Investor's Business Daily articles from January 2003

Investor's Business Daily archives from January 2003

Will 2002 Market Bottom Stick?(A)(INVESTOR'S CORNER)
January 2, 2003... Byline: JONAH KERI Too many investors spent most of 2000 and 2001 hitting themselves on the head with a hammer of crippling losses. If nothing else, 2002 may go down as the year one of history's worst bear markets ended. Just stopping...

Big Year On All Fronts: War, Economy, Politics Worst Bear In 71 Yrs Top 10 stories of 2002 highlighted challenges nation faced after 9-11.(A)
January 2, 2003... Byline: TERRY JONES War with Iraq and an ailing economy were uppermost on Americans' minds at the start of 2002. As 2003 dawns, little has changed. Still, Iraq and the economy weren't Americans' only concerns in 2002. Hardly a month...

Can Consumer Carry Load Again In 2003? Key Variable Is Jobs If unemployment holds or falls, folks will spend and confidence will rise.(A)
January 2, 2003... Byline: CHRISTINA WISE For more than two years in this rough economy -- as business spending dried up, manufacturing tanked and unemployment rolls swelled -- the American consumer has continued to spend, acting like Atlas holding up the...

BUSINESS BRIEFS.(A)
January 2, 2003... TRANSPORTATION United machinists object to cuts The bankrupt carrier's machinists union said United Airlines didn't provide enough financial data to back up its claim a 13% pay cut is needed for survival. The UAL unit's pilots and...

BUSINESS BRIEFS.(A)
January 2, 2003... MEDIA Cable rates rise, subscribers fall Rates rose 6.3% vs. the 1.1% gain in the consumer price index for the year ended in June, the FCC said. Cable rates rose 4.2% in '01. Subscribers grew in the 12 months to June, but the industry...

BUSINESS BRIEFS.(A)
January 2, 2003... FINANCE Citibank to take stake in Pudong The Citigroup unit will reportedly pay $112 mil for an 8.3% stake in Shanghai Pudong Development Bank. The deal pushes Citigroup into a sheltered market with 1.3 bil people, $1 tril in personal...

THE ECONOMY.(A)
January 2, 2003... Chain-store sales higher in week Same-store sales at department and discount chains last week rose 2.1% from the prior week, Bank of Tokyo-Mitsubishi and UBS Warburg said. Sales rose 2.9% from a year ago, up from the prior week's 1.7%...

NATION.(A)
January 2, 2003... States sue EPA over its air rules The Environmental Protection Agency issued major changes to clean air rules, easing restrictions for utilities, refineries and manufacturers. It prompted a quick court challenge from a group of New England...

WORLD.(A)
January 2, 2003... Sharon fires scandal-linked aide Israeli Prime Minister Ariel Sharon fired Naomi Blumenthal, deputy minister of infrastructure, for refusing to answer police questions about fraud in the selection of Likud parliamentary candidates. It was...

COMMUNICATE EFFECTIVELY Networking In New Year.(A)(IBD 10 SECRETS TO SUCCESS)
January 2, 2003... Byline: Cord Cooper 9Does the start of 2003 find you out of work or stuck in a dead-end job? It's time to learn -- or relearn -- the art of networking. "Networking isn't about randomly gathering names and numbers," said strategy coach...

Vision Navigated Stormy '02.(A)
January 2, 2003... Byline: IBD STAFF Business faced tough challenges in 2002; a bear market in its third year running, the fallout from 9-11, the threat of impending war and a worldwide recession. But some chief executives steered their companies through...

Server Makers Will Have Plenty On Their Plates In 2003 Customers Overspent How HP-Compaq unite will have a big bearing on rivals Dell, IBM, Sun.(A)
January 2, 2003... Byline: MURRAY COLEMAN Signs of life are showing up in the server market. But will they last? And what kind of a force will the merged Hewlett-Packard Co. and Compaq Computer prove to be? Those are the big questions heading into...

