Opec
>> citigroup, goldman sachs, and 13 other brokers have agreed to pay a total of $13 million to settle an s.e.c. probe. the commission is claiming that the firms have favored some customers over others in the $200 billion market for auction rate bonds. the s.e.c. has been investigating the role that brokers play in the market for over two years now. other firms that are included in the settlement today, bear stearns, lehman, and merrill lynch. and none of the firms have admitted or have denied any wrong doing. in the meantime, opec oil ministers are gathering in caracas, the capital of venezuela to talk about quotas. let’s get more on the meeting from the bloomberg reporter down there sean evers. sean?
>> there has really been very little response to venezuela’s proposals that opec should consider cutting supplies by as much as a million barrels a day. most ministers on arrival in the venezuelan capital has essentially said that that really isn’t on the cards at this time when oil prices are still near record levels of $70 plus a barrel. there is generally agreement, however, that opec is supplying more than a million barrels a day than the market is actually demanding at this time. but that that is necessary in order to let inventories build up and maybe play some role in calming prices. but the other overarching issue hovering at this meeting is the iran crisis and the standoff on the nuclear issue. there will be some relief today from the comments out of washington that president george w. bush has been willing to enter talks with iran if the country does stop producing uranium. that will be an interesting challenge for the iranian government to indeed take up that proposal because they have repeatedly said that they will not consider any proposal that involves them stopping enriching uranium. however, some concession from washington should help soften oil prices a little bit as a number of ministers have told me here today that they consider there is as much as $30 in the oil price from the geo political tension from the nigerian insurgency which has knocked out up to 500,000 barrels a day there. we have the ongoing crisis in iraq. venezuela has 20% less production today than five years ago. and of course t iranian crisis. there will be some optimism here today that the u.s. gesture has been offered. back to you in new york.
>> all right. sean evers reporting for us from caracas, venezuela this morning. coming up next, wall street and washington all watching to see how goldman sachs c.e.o. hank paulson will fit in when and if he is confirmed as the next u.s. treasury secretary. update on that next.
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>> welcome back. coming up in the city of l.a.’s diamond project, el jot guild is back home with his company and latest incarnation, “man dance.” in keeping with the times it’s lean and mean.
>> we did this one season when we decide we have enough materials and the dancers that i would like to work with. we do it then. it’s great. people should come see us. i feel fortunate to be able to work. you work through lean times and fat times. i’m content. do i have everything i want? no. i have everything i need.
>> i love one of those before you go down.
>> 30 years ago, feld was making dance. ten years ago, it was ballet tech and now it is man dance.
>> i’m making ballets like something called man dance, the shapes of how things happen change but the intent is to work with dancers that i like to work with. last season we were going to do a dance, a season for joy that had all men. i thought well, let’s goes with man dance. then a girl joined and i thought well, she is of the species man. so, it’s just a name.
>> the silhouette hang ten group is rehearsing with music by sony tread way.
>> what excites me is usually a piece of music first and then imagining an idea or feeling or sometimes just the impulse to get up and dance because it is so exciting.
>> it is gospel music for electric instruments that seems to emanate from florida mostly. it is a white jewish man and a boy from taiwan doing a bloss dance. there you have it.
>> across the hall, you have the same white jewish mail and 24 girls recruited from the public schools.
>> kids dance started maybe 15 years ago. thefor the school, we audition 30,000 every year in public schools and we select about one thousand of those children to come here for introductory classes in ballet. then it becomes a sifting process.
>> and the purpose in creating a vast new generation of struggling dancers --
>> most of the kid kids in the school would have never have come to dancing. we have made dancers that would not have been. the school is dedicated to the idea that we want to provide opportunity for children traditionally deprived of the opportunity when they require it. with ballet, you require that opportunity at a very early age.
>> dance makes me exciting. it is a cool combination of stuff. it is fun. most combinations, they are mo mostly jumps. i really love to jump.
>> i take ballet, tap and my friends think it’s funny. i say if you think it’s evil, try it.
>> fell done danced first at age 12. as a choreographer, he always has a young dancer in mind.
>> i would have liked to have been comchan. i feel like he gives my body voice. i give him d.n.a. and he makes a thing out of it. i love choreographing on him and love to watch him dance.
>> if i can find a dancer ballet dancer that will do that for us, i still expect it. it is still music, dancing and watching. elliott feld continues this month at the joyce theater.
