focus of their talks would be

[10:23] on whether Yeltson would and could push

[10:26] through economic reforms. Mr. Clinton

[10:29] told a university audience reforms were

[10:31] absolutely necessary if Russia expecting

[10:33] to get any more Western help.

[10:35] >> A nation must convince its own citizens

[10:37] and foreigners that they can safely

[10:40] invest to get your fair share of

[10:43] investment. You have to play by the

[10:46] rules that everyone else has to play by.

[10:51] The rules, the president said, are belt

[10:53] tightening reforms, such as resisting

[10:55] the temptation to print money to

[10:56] artificially inflate the economy and

[10:59] enforcing tax collections, particularly

[11:01] on wealthy speculators. But even as

[11:03] Yeltson pledged to follow the path of

[11:05] reform, his ability to do so was further

[11:07] threatened. Gennady Zuganov, the

[11:10] communist leader of the Duma, hardened

[11:12] his party's opposition to ever

[11:14] confirming Victor Cherneran, Yelson's

[11:16] prime minister designate, and other Duma

[11:19] members chimed in. We do not believe

[11:21] that he is the person uh that can sort

[11:25] out this mess.

[11:26] >> Alexi Arbatov, a non-communist Duma

[11:28] member, says Yelson must compromise.

[11:31] >> So you say the compromise is to throw

[11:33] Mr. Turner Midton over the side.

[11:35] >> Right. I think President Yelson should

[11:38] suggest another candidate.

[11:40] >> But if Cherno Miran is eventually turned

[11:42] down for good, Yeltson doesn't have to

[11:43] nominate another candidate. He could

[11:45] dissolve parliament and hold new

[11:47] elections, something he's hinted at.

[11:49] Although he told President Clinton today

[11:51] that some tactical adjustments in the

[11:53] direction of state control might be

[11:55] necessary. All of which produced this

[11:58] unusually blunt assessment of the

[11:59] political struggle from US Deputy

[12:01] Secretary of State Strobe Talbot.

[12:03] >> State of play of course is dynamic and

[12:06] it's uncertain and it is not over to put

[12:10] it mildly. But until this political

[12:12] struggle, which is really over Russia's

[12:14] future direction, not just the fate of

[12:16] one nominee, is settled, nothing can be

[12:18] done about the economic crisis, which

[12:20] grows worse daily. President Clinton has

[12:23] talked the talk here, Peter, but when

[12:25] his meetings are over tomorrow, he

[12:27] probably will have made no real impact

[12:29] on the way this drama plays out.

[12:31] >> Thanks very much, Sam Donaldson. In

[12:33] Moscow, political news of the Clinton

[12:35] administration, another person who's

[12:36] worked very closely with Mr. Clinton may

[12:38] soon be looking at an independent

[12:40] council. Former Deputy White House Chief

[12:42] of Staff Harold Ikis is the man in

[12:45] question. Attorney General Janet Reno

[12:46] has begun a 90-day preliminary

[12:48] investigation into whether Mr. lied to a

[12:51] Senate committee which was looking at

[12:53] campaign finance violations.

[12:56] In just a moment, we're going to look at

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[15:07] There's another big storm headed for the

[15:09] US. Tropical storm Earl is about 240 mi

[15:12] south of New Orleans. Forecast is

[15:13] expected to become a hurricane and

[15:16] warnings have been posted from Pasigula,

[15:18] Mississippi to Cameron, Louisiana. A

[15:20] hurricane watch not quite as serious has

[15:22] been set from Deston, Florida to High

[15:25] Island, Texas. Mandatory evacuations

[15:28] have already been ordered due south of

[15:29] New Orleans in Grand Isle, Louisiana,

[15:32] where as of now forecasters think Earl

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[15:37] Southern California tonight, dramatic

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[15:43] wildfire season. Nearly 30,000 acres are

[15:46] burning in several counties. This one is

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[15:50] the most property damage so far. 26

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[15:56] evacuated.

[15:57] There is increasing pressure tonight on

[16:01] the companies that flood our mailboxes

[16:03] with letters promising instant wealth.

