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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jul 01, 2000
Page
5
Closing prices quotations provided by Ron Campbell Investment Planning Raymon d James Financial Services. Member NASD SIPC.
Ford Motor Co. is named leading bidder for Daewoo Motor Co., a move seen as a setback for General Motors which once held exclusive rights to bid. Analysts question if the $6.9 billion bid is too high for a company that posted a $3.9 billion loss last year and carries $18 billion in debt while needing restructuring. Daewoo has attracted attention from Ford GM DaimlerChrysler and others who have offered billions. A separate item notes a San Francisco online service, Hotwire.com, backed by six major carriers, will sell deep discounted seats to fill underbooked flights starting this fall. Another brief reports HMOs plan to close doors to Medicare beneficiaries next year, potentially dumping at least 711,000 elderly and disabled Americans. regulators say Medicare payments and rules have made serving seniors unprofitable.
Washington AP report shows Americans spent cautiously in May with a 0.2 percent gain, continuing a slow pace after April. Durable goods fell 1 percent while nondurable goods rose 0.2 percent. Incomes rose 0.4 percent as the unemployment rate edged up to 4.1 percent.
President Clinton signed the Electronics Signatures in Global and National Commerce Act in a Philadelphia ceremony near historic documents. He demonstrated with a smart card swipe and mouse click, noting online contracts gain full legal force and could simplify mortgages, insurance, and brokerage signings.
Stocks closed a volatile week with gains as tech and semiconductor names lead a late rally. Dow rose 49.85 to 10 447.85, Nasdaq gained 88.89 to 3966.12, and S P 500 up 3.32 to 1445.71. Investors weigh cooling inflation risk against ongoing growth and upcoming earnings reports.
The Town of Bluefield announces holiday related changes to pickup routes. Garbage on Monday July 3 will be collected with Friday June 30. Recycling on Tuesday July 4 will be collected with Wednesday July 5 garbage. Customers with Monday or Tuesday regular pickups should note the change.
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