Harold Maass of The Week The Best of Today's Business

NEWS AT A GLANCE

A star changes teams

NBC executives expect "Today" show co-host Katie Couric to announce this week that she is leaving to host the CBS "Evening News." She would also contribute to "60 Minutes." In exchange for the prestige of the new gig, she would take a pay cut -- from $16 million plus to about $15 million. (The Wall Street Journal, paid registration required) The courtship began more than a year ago when CBS Corp. Chairman Leslie Moonves informally asked Couric to consider taking Dan Rather's old job. The loss could hurt NBC. "Today" is its most profitable program. (The New York Times, free registration required)

Detroit loses more sales

American automakers had a rough March. General Motors' sales dropped 15 percent as the company, which lost $10.6 billion in 2005, cut back on low-profit sales to rental fleets. (AP in Yahoo! Finance) The combined U.S. market share of GM, Ford, and Chrysler fell to 56.6 percent while the share of Asian rivals rose to 38.1 percent. Toyota sales jumped 6.9 percent as it introduced the gas-sipping Yaris compact car and a version of the RAV4 sport-utility vehicle that burns less fuel than Ford's Explorer. "Toyota has the right product," said Jesse Toprak of Edmunds.com. (Bloomberg.com)

Finally, interest rates react

Long-term interest rates have started to rise after resisting pressure from the Federal Reserve for nearly two years. The Fed has been steadily hiking short-term interest rates to slow down spending and stave off inflation. But long-term rates depend heavily on other factors -- such as investor demand for bonds -- and they held stubbornly at unusually low levels. Yesterday, yields on 10-year Treasury notes matched a two-year peak, and rates on everything from corporate bonds to 30-year mortgages are now on the rise. "This is starting to look a little more normal," said Deutsche Bank economist Peter Hooper. (The Wall Street Journal, paid registration required)

Wal-Mart faces protest

Wal-Mart is selling DVDs of "Brokeback Mountain" despite a protest by a conservative Christian group. The 3-million-member American Family Association said that by peddling a film about a gay love affair between two ranchers Wal-Mart was "trying to help normalize homosexuality in society." A Wal-Mart spokesperson said the retailer stocked the film -- whose director won an Academy Award -- because people wanted to buy it. (Los Angeles Times, free registration required)

BEST COLUMNS OF THE DAY

Saving the world at shareholder expense

"I am all for saving planet Earth," says Judith H. Dobrzynski in The Wall Street Journal (paid registration required). But who should foot the bill? Goldman Sachs CEO Hank Paulson took some heat at a meeting last week for the firm's gift of 680,000 acres in Chile to the Wildlife Conservation Society. It's a legitimate beef. CEOs are the ones who get "toasted at benefits" for corporate giving. "How often is the source of the funds -- the pockets of shareholders -- even mentioned?"

The lazy path to wealth

"Sloth is one of the seven deadly sins," says Tim Hanson in The Motley Fool, "but it can be a virtue when it comes to earning market-beating returns." Find some companies that are in no danger of going bankrupt, and that pay healthy dividends that can be reinvested in additional shares. Buy the stocks, and forget about them. You will be handsomely rewarded for your laziness in the long run.

GOOD DAY FOR: Wishful thinking, as 68 percent of American workers believe they'll have enough money for retirement, although more than half have saved less than $25,000 for their retirement, according to an annual survey by the Employee Benefit Research Institute. (Associated Press)

BAD DAY FOR: Breaking news, after Amazon.com customers received an e-mail yesterday proclaiming, "UCLA Wins," and offering deals on NCAA sportswear. UCLA was trounced last night by the Florida Gators in the college basketball tournament final. "Clearly, it was a mistake," an Amazon spokesperson said. (Associated Press)

NOTED: Thanks to soaring oil prices, Exxon Mobil dethroned Wal-Mart at the top of the Fortune 500 list of the nation's largest publicly traded companies. Since the list was introduced in 1955, only three companies -- Exxon, General Motors, and Wal-Mart -- have claimed the No. 1 spot. (Fortune)