Word: stocking
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Dates: during 2000-2000
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...slowdown effect, of course, will make life easier for Chairman Greenspan. "If oil prices help slow the economy down to within the 3.5 percent speed limit on growth desired by Fed economists, Greenspan may not need to raise interest rates again after March," says Baumohl. "Already the stock market senses that the cumulative effect of previous rate hikes combined with the rising oil price are going to slow growth later this year." The big question, particularly for presidential candidates, will be how abrupt the slowdown will be. If the growth rate eases gently down from the current 6 percent...
...took its fourth worst points plunge on Tuesday and dragged the heretofore unflappable NASDAQ index with it. The bad news began in the morning when Dow stalwart Procter and Gamble announced third-quarter earnings that will be 10 to 11 percent below last year's figures. The conglomerate's stock plummeted by nearly a third on the news, and the rest of the Dow quickly followed. "Psychologically, it's bad for the industrial stocks when you see a powerhouse like Procter and Gamble slumping," says TIME business writer Dan Kadlec. "At the same time, it's reminding people that earnings...
...time trading was finished for the day, the Dow had plunged 3.7 percent, or nearly 400 points. The downward spiral was aided by the Street's current climate of uncertainty, courtesy of Alan Greenspan's repeated indications that he'll raise interest rates until the stock market bubble deflates. "Greenspan is targeting the NASDAQ, which is totally inflated with all those tech stocks," says Kadlec. "But unfortunately, the Dow is really being caught in the crossfire." But not even the NASDAQ went unscathed today. After surpassing 5,000 for the first time ever in Tuesday morning's trading, the tech...
...Kerkorian insider admits, "Wynn has a grade-A defense." Perhaps to get around that, MGM Grand called its offer friendly, at least for now. Still, Kerkorian takes no for an answer only in exchange for a hefty profit. In 1996 he scrapped a run at Chrysler after his stock in the carmaker reportedly doubled in value to nearly $3 billion. (Kerkorian currently owns about 5% of DaimlerChrysler...
Kerkorian is clearly counting on Mirage's disillusioned shareholders, who have watched their stock slide from a 52-week high of $26 a share last May, to pressure a reluctant Wynn into making a deal. Some owners are eager to do just that. Hours after Kerkorian launched his offer, five Mirage shareholders brought class actions in Las Vegas to demand that Wynn and his board seriously consider all bids...