[16:05] And there's also increasing heat on the

[16:07] pitchmen who promote those companies.

[16:10] Today, Congress has heard from a number

[16:12] of people who believe that they were

[16:14] swindled in these sweep stakes. Here's

[16:16] ABC's John Martin.

[16:19] >> Senators heard stories about people like

[16:21] George Lum who flew all the way from

[16:23] Hawaii to Tampa, Florida. Richard Lusk

[16:26] came from California. Doug McKitty from

[16:29] New York.

[16:29] >> Where's my money?

[16:32] >> They said they had to get to Tampa

[16:33] quickly to claim $11 million in a

[16:36] contest sponsored by American Family

[16:38] Publishers. Letters they received said,

[16:41] "It's down to a twoperson race. You and

[16:43] one other person were issued the winning

[16:45] number. Whoever returns it first wins it

[16:48] all.

[16:49] >> The numbers match. They cannot deny it.

[16:52] >> But Lusk and dozens of others who made

[16:54] the trip were told they had not won

[16:56] anything and to go home. The letters

[16:58] were signed by Dick Clark and Ed

[17:00] McMahon, spokesman for the company,

[17:02] which is 50% owned by Time Warner.

[17:04] >> Congratulations, you're a millionaire.

[17:07] >> Neither would talk to us, but McMahon

[17:09] did talk to a radio station about the

[17:11] wording. It says you may join the other

[17:14] MIT winners. There's an may and an if in

[17:16] every This is not just some company that

[17:18] opened up a storefront. This is Time

[17:20] Warner.

[17:21] >> Time customer service processes the

[17:23] entries. A former worker says one

[17:25] entrance who came here was a 92year-old

[17:28] priest desperate to collect the money.

[17:30] >> He wanted it to build a school for his

[17:33] church before he died. I mean, it was

[17:35] just

[17:37] it was heart it was heart-wrenching.

[17:39] American Family Publishers uses the

[17:41] contest to solicit magazine

[17:43] subscriptions. It says it has changed

[17:46] practices to avoid misunderstandings.

[17:48] >> We were doing nothing wrong with those

[17:50] mailings, but we wanted to send a strong

[17:52] signal to consumers and policy makers

[17:55] that we were capable of real change.

[17:57] >> They haven't changed any of their

[17:58] practices at all.

[18:00] >> Gary Betts of Florida's Economic Crimes

[18:02] Unit says the company merely changed a

[18:04] few words.

[18:05] >> Their intent is to deceive them. It's

[18:06] illegal. And that's what in the whole

[18:08] that's what the whole package is.

[18:10] >> Florida is one of five states suing

[18:12] American Family, which has already

[18:13] settled with 33 states for $2 million.

[18:16] But as senators seem to agree here

[18:18] today, without new laws, it will be very

[18:21] hard to protect the public from the most

[18:23] cleverly worded sweepstakes promotions.

[18:26] John Martin, ABC News, Washington. In

[18:29] just a moment, we're going to revisit

[18:30] the US missile attacks after the attacks

[18:33] on the embassies in Africa. The Clinton

[18:35] administration having a hard time

[18:36] answering some questions.

[18:42] >> Since I made my chocolate chip cookies

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[19:28] >> Traffic sounds bad.

[19:29] >> Yeah. So, tell me about Cantex. Just

[19:32] jump to 43 even. You're long 20,000.

[19:35] >> What's the best way to sell that?

[19:36] >> Checking the quote.

[19:39] >> There's a huge size on the bid. No need

[19:41] to break it up. You can move it as a

[19:42] block.

[19:43] >> Good. Sell it to market. Okay.

[19:46] >> Placing an order. Moving 20,000.

[19:50] >> Moving nowhere in Santa Monica.

[19:52] >> Confirm. 20,000 sold at market.

