Daily News (New York, NY) articles from November 2001

Daily News (New York, NY) archives from November 2001

Treasury Announces End of 30-Year Bonds Due to Declining Buyer Interest.
November 1, 2001... Nov. 1--It's a 30 for the 30-year bond, once considered the safest financial instrument in the world. In a surprise move that could result in lower interest rates on home mortgages and many other loans, the Treasury said it would no longer...

Economy Keeps Slipping.
November 1, 2001... Byline: Judith Schoolman Nov. 1--The economy contracted in the third quarter, although less than expected, and will likely keep shrinking through the end of the year, economists said yesterday. The Gross Domestic Product, the...

Economy, Attacks Leave Trump Hotels & Casino Resorts Struggling.
November 1, 2001... Byline: Eric Herman Nov. 1--The Donald needs more time to pay his IOUs. Pummeled by a bad economy and burdened with more than $1.5 billion in debt, Trump Hotels & Casino Resorts said yesterday it would not make interest payments owed...

New York Officials Decline to Join Microsoft Settlement.
November 2, 2001... Byline: Rachel Scheier Nov. 2--State officials declined to sign onto a tentative settlement between federal authorities and Microsoft yesterday that would end the epic anti-trust case against the software giant. Sources said the states...

Insurance Debate for World Trade Center May Depend on `Occurrence' Definition.
November 2, 2001... Byline: Eric Herman Nov. 2--Billions of dollars of insurance to rebuild the World Trade Center could depend on a single E-mail, according to lawyers for Larry Silverstein, the developer who controlled the property. In legal papers to...

Bill Gates Expresses Satisfaction over Microsoft Deal with Justice Department.
November 3, 2001... Byline: Rachel Scheier Nov. 3--Bill Gates hailed the proposed settlement that could end Microsoft's long-running antitrust woes yesterday, while consumer groups and other critics blasted the deal as far from tough enough. The Justice...

Daily News, New York, Publishing Column.
November 6, 2001... Byline: Paul D. Colford Nov. 6--As the Book-of-the-Month Club prepares to celebrate its 75th anniversary this week, one of its newly seated judges has given a British writer his own reason to cheer. Anna Quindlen, the popular author...

Investors' Good Mood Pushes Nasdaq Up 3 Percent.
November 6, 2001... Byline: Judith Schoolman Nov. 6--Anticipation of a sizable interest rate cut by the Fed today, and optimism this could herald stronger corporate profits put investors in a buying mood yesterday, sending the Nasdaq up almost 3 percent. ...

Federal Reserve Cuts Interest Rates for Third Time Since Attacks.
November 7, 2001... Byline: Judith Schoolman Nov. 7--Alan Greenspan and the Fed cut interest rates by one-half per cent for the third time since Sept. 11 and the 10th time this year, saying they'll do it again to help the economy widely believed to be in a...

Daily News, New York, Media Column.
November 7, 2001... Byline: Phyllis Furman Nov. 7--Wanted: a multimillion dollar record deal for Rod Stewart -- and it's going to be a tough sell as the music biz goes sour over aging rock stars. In what could mark the end of his 26-year relationship with...

Dutch Firm Struggles to Find Buyer for New York City Toy Mecca.
November 7, 2001... Byline: Nancy Dillon Nov. 7--Finding a buyer for toy mecca FAO Schwarz is proving a bear for Dutch parent Royal Vendex. Vendex, which first announced intentions to sell FAO Schwarz in September, said yesterday sales at the upscale toy...

Ratings Slip Causes Worry at ABC.
November 8, 2001... Byline: Phyllis Furman Nov. 8--Its more drama than comedy these days at ABC. The TV season's off to a less than amusing start for the Disney-owned network, which has seen its ratings decline at a steeper rate than its peers. And...

Data Indicates Slump May Be Hitting New York Harder than Rest of Nation.
November 8, 2001... Byline: Nancy Dillon Nov. 8--The New York economy appears to be in a deeper recession than the rest of the nation. New figures from the city controller's office show the local economy shrank at an annual rate of 1.6 percent during the...

