Stocks hit milestone as S P 500 tops record close
Wall Street paused on Monday as the S&P 500 briefly surpassed its March 2000 record close of 1,527.46, peaking near 1,529.87 before easing to 1,525.10. The rally was driven by gains in energy materials industrials and financials amid takeover buzz including GE selling its plastics unit for 11.6 billion and Blackstone planning a 6.48 billion buy.
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The
Gas prices dilute Memorial Day travel plans nationwide
Gas prices remain high but travelers press on with Memorial Day getaways and summer trips. About 38.3 million Americans will travel 50 miles or more, 2 percent more than last year, with cancellations possible if gas hits 3.50 a gallon. Hotels up 13 percent, airfares down slightly, car rentals down 16 percent.
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U.S
Suzanne Cook
Travel Industry Association
Sandra Hughes
Automobile Association of America
AAA
Chris McGinnis
Expedia Travel Trendwatch
Cook
TIA
Mental accounting and its impact on money decisions
A psychology discussion explains mental accounting how people split money into separate mental budgets. Examples show ticket losses vs cash losses alter willingness to spend. Experts compare mental accounts to financial accounting and urge evaluating each purchase's true worth rather than compartmentalized spending.
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Suzanne Fogel
DePaul University
Chicago
Richard Thaler
University of Chicago
Thaler
CenTel workers set strike vote in Lorain
CWA Local 4370 members will vote Wednesday at the CWA Hall on whether to strike after rejecting a three year CenturyTel contract 51 to 49 per cent. Major issues include overtime language and ending seniority in bidding for new jobs amid layoffs and relocation of jobs.
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Lorain
Communication Workers of America Local
CenturyTel
Harry Williamson
Williamson
CenturyTet
CWA
Eighth St
Jeanette Romero
Radio royalties eyed as new income for artists and labels
In Washington, facing sliding compact disc revenue, record companies and musicians explore royalties from broadcast radio stations. Though stations have long paid composers and publishers, they are exempt from broader payment rules.
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Washington
Federa
Radio royalties push to repeal exemption gains momentum
The Recording Industry Association of America and artists groups urge Congress to repeal the airplay exemption, arguing that air play sells music. The move could generate hundreds of millions of dollars annually in new royalties, according to wire reports.
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Recording Industry Association of America
Congress
Wire
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