Thursday Morning<br>Business Wrap

Six thousand soft drink workers face hard times ahead, reports CBS News Correspondent Ed Crane. Coca-Cola announced yesterday a $300 million cost-cutting plan that will cost one in five Coke employees their jobs. Half of the jobs to be cut are in the US.

Alan Greenspan came calling on Capitol Hill, politely asking for another four-year term but didn't make direct comments on a rumored Fed interest rate hike.

Did you buy that new home or refinance your mortgage last year? Mortgage rates were about two points lower just a few months back, but are now approaching eight and half percent in some urban areas.

In the markets:

• The Dow managed only a slight gain despite some bullish earnings reports.
• The Nasdaq narrowly averted a hundred point loss.

• Ford reported a 73 percent surge in earnings -- beyond Wall Street's expectations.
• In the tech sector, eBay posted a big gain after announcing higher earnings and expansion plans.
• 3M reported a 28 percent boost in profits, citing renewed demand for its products in Asia.
• There may be a new McDonald's in your neighborhood soon. McDonald's announced plans
  to add almost 2,000 new restaurants next year. The company's earnings were up ten percent for 1999, a penny lower per share than analysts had been predicting.