Hewlett-Packard Led Tech's News Makers A Downtrodden Year Tech spending slipped, investments shriveled, stock prices plummeted.(A)
January 2, 2003... Byline: IBD STAFF A big merger, big court case, big bankruptcy and the big blahs led tech in 2002. With the blahs -- as in faltering stocks, lower tech spending, less venture capital -- permeating most everything, 2002 won't go down...

PC Industry Notches Another Weak Year Few Buyers Upgrading Customers aren't in rush to replace current PCs; 2002 sales grow just 2%.(A)
January 2, 2003... Byline: PATRICK SEITZ It's deja vu for the personal computer industry. Just like at this time a year ago, analysts are saying PC sales should pick up in the third quarter. Analysts say the sluggish economy is prompting companies to...

Wireless Firms Pitch Data Services But Results Are Mixed Big U.S. wireless carriers upgrade their networks, but buyers slow to react.(A)
January 2, 2003... Byline: MIKE ANGELL The wireless industry needs more people like Sean Rigo. The executive recruiter from Sebring, Fla., just bought a $150 cell phone with a camera attachment, and his monthly bill is more than $100. It's more than just...

It Was Year Of Musical Chairs For Tech Consulting Firms The Big Fish Got Bigger PricewaterhouseCoopers folded into IBM as firms broke off from auditors.(A)
January 2, 2003... Byline: J. BONASIA Providers of information technology services may need to catch their breath after 2002. It was a year of wrenching change that transformed the industry. In the year's biggest news, IBM Global Services swallowed...

Cautious Optimism Greets Year Ahead.(A)
January 2, 2003... Byline: MARILYN ALVA Who will blink first? That's the question hanging over the initial public offering market at the start of 2003. Will sellers continue to hold out until valuations are higher? Will buyers let go of their fear...

Restaurateur Closes Deal.(A)
January 2, 2003... Byline: FROM IBD NEWS SERVICES Restaurant operator Triarc Cos. (New America, July 20, 2001) last week said it completed its purchase of Sybra Inc., the second largest operator of Triarc's Arby's franchises. Sybra owns and operates 239...

Is There Anybody In There? A Lonely Year For IPOs New issues totaled 97, the smallest number to come public in 23 years.(A)
January 2, 2003... Byline: VANCE CARIAGA If an IPO fell in the woods and no one was around to hear it, would it still make a sound? That question, or some variation thereof, likely echoed in the heads of more than a few execs last year as they watched...

Gains Were Rare For Stock Fund Shareholders In 2002 Glittering Gold Up 62% Real estate, bear funds and bonds also climbed, but S&P 500 fell again.(A)(INVESTMENT TRENDS)
January 2, 2003... Byline: DAN MOREAU There was one conclusion to mutual fund investing in 2002: more red ink for most investors. "It was a bad mixture of scandal, war fear, the economy and corporate profits," said Jack Cunningham, manager of $883...

A Leader Defined.(A)(EDITORIALS)
January 2, 2003... Leadership: Our nation faces many troubling challenges this year. A likely war with Iraq. A war on terror. A teetering economy. Thankfully, we have one big thing working in our favor: a real leader in the White House. President Bush has...

Law And Disorder.(A)(EDITORIALS)
January 2, 2003... Tort Reform: Our tort system is like the Hydra of Greek lore, whose heads grew back when chopped off. Close down one tort abuse and another springs up. Things were looking up. Oil giant Halliburton's settlement of its asbestos claims was...

Look For War And Economy To Lead The News In 2003.(A)(NATIONAL ISSUE)
January 2, 2003... Byline: IBD'S WASHINGTON BUREAU War will likely dominate 2003 in both the headlines and the history books. The U.S. will face a host of other challenges -- reviving the economy, calming the markets, restoring trust in the corporate...

Dismal Year Closes With Modest Gains.(B)
January 2, 2003... Byline: CRAIG SHAW NYSE stocks inched higher on the last trading day of 2002. The Dow rose 0.1%, the S&P 500 less than a point. Volume was well below average, with many trading desks sparsely populated before New Year's Eve. For the...

