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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
May 23, 2000
Page
14
About 600 workers at Norwalk Furniture Corp approved a new contract after a week of strike action. They returned to work Sunday night, with the company not releasing contract details. The walkout followed a rejected proposal tied to a wage freeze for some employees over four years.
Tulsa based AP report notes producers in Oklahoma recruit released inmates at prison gates while Alaska crews train workers and Texas seeks former hands. With crude prices up, oil firms struggle to drill due to lack of experienced labor, says Dewey Bartlett Jr. of the Oklahoma Independent Petroleum Association.
AT&T Corp. invested 60 million dollars to acquire a minority equity stake in Tellme Networks Inc, a Mountain View based firm rolling out a voice activated telephone information system. The partners will develop business and consumer apps using Tellme Internet platform delivered over AT&T's New York network. Tellme said its system in early trial with nationwide coverage will let anyone in the U S call a toll free number and use voice commands to connect.
Wealthier Americans are dining out and buying prepared meals, fueling a restaurant boom. The National Restaurant Association projects $376 billion in sales this year, a 5 percent rise from 1999, with luxury items like caviar and Tuscany olive oil gaining prominence at the trade show.
The Association of Coffee Producing Countries approved a plan to cut exports by 20 percent to lift prices. Traders reacted with a 4 percent jump on Friday and another 6 percent gain Monday as July coffee futures rose to 1.033 a pound. Some doubt the plan will endure, noting nonmembers like Mexico and Vietnam and questions about enforcement and duration. Analyst Arthur Stevenson warns the plan may not be sustainable and outcomes depend on lasting discipline and market belief.
New York oil prices slid after Venezuela's Ali Rodriguez as OPEC president signaled a possible production increase at the June gathering. Jan crude traded on the NYMEX dropped 1.20 to 28.55 a barrel, a 4.36 percent fall, amid analyst expectations of higher supply.
The Treasury unveils redesigned five and ten dollar notes with larger off center portraits of Abraham Lincoln and Alexander Hamilton and new security features including embedded threads that glow under ultraviolet light. Officials expect issuance Wednesday but area banks have limited stock and caution counterfeiting remains a concern.
Microsoft filed an unexpected brief in federal court expanding on its argument against the Justice Department plan to break up the software giant for antitrust violations. The brief cites a 1995 case and notes the government’s earlier stance may be irrelevant to current claims. A Wednesday hearing in Washington will address how the sprawling case should proceed.
A fragmented stock market brief notes early trading activity with mixed results. Prices hover around key levels as investors weigh gains and losses across sectors, with little clarity on direction as of late morning.
Early quotation list supplied by Akin Investment Securities through Walnut Street Securities includes Alltel Ames Dept. Stores Bob Evans Cedar Fair Vie Cleveland Indians Columbia Energy Group CYS Corp DaimlerChrysler Emerson Electric Englehard First Energy FirstMerit Bancorp Ford Motor General Motors Geon BFGoodrich Guest Supply Honeywell Invacare Keycorp Lear LNB Bancorp LTV Lesco Limited Nordson Northern Savings Office Max PNC Parker Hannifin RPM Royal Appliance Sherwin Williams Sky Financial Smuckers Sterins Sunrise Medical TRW USK York International with bid values and fraction prices for a wide range of corporations and brands.
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