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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 26, 2003
Page
24
February consumer confidence sank to 64.0 in the Conference Board index, a 14.8 point drop to the lowest since October 1993 amid war with Iraq fears. Dow Jones slid to a four year low before a late rally as analysts noted jitters and weak job prospects.
Four former Qwest Communications executives were charged in a 12 count federal indictment with devising a scheme to record more than 33 million dollars in revenue by falsely reporting a purchase order and concealing it. The case, announced by Attorney General Ashcroft in Denver, cites SEC rule violations and false documents to hide actions amid ongoing probes. Arrest warrants were issued for Graham Hall Walker and Treadway.
The IRS lists its dirty dozen scams for tax season with offshore accounts and identity theft at the top. Improper offshore accounts risk civil penalties after April 15 and potential criminal prosecution. identity theft includes fake bank notices and data theft by preparers. Scams include fake checks, false home business deductions, and deceptive “untax” packages.
Readers write with cat dog mix ups and breed anecdotes in the Ask Jerry column. Jay asks for a doglike cat breed while others offer pet recommendations and describe Tonkenese as a lap cat. A safety note warns about handling trash in public restrooms and needle risks.
Wall Street closed higher after a choppy session despite a weak consumer confidence report. The Dow gained 51.26 to 7909.50 while the Nasdaq rose to 1328.98 and the S&P 500 to 838.57. Existing home sales hit a record high, aiding sentiment amid war and economy concerns. Heavily traded names like He r Block and Home Depot posted gains, while DuPont and Honeywell declined.
NASD SIPC AISGG Assal Managers independent of WSS Allen Telecom. Local stocks list varied figures for Emerson Electric to Walmart Stores with prices shown like Ford Motor 80.6 and Proctor Gamble 62.69 along with other company quotes.
The dollar fell amid weak US data on Tuesday before recovering on hopes Iraq conflict could be avoided. The euro slipped to $1.0769 and the dollar traded at 117.25 yen, after closing higher against most majors. HSBC's Marc Chandler noted euro retreat chances despite ongoing war risk.
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