World Trade Center Developer Releases Timetable for Rebuilding.
November 8, 2001... Byline: Eric Herman Nov. 8--Give Larry Silverstein a year and he'll be rebuilding the World Trade Center. The developer who controlled the target of the Sept. 11 terrorist attacks announced an aggressive timetable to rebuild the...

Frugal Shoppers Keep Discounters' Sales Figures Going Strong.
November 9, 2001... Byline: Nancy Dillon Nov. 9--Discounters like Wal-Mart posted solid October sales as budget-conscious shoppers skirted pricey mall retailers to stretch their dollars further. Overall, chain stores apart from Wal-Mart struggled to eke...

Commission States Amtrak to Fail to Meet Self-Sufficiency Deadline in 2002.
November 10, 2001... Byline: Nancy Dillon Nov. 10--Federal regulators have blown the whistle on what they consider Amtrak's dire financial state, a move that could lead to liquidation of the nation's rail passenger company. Federally subsidized Amtrak,...

Producer Price Index Falls 1.6 Percent in October.
November 10, 2001... Byline: Judith Schoolman Nov. 10--In a sign companies would rather trim profits than lose sales in the face of slumping demand, prices paid to producers, factories and farmers posted the steepest fall in history last month. The...

Pakistani Clothing, Textiles Industry Sees Drop in U.S. Business.
November 11, 2001... Byline: Judith Schoolman Nov. 11--A Manhattan importer of Pakistani leather goods has received threatening phone calls. The callers seem to think Pakistan, a U.S. ally bordering Afghanistan, is somehow linked to the terrorists who took...

Daily News, New York, Guerrilla Investing Column.
November 12, 2001... Byline: Peter Siris Nov. 12--The other day I passed a man with a table and three cards: two aces and a joker. He was offering a chance to find the joker. He was very adept at slight of hand. Perhaps he used to be the CEO of a major...

Unemployed Dot-Comer Sells Irascible Toy Bears.
November 12, 2001... Byline: Rachel Scheier Nov. 12--Unlike a lot of other dot-comers who lost their jobs when the Internet gravy train came to a screeching halt, Marc Weinberg couldn't move back in with his parents. For one thing, he's 45. For another, he...

New York Stock Exchange Project Continues to Flounder.
November 12, 2001... Byline: Eric Herman Nov. 12--As Mayor Giuliani's term draws to a close, a cloud has enveloped his pet development project, building a new home for the New York Stock Exchange. Three years after the plan was first announced, it seems no...

Amid Slump, Uncertainty, Number of Investors in Mutual Funds Rises.
November 13, 2001... Byline: Eric Herman Nov. 13--In the face of a stock market staggering under early-stage recession and the uncertainty of war, more people than ever are investing in mutual funds. About 52 percent of U.S. households now invest in the...

Markets Bounce Back after American Airlines Crash in New York.
November 13, 2001... Byline: Judith Schoolman Nov. 13--Wall Street reeled at the first news of the American Airlines crash in Queens, which rekindled the horrors of Sept. 11, but the markets recovered after officials said it was more likely an accident than...

New York Cable TV Provider Losses Money on Entertainment, Sports Division.
November 14, 2001... Byline: Phyllis Furman Nov. 14--The Knicks' woes are creating big trouble for Cablevision. New York's largest cable operator said its losses in the past three months doubled over a year earlier after taking big write-offs relating to...

Daily News, New York, Media Column.
November 14, 2001... Byline: Phyllis Furman Nov. 14--The next few months could be hard on longtime "Good Day New York" co-anchor Jim Ryan. The prominent newsman, who's been called the heart and soul of the Fox 5 morning show, is expected to face some tough...

Car Rental Giant Files for Bankruptcy.
November 14, 2001... Byline: Nancy Dillon Nov. 14--The parent of Alamo Rent A Car and National Car Rental filed for bankruptcy yesterday, the first domestic casualty of the post-Sept. 11 collapse in travel. Cash-strapped ANC Rental had already missed some...

