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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
May 21, 2005
Page
7
Market watch dated May 20 2005 reports combined market data with 1468 new highs and 1771 declines, 64 new lows and 183 unchanged. Nasdaq diary notes 1459 advances 55 new highs 1545 declines 193 unchanged with volume near 1.5 billion shares.
Maple Grove High School senior Zachary W. Mann, 18, is under scrutiny in a LexisNexis Seisint data breach case. Authorities say phony accounts tied to Florida and Texas police departments were used to access Social Security and driver license numbers of tens of thousands. Mann has not been charged, but a Secret Service affidavit links his screen name majestic to a post exposing identifying data in January. His parents reported prior use of stolen card numbers and online purchases through eBay.
Hamilton Gov. Taft proposes eliminating personal property, inventory and corporate franchise taxes and replacing them with a commercial activity tax that excludes the first $1 million in sales. The plan also raises beer and tobacco taxes, while Senate leaders seek to kill the beer and wine excise hike. Local business owners at a forum debated long-term gains versus short-term costs, with officials arguing the shift could attract investment and create jobs.
A bankruptcy judge postponed ruling on whether United Airlines can force a new five year contract on its machinists until May 31 after two days of tense bargaining. United seeks 176 million a year in concessions as part of 700 million over five years to emerge from Chapter 11, while the IAM argues the cuts are unfair and asks workers to bear a 25 percent share.
Best Buy Co. implements a policy to limit sales of violent and sexually explicit games to minors. The move follows a shareholder resolution by religious groups led by Christian Brothers Investment Services, which was withdrawn after the policy was announced and praised by the coalition.
Trump Entertainment Resorts emerges from bankruptcy with a new name and $102 million a year in debt relief. The restructuring cuts debt to $1.25 billion, shifts majority control to bondholders, and installs a bondholder dominated board while keeping Trump as largest shareholder and chairman.
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