Major Averages Close 3rd Straight Year Of Declines.(B)
January 2, 2003... Byline: DAVID SAITO-CHUNG The major indexes closed mixed Tuesday, but joined in unison to mark a rare third straight year of declines. After disappointing holiday sales depressed the market last week, another poor economic report set...

Thermal Imaging Firm Heats Up Profits Fast.(B)
January 2, 2003... Byline: David Saito-Chung Flir Systems has been forming a base since peaking at 59.50 in March. The firm's thermal-based imaging cameras are used in various industries, including surveillance, building maintenance and industrial...

Bermuda Reinsurer Consolidates Gains.(B)
January 2, 2003... Byline: Craig Shaw RenaissanceRe Holdings is forming a 10-week consolidation on top of a longer base. It's traded near its 50-day moving average the past seven weeks as volume dried up from its October breakout. The Bermuda-based...

Nasdaq Edges Down, Ends The Year Off 31.5%.(B)
January 2, 2003... Byline: JONAH KERI The Nasdaq ended 2002 much the same way it traded over the last few weeks: not as badly as in most of the prior two years, but still down. The composite index shed 0.3% for the day, 31.5% for the year. The Nasdaq 100...

Sound Rules Shield Your Capital.(A)(INVESTOR'S CORNER)
January 3, 2003... Byline: JONAH KERI Tracking the market's direction means following the changes of the major indexes in both price and volume. Research shows that multiple days of distribution, or declines on heavier volume, can torpedo a burgeoning rally....

Factory Index Rockets To Best Gain Since '91 As Purchasers Hit Gas ISM Gauge Turns Positive All components improve, but orders are brightest, with best rise in 22 years.(A)
January 3, 2003... Byline: CHRISTINA WISE An upbeat report from manufacturers helped start the new year off on a positive note. The Institute of Supply Management's manufacturing index surged to 54.7 in December, its best reading since June and its...

Business Outlays Likely To Give Only Modest Boost To Recovery Tech spending is rising, but excess capacity will put cap on capital plans.(A)
January 3, 2003... Byline: JED GRAHAM After another year of cutting costs, paying down debt and creating few jobs, U.S. businesses may finally be in better shape to boost spending in 2003. But that doesn't mean they'll boost it much. The threat of...

AFTER THE CLOSE.(A)(AFTER THE CLOSE)
January 3, 2003... HOME DEPOT sees EPS of 27-29 cents in Q4 vs. analyst views for 31. Same-store sales fell as much as 10%. The home improvement retailer sank after hours. Home Depot also expanded a green-friendly lumber policy. FOREST LABS sees Q3 EPS...

BUSINESS BRIEFS.(A)
January 3, 2003... TRANSPORTATION Survey: auto execs less confident Some 30% of the 100 polled by KPMG expect lean times until '05 or later. In last year's poll, 60% saw better profits in '03 or '04. Slightly more than half see U.S. automakers losing...

BUSINESS BRIEFS.(A)
January 3, 2003... RETAIL P.F. Chang's ups its Q4 outlook The Chinese restaurant expects to report profit rose 32% to 25 cents a share, a cent over views, due to higher sales. Sales rose 30% to $115.9 mil. Same-store sales at its high-end bistros rose...

BUSINESS BRIEFS.(A)
January 3, 2003... MARKETS Commercial paper at 3-year low The amount of unsecured short-term debt, or commercial paper, sold by U.S. firms fell 8% to $1.322 tril at the end of '02 from last year, the Federal Reserve said. It's the lowest month-end total...

THE ECONOMY.(A)
January 3, 2003... Mortgage rates hit fresh lows The benchmark 30-year fell another 8 basis points to 5.85% this week, breaking the prior week's record, Freddie Mac said. The 15-year also fell 8 points to a new low of 5.24%. The 1-year adjustable rose 5...

