dick parsons retires after 16 years on the board. it's "nightly business report" for friday, march 2. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> susie: good evening, everyone. more red than green on wall street today. tom, it was a day of profit- taking after the market's recent run-up. >> tom: the s&p and nasdaq still posted gains for the week, susie, but not the dow, thanks to today's sll drop. by the closing bell, the dow was off about three-points. the nasdaq lost nearly 13 and the s&p slipped four. >> susie: aside from today's minor losses, the stock market has been on a steady climb up: the s&p 500 has rallied more than 9% this year. but as erika miller reports, trading volume has been very light, suggesting many investors are missing out on the gains. >> reporter: even as stocks trade close to their highest prices in two years, many individual investors are still wary. mutual funds are the most common investment for individu

as we have been reporting, dick parsons stepping down from the board of citigroup according to the "wall street journal." parsons served as chairman for three years. the journal is also reporting that the company is expected to elect michael o'neill as the chairman role. anton shipps is chief and investment officer. thanks for calling in, anton. what's your take on parsons stepping down? >> i think it was pretty well broadcast. it has certainly been rumored for quite some time. i think the role of chairman at citi is really an important role in dealing with the government at this point in time. and less so as a chief executive officer, which vikram is. if you're the chairman of this company, you've really got to be very good at handling public relations. and i think that parsons has been a little bit of a lightning rod. >> that makes a lot of sense, actually, in terms of what the day-to-day is in terms of the chairman's role. but let me ask you about performance, do you think investors will look at this as a positive, that under his leadership as chairman, the stock has plummeted? >> i t

i tell them thank you very much indeed for your time dick parsons you know how to phrase that at national australia bank thank you spend time for us today thanks very much. and i say all for now i'm actually going to have the i mean figures for the u.s. economy for a short in a few minutes time tony for that later on now. well for british science. sometimes that's right. markets finance come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines tune into cars a report on our cheap.

dick parson's new guys come in. i like that.ti, but it could be down 8% or 10% on a spike in oil. let's go to ralph in new jersey. ralph. >> caller: boo-yah, jim. this is ralph from new jersey where the philadelphia eagles fly. >> man, i'm all over that. i fell down there in the district. always bothered me. go ahead. >> caller: ip international paper which paid three dividends. >> ip, which my charitable trust owns, they're going to be able to raise price. that company has got is going. i think it's a strong buy even up here. ronald in california. ronald. >> boo-yah, jim. from california. >> good to have you. >> what do you think of boardwalk pipeline -- >> oh, jeez. of all the stocks we talked about today, that's the one that's the best. it has a good yield. it's a very solid company. i have known it for many years. i was buying it aggressively here. let's go to louis in north carolina. louis. >> caller: boo-yah, jim. >> boo-yah. >> caller: from the tarheels from the blue devils. how are you sfr. >> love the blue devils. i'm d

. >> i think dick parsons will want to have that as his parting shot when he retires in the springtime. >> yeah. >> i think he'll want to do that earlier rather than later. >> yeah. >> i think we're going to watch a game of, can you top this in the springtime here. >> i agree. >> what i don't know, guys, is whether or not you know what the other guy is asking for, when you go in to ask the fed for approval. my guess is -- >> you know that they all have adequate capital. better than adequate capital, after all of the capital raising we've been seeing and all the attention on this issue. all the banks feel they are now equipped to do this at this point and give back to shareholders. we'll be watching this. certainly it's moving the market. look at this market rallying here as we approach this final stretch on the heels of this dividend increase out of jpmorgan. we'll take a short break. what's the nasdaq doing to convince facebook to list on the exchange when the company goes public? also, we're looking at oil prices today. chevron's john watson will be with me explaining whether the ene

in other news, citi chairman dick parson is stepping down from the board after 16 years.he citi board is expected to elect former bank of hawaii ceo michael o'neil as chairman. >>> general motors is halting production of the chevy volt for five weeks because of slow sales. 1,300 workers will be temporarily laid off. shares of on-line review site yelp soared 64% today on its first day of trading. connecticut authorities have charged william ryan jennings, morgan stanley's co-head of fixed income capital markets, with a hate crime for allegedly threatening and stabbing a new york city cab driver. the incident happened back in december. jennings says he was held captive by the driver after he disputed the charge for the ride to his connecticut home. chad condit, the son of disgraced former congressman gary condit is reportedly running for congress as an independent near his hometown in rural california. finally, tonight the nfl says players with the new orleans saints had a bounty that rewarded players injuring members of the opposing team. $1,500 for a knock-out. $1,000 for