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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
May 30, 2000
Page
11
U S manufacturing demand fell 6.4 percent in April to 205.6 billion amid electronics weakness while consumer spending rose just 0.4 percent. The Fed has raised rates six times since June to curb inflation, with a half point move last week.
Los Angeles Times notes higher interest rates and weaker stock prices curb deal making. Through April, 3,804 mergers valued at $736 billion have been announced this year, down from 4,459 deals a year earlier, with overall activity at its lowest since 1995. Leveraged buyouts rise while public tech deals suffer. UAL’s $4.3 billion bid for US Airways underscores volatility.
In Cincinnati area the assisted living sector shows oversupply with Marriott and others trimming new projects. Industry officials expect demand to catch up as homeowners remodel or seek in home care, while occupancy sits in the low ninety percent range for current units.
Ohio farmers convert cropland to courses as land values climb and crop prices drop. Glenn Gulick near Columbus sold few acres for a course while retaining farming. Designers say building costs reach about a million dollars with annual net income potential of 50 000 to 300 000, boosting farm viability. Golfer Gulick’s Majestic Springs and Echo Springs earn local recognition.
A list of early quotations for numerous corporations supplied through Walnut Street Securities with NASD SIPC affiliation. Companies include American Greetings Ames Dept Stores Bob Evans Cedar Fair Cleveland Indians Columbia Energy CVS DaimlerChrysler Emerson Vir Englehard First Energy FirstMerit Ford General Motors Geon BFGoodrich Honeywell Invacare Keycorp Lear LNB Bancorp LTV Tesco Limited Nordson Northern Savings Office Max PNC Parker Hannifin RPM Royal Appliance Sherwin Williams Sky Financial Smuckers Steris Sunrise Medical TRW USX York International and others with quoted prices.
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