NATION.(A)
January 3, 2003... More border crossers identified FBI agents expanded their dragnet for a list of foreign-born men who may have entered the U.S. illegally from Canada in a case that's heightened terrorism fears. Officials said several more men may have used...

WORLD.(A)
January 3, 2003... Yemeni killers had other schemes Two Islamic militants accused in the slaying of three U.S. missionaries also planned attacks on journalists, other foreigners and prominent Yemeni politicians, security officials said. The gunmen confessed...

TAKE RESPONSIBILITY Dependability In A Box.(A)(IBD 10 SECRETS TO SUCCESS)
January 3, 2003... Byline: Doug Tsuruoka 10In the late 1960s, pizza was a popular, but not always reliable, food to order from home or work. Many stores delivered pizza free. But it often arrived cold and stuck to the box. Tom Monaghan, the founder...

Fulton Went Full Steam Ahead Focus On Goals: Inventor's doggedness, steamboats revolutionized transportation.(A)
January 3, 2003... Byline: SEAN HIGGINS Robert Fulton was about to change history. At 1 p.m. on Aug. 17, 1807, Fulton gave a signal to fire up the North River's engine. The steam-powered boat slowly moved into the Hudson River. Its maiden voyage from New...

More Firms Finding It's Smart To Manage Intellectual Property Analysts estimate the value of worldwide IP market at $100 billion.(A)
January 3, 2003... Byline: AMY REEVES Companies are taking their patents a little more seriously these days. Managing and capitalizing on intellectual property has become more important to business than ever. Analysts estimate the worldwide IP market to...

AOL's '03 Resolution: Get On Growth Path Online Service Lagging Ad revenue is falling off, and subscriber growth isn't what it used to be.(A)
January 3, 2003... Byline: DOUG TSURUOKA 2002 began sourly for AOL Time Warner Inc. Last January, the media giant's share price was in the dumps and growth at its online unit was stalling. From there, it only went downhill. Online ad revenue plunged,...

Chipmakers Struggle To See Future Rebound Seems Elusive Industry group expects slight 2002 sales gain, then a 20% rise this year.(A)
January 3, 2003... Byline: JAMES DETAR As the semiconductor industry closes the books on 2002, it expects to report a small sales gain. That's nothing to cheer about perhaps, but it beats 2001, when the industry had its worst downturn ever. Chip...

Tech Sector Won't Return To '90s Glory Industry Settling Down Technology should look more like mature fields such as drugs, retailing.(A)
January 3, 2003... Byline: BRIAN DEAGON The tech sector spent all of 2002 trying, and mostly failing, to recover from the knockout punch delivered in 2001. This year could determine whether the industry's go-go growth days are gone-gone. Many observers...

Security Firms Ready For Boom Will 2003 Be A Banner Year? Threat of viruses, hacking is getting more attention; government spending rises.(A)
January 3, 2003... Byline: DONNA HOWELL Computer security ranks among technology's most optimistic sectors as we start 2003. Security stocks closed 2002 largely on the upside after a year of living a little dangerously. Early on, squashed budgets...

MEDIA TRENDS Analysts See A Rise In Ad Spending As Firms Look To Spread The Word.(A)
January 3, 2003... Byline: MARILYN MUCH Think you're watching a lot of TV commercials now? Well, get used to them, because more are on the way. After dropping to a whisper in 2001, the voice of Madison Avenue is about to go up a few octaves. ...

Gold Funds Soared, But Real Estate Only Other Sector Up.(A)
January 3, 2003... Byline: PAUL KATZEFF Tech was tops during the market run-up of the late 1990s. But in 2002, gold was king. Funds focused on the metal soared an average of 62.22% for the year through Dec. 26, says Lipper Inc. They gained almost...

December Declines Chill Q4 Rally And A Down '02 Stock funds rose 6.94% in Q3, and Oberweis sees "choppy' ride up in 2003.(A)
January 3, 2003... Byline: KEN HOOVER After two months of sizzle, the stock market fizzled in December. That put an end to another disappointing year for stock fund investors. In fact, that was the first time shareholders got socked by three straight...

