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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jan 31, 2001
Page
4
Investors flock to blue chip stocks while awaiting Federal Reserve news. Analysts note buying in UDL and other favorites as markets brace for policy signals. The Dow Jones Industrial Average ended the session up sharply, gaining about 1794 points amid hopes for safer tones and economic stabilization.
Stocks edged lower on weaker consumer confidence the Nasdaq and Dow barely moved. Procter Gamble and Coca Cola led gains while Walmart slipped and Amazon fell after hours signaling continued recession fears and slow earnings ahead. Overseas markets were mixed with Japan down slightly and Britain's FTSE rising.
Chemical maker W R Grace and Co reports a fourth quarter loss of 107.6 million dollars amid rising asbestos related claims. More than 124000 claims filed, with potential Chapter 11 protection and a threatened non renewal of its 364 day credit facility. Grace warns the litigation environment has worsened, contributing to a 14.7 million loss for the year while maintaining 300 million cash on hand.
Pete Wissinger is named chief police officer of Wells Fargo Home Mortgage based in Des Moines Iowa. The firm operates an Omaha center and Wissinger has held the chief operating officer role since January 2000 with Norwest Mortgage history dating to 1934. Wells Fargo Home Mortgage earned 310 million dollars last year, up 17 percent.
A national media buying service based in Fredenck seeks a partner owning 5 to 40 percent to fund a same date launch of a revenue producing commerce site. Second stage business plan and financials available to serious inquiries with NDA. Call Chuck at 201-668-7831.
Mid Atlanta Medical Services Inc expands operations to the former Shoppers Food Warehouse at Hillcrest Plaza Shopping Center. About 100 employees transfer from the Frederick center on Oak Street and other locations to the new operations center. Beth Sammis cites continuation and expansion of practice operations and back room functions.
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