WorldCom to pay $500 million in civil fraud settlement
WorldCom agreed to pay investors 500 million to settle civil fraud charges after disclosing an 11 billion misstatement. The SEC suit, tied to the Enron era scandals, seeks to restore investor confidence as WorldCom contends with bankruptcy and potential name change to MCI.
MENTIONED IN THIS ARTICLE
WorldCom
Communications Giant
Cooking
SEC
New York
WorldCom Inc
Securities and Exchange Commission
U S
Jed Rakoff
MCI
Barnkruprcy
Justice Department
David Myers
Scott Sullivan
Index Shows Slow Growth In Leading Economic Indicator
The Conference Board reports a marginal 0.1 point rise to 110.6 in its Leading Economic Indicators index, with gains from stock markets and consumer expectations offset by weak labor and manufacturing. Economists anticipate GDP growth near 1.5 percent annual rate in Q2, underscoring slow momentum as major indexes slide in afternoon trading.
MENTIONED IN THIS ARTICLE
New York
Conference Board
Ken Goldstein
Goldstein
Weirton Steel files for bankruptcy protection
Weirton Steel Corp. filed for Chapter 11 protection in Weirton West Virginia, listing about 1.41 billion dollars in debts against 654.5 million dollars in assets as of March 3. President John Walker said a 225 million dollar financing package will keep operations going during reorganization. The firm employs about 1100 Ohio workers across the river from Steubenville. Walker cited industry consolidation and nearby mergers as leaving no options for expansion and noted the six month window to propose a reorganization plan.
MENTIONED IN THIS ARTICLE
Weirton
W.va
Weirton Steel Corp
Ohio River
Steubenville
Ohio
Weirton Steel
John Walker
Walker
U.S. Steel-National Steel
International Steel Group
Bethlehem Steel
Wheeling Pittsburgh Steel
UCLA CUIVE STOCKS J Proes for NYSE Opening
UCLA CUIVE STOCKS report shows J Proes leading gains on the NYSE at opening as investors monitor early trading. Analysts note mixed signals from tech and energy sectors.
Homeowner scam warning from Elyria police chief
Elyria police chief Michael Medders warns homeowners about deadbeat contractors amid a rise in fraud reports. The piece recounts a case where Bill Pavlak of Counter Act took a $2,000 down payment from Sandi Miller for kitchen remodeling, then disappeared, resulting in a court order to pay $2,500 that Pavlak has not yet met. Miller suffered an incomplete kitchen and long delays. Pavlak defends his actions citing contract disputes and missed decisions.
MENTIONED IN THIS ARTICLE
Elyria
Michael Medders
Medders
Menders
Sandi Miller
Bill Pavlak
Counter Act
Pavlak
Miller
Small Claims Court
Red flags in contractor scams cited by Miller and Polanski
Miller warns ofDoor to door solicitation cash only payments required permits dubious business numbers and immediate decisions. Polanski notes Cleveland BBB tips online to avoid scams including exaggerated guarantees and upfront payments.
MENTIONED IN THIS ARTICLE
Focal
Miller
Carolyn Polanski
Bureau
Cleveland
Better Business Bureau of Cleveland
Bbb
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Boycomicleam
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Enron Com
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Nale
Enron
Myers
Sullivan
Bernard Ebbers
Gary Thayer
Ucla
S Rao Cetys Uo
Carty Quotston
Alia Investment
Walnut Steet Secrite
We. Werrber Hasd
SIPC
AISGG
WSS
Aden Telecom
Abrel 4227
Amatican Greetings
Bob Evars
Cadar Fax
CenturyTe
CVS Comp
GaimierChryster
Deebald Inc
Emerson Electric
Third Beneorpt
Fast Energy
FastMerd Bancorp
Ford Motor
Bfgoodrich
Honsyvendl, Ing
Ivecare Corp
Keycorp
Lear
Bancorp
Lisco
Mae Ae Bs
Poource
Nontson Corp
Northam Savings
Ofice Max
Parker Hanorfin
PolyOne
Proctor & Gambia
Fpine
Shenan Erserrs
Smuckers
Seis
RW Inc
Walmart
Wendy's
Adrian Burns the
Chronice-Telegram
Better Business
Ateve Man
Tom Dotson
Dent
Chhldren
Vision Counci of
America
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