Van Kampen's Gilligan Tops Peers For 12th Year.(A)
January 3, 2003... Byline: DAN MOREAU James Gilligan broke a record in 2002. He beat his U.S. hybrid-fund peers for the 12th year in a row. Gilligan did it at the helm of $5.75 billion Van Kampen Equity and Income Fund. The fund is a blend of stocks and...

Foreign Funds Up In Q4, Off In '02 War worries spook Korean funds, but outlook upbeat for Germany, So. America.(A)
January 3, 2003... Byline: DAN MOREAU Call international investing a roller coaster. Foreign funds went down in 2002 until early in the final quarter. Then performance in most foreign categories rose, only to be followed by drops again in December. ...

Leading Funds Like Gold, Real Estate Goldcorp, REIT Chelsea Property are top buys, but Webster Financial is sold.(A)
January 3, 2003... Byline: JULIE HUYNH The nation's top-performing funds are still reluctant to make big purchases. But they've made small buys in gold issues, such as Goldcorp, Harmony Gold and TVX Gold, in the latest reporting periods. REIT firm Chelsea...

Rule Changes For '03 Bring Bigger Tax Credits And A New IRA.(A)
January 3, 2003... Byline: PAUL KATZEFF Good things come to those who wait. Most rule changes created by the big tax reform bills of 2001 and 1997 took effect during 2002 or earlier. But some became available Jan. 1. For one, the credit for child...

Think Locally.(A)(EDITORIALS)
January 3, 2003... Korea: Tensions on the peninsula continue to escalate. Of the several options open to the U.S., the best, for now, is continued, and intense, diplomacy. The worst options are appeasement and bribery. Appeasing hostile and aggressive...

Politics Of Hunger.(A)(EDITORIALS)
January 3, 2003... Africa: 2003 has barely begun, yet we're already hearing about its first disaster: famine on the Dark Continent. Sadly, it's true. Sadder still, it's politicians' fault. The World Food Program, an arm of the United Nations, says drought,...

Welfare Reform, Part Two -- Victim Of A Weak Economy?(A)(NATIONAL ISSUE)
January 3, 2003... Byline: SEAN HIGGINS Temporary Assistance for Needy Families -- better known as welfare reform -- is going through what some would call "a bad patch." Since the U.S. economy began to slow, the progress in reforming welfare has stalled...

NYSE Indexes Start New Year With Bang.(B)
January 3, 2003... Byline: CRAIG SHAW A jump in factory activity helped NYSE stocks start the new year strong Thursday. The Dow surged 3.2% on the first trading day of 2003, the S&P 500 3.3%. Volume vaulted above Tuesday's levels, but remained below its...

Stocks Start 2003 On Right Foot As Volume Picks Up.(B)
January 3, 2003... Byline: DAVID SAITO-CHUNG A surprising boost in activity across the nation's factories sparked the sputtering market back to life Thursday, the first trading day of 2003. The Institute for Supply Management said its showcase...

Title Insurance Firm's Fundamentals Shine.(B)
January 3, 2003... Byline: Craig Shaw Fidelity National Financial has trended sideways for six weeks after clearing a five-month base. A long-term weekly chart suggests its latest pattern is part of a longer base stretching back to late 2000. The title...

Manufacturing Report Augments Techs, Market.(B)
January 3, 2003... Byline: JONAH KERI A bullish manufacturing report fueled a big move by stocks Thursday, with techs enjoying the fun. The Nasdaq composite surged 3.7%, the Nasdaq 100 4.4%. Volume closed at its highest level in two weeks, though still below...

Medical Software Firm Returns To The Black.(B)
January 3, 2003... Byline: David Saito-Chung Impac Medical Systems went public Nov. 20 at $15 a share and closed at 17.72. This runs counter to comments reported earlier that day by IPOfinancial.com's David Menlow, who said, "We expect a flat to slightly...

