Economy shows signs of recovery in January and February
A Federal Reserve survey indicates broader improvements in U S business activity and a cautious rebound across regions. Factory orders rose 1.6 percent in January led by cars computers and machinery as stocks gained on Wall Street and Greenspan cautioned a moderate recovery ahead.
MENTIONED IN THIS ARTICLE
U.S
Federal Reserve
Alan Greenspan
Congress
Greenspan
Fed
Boston
New York
Philadelphia
Atlanta
Dallas
Dow posts triple digit gain as tech recovers on stronger data
Wall Street extended gains on encouraging economic reports with the Dow Jones industrials up 140.88 to 10,574.29. Nasdaq rose 24.11 to 1,890.40 and the S amp P 500 added 16.63 to 1,162.77 as orders to U.S. factories rose 1.6 percent in January signaling a broader recovery. Financials and manufacturers led, while tech shares gained late as investors warmed to the sector amid improving data and a Fed survey showing broader activity.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Clifford Waldman
Waldman Associates
Commerce Department
U.S
Wall Street
New York
Bryan Piskorowski
Prudential Securities
Dow
Standard & Poor
Senate Pushes Army Chief White Over Enron Ties
Senators urge Army Secretary Thomas White to sever all Enron ties and fully disclose holdings after he promised to divest. They cite about 50,000 Enron shares valued near $1 million and an Enron funded annuity. Committee officials say White failed to meet disclosure and ethics requirements and demand ongoing compliance.
MENTIONED IN THIS ARTICLE
Washington
Army
Enron
Thomas White
White
Enron Energy Services
Senate Armed Services Committee
Carl Levin
D-Mich
John Warner
R-Va
Department of Defense
Senate
Sonic Automotive Cash Bests Recession With Aggressive Expansion
Sonic Automotive and peers prosper amid downturn posting record profits from new vehicle incentives and strong used car demand. The Charlotte based Fortune 300 dealer group reports nearly 300 million cash on hand to fund acquisitions after buying Don Massey Cadillac stores and adding 1.4 million shares of stock. Analysts note their high cash flow, aggressive growth strategy, and a fragmented market ripe for consolidation led by groups like AutoNation and Group 1 Automotive while manufacturers cover much fixed overhead through incentives.
MENTIONED IN THIS ARTICLE
Charlotte
Sonic Automotive
Sonic
AutoNation
North Carolina
Ford
General Motors
Honda
Toyota
BMW
Scott Smith
Sonic Auto
U.S
Smith
Group 1 Automotive
United Auto Group
Lithia Motors
Rick Nelson
Stephens Inc
Nelson
Home Depot
Kings Mountain Mayor Highlights Growth and Infrastructure
Cleveland continued from Page 10 with Mayor Rick Murphrey lauding Kings Mountain as a top 100 city. He cited proximity to I 85 U S 74 Charlotte Douglas Airport and railways aiding industry, and stressed upgrading utilities and quality of life projects to attract businesses and improve living standards.
MENTIONED IN THIS ARTICLE
Kings Mountain
Rick Murphrey
I-85
U.S. 74
Charlotte-Douglas International Airport
Murphrey
Also Mentioned on This Page
Richmond
Kansas City
San Francisco
Cleveland
Chicago
Department of Commerce
J.P. Morgan
Merck
Charles G. Crane
Victory Sbsf Capital Management
T.O.M.A
Gaston County
Associated Press
Willie Martin
Town and Country
Scott Jordan
Gaston Gazette
Gastonia
Lincoln County
Cramerton
Cherryville
Belmont
Mount Holly Clover
Bessemer City
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