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

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

Manufacturing Sector Sees Slight Improvement on Wall Street.
September 1, 2001... Byline: Judith Schoolman Sep. 1--Glimmers of improvement in the manufacturing sector helped break a four-day selling binge, but blue chips remained below the 10,000 mark as stocks clocked their biggest weekly losses since March. The...

Excite@Home Wins Temporary Reprieve in Repaying $50 Million Loan.
September 1, 2001... Byline: Rachel Scheier Sep. 1--Cash-strapped Excite@Home got a new lease on life last night. The Silicon Valley high-speed Internet company, struggling all week to meet a lender's demand to repay $50 million by the end of the day...

Merrill Lynch Investigates Donation to Little League.
September 1, 2001... Byline: Judith Schoolman Sep. 1--Merrill Lynch officials are investigating their decision to donate $50,000 to the scandal-plagued Rolando Paulino Little League. "This thing is far from over," said a person knowledgable about the...

Daily News, New York, Peter Siris Column.
September 3, 2001... Byline: Peter Siris Sep. 3--WHO CAN YOU BELIEVE? Not George Bush. We discovered he needed to raid Social Security after all. Not Danny Almonte. We discovered he wasn't 12. Not tech execs. They discovered that growing their businesses...

Estee Lauder Signs Super-Model to Present Fresh Look.
September 7, 2001... Byline: Judith Schoolman Sep. 7--Estee Lauder has a new look. The world's biggest cosmetics company signed a relative unknown to be the new face of its namesake brand, moving actress Elizabeth Hurley to a less prominent position. ...

Daily News, New York, Publishing Column.
September 7, 2001... Byline: Paul D. Colford Sep. 7--The hard times in publishing may get harder for a number of staffers at Hachette Filipacchi Magazines. Sources said the French-owned publisher of Elle, Premiere, Woman's Day, Metropolitan Home and other...

Wal-Mart Leads Pack of Discounters Leaving Upscale Retailers in Dust.
September 7, 2001... Byline: Nancy Dillon Sep. 7--Nervous consumers listened to their inner bargain hunter in August, pumping up sales at discount and wholesale chains at the expense of top-drawer retailers. Overall, it was a bleak month for the industry,...

Tech Stocks, Blue Chips Decline.
September 7, 2001... Byline: Judith Schoolman Sep. 7--Tech stocks tanked 3 percent yesterday, edging near 2 1/2-year lows set in April, and blue chips extended their decline as a report showing unexpected weakness in the service sector sent investors scurrying...

Circuit City Reports Plummeting Summer Sales.
September 8, 2001... Byline: Eric Herman Sep. 8--Circuit City, the nation's No. 2 electronic retailer, lost nearly a quarter of its sales over the last three months. Feeling the pinch of a slowing economy and slipping consumer confidence, the stores that...

Gap CEO Tries to Account for Low Sales at Investor Conference.
September 8, 2001... Byline: Nancy Dillon Sep. 8--The head of struggling clothier Gap turned an investor conference into a confessional yesterday. "We've made a lot of mistakes," CEO Millard Drexler said. "It's easy to get distracted, and frankly, that is...

Tech Industry Magazine To Decrease Publication Schedule.
September 8, 2001... Byline: Paul D. Colford Sep. 8--Red Herring, one of the first magazines to track investors' love affair with technology and the Internet, showed yesterday how the waning of that romance has hurt its own business. The 8-year-old title,...

Daily News, New York, Publishing Column.
September 8, 2001... Byline: Paul D. Colford Sep. 8--It's time now for the books. Pocket Books said yesterday that Time magazine music writer Christopher John Farley will do a quick book on Aaliyah, the R&B singer who died in a plane crash two weeks ago....

New Jersey-Based Bank Moves into New York City.
September 10, 2001... Byline: Judith Schoolman Sep. 10--A suburban New Jersey bank, which joins fast-food efficiency with hometown banking is landing in Manhattan this week. Commerce Bancorp is on the prowl for under-appreciated customers seeking quick,...

Developer Has Big Plans for Retail Space in New York's World Trade Center.
September 10, 2001... Byline: Eric Herman Sep. 10--When Larry Silverstein stood in the blazing July sun to accept a set of ceremonial keys to the World Trade Center, a young Australian stood beside him waiting for keys to the basement. And what a basement:...

Daily News, New York, Peter Siris Column.
September 10, 2001... Byline: Peter Siris Sep. 10--Last week I stuck my neck out and wrote the stage was set for stocks to rebound. This was a pretty dumb thing for me to do. It wasn't dumb because it was wrong. I'm wrong a lot. It was dumb because it...

