Debt clock restarted as numbers increase
Real estate executive Douglas Durst restarted a billboard debt clock on a Sixth Avenue building near Times Square to warn on rising government deficits. The sign now shows about 6.12 trillion dollars in national debt and roughly 66,800 dollars per U.S. family, a jump from 5.5 trillion when unplugged two years earlier.
MENTIONED IN THIS ARTICLE
Douglas Durst
Durst
U.S
Seymour Durst
Sixth Avenue
42Nd Street
Times Square
Beef checkoff program allowed to continue for now
A federal appeals court granted a stay on a lower court order that would have halted beef checkoff collections next week. The 8th Circuit keeps the program operating while it reviews Judge Kornmann's June ruling that the program violates First Amendment rights, delaying the end of funds collection.
MENTIONED IN THIS ARTICLE
U.S. Department of Agriculture
U.S. Circuit Court of Appeals
Appeals Court
U.S
Charles Kornmann
South Dakota
Kornmann
USDA
Farmland seeks UBS Warburg as adviser in bankruptcy
Farmland Industries has won approval to hire UBS Warburg as financial adviser during its bankruptcy reorganization. The cooperative, which has been marketing a Coffeyville refinery, filed for protection May 31 and plans to sell some operations. It owns a nitrogen fertilizer plant in Lawrence that ceased production over a year ago.
MENTIONED IN THIS ARTICLE
Farmland Industries
UBS Warburg
Farmland
Coffeyville
Robert Terry
Lawrence
Former Rite Aid executives charged in federal fraud case
Former Rite Aid Corp chairman Martin L Grass and three other former Rite Aid executives pleaded innocent to federal criminal charges. They allegedly participated in an accounting fraud to boost investor appeal. They surrendered passports and were released on their own recognizance after processing.
MENTIONED IN THIS ARTICLE
Rite Aid Corp
Martin L. Grass
Rite Aid
Federal Building
Agency seeks split of Westar electric from other business
The Kansas regulator CURB urges a split of Westar Energy Inc turning the electric operations away from its non electric interests. CURB favors removing chairman and CEO David Wittig from electric duties while noting KCC cooperation is needed to press such a deal. Wittig defends leadership and cites strong shareholder support.
MENTIONED IN THIS ARTICLE
Toreka
Westar Energy Inc
Citizens’ Utility Ratepayers Board
Westar
CURB
David Wittig
Walker Hendrix
Wittig
Hendrix
Hill
KCC
Wall Street risks to the recovery from market slide
Washington AP analysts warn the stock market rebound may derail the recovery as Wall Street momentum falters amid accounting scandals. Dow dips 11.97 to 8801.53 while S P 500 shows near 20 percent annual decline. Economists fear a reverse wealth effect hurting consumer spending, which drives two thirds of the economy, despite June retail strength and solid home and auto sales due to low rates.
MENTIONED IN THIS ARTICLE
Washington
Bush
Wall Street
Main Street
Mark Zandi
Economy.com
U.S
Dow
Standard & Poor
David Wyss
Standard & Poor’s
New York
Aquila chair defends 10.3 million compensation
Aquila Inc. chair Richard Green Jr defended his 10.3 million pay packet for 2001 as company performance improved then, while noting stock losses and 1000-plus layoffs that followed. He testified before a Senate panel blaming Enron fallout and California price manipulation for broader industry issues.
MENTIONED IN THIS ARTICLE
Aquila
Kansas City, Mo
Aquila Inc
Richard Green Jr
Green
Washington
Senate
Enron Corp
Enron
California
Regulators probe Bristol-Myers revenue practices
The Securities and Exchange Commission investigates Bristol-Myers Squibb over potential $1 billion revenue inflation last year. Bristol-Myers cooperates as shares drop 4.5 percent to $22.11. Inquiry focuses on whether wholesalers' incentives to buy drugs aided earnings projections.
MENTIONED IN THIS ARTICLE
New York
Securities and Exchange Commission
Bristol-Myers Squibb Co
Bristol-Myers
Bonnie Jacobs
New York Stock Exchange
Bristol- Myers
Ings
Also Mentioned on This Page
Westar Energy
Kansas Corporation Commission
RLA
Stephen Hill
Hurricane
Broadway
General Motors
SATUS
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