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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 14, 2003
Page
2
Retail activity dropped 1.6 percent from January, led by a record slide in building and garden stores. Analysts warn of recession risks as consumer spending weakens, while Wall Street rallies on Iraq war hopes and unemployment claims show a stagnant job market.
The FCC votes 5 0 to study rules for the 1963 airwaves set aside for education with potential new roles in telemedicine and home study. Commissioners note concerns over excessive commercial leasing and urge preserving spectrum for education while expanding flexible services. The panel also studies interference reducing tech to improve spectrum efficiency.
Wall Street climbs to five month highs with the Dow up 269.68 points to 7,821.75 and Nasdaq rising 61.53 to 1,340.77 after hopes the Iraq conflict will be short and successful. Traders cite oil, economy, and safe haven doubts as factors.
Freddie Mac reports 30 year fixed rates at 5.61 percent for week ending March 14, a new low since 1971. 15 year fixed at 4.93 percent and 1 year ARM at 3.68 percent also fall, boosting refinancing and home sales amid economic concerns and Iraq tensions.
John J. Cassese, 56, surrendered to the FBI on insider trading charges after allegedly buying 15 000 shares of Data Processing Resources before a 1999 acquisition by Compuware. He allegedly profited as the deal was announced and has paid over 300 000 dollars to settle a related SEC complaint.
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