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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Dec 17, 2002
Page
5
AP report from Stockyards Peoria notes hogs trading moderately with barrows and gilts 1.00 lower. sows steady across weights. boars 6.00 to 20.00. Cattle with 125 head trading moderately. choice slaughter steers and heifers 1.25 lower. cows not enough to establish a market. slaughter steers and heifers priced across weight ranges with mixed select and choice levels.
Grain prices closed mixed as Archer Daniels Midland Co cuts crushing margins causing soybeans to tumble late in the session. Wheat rose to 3.55 a bushel for March, corn slipped to 2.3875, oats fell to 1.99, January soybeans at 5.615.
Traders bought discounted shares after two weeks of declines sending the Dow up 193.69 to 8,627.40, led by gains in the Nasdaq to 1,400.33 and the S&P 500 to 910.40. Analysts cite oversold conditions and improving earnings as supports, with upgrades lifting CSX, Delta Air Lines, and J C Penney.
Five years before Enron collapsed the Houston Chronicle reports videotaped jokes by former Enron executives at a January 1997 party about “hypothetical future value accounting” and making “a bazillion dollars,” mirroring themes in the later accounting scandal that helped topple the company.
A Chronicle report describes a going away videotape for Rich Kinder featuring President Bush and former President Bush, with skits and songs by executives and citizens. It notes Enron’s 2001 bankruptcy after high profits and debt, and recalls executives joking about accounting maneuvers and inflating earnings.
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