Correspondence/The Cult of Popularity; Fear Has Its Own Language in Iraq
Date: 19 January 2003
By Neil MacFarquhar
Neil MacFarquhar
Interviews with Iraqis in Iraq risk capsizing beneath flood of Orwellian language that courses through all public discussions, rendering extremely elusive any true thoughts about Saddam Hussein; photos; reckless angry remarks about government are both furtive and extremely rare, and Iraqis interviewed in presence of minders take care to garnish remarks with praise for Hussein (M)
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Despite Major Achievements, Bloomberg Gets Scant Credit
Date: 18 January 2003
By Jennifer Steinhauer
Jennifer Steinhauer
News analysis discusses public opinion of New York City Mayor Michael R Bloomberg after first year on job; New York Times poll finds that 53 percent of New Yorkers are unhappy with Bloomberg's performance, pointing to property tax increase and budget cuts, despite record drops in crime, improvements in police department and strides towards creating affordable housing (M)
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A Vertical Neighborhood Takes Shape
Date: 19 January 2003
By David W. Dunlap
David Dunlap
AOL Time Warner Center on Columbus Circle, NYC, luxurious mixed-use development, will begin phased opening in Sept 2003; some residents are not pleased about project's transformation of neighborhood even though surroundings are expected to grow more upscale; $1.7 billion project was financed by public-private partnership that includes Related Companies and Apollo Real Estate Developers; AOL will begin constructing its headquarters and CNN studio space this summer and will begin phased move-in next year; while litigation has ceased, construction is still subject of many complaints from area residents; photos; drawings; (L)
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S.E.C. UPGRADES E.D.S. INQUIRY TO FORMAL INVESTIGATION
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Securities and Exchange Commission upgrades informal inquiry into Electronic Data Systems begun in Oct 2002 to formal investigation; probes company's purchase and settlement of stock-option contracts and events leading up to its Sept 18 forecast that third-quarter earnings would be a fifth of company's previous prediction (S)
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KMART WANTS REPAYMENT OF EXECUTIVE RETENTION LOANS
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Kmart Corp demands repayment of all executive retention loans made before its bankruptcy filing; fires five remaining bonus recipients still with company; finds that previous management did not properly disclose data to board when it set up loan program in 2001; Kmart lent over $30 million given to dozens of executives in year before bankruptcy filing (S)
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NATIONAL-OILWELL ACQUIRES HALLIBURTON PUMPING UNIT
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Drilling equipment maker National-Oilwell Inc acquires Halliburton Co's pumping-equipment business, known as Monoflo Inc in United States and Mono Group in Great Britain, for about $89.2 million in stock and cash (S)
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JUDGE ORDERS LIQUIDATION OF WADE COOK FINANCIAL
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Judge orders Chapter 7 bankruptcy liquidation of stock-trading educator Wade Cook Financial Corp, which owes employees back wages and pocketed their health insurance premiums (S)
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VERITAS SOFTWARE RESTATES LOSSES FOR 2000 AND 2001
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Veritas Software Corp restates its 2000 and 2001 losses to correct how it had accounted for swap of software and advertising with AOL Time Warner Inc; widens 2000 $620 million loss by $7 million and narrows 2001 $651 million loss by $8 million; action results from subpoena Veritas received for federal inquiry into AOL division's accountings (S)
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World Business Briefing | Europe: Britain: More Interest In Safeway
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Kohlberg Kravis Roberts weighs bid for British supermarket chain Safeway; Wal-Mart Stores and J Sainsbury may also try to acquire Safeway, which has already agreed to be purchased by William Morrison Supermarkets for about 2.7 billion British pounds ($4.3 billion) (S)
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Production Falls and Trade Deficit Rises
Date: 18 January 2003
By Bloomberg News
Bloomberg News
Commerce Department reports November trade deficit rose to record $40.1 billion after revised $35.2 billion shortfall in October; imports rose in November to $123.3 billion from October's $117.5 billion, largest monthly increase since July 1984; exports rose 1.1 percent, to $83.2 billion in November, from $82.3 billion in previous month; Federal Reserve reports that production at nation's factories, mines and utilities declined 0.2 percent in December; industrial production for all of 2002 fell 0.6 percent, after 3.5 percent decline in 2001; University of Michigan reports that its preliminary consumer confidence index dropped to 83.7 in January from 86.7, instead of rising to 87 as forecast and below even lowest estimate of any of 50 economists surveyed; university's index of consumers' expectations for next one to five years sank to 75.2 from 80.8 month earlier; university's preliminary current conditions index, which reflects consumer's willingness to buy expensive items, rose to 96.9 from 96 in December; graphs of balance of trade, industrial production and capacity utilization (M)
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