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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Dec 28, 2004
Page
7
The New York Stock Exchange diary shows 644 3 NYSE advance total 1,279 new highs 1,988 declines and 29 new lows with volume 1 180 722 425 while Nasdaq diary registers 7 advances 1 327 new highs 1 796 declines and 10 volume 1 486 554 339 indicating overall market breadth and activity on year end trading day.
Comair, a Delta subsidiary based at Cincinnati/Northern Kentucky, says it will operate about 60 percent of flights Monday and needs two more days to restore a full schedule after a system wide cancellation weekend. At Hebron airport long baggage lines reflect widespread delays amid re routing efforts. US Airways also faced an operational meltdown with hundreds of cancellations from Thursday through Sunday and baggage handling problems in Philadelphia.
Wal-Mart seeks to nearly double the Fairfield store size with a 72,085 square foot expansion on the western side of the existing 149,344 square foot building. The plan, filed with Fairfield Township, aims for rapid construction likely starting February or March, as competitors like Target eye the area.
Retailers report holiday sales finishing better than started with gains in online and luxury sectors. Wal Mart sees December midforecast while Target aims for 3 to 5 percent same store growth. J C Penney expects single digit gains for Novembers and December. Gift cards rise in popularity and comScore cites a 28 percent online increase.
Franklin Raines, ousted as Fannie Mae chief executive after five years, is set to get a monthly pension of over $114,000 for life. Filing with the SEC also shows $8.7 million in deferred compensation through 2020 and more than $5.5 million in Fannie Mae stock. Regulators seek to pause payouts during investigations into the package and the retirement terms. If retirement is June 22 as asserted, he could gain an extra $600,000 in salary and total postretirement pay above $116,000 monthly. Regardless, total annual take exceeds $1.3 million plus benefits. Raines and CFO Timothy Howard were ousted by the board on Dec. 21.
AOL says spam volume fell as spam complaints dropped after adjustments for subscriber declines. The company cited spammers giving up as many messages fail through filters or risk legal action.
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