Bush signs corporate fraud bill and targets executives
President Bush signed sweeping anti fraud legislation as Senate scrutiny rose over telecoms and Enron related scandals. Merrill Lynch faced questions about aiding Enron while WorldCom Global Crossing and Qwest executives were questioned over stock option cash outs ahead of collapses. Senators pressed leaders to explain accountability and investor protection amid an election year scandal wave.
MENTIONED IN THIS ARTICLE
Washington
Senate
Enron
White House
Bush
Congress
Capitol Hill
Merrill Lynch & Co
Merrill Lynch
Carl Levin
D-Mich
Governmental Affairs Committee
WorldCom Inc
Global Crossing Ltd
Qwest Communications International Inc
John McCain
R-Ariz
McCain
Senate Commerce Committee
Confidence Dips to Five Month Low in July
The Conference Board reports July consumer confidence at 97.1, down from a revised 106.3 in June. A steep stock selloff and job worries weighed on sentiment, with analysts expecting 101.5. The index covers about 5,000 U.S. households and guides outlook for spending, about two-thirds of economic activity. July’s reading marks the lowest since February at 95.
MENTIONED IN THIS ARTICLE
Conference Board
U.S
IBM to Buy PwC Consulting for 3.5 Billion
IBM Corp plans to acquire PwC Consulting for 3.5 billion dollars in cash and stock, strengthening its Global Services unit with about 30,000 new employees. The deal hinges on regulatory approvals and PwC partner consent and is expected to close by late Q3.
MENTIONED IN THIS ARTICLE
IBM Corp
PricewaterhouseCoopers
Pwc Consulting
IBM
Global Services
Pwc
Sprint plans new 1.5 billion credit line amid liquidity show
Sprint Corp said it arranged a 1.5 billion bank credit to replace an existing 2 billion facility expiring in 2003. It claimed no taps will be made as cash flow remains strong and forecast breakeven in 2002. Shares jumped over 13 percent, trading as high as 9.00 before closing up 0.96 at 8.26 on the NYSE.
MENTIONED IN THIS ARTICLE
Sprint Corp
Sprint
U.S
Sprint Pcs Group
Overland Park
New York Stock Exchange
Graves expands drought warning to 83 Kansas counties
Gov. Bill Graves announced an expanded drought warning covering 83 counties amid hot, dry weather that threatens crops livestock and water supplies. He called the losses to agriculture “hundreds of millions,” saying the drought is the most significant in state history and urged federal assistance.
MENTIONED IN THIS ARTICLE
Topeka
Bill Graves
Graves
Kansas
Douglas
Johnson
Sedgwick
Shawnee
Wyandotte
Arkansas
Missouri
Kansas- Lower Republican
Kansas Water Office
Republican
Solomon
Upper
Cimarron River
Smoky Hill Saline
Drought alerts trigger water use curbs in Kansas counties
Area under drought warning includes Douglas Jefferson Leavenworth Johnson and Shawnee with declining supplies and urged restrictions on nonessential use. Drought watch covers Franklin Osage, with state seeking voluntary reductions and disaster declarations to unlock grants and loans. Graves and LeDoux call for relief measures, livestock tax breaks, and ongoing monitoring as authorities urge water conservation amid drying lakes and pastures.
MENTIONED IN THIS ARTICLE
Douglas
Jefferson
Leavenworth
Johnson
Shawnee
Franklin
Osage
Cowley
Ford
Edwards
Water Office
al LeDoux
Abilene
Dodge City
Hays
Louisburg
Marysville
Tonganoxie
LeDoux
Mike Hayden
Wildlife and Parks
State Lakes
Hayden
Kansas
NCS Pearson Eyes Lawrence Expansion Plans
Bloomington based NCS Pearson contemplates expanding its Lawrence operations to accommodate new contracts and space needs. Officials expect a fall decision on expansion, with potential new call center jobs mainly for customer service representatives and managers, though exact numbers and salaries remain undecided. The firm already employs 617 in Lawrence and recently added 120 staff under a $140 million INS contract.
MENTIONED IN THIS ARTICLE
NCS Pearson
Lawrence
David Hakensen
Hakensen
East Hills Business Park
Lawrence Center
Immigration and Naturalization Service
Minnesota
Arizona
Iowa
Kansas
Virginia
Tax break repeal could trigger thousands of layoffs
Boeing Caterpillar and other major U.S. firms warned Congress that losing a World Trade Organization deemed illegal export tax break could trigger mass layoffs and lower stock prices. Executives told Senate Finance Chair Max Baucus that repealing the tax would mean a sudden $5 billion tax hike on exporters and could force Boeing to cut up to 9,600 jobs with suppliers losing about 23,000.
MENTIONED IN THIS ARTICLE
Washington
U.S
Boeing
Caterpillar
Congress
World Trade Organization
European Union
Senate Finance Committee
Max Baucus
Dmont
Finance Committee
James Trust
Boeing Co
Also Mentioned on This Page
Wall Street
News of Credit Line
Douglas County
Ray Kohman
Saline
Dickinson
Kohran
By Chad Lawhorn
Clawhorn
Ljworld.com
Dilbert
Becky
Tam Becky
Bob
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