Daily News (New York, NY) articles from August 2003

Daily News (New York, NY) archives from August 2003

Projected Rise in Hispanic Spending Has New York TV Stations Salivating.
August 1, 2003... Byline: Phyllis Furman Aug. 1--The wallets of Hispanic New Yorkers are set to get fatter. Spanish language TV stations are salivating as a new study to be released Monday predicts Hispanic spending in the tri-state area will more than...

New York Times Launches Retooling with New Managing Editors.
August 1, 2003... Byline: Nancy Dillon Aug. 1--Bill Keller launched his aggressive retooling of the New York Times newsroom yesterday, naming Jill Abramson and John Geddes to share the position of managing editor. The move marked the first time in the...

New York City Mayor Says Property Tax Hike May Re Rolled Back.
August 1, 2003... Byline: David Saltonstall Aug. 1--The city's largest-ever property tax hike could be rolled back -- assuming the local economy recovers, Mayor Bloomberg said yesterday. In testimony before the state Financial Control Board, Bloomberg...

New York City Transit Agency's Hotline Features Long Waits, Wrong Information.
August 1, 2003... Byline: Pete Donohue Aug. 1--Got a question about navigating the bus and subway system? Good luck. Your odds of getting a live person on the Transit Authority's travel information line are about the same as getting a rush-hour seat on...

Upbeat Economic News Bolsters Indexes before Profit-Taking Pares Earlier Gains.
August 1, 2003... Aug. 1--The economy surged ahead in the last three months, surprising economists by growing at its highest rate in almost a year, the Commerce Department said yesterday. The biggest increase in defense spending since the Korean War...

Verizon, Unions Remain Far Apart on Contract Deal.
August 1, 2003... Byline: Eric Herman Aug. 1--The scene is a diner, where two men are talking about Charlie's operation -- and how much it cost. "He must have run up some bill," the proprietor says in the commercial. "His job covered almost all of...

New York Mayor Opposes Attempts to Change Proposed World Trade Center Plans.
August 1, 2003... Aug. 1--Mayor Bloomberg opposes any attempt to change the proposed site of the world's tallest building from the northwest corner of Ground Zero. In a strongly worded letter to the Port Authority yesterday, the administration also said it...

New York Airport's Privately-Owned International Terminal Adds 50th Airline.
August 1, 2003

Bear Stearns Teams Up with Rudy Giuliani.
August 1, 2003

U.S. Loses 44,000 Jobs in July.
August 2, 2003... Aug. 2--The nation lost another 44,000 jobs in July, reminding investors that execs still lack confidence in the growth of the economy. The job cuts were greater than expected and marked the sixth straight month of declines, according to...

Rheingold Beer Makes Comeback in New York City.
August 4, 2003... Byline: Tom van Riper Aug. 4--Miss Rheingold is back. And, by the way, so is the beer. Under new CEO Tom Benheim, a 40-year-old turnaround specialist who took the reins 18 months ago, the company has launched a comeback. With a...

Office Rental Market in New York City May See Improvement.
August 4, 2003... Byline: William Sherman Aug. 4--There's new reason for optimism on the horizon for New York City's flailing economy. Some major commercial real estate specialists expect to see substantial improvement in the huge, though...

Daily News, New York, Peter Siris Column.
August 4, 2003... Byline: Peter Siris Aug. 4--The war on deflation has started. The Fed and the President are committed to do what's necessary to create jobs, stimulate demand, and get the economy moving. Their success won't be instantaneous, but...

New York City Subway Rerouting Frays Passengers' Nerves.
August 4, 2003... Aug. 4--Subway riders were bleary-eyed, out of breath and frustrated yesterday after navigating a tangled maze of train routes during weekend construction on 18 of the system's 22 lines. "You go from one line to the other. They change the...

Union Leaders Report 'Progress' in Ongoing Contract Negotiations with Verizon.
August 4, 2003

Corporations Enjoy Higher Quarterly Profits; Markets Rally on Positive News.
August 5, 2003... Aug. 5--Corporate profits are headed for their fifth straight rising quarter, thanks to cost-cuts and heavy spending by consumers. With over 80 percent of the Standard & Poor's 500 companies reporting results, companies have increased...

Former Lands' End Chief Named CEO of Struggling Tommy Hilfiger.
August 5, 2003... Byline: Nancy Dillon Aug. 5--Tommy Hilfiger, famous for landing his red white and blue clothes on country club greens and urban black tops, tapped ex-Lands' End chief David Dyer as the new CEO of his struggling company. Dyer, 53, is...

Radio Snafus Cited in Long Island, N.Y., Rail Rider's Death.
August 5, 2003

End of Line Coming Soon for New York Token Booths.
August 5, 2003

Morgan Stanley May Consider Selling Discover Credit Card Unit.
August 6, 2003... Byline: Daniel Dunaief Aug. 6--Morgan Stanley may try to sell its Discover credit card unit, the sixth largest in the country, as growth has lagged its peers. Morgan Stanley CEO Phil Purcell acknowledged to Merrill Lynch analyst Guy...

