July 7, 2004

Securities and Exchange Commission asks two dozen mutual fund companies to provide details about payments they may make to ensure that their funds are included in corpoorate 401(k) plans; wants to assess prevalence of so-called pay-to-play arrangements among funds and what effect these deals may have on performance fo retirement plans; pension experts say many companies that offer 401(k) plans are unaware of hidden compensation arrangements that influence which funds are included on 401(k) menu and which are not; arrangements between fund companies and intermediaries may increase investors' costs, diminish returns and result in poorly performing funds being offered on 401(k) menu while better funds are left off; Fidelity Investments, Putnam Investments, Dreyfus Corp and T Rowe Price say they are complying with document requests (Market Place column) (M)

Shares of Mitsubishi Motors, which won shareholders' approval for bailout of as much as 546 billion yen ($5 billion) in June, falls to record low on concern that company might be delisted from Tokyo Stock Exchange; graph (S)

Sen John Kerry names John Edwards as his vice presidential running mate, saying North Carolina senator has shown courage and conviction as champion of middle-class Americans and those striving to reach middle class; Edwards and family join Kerry family in Pittsburgh after Kerry campaign makes announcement to supporters by e-mail; photos; Democrats say Edwards's buoyant personality and sunny speaking style will bring needed jolt of energy to ticket, and provide striking contrast to Vice Pres Cheney; also hope Edwards, with black support, will put North Carolina and other Southern states into play (M)

Detroit Tigers defeat New York Yankees, 9-1; photos (M)

News analysis of Sen John Kerry's choice of vice presidential running mate observes that Sen John Edwards has vigorous campaign presence, engaging personal manner and crisp message that Democrats fear Kerry himself lacks; photo; map and graphs on contest; decision also shows Kerry to be methodical, discreet, coolly pragmatic and self-assured, and so intensely focused on victory as to be unruffled by unflattering stylistic contrasts; logic of choice is noted across political spectrum, from Walter F Mondale to Dan Quayle; Edwards offers geographical diversity, strong appeal among minority voters and courtroom legal skills that Vice Pres Cheney will soon experience firsthand (M)