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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Aug 20, 2004
Page
9
Dow Jones closes with gains as industrials inch higher while a broad mix of decliners and advancers appear across the NYSE and Nasdaq. Volume totals reach about 1.6 billion on the NYSE and 1.4 billion on Nasdaq.
Federal regulators told the American Airlines flight attendants union to replace president John Ward with challenger Tommie Hutto-Blake after a Labor Department probe found 16 disputed ballots, 14 for Hutto-Blake, changing a March election result known to have Ward leading by five votes among 15,000 cast.
Nortel Networks will reduce its workforce by 3,500 roles or 10 percent as it seeks to recover from an accounting scandal that toppled three executives and triggered a criminal probe and lawsuits. The company reported six month revenue of 5.1 billion with break-even to two cents per share earnings, and warned that 2003 profit of 732 million would be halved.
New York based Barnes & Noble Inc. reports a 35 percent fall in second quarter net income to 8.9 million dollars, 12 cents per share, due to a debt-redemption charge, but excludes the one time item shows 24 cents per share. Sales rise 13 percent to 1.45 billion, with same store sales up 1.4 percent. Upgrade full year earnings outlook.
Florida officials and insurers say technology speeds claims after Hurricane Charley with mobile satellite offices helping assign claim numbers instantly. Residents in Charlotte County see faster payouts, with most claims expected paid within three months. many receive on-the-spot checks of 2000 to 3000 dollars to cover immediate needs.
Delta Air Lines trims prices at its Cincinnati hub as part of a SimpleFares plan. Fares drop up to 60 percent on many routes with no required Saturday night stay, aiming to win back customers drawn to Dayton Indianapolis Columbus and Louisville. Delta seeks concessions from pilots to curb losses while negotiating to avoid bankruptcy.
Google Inc shares surge 18 percent in their market debut on the Nasdaq after an unorthodox IPO. The stock opened at 100.01, ended near 100.34, with over 22 million shares traded and founders Brin and Page inaugurating trading amid minor Nasdaq hiccups.
The Mills Corp renovated the 1.5 million square foot Cincinnati Mills mall, formerly Forest Fair, at a cost over 70 million dollars. After a grand opening with concerts and signings, more than 90 percent of tenants were already established and thousands attended, eager for a successful future.
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