Poor Employment News Outweighs Service Sector Growth, Pushing Stocks Lower.
August 6, 2003... Aug. 6--Strong growth in the service sector was outweighed by another dose of discouraging employment news yesterday, sending stocks tumbling. The Dow plunged 149.72 to 9,036.32, the biggest decline in three months, as all 30 Dow stocks...

Settlement Close, as Talks Intensify Between Verizon, Labor Unions.
August 6, 2003... Byline: Eric Herman Aug. 6--Talks intensified between Verizon and its labor unions yesterday as the company said the two sides were on the verge of a settlement -- but union officials disagreed. The Communications Workers of America...

New York's 'Ground Zero' Boundaries Would Extend Further under Revised Plan.
August 6, 2003... Aug. 6--The boundaries of Ground Zero would grow significantly to accommodate a new park and better safeguards against terrorist strikes, under a revised master plan obtained by the Daily News. The scheme, being crafted by planning...

Watch Out for Plots Against Ferries, Coast Guard Warns.
August 6, 2003

More New Yorkers Left State -- For Florida -- Than Moved There at Decade's End.
August 6, 2003

Second-Quarter Profit Picture Remains Rosy for Big Corporations.
August 6, 2003

Audit Shows New York Racing Association $50 Million in Debt.
August 6, 2003

New York's Subway Cleanup Crew, Clerk Jobs to Be Slashed.
August 6, 2003

Pregnancies Exposed to World Trade Center Pollution Resulted in Smaller Babies.
August 6, 2003

New York Mayor Rips Governor over Move to Torpedo Debt Restructuring Plan.
August 7, 2003... Byline: Michael Saul Aug. 7--Simmering tensions between Mayor Bloomberg and Gov. Pataki boiled over last night as the mayor accused a state board of trying to blow a $500 million hole in the city's budget. Bloomberg vowed to sue after...

Citigroup Chooses Top Official for Its Consumer Banking Unit.
August 7, 2003... Byline: Daniel Dunaief Aug. 7--Citigroup tapped Marjorie Magner to head its consumer banking unit, the most profitable group at the world's largest financial services firm. Magner, 54, who had been No. 2 in the consumer banking unit,...

Financial Battle Threatens to Delay Ground Zero Rebuilding.
August 7, 2003... Aug. 7--Gov. Pataki's push to lay the cornerstone for Ground Zero rebuilding by next August may be a bust because of a nasty money fight, the Daily News has learned. A financial battle between the Port Authority, developer Larry...

Daily News, New York, Media Column.
August 7, 2003... Byline: Phyllis Furman Aug. 7--Call her Mariah the mogul. Mariah Carey is scripting plans for an entertainment and fashion business targeting the lucrative pre-teen girls market, show biz sources said. The diva and her business...

Another Merrill Lynch Executive Resigns.
August 7, 2003... Aug. 7--The boardroom battle that pitted Merrill Lynch CEO Stanley O'Neal against top lieutenant Thomas Patrick has claimed another victim. Arshad Zakaria, Merrill's 42-year-old head of investment banking and global markets, abruptly...

Staten Island, N.Y., Union Official Charged with Grand Larceny in Sex Scandal.
August 7, 2003... Aug. 7--A former bean counter with the New York Hotel and Restaurant Employees Union was busted yesterday for raiding the group's coffers to pay for forbidden fruit. Patrick Monachino of Staten Island is accused of ripping off $170,000...

KILL: Merrill Lynch Executive Vice President to Leave Firm.
August 7, 2003

New Mortgage Applications Spike; Wall Street Rebounds Slightly.
August 7, 2003

New York Transit Authority May Ax Work Crews Specializing in Subway Safety.
August 7, 2003

New York City Mayor Vows Legal Fight over State Refusal to Refinance Debt.
August 8, 2003... Aug. 8--A day after a state board controlled by Gov. Pataki blew a $500 million hole in the city's budget, Mayor Bloomberg promised to unleash hell's fury at the courthouse -- but refused to throw one punch in the political ring. "The...

Jones Apparel Group Gains Anne Klein Parent Firm for $216.6 Million.
August 8, 2003... Byline: Nancy Dillon Aug. 8--The bidding war for the bankrupt parent of Anne Klein soared higher than expected yesterday before Kellwood finally stopped trying to keep up with the Joneses. Jones Apparel Group yesterday snagged Anne...

Retailers' Shares Lead Markets Higher on Rosy Sales Reports.
August 8, 2003... Aug. 8--Stocks got a lift yesterday from July retail sales that were pushed higher by warmer weather and plenty of discounts. Shares of retailers helped lead the charge, sending the Dow up 64.71 to 9,126.45. The Nasdaq shed less than a...

