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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 30, 2003
Page
9
Analysts describe the summer consensus as volatile with two thirds of S and P 500 firms beating estimates yet little guidance on future quarters. Critics warn forecasts for the rest of the year remain uninspiring while managements soften expectations to reset targets.
Washington readers flood the Labor Department with more than 80 000 comments on a new overtime rule aimed at changing who qualifies for time and a half pay. Critics say the plan would shift exemptions to managers and professionals, potentially excluding millions from overtime.
The Amherst Visitors' Bureau construction site will form a formal safety partnership with OSHA, the first such government union contractor effort in the county. H Fior General Contractor Inc. president Gregg Fier calls it a pre emptive strike to enhance workplace safety and trust. Training for all workers is provided at no cost, with 30 hour OSHA for supervisors and 10 hour for non supervisors. The alliance aims to reduce injuries and insurance costs while boosting productivity. Contact Adrian Burns at 329 7197 or abums chronicletelegram.com.
Architect Mark Lester envisions a unique county headquarters on Route 58 near the Turnpike as a forward looking symbol for Lorain County. The $1.125 million project will double interior space and include a tourist reservation center, an enhanced Web site, and traveler amenities.
The Ohio Eighth District Court of Appeals upholds six judgments against member CCR companies including Dana Corporation Pfizer Union Carbide for a 120 million settlement to 15 000 asbestos victims. The case traces to a 1999 Cleveland approved agreement with payments due 1999 to 2004.
A sharp decline in the July consumer confidence index to 76.6 from 82.5 unsettled traders and pushed the Dow down about 62 points to 9,204.46. Analysts cited unemployment fears and a weak economy ahead, even as investors awaited GDP and jobs data this week for clearer guidance.
In London, the BS dollar rose against major currencies as European trading opened. Gold declined and the euro hovered around $1.1482, easing from the previous session. Analysts cited upcoming employment data as a potential market mover amid mixed economic signals.
The dollar held varied against major currencies with the euro at 1.1384 and the pound around 1.623, while yen and Swiss francs rose modestly. New York markets saw New Tyco International drop 75 cents to 19 amid a profit swing and restated results, with gold and silver futures easing in London and Hong Kong. DuPont rose 42 cents on strong Q2 earnings, and a telecom firm climbed 58 cents on a beat.
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