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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Apr 09, 2002
Page
5
Penske Corp says Kmart may shutter up to 700 additional locations in nationwide cutback plans filed in U S Bankruptcy Court. Kmart counters it plans no further closures until a business plan is set later this year, with only minimal reductions expected thereafter.
New York stocks recovered from IBM forecast jitters as investors reassessed the impact on broader earnings. Blue chips slipped modestly while tech shares rose, with traders noting IBM troubles appear company specific and prices lower after weeks of selling.
A corrupted OCR passage lists various stock prices and figures in a jumbled line of numbers. No clear company names, dates, or outcomes are discernible, leaving an unclear snapshot of market values and percentages.
Grain futures on the Chicago Board of Trade slip as wet weather improves the condition of the winter-wheat crop and dampens demand. May wheat drops to $2.73 a bushel, May soybeans retreat to $4.58, while May corn edges up to $2.01 and May oats fall to $2.09.
AP dispatch reports moderate trading at Stockyards Peoria with hogs 2.50 lower across weights 230-260 and 260-280. Sows down 1.00, boars split by weight, cattle activity 100 head, choice slaughter steers 68.50-69.00, select 67.50-68.50, heifers 68.50-69.00, cows not enough to establish a market.
Arthur Andersen LLP plans to cut 7,000 jobs as the 89 year old accounting giant fights for survival after Enron fallout. Newsrooms in Chicago and major U.S. offices will bear the brunt while the firm seeks a settlement with the Justice Department to drop the criminal charge shaping its future.
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