Productivity grows 2.4 percent in last quarter
Productivity rose at a 2.4 percent rate last quarter signaling a gain in living standards though slower than many forecasts and marking the weakest pace since the first quarter of 2000.
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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Feb 07, 2001
Page
8
Productivity rose at a 2.4 percent rate last quarter signaling a gain in living standards though slower than many forecasts and marking the weakest pace since the first quarter of 2000.
Cisco Systems Inc reports second quarter earnings of 874 million dollars or 12 cents a share, up from 216 million dollars a year ago. Excluding one time items, earnings reach 1.33 billion dollars or 18 cents per share. The firm cites a softening economy as a factor in slower growth. A technology awards event and a chamber of commerce leadership change are noted in related items.
Dowdell, an assistant vice president with more than 17 years in consumer banking, joins Fleet Davie as community development manager. She previously managed 23 Fleet branches and began at Onondaga Savings Bank in 1983, advancing in regional finance roles.
The Postal Service faces a multibillion dollar shortfall amid falling mail volumes and economic downturn. A rate increase is being considered with a first class stamp rising to about a penny more, while the independent Rate Commission cut other proposed hikes. Governors may overrule only unanimously, and management is ordered to trim nonessential programs and review long term pricing as capital spending is cut.
Nasdaq marks 30 years as a pioneering electronic market while contending with a weaker 2000, competing with NYSE on decimal pricing, and scrutiny over trading costs. Nasdaq officials tout growth, plus plans to expand in Europe and Japan and to separate from its parent NASD.
Rumors swirl about Bugle Boy's fate as bankruptcy proceedings begin in California. The Great Northern Mall store awaits word on its status while other outlets struggle, with Onondaga County histories noting two openings decades ago and leadership changes signaling broader troubles across the chain.
Chrysler faces stiff supplier pushback after imposing a 5 percent price cut effective Jan 1 as it seeks to cut 2.15 percent or $6 billion in component costs over three years. Some suppliers halted shipments while New Venture Gear and others negotiated, with Chrysler aiming to save more by 2003 amid broader cost cuts, plant closures, and job reductions.
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