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[20:59] There are questions again today about

[21:01] the US justification for striking a

[21:03] pharmaceutical plant in the Sudan after

[21:06] those attacks on American embassies in

[21:08] Africa. As we've already reported, since

[21:10] the plant was hit by missiles two weeks

[21:12] ago, there has been evidence that it may

[21:15] not, as claimed, be a facility used to

[21:17] make chemical weapons. Tonight, ABC's

[21:19] John Miller has more.

[21:23] Military and intelligence sources say

[21:25] the Sudin chemical plant was added to

[21:27] the target list less than 24 hours

[21:29] before the missile strike. Sources say

[21:32] the administration wanted a target in

[21:34] addition to Bin Laden's camps in

[21:36] Afghanistan to show the US was moving on

[21:38] what they called bin Laden's worldwide

[21:40] network of operations.

[21:42] >> That's just the wrong way to do it.

[21:43] >> James Wolsey, a former CIA director,

[21:46] said the president may have approved the

[21:48] targets in a hurry on the basis of too

[21:50] little advice. This should not be the

[21:52] kind of decision that is made only with

[21:55] three or four people around you of

[21:58] cabinet level who don't know an impa

[22:01] sample uh uh from their left foot. In

[22:04] defending the target choice,

[22:05] intelligence sources and officials have

[22:07] been very busy working the telephones to

[22:09] reporters and members of Congress. They

[22:11] provided an unusual amount of what would

[22:13] normally be highly classified

[22:15] information. information like the CIA

[22:18] had informants who passed lie detector

[22:20] tests and provided soil samples showing

[22:23] EMPA, a nerve gas precursor, was present

[22:25] outside the factory. But since the

[22:27] attacks, the US has had to back off from

[22:29] conclusive statements that were made on

[22:31] the day of the missile strike.

[22:33] Statements like the factory did not

[22:35] produce medicine. It now appears it did.

[22:38] That it produced a precursor of nerve

[22:40] gas. Officials now say they believe

[22:42] that, but they can't prove that. that

[22:44] the factory was financed by Osama bin

[22:46] Laden. Now, officials say they believe

[22:48] there are indirect links to bin Laden.

[22:51] This afternoon, the CIA director and

[22:53] defense secretary gave an unclassified

[22:55] briefing to senators. But tomorrow, the

[22:57] Senate Select Committee on Intelligence

[22:59] closes the doors and asks the tough

[23:01] questions. John Miller, ABC News, New

[23:04] York.

[23:05] >> When we come back, the pitcher who is

[23:07] part of history, the other side of the

[23:10] story.

[23:12] Heat. Heat.

[23:34] The all new Mitsubishi Del. Totally new

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[23:44] >> You're on. Love matters. When love

[23:46] matters. I'm here to help. Dave.

[23:48] >> Yeah. I'm having this problem with my

[23:51] girlfriend. It's kind of involved.

[23:53] >> Diarrhea. Get it. And you want it gone.

[23:55] You're a really good listener. You only

[23:56] >> need Emodium AD.

[23:57] >> Emodium Advanced. It's even better.

[24:00] >> Only Emodium Advanced relieves diarrhea

[24:02] plus cramps and bloating by combining

[24:03] two medicines. And it's even faster than

[24:05] Emodium AD.

[24:06] >> So, was I right to invite my mom along

[24:08] in my honeymoon?

[24:09] >> Oh, Dave, absolutely.

[24:12] >> Emodium Advanced, faster relief you can

[24:14] count on.

[24:17] >> You see a business deal. At Sprint, we

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[24:27] It's the sharing of information that

[24:29] helps build business.

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[24:45] Black folk never fill up their gas tank

[24:47] all the way. We just put just enough gas

[24:50] in for the trip we're going on that

[24:51] particular day. You want me to fill it

[24:53] up, man? No. Give me $2. I ain't going

[24:55] that far.

[24:55] >> Is George Jefferson and Archie Bucker

[24:57] rolled into one. Daryl Hugley. Tuesday,

[24:59] September 22nd.

[25:01] >> Finding from us this evening, a somewhat

[25:02] different take on the home run record

[25:05] chase.

[25:07] >> Here comes the 01. And Sosa drives one

[25:09] to left field. That's back TO THE WALL.