Financing Deals Drive Auto Sales Up at Record Pace.
November 15, 2001... Byline: Judith Schoolman Nov. 15--The lure of 0 percent financing brought flocks of consumers into car dealerships last month, driving the nation's total retail sales up at a record pace. But economists warned October's surge was...

New York's Largest Health Insurer Picks New Home in Brooklyn.
November 15, 2001... Byline: Eric Herman Nov. 15--Empire Blue Cross and Blue Shield, a former World Trade Center tenant that is New York's largest health insurer, has picked Brooklyn for its new home. Empire will move its headquarters to a new, 19-story...

Burlington Industries Files for Bankruptcy Due to Imports, Economy.
November 16, 2001... Byline: Judith Schoolman Nov. 16--Burlington Industries, once the largest textile producer in the world, said yesterday it was forced into bankruptcy because of waves of cheap imports and the slowdown in consumer spending. "The key...

New York-Based Clothing Maker Pushes Out CEO Blamed for Bankruptcy.
November 17, 2001... Byline: Judith Schoolman Nov. 17--Linda Wachner, who aggressively built Warnaco into one of the world's leading clothing manufacturers, but was blamed when it fell into bankruptcy, was pushed out yesterday The head of the company's...

Daily News, New York, Guerrilla Investing Column.
November 19, 2001... Byline: Peter Siris Nov. 19--Too many executives run companies as their own private fiefdoms. They get paid exorbitant salaries, surround themselves with yes men as directors, spend money on wild ego trips, and, after destroying their...

Expectations Remain Uncertain for Holiday Tourism in New York.
November 19, 2001... Byline: Phyllis Furman Nov. 19--The school buses have stopped pulling up to the Smithsonian in Washington. The lines for Disney's Pirates of the Caribbean ride have shrunk from two hours to 30 minutes. And here in New York, a swanky room...

Toy "R" Us to Open 110,000-Square-Foot Store in Times Square.
November 19, 2001... Byline: Judith Schoolman Nov. 19--Toys "R" Us hopes it can lure the vanishing tourists to the crossroads of the world by giving them "the ultimate family experience." So from the 20-foot high animatronic T-Rex that just might scare...

Dow, Nasdaq Have Good Day.
November 20, 2001... Byline: Judith Schoolman Nov. 20--Stocks roared into bull territory yesterday, officially the first new bull market in a decade. The Dow rose more than 20 percent since bottoming out on Sept. 21, and the Nasdaq set a three-month high...

Two Cruise Ship Operators Merge in Effort to Survive Aftermath of Attacks.
November 21, 2001... Byline: Nancy Dillon Nov. 21--Cruise ship operators Royal Caribbean and P&O Princess are merging operations in an effort to shore up global coverage and better navigate the aftermath of Sept. 11. Industry watchers said this latest...

Attacks Shockwaves, Slow Economy Spreading Overseas, Researchers Say.
November 21, 2001... Byline: Judith Schoolman Nov. 21--The shockwaves from Sept. 11 continue to be felt throughout the country and the effects of the slowed economy are spreading overseas, government and private researchers said yesterday. Because of...

Magazine Advertising Declines by 11 Percent after Attacks.
November 21, 2001... Byline: Paul D. Colford Nov. 21--This year's plunge in magazine advertising significantly worsened after Sept. 11, resulting in the worst quarter in more than a decade. The December issues of 168 monthly magazines contain 17 percent...

Developer's Vision for Rebuilding New York's World Trade Center Grows.
November 22, 2001... Byline: Eric Herman Nov. 22--Larry Silverstein expanded on his vision of a rebuilt World Trade Center yesterday, adding a performing arts center or museum and luxury hotel with condo apartments to a cluster of buildings and memorial on the...

New York Entrepreneur Makes Life Easier with Clothing-Storage Service.
November 26, 2001... Byline: Nancy Dillon Nov. 26--Closets used to be simple and connect to your bedroom. Now they require drop-off and pick-up times and a leather-bound photo catalogue. At least that's how closets work according to Carlos Rodriguez, who...