New York's Tourism Industry Continues to Catch Bad Breaks.
August 8, 2003... Byline: Eric Herman Aug. 8--The city's tourism industry can't catch a break. Already hurting because of the economy, it now has to contend with bad weather and bad publicity from rats taking over firehouses and a bottle attack on a...

Former New York Times Managing Editor Says He Never Mentored Reporter Blair.
August 8, 2003

Continued Weekend New York City Subway Work Means Ongoing Transit Headaches.
August 8, 2003

Owner of World Trade Center Site Seeks Control over Planned Retail Portion.
August 8, 2003

Strong McDonald's Sales Lifts Dow But, Nasdaq Drags on Weak Computer Chips.
August 9, 2003... Byline: Nancy Dillon Aug. 9--Robust sales at McDonald's gave the Dow a lift yesterday but weakness in computer chips sent tech investors grimacing. The Dow rose 64.64 to 9,191.09, ending the full week higher and heading into Monday on...

OPINION: Less for More Is New York Transit Authority's Way.
August 10, 2003... Byline: Albor Ruiz Aug. 10--When it comes to the Metropolitan Transportation Authority's plan to close 62 token booths and reduce personnel despite hiking fares two months ago, Maria Alvarez asks the right question. "What other...

New York, New Jersey Officials Survey Cleanup Efforts on Interstate Waterways.
August 10, 2003... Byline: Bill Farrell Aug. 10--It's taken more than 30 years, billions of dollars and an act of Congress, but local waterways from Sandy Hook to Spuyten Duyvil and beyond are again open for recreation and being used as breeding grounds for...

New York Mayor Defends Bid to Ease City's Debt.
August 10, 2003

New York Nears Completion on Improving 77,000 Pedestrian Signals.
August 10, 2003

French Pilot's Joke Lands Him in New York City Jail.
August 10, 2003

Queens Leads New York in Illegal Housing.
August 11, 2003... Byline: Donald Bertrand Aug. 11--Queens' population boom over the past two decades has made the borough home to the largest number of illegal housing units in the city, a new report says. The study by the Citizens Housing and Planning...

Daily News, New York, Guerrilla Investing Column.
August 11, 2003... Byline: Peter Siris Aug. 11--Now that you have made back some of your losses from the stock market collapse, it might be useful to look at the differences between index funds, mutual funds, and hedge funds. The index fund is the...

Abrupt Mortgage Rate Rise Pinches New York Consumers.
August 11, 2003... Byline: Nancy Dillon Aug. 11--Surging mortgage rates aren't cooperating with Carmen Bayon and her dream of buying that "cute little truck" now in Chrysler showrooms. Bayon, 40, was counting on refinancing the mortgage for her...

Error-Filled Recycling Information Puts Many New Yorkers in Foul Mood.
August 11, 2003... Aug. 11--Hold your noses, New Yorkers: The big stink is here. With recycling pickups slashed to once every two weeks -- and massive confusion over the new schedule -- rain-soaked garbage is piling up all over the humid city, turning...

Weekend Chaos on New York City Subway Lines Runs Its Course.
August 11, 2003

Fight to Demolish Building near Ground Zero May Delay WTC Plan.
August 11, 2003

WTC Families Blast Giuliani on Memorial.
August 11, 2003

Time Warner Executives Look to Dump Struggling AOL.
August 12, 2003... Byline: Phyllis Furman Aug. 12--Time Warner wants to dump AOL. AOL Time Warner execs are looking to erase AOL from their corporate name in what looks like a move to distance the media giant from its struggling Internet division. ...

New York City Report Claims Bridge Contractor Cut Corners on Rebuilding Job.
August 12, 2003... Byline: Ralph R. Ortega Aug. 12--Racing to win a $5 million bonus, a company rebuilding the Third Ave. Bridge allegedly dumped concrete-tainted water into the Harlem River and nearly hit a Circle Line tourist boat with a giant steel beam,...

Hewlett-Packard Unveils Flashy New Line of Digital Equipment.
August 12, 2003... Byline: Nancy Dillon Aug. 12--Hewlett-Packard got flashy yesterday and unveiled a host of new digital cameras, printers, scanners, VHS-to-DVD home movie converters and consumer gadgets. There were more than 158 new offerings,...

Falling Ad Revenues, Legal Troubles Slash Profits for Martha Stewart Omnimedia.
August 12, 2003... Byline: Nancy Dillon Aug. 12--Profits at Martha Stewart's media company crumbled like a dry pie crust last quarter, the first reporting period since Stewart's indictment on criminal charges. Profits plunged 86 percent while sales...

