Pittston to Exit Coal Business and Focus on Security and Logistics
Pittston Co plans to sell its coal operations after 70 years to concentrate on Brink's armored car and home security, and on BAX Global transportation. The move eliminates the tracking stock tied to Brink's, BAX, and coal. Minerals Group holds 30 mines in VA, WV, KY with $600 million liabilities, mostly retiree medical benefits. market cap for these assets is $11.3 million. Pittston will swap BAX Global and Minerals Group stock for Brink's Group stock, making Brink's the only outstanding Pittston stock by January 14.
MENTIONED IN THIS ARTICLE
Richmond, Va
Pittston Co
Brink
BAX
Michael Dan
Brink’s
Pittston Minerals Group
Virginia
West
Kentucky
Dan
Minerals Group
Lion
At&t Corp
Sprint Pcs
Sprint
Pittston
BAX Global and Minerals Group
Brink’s Group
Nasdaq rises as Coca-Cola weighs Dow slips
U S stocks fluctuated with the Dow down 61.17 to 11,225.01 as Coca-Cola fell on news of chairman M. Douglas Ivester stepping down. Nasdaq rose 25.38 to 3,546.01 and the S&P 500 declined 9.96 to 1,423.34 amid profit taking and continued tech optimism. Analysts noted a normal market pause after Friday’s records and predicted further gains in tech and earnings momentum.
MENTIONED IN THIS ARTICLE
RON Campbell Investment Planning
Raymond James Financial Services
NASD
SIPC
Abbott Labs
Allegheny Electric
AFLAC
SEC Communications
At&t Corp
AM. Water Works
Anheuser-Busch
Apple Computer
IND. Tech
Ashland Coal Inc
Ashland Oil Inc
Atlantic Richfield
Baker-Hughes Inc
Baltimore Gas & EL
Bankamerica
Bell Atlantic
Bellsouth Corp
Bethlehem Steel
Boeing CO
CBS Corp
Cabot Oil & Gas
Carolina Power
Chevron Corp
Chubb Corp
Citizens Utilities
Coca-Cola CO
Columbia Gas Sys
Columbia Health
CON
Nat'l Gas
Corning Inc
Suntrust Banks
CSX Corp
CVS Corp
Daimlerchrysler AG
Detroit Edison
Dominion Res
DOW Chemical
Dupont
Eastman Kodak
Emerson Electric
Ethyl Corp
Exxon Mobil
First Union Corp
1ST
Virginia Bank
Flowers Industries
GEN. Electric CO
GEN. Motors Corp
Georgia Pacific
Gillette
GLAXO
Goodyear Tire
Hercules Inc
Humana Corp
IBM Corp
Ingersoll-Rand
Intel Corporation
K-Mart Corp
Kroger CO
Lowe's Cos
Lucent Tech
McDonald's Corp
Merck & CO. Inc
Microsoft Corp
UPS
Monsanto CO
Mylan Labs, Inc
Nash Finch CO
Navistar Int'l
Nike, Inc
Norfolk Southern
Occidental Pete
ONE Valley Bank
J.C. Penney CO
Pennzoil CO
Pepsico Inc
Phila. Electric
Philip Morris Cos
Phillips Petroleum
Pittston Brinks
Pittston Burlington
Pittston Minerals
PWR
Praxair, Inc
Pulaski Furniture
Reebok Int'l
REX Stores Corp
Reynolds Metals
Rite Aid Corp
RJ Reynolds
Rockwell Int'l
Sara Lee Corp
Sears Roebuck
Sherwin Williams
Shoney's Inc
Southern CO
Tenneco Inc
Texaco Inc
TRI Continental
Union Carbide
Union Pacific
Unisys Corp
Universal Corp
Usair Group
USX
Marathon Oil
U.S. Steel
Wal-Mart
Walt Disney CO
Wendy's Int'l
Westvaco Corp
Williams Cos
Valley Nat'l Gases
Xerox Corp
DOW Jones
New York
Coca- Cola
Standard & Poor
Scott Bleier
Prime Charter Ltd
Dow
Coca-Cola
M. Douglas Ivester
Ivester
Coke
At&t
John H. Shaughnessy
Advest Inc
Shaughnessy
New York Stock Exchange
NYSE
Japan
Germany
Britain
France
Also Mentioned on This Page
Wall Street
IBM
Red Hat
Dell Computer
Bleier
Yahoo
Motorola
Texas Instruments
U.S
First Call
Thomson Financial
S&p
Princeton
Douglas Center
Douglas Ave
First Baptist Church
First Vantage Plus
First Virginia
First Vantage
Syann LA Southwest
FDIC
Bluefield
Cedar Bluff
Claypool Hill
Four Way
Main Street
Pocahontas
Hnke. da
FirstVantap Plus
First Value
Richlands
Riverjack
Pas
APY
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