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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
May 28, 2003
Page
18
Sprint announced it has started transforming its telephone network to transmit voice calls as data packets. The program aims to offer services like online voice mail and easier network expansion, with Sprint stating the move will reduce costs, and Mike Fuller noting cheaper growth for the system.
Environmental activists from Greenpeace blocked the entrance to Exxon Mobil's Irving Texas headquarters and climbed the roof to protest inaction on global warming. Greenpeace says 32 protesters were arrested though police did not confirm the total. The action coincides with the company's shareholder meeting in Dallas.
Microsoft Corp pulled a security improvement for Windows XP after it disrupted Internet connections for about 600 000 users who installed the update. Officials said the option, available since Friday on Windows Update, was incompatible with third party security software like Symantec. Users could reconnect only by removing the update, which aimed to improve reliability of secure corporate Internet connections.
Tenet Healthcare Corp. replaces chief executive Jefrey Barbakow with Trevor Fetter as acting CEO after a board meeting by phone. The company said it would search for a permanent successor to restore investor confidence in the troubled hospital chain.
Economical reports on consumer confidence and home sales boosted stocks in New York. The Nasdaq rose 46.60 points to 1,556.69, a 3.1 percent gain, while the Dow gained nearly 180 points. Analysts cited solid housing data and confidence as drivers after Memorial Day holiday trading.
Washington reports lower mortgage rates drew buyers in April lifting new single family home sales 1.7 percent from March to a seasonally adjusted annual rate of 1.03 million. Existing home sales also rose sharply, marking the fifth best month on record according to the National Association of Realtors, signaling strong housing demand despite the broader market.
Lawrence businessmen Christopher Hepp and Joe De Fio, owners of PlayPiano America at 1410 Kasold Drive, push a digital piano driven plan to franchise across all 50 states. They claim digital pianos offer a lifeline as the industry faces its steepest decline since 1910 and foresee more than 1,000 stores, aiming to become the McDonald's of piano shops.
The euro rose to $1.1932 in European trading, surpassing the prior peak of $1.1884. U.S. exporters benefit from a weaker dollar while Europe’s economy and American tourists face higher costs. Quotes note travel price hikes and tourism impact amid terrorism fears and SARS worries.
The Supreme Court refused to hear appeals from Santa Monica and San Francisco seeking to ban ATM surcharges charged by banks to noncustomers. A San Francisco federal judge blocked enforcement in 1999, and the 9th Circuit upheld. ATM fees typically run $1.50 or more per transaction.
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