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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 15, 1998
Page
3
The Dow Jones industrial average edges toward 9,000 and near 9,600 as investors weigh a continued rally despite unsettled global events. Analysts like Bob Dickey cite resilience amid Asia, Iraq, and other risks, while others reassess 1998 targets in light of steady domestic demand and inflation.
The article reports a wave of stock splits across major firms as the market climbs. It notes 2385 NYSE splits in 1997, records likely to be surpassed in 1998, and explains how splits lower share price while maintaining value. Analysts call it a zero sum shift benefiting smaller investors despite unchanged proportional ownership.
Elyria story notes Radio Link, a tiny outfit with eight employees and sales near 1 million last year, now at 225000 this year. Owner John Paul Jones plans to keep the firm lean, wary of growth that might require layoffs, while servicing Great Lakes shipping and land-based firms with essential two way communications.
In a strong bull market bear mutual funds struggle with negative returns and shrinking assets. The Robertson Stephens Contrarian Fund and Lindner Bulwark Fund show poor three year and lifetime results while Rydex Ursa Fund mirrors high risk and steep losses. Analysts caution buyers against market timing and suggest diversification across stock, bond, and money market funds or Treasury instruments.
In Cleveland AP report the Brotherhood of Locomotive Engineers and the United Transportation Union prepare for a possible showdown over a single craft of tram and engine service employees on Union Pacific trains. UTU seeks a nationwide vote and representation rights while BLE defends its 15 year craft and fears a raid. Both sides file with the National Mediation Board as pressure and rhetoric rise.
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