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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Sep 02, 2000
Page
5
Closing prices and market quotations provided by Ron Campbell Investment Planning Raymond James Financial Services cover OS Money on September 1 2000. Data reflects NASD SIPC member firm sources with price levels and related figures.
AP reports First Union Corp, the sixth largest U.S. bank, agreed to buy JWGenesis Financial Corp for 90 to 110 million dollars to expand into the independent broker field. JWGenesis, Boca Raton based, has about 500 brokers in 34 states and will join First Union Securities. The deal is slated to close in January with final price tied to brokers who stay. JWGenesis stock dropped about 30 percent to around 10.31. First Union shares fell modestly to 28.44.
Tazewell County plans to convert the Long-Airdox complex in Claypool Hill into the Tazewell County Industrial Mall with 3,900 to 25,000 square foot spaces for multiple manufacturers and service firms. Start-up funding will come from a Virginia Coalfield Economic Development Authority line of credit, with Long-Airdox to receive rental income and the county to purchase the property once 60 percent leased.
Bluefield development officials discussed creating an industrial park within city limits with Norfolk Southern involved and shell buildings as a potential enhancement. Downtown fiber optics were highlighted as a key factor for two firms, while officials reviewed annexation issues and funding matching for a $600,000 downtown streetscape project.
August unemployment rose to 4.1 percent as payrolls fell 105000. Census layoffs and a Verizon strike drove the drop, masking new jobs elsewhere. The report signals Fed rate efforts easing growth while a still healthy job market remains. Public sale notices and court filings appear in the same compilation.
Stocks closed higher in quiet pre holiday trading as the Dow gained 23.68 to 11 238.78 and the Nasdaq rose 27.92 to 4234.27 while the S P 500 added 3.09 to 1520.77. Unemployment and productivity data mixed, inflation signals easing, prompting optimism in financial and technology shares.
McDowell County Commission invites proposals for legal, appraisal, and relocation consulting services tied to the Indian Ridge Industrial Park. Requests cover title searches, acquisition, relocation, appraisals, and related duties under HUD and WV programs. Proposals due September 25, 2000.
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