[25:12] GONE. WITH THAT from Sammy Sosa of the

[25:15] Cubs last night, he and the Cardinals,

[25:17] Mark Maguire are tied in this

[25:19] muchwatched, heavily reported race to

[25:21] make Roger Maris' 61 in61 record a thing

[25:25] of the past. We know one man who will be

[25:28] somewhat relieved. Here's ABC's John

[25:30] Frankl.

[25:32] >> Here's the windup. Fast ball hit deep.

[25:35] THIS COULD BE IT WAY BACK THERE. WHEN

[25:38] Roger Maris belted his way into the

[25:40] record books with his 61st home run, he

[25:42] did not go alone. This is the man who

[25:45] delivered the pitch that day, a

[25:46] 24year-old rookie, Tracy Stallard.

[25:50] >> Probably if that hadn't happened, you

[25:51] wouldn't you'd have never heard my name.

[25:55] So that's it's kept me alive.

[25:58] >> This is Tracy Stallard. In a fairly

[26:00] nondescript six-year career, Stalard

[26:03] surrendered 91 other home runs. But he

[26:05] has lived with this legacy for 37 years.

[26:08] Stard delivers and he wishes it had

[26:10] never left his hand.

[26:11] >> I mean, I'm not glad to give up a home

[26:13] run. No. Or to lose a ball game, but the

[26:17] way it happened, I, you know, I'm happy

[26:19] about it. Now 61, Stallard spends his

[26:23] days golfing, fishing, and helping out

[26:26] some friends in the construction

[26:27] business who have also set up a website

[26:29] selling baseballs signed by the infamous

[26:32] pitcher.

[26:33] >> He sends a rocket deep to our left.

[26:35] >> As Sammy Sosa and Mark Maguire close in

[26:37] on Maris's record, there is talk about

[26:40] who might be the next Tracy Stallard.

[26:43] Who will be in the line of fire and have

[26:44] a career defined by a single pitch

[26:47] knocked out of the ballpark?

[26:50] The Milwaukee Brewer pitchers, a

[26:52] relatively anonymous group, are good

[26:54] candidates. They face Maguire three more

[26:57] times and Sosa another five, setting the

[27:00] pitchers up for the kind of fame

[27:02] nobody's looking for.

[27:03] >> I don't want to be attached to it and

[27:05] I'd rather I'd rather make my way some

[27:07] in a in a more positive way.

[27:09] >> But there is a very real possibility

[27:11] that one of these pitchers could become

[27:13] a partner in history.

[27:14] >> You know, if I'm the one, I just hope

[27:15] I'm not the one to give up both of them

[27:16] to so Sam McGuire. Tracy Stalard is

[27:19] excited by the home run chase. He

[27:21] suggests it is good to have a sense of

[27:23] humor about it and the pitcher should

[27:25] not be afraid of how time might treat

[27:27] them.

[27:28] >> I would say go after them and if it

[27:29] happens, it happens

[27:33] cuz they're not they're not going to put

[27:34] you in jail.

[27:36] >> John Frankle, ABC News, St. Louis.

[27:39] >> So many people are rooting for the

[27:40] record to be broken. Tomorrow, we're

[27:42] going to go to the one town in America

[27:44] where virtually no one wants to see it

[27:46] fall. And that is our report on World

[27:48] News Tonight. Later this evening on

[27:50] Night Line with an unpaid army guarding

[27:53] nuclear weapons. How much worse can the

[27:55] crisis in Russia get? I'm Peter

[27:57] Jennings. Nice to be back. Have a good

[27:58] evening. We'll see you tomorrow, I hope.

[28:00] Good night.

[28:07] Tomorrow, will this be the last summer

[28:10] break your kids will get? It's the

[28:11] latest rage in education, but will it

[28:13] make them smarter? Watch ABC's World

[28:15] News Tonight with Peter Jennings. This

[28:18] has been a presentation of ABC News.

[28:20] More Americans get their news from ABC

[28:22] News than from any other source.