Rates Likely to Stay Low Through Summer say Economists
Private economists on Monday forecast that American mortgage and loan rates may remain at multi decade lows at least until summer due to Wall Street volatility and fears of war with Iraq. They expect the Federal Reserve to hold the federal funds rate steady at 125 percent after a November cut.
MENTIONED IN THIS ARTICLE
Washington
Wall Street
Iraq
Federal Reserve
Fed
Federal Open
Ket
Central Bank
Greenspan
Bush
Traq
Congress
United States
Freddie Mac
Tyson Foods
Scripps
Credit Lyonnais Securities
REP to receive 2002 Deal Maker Award for saving jobs
Republic Engineered Products will be honored this week by the Northeast Ohio Association for Corporate Growth with a 2002 Deal Maker Award. The recognition credits REP for forming in August 2002 and preserving 2,400 jobs across Ohio, Indiana, and New York by navigating a complex bankruptcy with banks creditors bidders and employees. The ceremony at the Marriott at Key Center in Cleveland will feature five awards including company restructuring the category REP won for saving a distressed company and forming the new entity.
MENTIONED IN THIS ARTICLE
Republic Engineered Products
Republic ‘Ethnologies International
Northeast Ohio
Association For Corporate Growth
REP
Ohio
Indiana
New York
Joan McCarthy
McCarthy
John Willoughby
ISG
Wilbur Ross
LTV Steel
Marriott
High court frees up airwaves for NextWave licenses
The Supreme Court ruled the FCC lacked authority to seize NextWave Telecom licenses during bankruptcy, freeing billions of dollars in unused wireless licenses. The decision may boost service and options in major markets like Chicago, Los Angeles, New York, Philadelphia, San Francisco, Seattle, and Washington as spectrum reenters use. Verizon, AT&T, and Cingular could compete for the freed airwaves.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
NextWave Telecom Inc
NextWave
High
Federal Communications Commission
Chicago
Los Angeles
New York
Philadelphia
San Francisco
Seattle
NestWave
Donald B. Verrilli Jr
At&t Wireless
Cingular Wireless
Verizon Wireless
FCC
Michael Powell
Super Bowl Ads Spark Quirky Humor to Lift Spirits
New York AP reports that advertisers used humor to lift mood amid war talk and a weak economy. AT&T Wireless parodied Antiques Roadshow. Anheuser-Busch aired zebra refereeing a horse game. ads sold for 2.1 to 22 million dollars in 30 seconds. Major spenders included Anheuser-Busch General Motors Sony and PepsiCo. Michael Jordan appeared in two spots. Gatorade showed his today vs younger self. McDonald's lampooned a dad and quiz moment. H R Block featured Willie Nelson. HotJobs urged respectful job-search tone. Dodge depicted a choking jam of beef jerky on a windshield.
MENTIONED IN THIS ARTICLE
New York
At&t Wireless
Anheuser-Busch Inc
Tampa Bay Buccaneers
Anheuser-Busch
Tampa Bay
General Motors Corp
Sony Corp
PepsiCo
MasterCard
Washington
Lincoln
Jackson
Michael Jordan
Gatorade
Jordan
Chicago Bulls
Hanes
Jackie Chan
Pepsi
Ozzy Osbourne
Arnold Schwarzenegger
Warner Bros
McDonald's
McDonald’s
Willie Nelson
H&r Block
HotJobs.com
Yahoo! Mnc
Marc Karasu
HotJobs
Dodge
Home buying beats record in 2002 housing surge
Washington AP reports that the 2002 market for previously owned homes hit a record annual rate of 5.56 million, up from 5.30 million in 2001, aided by exceptionally low mortgage rates. Analysts credited low rates as the main driver behind the sales boom despite the sluggish economy.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
Lynn Reaser
Bank of America Capital Management
David Lereah
Freddie Mac
Dow Dips Below 8000 on War Fears and Weak Earnings
War fears and Iraq inspections worry investors as the Dow Jones average falls below 8,000 for the first time in three months, closing down 141.45 at 7,989.56 amid broader market declines. Nasdaq and S&P also slide as a cautious mood grows ahead of the State of the Union.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Dow Jones
Iraq
Bush
Dow
Standard & Poor
Stephen Massocca
Pacific Growth Equities
Traq
Dollar and currencies mix as markets react to war risk
The dollar was mixed against major currencies amid U S tensions with Iraq and weak investment havens. In Europe the euro closed at 1.0814 dollars, briefly peaking at 1.0907. Pound traded near 1.6324 dollars. In New York Morgan Stanley raised a stock to equal weight while declines outpaced advances 3 to 1 on the NYSE with light volume. The Russell 2000 fell 6.48 points to 368.58.
MENTIONED IN THIS ARTICLE
London
Iraq
U.S
New York
Europe
Morgan Stanley
Also Mentioned on This Page
Stuart Hoffman
PNC Financial Services Group
Pinsburgh
Alan Greenspan
California
Dianne Fein Stein
Feinstein
The
Wall Street Journal
Kristin Yarbrough
Kyarbrough
Chromeletelegram
Monster
Monster.Com
Kohl's
General Motors
Exxon Mobil
A.C. Moore
Dunvegan Associates
Santa Barbara
Calif
Fedix
Nour Business
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