Bush targets corporate culture in broad push for reform
President Bush denounced alleged corporate fraud as he pledged Justice Department action against misbehaving executives. He cited WorldCom and Xerox misstatements, called for CEOs to personally certify financials, and proposed banning tainted directors while backing tighter SEC powers.
MENTIONED IN THIS ARTICLE
Washington
Bush
Justice Department
America
Themu
Senate
Securities and Exchange Commission
Ari Fleischer
Airlines Credit Ratings Slip Toward Junk Status
Standard & Poor's lowered the corporate debt ratings of the nations five largest airlines, pushing them toward junk status amid a disappointing revenue outlook and ongoing losses. Delta remained best of the group at BB, while American AMR Northwest moved to BB- and Continental to B. United fell to B.
MENTIONED IN THIS ARTICLE
Dallas
Standard & Poor’s
S&p
Philip Baggaley
U.S
Delta Air Lines Inc
American Airlines Inc
AMR Corp
Northwest Airlines Corp
Continental Airlines Inc
United Airlines Inc
UAL Corp
WorldCom begins mass layoffs after accounting scandal
WorldCom Inc. started terminating about 17,000 workers worldwide amid a massive accounting scandal. About 20 percent of its staff is cut, with large job losses in Ohio Virginia Texas Maryland and Colorado. The Washington DC area remains its largest employment base.
MENTIONED IN THIS ARTICLE
Clinton, Miss
WorldCom Inc
WorldCom
Ohio
Columbus
Hilliard
Virginia
Texas
Maryland
Colorado
Mississippi
Kimberly Spencer
Spencer
Washington, D.C
MCI Communications
John Sidgmore
MCI
Dallas/Fort Worth
Market ends quarter with mixed moves on Xerox woes
Wall Street closed a rough quarter with a mixed session as blue chips pulled back and tech posted a slight gain. The Dow fell 26.66 to 9243.26 while the Nasdaq rose 5.78 to 1464.98 and the S&P edged down. Analysts cited accounting scandals at Xerox and WorldCom, with traders hoping for relief from bargain-hunting dynamics and cautious earnings outlooks.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Bush
Xerox
America
Arthur Hogan
Jefferies & Co
Dow Jones
Dow
Standard & Poor
S&p
Ned Riley
State Street Global Advisors
Riley
Enron
WorldCom
SEC
General Motors
Electronic Data Systems
Commerce Department
Wal- Mart
Claire’s
Dollar mixed as currencies swing in European trading
The US dollar fluctuated against major currencies with the euro at 98.82 cents in late European trading and 90.55 in New York midday trading. Yen moved to 119.83, Swiss franc 1.4882, and Canadian dollar 1.5173. the British pound stood at $1.5227 in New York. Gold closed in London at $317.65 per ounce, down from $319.50.
MENTIONED IN THIS ARTICLE
London
New York
Europe
Also Mentioned on This Page
Connie Morella
Fnday
Tom Daschie
Hallibur
Dallas Morning News
Baggaley
Chase
Comfort
La-Z-Boy
Hemmingway
Chippendale Styling
Chelsea
mSatr
Monterey” California
Grand Canyon
Aed
The
Amherst
Cooper Foster
Grable Balional Brands
Ron Tracinski
Midway Blvd
Elyria
Wal-Mart & Pier
Uess.com
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