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CNN Radio News Day: December 11, 2012

CNN on December 11, 2012 21:27

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    Welcome to CNN Radio News Day.

    * In the midst of vocal protest inside and outside Michigan's capitol building, the state's lawmakers Tuesday passed right-to-work legislation. The bills will allow workers at union-represented employers to opt-out of paying union dues. Critics say the legislation will weaken unions, but supporters say it'll make Michigan more economically competitive. But those in opposition, like Terry O'Sullivan of the Laborers' International Union, say the fight will continue:

    "...I say this, if it's a fight they want, then it's a damn war they're going to get brothers and sisters!"

    * Global banking giant HSBC will pay a record fine of $1.92 billion in a settlement with U.S. regulators. The deal is to resolve money laundering allegations against it. The Department of Justice says HSBC failed to prevent the most notorious international drug cartels from laundering billions of dollars across borders. CNN Money writer James O'Toole says in the end, there is a reason regulators did not push for criminal charges or indictments in the case:

    "What they've talked about trying to do is sort of balancing the need for deterrence...with these sort of systemic concerns about disrupting the bank's business, and perhaps causing job losses....if they did go ahead with a full indictment."

    * The Atlanta Falcons are having the best season in the team's history. But away from their battles on the field, the team's been fighting a P-R battle over getting a new field. Plans for a new Falcons' stadium have been inked, and that's sparked debate that a number of other cities have faced for years - how much public contribution should go into the building of new sports stadiums? And debate over how the public is sold on the idea that the city should build a new shiny stadium. Author Neil deMause has co-written a book on the topic, and says there's a dirty little secret of these stadium deals:

    "...they don't really generate all that much money. And most of them don't even generate enough money to pay-off their own construction costs."

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