RS Line Divergence Can Offer Timely Sell Signal.(A)(INVESTOR'S CORNER)
January 6, 2003... Byline: CRAIG SHAW When a stock breaks out, you want everything moving in the right direction. The stock's price and volume should surge. The stock's Relative Strength line should also head into high ground. If it isn't, you've spotted...

Home Depot Tumbles To 5-Yr Low As Sales Shrink For Old Leader Same-Store Sales Off 10% Weak holidays get blame; analysts also see trouble with inventory, sales help.(A)
January 6, 2003... Byline: MARILYN MUCH Shares of Home Depot dived to nearly a five-year low Friday after the nation's No. 1 home-improvement chain warned it could see its worst same-store sales ever. The Atlanta-based chain also warned late Thursday...

AFTER THE CLOSE.(A)(AFTER THE CLOSE)
January 6, 2003... UNITED AIR will furlough nearly 1,500 workers by Jan. 19. The bankrupt carrier will shut its remaining 32 U.S. ticket offices. PRE-PAID LEGAL SERVICES said new sales associates enrolled in Q4 fell 24% to 29,555. New memberships fell 6% to...

BUSINESS BRIEFS.(A)
January 6, 2003... TECHNOLOGY ScanSource retracts Q2 warning The retail tech distributor will meet earlier sales views after all, with a little more than $245 mil. Strong sales in late Dec. offset a weak start. It warned two weeks ago that sales would...

BUSINESS BRIEFS.(A)
January 6, 2003... MEDIA Disney revamps TV animation unit It's folding the group into the Disney Channel cable network to cut costs and bolster its TV offerings. In a corporate reshuffle, Barry Blumberg, VP of TV animation, will head the unit. He...

BUSINESS BRIEFS.(A)
January 6, 2003... RETAIL RadioShack warns on Q4 profit The consumer electronics retailer expects to earn 58-60 cents a share, below analysts' forecast of 65 cents and last year's 67 cents. RadioShack cited weak sales of several products, including...

THE ECONOMY.(A)
January 6, 2003... ECRI: U.S. recovery is still fragile The Economic Cycle Research Institute's leading index fell to 117.6 in the Dec. 27 week from 118.8 the prior week. ECRI blamed higher jobless claims and weak stocks. The index's growth rate, which...

NATION.(A)
January 6, 2003... Lott to chair powerful committee Pushed from his position as Senate GOP leader, Trent Lott will take over the Rules Committee this week. He will hold seats on the Finance, Commerce and Intelligence panels. He said he feels "no vengeance in...

WORLD.(A)
January 6, 2003... Venezuela troops break up fights They fired tear gas and shotgun pellets to keep apart feuding foes and supporters of leftist President Hugo Chavez as they clashed on the streets. The month-old impasse continued as a general strike aimed at...

Attitude Improvement.(A)(IBD 10 SECRETS TO SUCCESS)
January 6, 2003... Byline: Cord Cooper 1Want to be a more effective leader this year? Start by considering these tips. ** Use interteam competition to boost morale and results. It worked for Eddie Rickenbacker, commander of the 94th Aero Squadron in...

The Secret To Reston's Scoops Power Of Words: Prize-winning journalist made most of every opportunity.(A)
January 6, 2003... Byline: CURT SCHLEIER Size didn't matter to James "Scotty" Reston. The legendary New York Times columnist and Washington bureau chief went after stories large and small with equal vigor -- and demanded the same of his staff. As John...

Ex-Hacker Mitnick Itching To Hit The Internet Probation Ending Soon Mitnick is helping firms stop "social engineering,' a tactic hackers employ.(A)
January 6, 2003... Byline: DONNA HOWELL Kevin Mitnick is quick to refer to himself as a retired hacker. Emphasis on "retired." But soon the infamous 39-year-old could adopt a different moniker -- "online newbie." Mitnick's probation for a raft of...

Microsoft Faces Challenging Year In 2003 It Needs New Ways To Grow Software giant aims to tap new Web services market while boosting its older fare.(A)
January 6, 2003... Byline: PATRICK SEITZ The federal government's antitrust lawsuit is largely history, so Microsoft Corp. is free of one major distraction in 2003. But the software giant has no shortage of other challenges this year. Most of those...

