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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Mar 02, 2000
Page
5
Closing price quotations provided by Ron Campbell Investment Planning and Raymond James Financial Services. Contact (304) 325-7334 for details on NASD SIPC memberships.
February manufacturing activity rose to 56.9 from 56.3, signaling 13th straight expansion while prices for raw materials climbed to a five year high. The report notes firms fear they cannot pass higher costs to consumers even as the sector remains healthy. Employment grew for a 10th month and exports outpaced imports.
AT&T accused Bell Atlantic of inflating intrastate long distance fees in West Virginia and filed a formal PSC complaint seeking rate cuts. Bell Atlantic called the move profit motivated and said access charges help keep local service affordable in rural areas. PSC staff have 35 days to review and recommend next steps.
Logan General Hospital and Guyan Valley seek to merge with Genesis Health Systems in Charleston. An $18 million loan from City National Bank would back the deal while Logan General joins Genesis as an equal partner and shares its cancer center with St. Marys Hospital of Huntington which would invest $200,000. The plan follows the indictment of former president C David Morrison on 24 counts including embezzlement and money laundering. Logan General filed for Chapter 11 in 1998 with $63.6 million in debts and $78.4 million in assets.
On Wall Street, tech shares led gains while blue chips fell. The Nasdaq rose to 4762.00 as SBC Communications climbed on possible wireless ventures with BellSouth, while Lucent spun off units and 3Com and Sun Microsystems gained on Nasdaq.
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