California Billionaire in Talks to Buy New York Office Tower.
November 26, 2001... Byline: Eric Herman Nov. 26--Marvin Davis, the Beverly Hills oil billionaire, is in final talks to buy the 40-story Lexington Avenue building that towers over the Grand Central post office. It'll be the first foray into New York real...

New York Luxury Merchandiser Opens New Stores for Holiday Season.
November 26, 2001... Byline: William Sherman Nov. 26--With deep-discounters gearing up for a bonanza this shopping season, playing off continuing economic woes, one New York operation opened four new stores just for the holidays. Georgia Trading, a dealer...

Daily News, New York, Peter Siris Column.
November 26, 2001... Byline: Peter Siris Nov. 26--This market scares me, because, for the first time in two years, I don't know where it is going. That is not to say that I have always been right. I haven't. But I have always had conviction. Two years...

New York Shoppers Give Strong Showing over Holiday Weekend.
November 27, 2001... Byline: Judith Schoolman Nov. 27--New York shoppers rallied during the three-day Thanksgiving weekend, spending 2.6 percent more than they did a year ago, pleasing experts who expected far worse and beating consumers across the country who...

Daily News, New York, Publishing Column.
November 27, 2001... Byline: Paul D. Colford Nov. 27--Many New Yorkers are amused these days to see how closely the New York Post now resembles the rival Daily News, especially the front and back pages. Before long, the Post may also reflect the look of...

National Bureau For Economic Research Says Recession May Be Near.
November 27, 2001... Byline: Judith Schoolman Nov. 27--The end of the recession may be just around the corner. That was the message from the National Bureau for Economic Research, the body that officially declares a recession, which confirmed yesterday...

Economists Say Holiday Spending May Do Little to Pull Country Out of Recession.
November 28, 2001... Byline: Judith Schoolman Nov. 28--Consumer confidence eroded unexpectedly in November to a 7 1/2-year low as Americans grew increasingly worried about their jobs. This bad news led top economists to predict a holiday selling season...

This Year's Hot Toy Is LEGO's Harry Potter Hogwarts Castle.
November 28, 2001... Byline: Nancy Dillon Nov. 28--LEGO's Harry Potter Hogwarts Castle is shaping up to be this year's Tickle Me Elmo. A nationwide shortage is taking hold of the complex, 685-piece LEGO set, based on Harry Potter's medieval-style wizard...

Daily News, New York, Media Column.
November 28, 2001... Byline: Phyllis Furman Nov. 28--The Salt Lake City Winter Olympics are still more than two months away and NBC television network president Randy Falco is already sounding like a medal winner. Despite the weak economy, sales of Olympic...

Enron Heads Toward Bankruptcy after Dynergy Calls Off Purchase.
November 29, 2001... Byline: Judith Schoolman Nov. 29--Energy giant Enron, facing government and shareholder investigations into its finances, teetered toward bankruptcy yesterday after its debt was reduced to junk status and rival Dynegy called off its...

New York Newsstands to Offer New Daily Newspaper.
November 29, 2001... Byline: Paul D. Colford Nov. 29--A new Sun will be coming out on New York newsstands. The New York Sun -- the first new daily newspaper since the death of New York Newsday in 1995 -- will debut within a year. Publishing Monday...

Jobless Claims for Americans Remaining Out of Work Hit 4.02 Million.
November 30, 2001... Byline: Judith Schoolman Nov. 30--Painting a grim employment picture, the number of Americans remaining out of work jumped to a 27-year high, the government said yesterday, while a separate study showed fewer employers were looking for new...

New York City's High-End Retailers Plan Big Sales to Keep Consumers Going.
November 30, 2001... Byline: Nancy Dillon Nov. 30--High-end retailers are planning even deeper markdowns to keep the glimmers of holiday consumer momentum alive. Consumers have gravitated toward discount retailers where most of the post-Thanksgiving...