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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
May 11, 2000
Page
6
Closing prices and quotations provided by Ron Campbell Investment Planning and Raymond James Financial Services. Includes market summaries and brokerage contact details for investors seeking current figures and guidance.
Microsoft asks a federal judge to dismiss the Justice Department plan to break up the company, arguing the penalty exceeds the violations found. It proposes remedies including removing the Windows desktop icon for Internet Explorer, allowing rivals software on the Windows desktop, and offering equal contracts to PC makers. Ballmer declared the company will not be broken up, echoing the ruling of monopoly and stifled innovation.
The U S House backed a five year extension of the ban on Internet specific taxes and repealed a 1998 grandfather clause. Supporters led by Speaker Dennis Hastert framed the move as pro growth for the high tech sector while critics warned of tax and sales implications for e commerce.
Ben Cohen and partner Jerry Greenfield fought to keep Ben & Jerry’s independent as SEC filings reveal how distribution deals and competing bids led to a sale. Unilever bid $43.60 a share, promising to keep the brand independent and activist stance. The deal includes substantial post sale compensation and board roles for the founders. Analysts note the merger boosts international reach but questions U.S. market impact.
Stocks fell broadly with the Nasdaq down 200 points to 3384.73 and the Dow off 168.97 as investors worried about rates. The S&P 500 dropped 29.09 to 1383.05 as tech giants like Cisco tumbled after earnings but amid Barron’s overvaluation concerns.
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