Fed rate cut aimed at reviving weak economy era
The Federal Reserve trimmed rates by half a point amid a slew of grim reports. Major firms like Montgomery Ward Xerox Ford Chrysler Apple Computer and Bank of America faced cuts and closures as investors and economists weigh the risk of a recession. Experts cite shaky retail spending energy costs and deteriorating capital outlays as drags while tax cuts touted by President-elect Bush offer potential relief.
MENTIONED IN THIS ARTICLE
New York
Montgomery Ward
Xerox
Ford
Chrysler
Apple Computer
Bank of America
Federal Reserve
Fed
Sung Won Sohn
Wells Fargo & Co
David Orr
First Union Corp
Charlotte
Orr
Bush
Jerry Jasinowski
National Association of Manufacturers
LTV Corp
Youngstown
Steel Company
Jasinowski
Sohn
Wells Fargo
Bank of Americand First Union
N.C
Wilsons volleyball rises to stardom in Cast Away fame
CHICAGO AP Wilson Sporting Goods profits from Cast Away buzz as Wilson the volleyball becomes a Hollywood icon. The ball, found in a FedEx package on a deserted island, fetched 18 400 at online auction and signals Wilsons stronger sales across the US and Asia. Company executives note Cast Away style exposure may exceed traditional big-budget campaigns.
MENTIONED IN THIS ARTICLE
Chicago
Spalding
Wilson Sporting Goods
Michael Jordan
Pete Sampras
National Football League
Spalding Sports
Wilson
Tom Hanks
Chris Considine
Team Sports
Hanks
Buddy
Vince Carter
Venus
Serena Williams
Considine
South Pacific
FedEx
Chuck Noland
Noland
Rita Wilson
Wilsons
Asia Sees Gains as U S Rate Cut Lifts Asia Markets
Tokyo stocks rose after the U S Federal Reserve cut rates by half a point signaling a global revival plan. Hong Kong and Taiwan posted gains while South Korea rallied. Experts caution further cuts are needed for lasting regional benefits amid ongoing debt and layoffs.
MENTIONED IN THIS ARTICLE
Tokyo
United States
Asia
America
Federal Reserve
South Korea
Japan
U.S. Federal Reserve
Fed
U.S
Wall Street
Hong Kong
Taiwan
Gas prices fall nationwide as winter demand eases
Camarillo California reports a drop in the national average gasoline price to 1.49 per gallon, down 1.5 cents over three weeks. Analyst Trilby Lundberg cites lower demand and winter factors, noting a 12-cent decline since October but warns OPEC meeting on January 17 could tighten supply and push prices higher.
MENTIONED IN THIS ARTICLE
Camarillo
Calif
Trilby Lundberg
Lundberg
OPEC
Chrysler bets on Jeep Liberty in new Toledo plant
DaimlerChrysler outlines a major push around the Jeep Liberty as it unveils a $1.2 billion Toledo plant. The compact SUV aims to lure Cherokee owners and new buyers, with 200,000 annual units planned and pricing around 18 000 to 23 000 dollars. Competition includes Ford Escape Honda CR V and Toyota RAV4, while off road capability remains a focus despite most owners never venturing beyond potholes.
MENTIONED IN THIS ARTICLE
Detroit
Daimler- Chrysler AG
Toledo
Chrysler
Dieter Zetsche
Liberty
Tom Marinelli
Chrysler Jeep
Jeep
Rubicon Trail
California
James Holden
Also Mentioned on This Page
LTV Corp of
William H. Bricker
LTV
Thomas D Lambros
U. S
Pacific
Jeep Liberty
Zetsche
Chrysler Chief
Wolfgang Bernhard
Ace
Bane
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