Chip Gear Makers Still Suffering, But U.S. Firms Keeping Their Edge Top 10 List Dominated By U.S. Applied Materials is No. 1, with KLA-Tencor, Novellus and others ranking high up.(A)
January 6, 2003... Byline: JAMES DETAR It's been a stormy couple of years for the semiconductor industry. That includes the companies that make chip equipment. There is, however, a silver lining. A VLSI Research Inc. report released last month shows that...

IBM, Sharp Bringing Linux To Handhelds Palm, Microsoft Reign Consumers not expected to want Linux, but firms could be potential target.(A)
January 6, 2003... Byline: MURRAY COLEMAN Two global tech giants have teamed up to give the Linux operating system a big push in the handheld device market. Sharp Electronics Corp., the North American marketing arm of Japanese electronics maker Sharp...

Cable Bubble Differs From Telecom Bubble Issue Of Market Needs.(A)
January 6, 2003... Byline: REINHARDT KRAUSE It's no secret that AOL Time Warner Inc. has its share of woes. But it's not Time Warner Cable that's causing the corporate migraines. Boosted by new services, the nation's second biggest cable TV...

ROSS STORES INC. Newark, California Retailer Is Not Afraid To Change With Times Competition Heats Up So this firm responds by tweaking merchandising, goods and distribution.(A)
January 6, 2003... Byline: MARILYN MUCH Ross Stores Inc. has always catered to bargain hunters. Now, with competition heating up in the off-price retail sector, the company has worked even harder to lure them. Traditionally, Ross has received cut...

ARCH CAPITAL GROUP LTD. Greenwich, Connecticut Insurer In The Right Place At The Right Time.(A)
January 6, 2003... Byline: MARILYN ALVA After the 9-11 terrorist attack hobbled the insurance industry, a number of new insurers stepped into the fray to write new business. With no history of setbacks and premium rates at their highest level in years,...

Small Caps Led Stock Funds In Week Holidays Hurt Retailers Gold funds, small-cap growth gained, Korean funds lost on war fears.(A)
January 6, 2003... Byline: DAN MOREAU Reflecting a rebound in the stock market, S&P 500 index funds topped performance in the week of Dec. 26 through Jan. 2, Lipper Inc. reported. They were up 2.22% on average. The bulk of that occurred on the new year's...

Critical Condition.(A)(EDITORIALS)
January 6, 2003... Medicare: In Washington, reform in theory is often better than reform in practice. We hope the president's reorganization of the federal hospital and health care insurance program for the elderly doesn't disappoint. Encouraging is this...

Borderline Insanity.(A)(EDITORIALS)
January 6, 2003... Immigration: The FBI is out looking for a group of Middle Eastern men who slipped in from Canada. It's just another example of our porous borders at work. The recent invasion from the north, possibly through an Indian reservation, might...

A Fight Over Jobless Benefits May Set New Congress' Tone.(A)(NATIONAL ISSUE)
January 6, 2003... Byline: JOSEPH GUINTO In Texas' hilly Bexar County, some 4,200 people lost a regular paycheck last week. A few hours north, in the flat plains of Tarrant County, 4,000 people lost as much as $319 in weekly funds each. All told, some...

Indexes Hold Gains Despite HD Warning.(B)
January 6, 2003... Byline: CRAIG SHAW NYSE stocks ticked down Friday, but kept the bulk of gains from Thursday's rally despite Home Depot's profit and sales warning. The Dow slipped 0.1%; the S&P 500 fell less than a point. Volume eased for the eighth...

Market Refuses To Give Up Gains From Prior Rally.(B)
January 6, 2003... Byline: CHRIS GESSEL The market couldn't put together a back-to-back rally on Friday. But it did the next best thing as stocks turned in small gains and losses in lighter volume. The major indexes traded in a tight range following...