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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 08, 2006
Page
23
U S stocks closed lower with the Dow Jones sinking 71.24 to 10 930.90 and the Nasdaq at 2 151.80 amid Bernanke inflation and growth concerns. The S&P 500 fell to 1 256.15 as traders weighed rates, debt, and energy prices.
Toyota and Lexus top 11 of 19 categories in JD Power quality survey revamp focusing on design flaws. Porsche tops brand ranking with 91 problems per 100 vehicles vs industry 124. EU clears Nippon Sheet Glass to buy Pilkington OLC for 3 billion. deal boosts global flat glass leadership.
AOL co founder Steve Case outlines a lean toward sustainable living products as Revolution LLC builds a meta brand in the $228 billion market. He cites partnerships with Gaiam and investors like Lee Iacocca and Carly Fiorina while Michael Crooke runs Revolution Living.
Massachusetts start-up BusRadio plans a private radio network on school buses with music, PSAs, contests, and ads targeting teens. By September 2007 it aims to reach a million students nationally, starting in Massachusetts and adding areas like Hagerstown Maryland.
Fed chief Ben Bernanke, speaking after a bankers conference, signaled tolerance for no pause in rate rises amid multi decade high energy and raw material prices. He called inflation trends unwelcome, noting CPI ex food and energy rose 3.2 percent over three months and 2.8 percent over six months ending April, emphasizing vigilance against inflation.
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