Pension funds trim IBM profits and other firms face strain
In 2000 and 2001 IBM and many blue chip companies booked pension gains as income under an accounting rule. With pension funds shrinking, IBM may cut expected returns reducing next year’s profit by about 700 million. About 18 million dollars in pension gains were reported during peak markets, shaping investor scrutiny and future cash needs. Automakers Ford and GM, Boeing, DuPont, and AMR also stand among affected firms.
MENTIONED IN THIS ARTICLE
Washington
International Business Machines Corp
Ing
IBM
U.S
Ford Motor Co
General Motors Corp
Boeing Co
DuPont Co
AMR Corp
American Airlines
Apple's to Open Lorain Grocery Store In 52,000-Square-Foot Space
Cascade Management Services will open an Apple’s grocery in Lorain Plaza on Meister Road, the chain’s largest in the county. The former Giant Eagle space was leased after NE Ohio Alliance for Hope and city leaders pressured for renewal. The store will feature full-service grocer layout with lower prices and neighborhood focus, plus free coffee and a Sunday paper with $10+ purchases.
MENTIONED IN THIS ARTICLE
Lorain
Apple’s
Giant Eagle
Lorain Plaza
Meister Road
Cascade Management Services
Northeast Ohio Alliance For Hope
Steve Krakemperger
Cascade’s
Krakomperger
Cascade
Steve Pittenger
Apple
Pittenger
Darlene Hawk
Fed notes sluggish economy and potential rate cuts
The Federal Reserve reports a sluggish U.S. economy over September and early October with weak retail sales manufacturing losses and a soft job market. The Beige Book signals room for further rate cuts at the November meeting amid war and oil-price uncertainties.
MENTIONED IN THIS ARTICLE
Washington
United States
Federal Reserve
Fed
Iraq
U.S
Find the familiar phrase in this letter arrangement
A word puzzle asks to locate a well known saying or name hidden within an irregular letter arrangement. The challenge is to spot the familiar phrase as a common idiom or proper name embedded by shifting or grouping letters.
Wall Street Gains Amid Mixed Fed View on Lilly Earnings
Stocks closed higher as the Dow rose 0.5 percent to 3494.27 and the Nasdaq jumped 2.1 percent after Eli Lilly posted a 20 percent earnings gain but trimmed its fourth quarter outlook. Investors weighed Federal Reserve regional data suggesting a sluggish economy and potential rate cuts while noting the market’s healthy consolidation after a recent rally.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Eli Lilly
Todd Clark
Wells Fargo Securities
Standard & Poor
Fed
Alan Greenspan
Dollar and gold slide against major currencies in Europe
In European trading on Wednesday the dollar fell against most major currencies with gold and silver easing. The euro traded around 97.57 cents in late London and 97.62 cents in New York. the pound rose to about $1.548. Yen, Swiss francs, and Canadian dollars also declined versus the dollar, while gold closed at 312.40 in London and 313.25 in Hong Kong, with silver at 4.39 in London.
MENTIONED IN THIS ARTICLE
London
New York
Europe
Zurich
Hong Kong
Market climbs on earnings hope amid geopolitical jitters
Analysts note investors remain hopeful after a two week rally spurred by stronger than expected earnings from General Motors and IBM. Since Oct 9 the Dow has risen about 1200 points as traders anticipate steady earnings and waning recession fears, though vigilance remains for further earnings risk and possible Iraq conflict. Citigroup slips as New York AG probes Sanford Weill’s research activities. Express Scripts falls after Aetna ends its mail order contract.
MENTIONED IN THIS ARTICLE
General Motors
IBM
Joseph V. Batti- Paglia
Ryan Beck & Co
Iraq
Clark
Citigroup
New York Attorney General's Office
Sanford Weill
Express Scripts
Aetna
Also Mentioned on This Page
Milliman USA
Robert T. Matsui
Dcalif
Credit Suisse First Boston Corp
David A. Zion
CSFB
Krakemperger
Stocker Wilkins Santiago
Dan Harkins
Dharkins
Chuck Humel
Chronicle
Oberlin Road
Naya
the Chronicle
Lorain County
Internet
LorainCounty.com
Lorain County.com
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