Former Trader Alleged to Have Bilked $43 Million from Merrill Lynch.
August 12, 2003... Byline: Daniel Dunaief Aug. 12--Daniel Gordon was living in a sprawling $3 million upper East Side condo, complete with wood-paneled study and restaurant-style kitchen, as he was allegedly scamming Merrill Lynch out of $43 million. The...

Agencies Probe Allegations Broker Scammed Merrill Lynch Out of $43 Million.
August 12, 2003... Byline: Daniel Dunaief Aug. 12--Gordon Gekko might have nothing on financial whiz kid Daniel Gordon. Gordon, the youthful former head of energy trading at Merrill Lynch, is being investigated on allegations he embezzled the Wall Street...

Daily News, New York, Publishing Column.
August 12, 2003... Byline: Paul D. Colford Aug. 12--Editor Bonnie Fuller's steady menu of J.Lo and Ben, Jennifer and Brad and troubled stars such as Mariah Carey caused Us Weekly's newsstand sales to soar. But not permanently. Us' average...

New York Racing Association Donates Millions to State Politicians.
August 12, 2003... Aug. 12--Officials of the state's embattled Thoroughbred racing outfit have doled out $1.3 million in campaign contributions to Gov. Pataki and other key state lawmakers since 1999, records show. The enriched lawmakers wield the most...

New York City Trash Agency Head Says Accumulating Trash Is Here to Stay.
August 12, 2003... Byline: Alison Gendar Aug. 12--The city's sanitation commissioner conceded yesterday there's more garbage on the streets -- but said there's nothing he can do about it. With recycling cut back to once every two weeks and the recent...

New York Mayor, Governor Announce World Trade Center Attack Anniversary Plans.
August 12, 2003... Aug. 12--The names of those killed will be read by the children they left behind. The towering Tribute in Light will return for one night. And across the city, church bells will toll at the moment the first plane struck. These will be...

Tempe, Ariz.-Based Discount Airline to Begin New York City-California Service.
August 12, 2003

Unseen by Security, Stranded Fishermen Wander New York's JFK Airport Runways.
August 12, 2003

New York City Inspectors Target Restaurant Featured on Reality TV Show.
August 12, 2003

Pleased with Progress, Federal Reserve Leaves Interest Rates Unchanged.
August 13, 2003... Byline: Tom Van Riper Aug. 13--Pleased with increased business spending and the beginnings of economic growth, the Fed left interest rates unchanged yesterday at 45-year lows. In a statement after its regular meeting, the Fed added...

Editorial Director of Columbia Journalism Review Steps Down.
August 13, 2003

Ikea Reaches Agreement with New York-Area Marine Operator.
August 14, 2003... Byline: Melissa Grace Aug. 14--Ikea and a local marine operator announced an agreement yesterday for a commercial dock to operate on piers on Red Hook property where the furniture giant plans to build a megastore. Under the proposal,...

Daily News, New York, Media Column.
August 14, 2003... Byline: Phyllis Furman Aug. 14--VIVENDI, NBC DEAL HEATS UP: NBC president Bob Wright met yesterday at 30 Rock with Vivendi chief Jean Rene-Fourtou for talks on possible merger of show biz empires. With a Monday deadline looming for bids,...

Wal-Mart's Robust Quarterly Sales Report Leads Retail Revival.
August 14, 2003... Aug. 14--Wal-Mart racked up another eye-popping quarter yesterday as the government said strong demand for clothing, electronic goods and cars drove an across-the-board retail sales pop in July. Still, profits at department store giant...

State Board Blocks New York City Bond Sale.
August 14, 2003

New York's Pension Costs for Public Employees May Hit $4 Billion by 2007.
August 14, 2003

Despite Robust Retail Report, Stocks Close Lower on Profit-Taking.
August 14, 2003

Federal Investigators Bar Former Tyco Auditor.
August 14, 2003

U.S., Canada Trade Blame over Blackout.
August 15, 2003... Aug. 15--What made the lights go out yesterday? New York officials blamed Canada as a potential source of the largest blackout in U.S. history, but across the border, the finger was pointed in the other direction. Canadian Prime...

Blackout Strains New York's Cell Phone Networks.
August 15, 2003... Byline: Tom Van Riper Aug. 15--New York's cell phone networks froze under the strain of up to four times as many customers as they were designed to handle -- all trying to be heard at the same time. "The models are built for about 20...

Computers Activate, Govern New York City Power Shutdown.
August 15, 2003... Aug. 15--Computers, not humans, switched off the power across New York City yesterday, leaving shocked Con Ed officials scrambling. "Like most New Yorkers, we were taken by surprise," said company spokesman Michael Clendenin. "There was...

Blackout Brings Cities across Northern U.S., Ontario to Sudden Halt.
August 15, 2003... Byline: Helen Kennedy Aug. 15--The blackout spread west to Michigan and north to Ottawa, hitting hardest in cities where people aren't as used to walking as New Yorkers. As many as 42 million people were without power in Michigan,...