Internet Consulting Company Putting Its New York Headquarters Up for Lease.
September 10, 2001... Byline: Eric Herman Sep. 10--Scient, the Internet consulting firm which at its peak was a defining force of Silicon Alley, is moving on. Its once-ambitious plans for New York on the rocks, Scient is about to put its corporate...

Weak Economy Persists, Federal Reserve Bank Chiefs Warn.
September 11, 2001... Byline: Judith Schoolman Sep. 11--There's no economic recovery just around the corner. Indeed, any recovery will likely be slower and less robust than originally hoped, the heads of two Federal Reserve banks said yesterday. "The...

Government Files Sex-Bias Lawsuit against Morgan Stanley.
September 11, 2001... Byline: Judith Schoolman Sep. 11--Morgan Stanley was socked with a sex discrimination lawsuit yesterday by the federal government on behalf of a former $1 million-a-year investment banker and 100 other women. The suit was filed by the...

Daily News, New York, Publishing Column.
September 11, 2001... Byline: Paul D. Colford Sep. 11--ONLINE BOOKSTORE STAYS ON THE SHELF: Nearly a year after HarperCollins Publishers and the African American portal BET.com unveiled plans to launch an online bookstore for black consumers, the ambitious...

SL Green Realty to Pay $53.5 Million for Stake in New York City Building.
September 11, 2001... Byline: Eric Herman Sep. 11--Real estate mogul Stephen Green, brother of mayoral candidate Mark Green, has bought a stake in the building that once housed the Daily News. SL Green Realty, a publicly traded real estate company with...

New York Yankees to Launch 24-Hour Sports Channel Next March.
September 11, 2001... Byline: Phyllis Furman Sep. 11--Backed by $350 million from an investment group including Goldman Sachs, the Yanks said yes to their own TV net. A 24-hour, seven-day-a-week regional sports channel called Yankees Entertainment and...

New York Developer's Empire Is Reduced to Rubble.
September 12, 2001... Byline: Eric Herman Sep. 12--Developer Larry Silverstein had long dreamed of running the World Trade Center. Now his dream and most of his real estate holdings lie in ashes. The destruction of the twin towers, 7 World Trade Center and...

New York News Media Scramble For Coverage.
September 12, 2001... Byline: Paul D. Colford Sep. 12--As newspapers and magazines scrambled to cover yesterday's events, perhaps no publication had the kind of logistical challenge facing the Wall Street Journal. Staffers had to evacuate their headquarters...

Fear, Grief Ripple Through Tourists in New York.
September 12, 2001... Byline: Michele Ingrassia Sep. 12--Many given day, New York plays host to nearly 108,000 tourists -- the equivalent of the entire population of South Bend, Ind. And yesterday, many of those out-of-towners were as shaken as the most...

Most New York Television Stations Knocked Off Air.
September 12, 2001... Sep. 12--All but one local broadcast station were knocked off the air yesterday after two jetliners struck the World Trade Center towers. The stations later overcame the complete loss of their transmitting equipment and managed to get news...

Wall Street Paralyzed As Offices Turn to Dust.
September 12, 2001... Sep. 12--Wall Street came to a screeching halt as the world's stock markets plunged seconds after the attacks on the World Trade Center. The attack on the twin towers will likely turn out to be the most costly man-made disaster the U.S. has...

Networks Lose Big Money on Commercial-Free TV.
September 14, 2001... Byline: Phyllis Furman Sep. 14--As they continue to air wall-to-wall coverage of the World Trade Center disaster, the nation's already weakened TV and cable networks are suffering major hits to their bottom lines. Broadcasters have...

Local Airports Locked Down; Man nabbed at New York Airport.
September 14, 2001... Sep. 14--New York airports were locked down under heavy security last night amid concerns of a second wave of terrorist attacks hours after President Bush, choking back tears, vowed to "lead the world to victory over terrorism." Tears...

Two New York Buildings Appear Near Collapse but Stay Upright.
September 14, 2001... Byline: Bill Hutchinson Sep. 14--Two buildings near the World Trade Center rubble appeared to partially collapse yesterday, causing rescue workers to run for cover and spreading fears that they may fall. The top 10 floors of 1 Liberty...

Some Fear Other New York Buildings Are in Jeopardy.
September 14, 2001... Byline: Eric Herman Sep. 14--The World Trade Center disaster, which brought down the city's two tallest buildings, also may have fractured a broad swath of downtown New York. Engineers and construction experts agreed it would take time...

OPINION: `New' CNN Is Impressive.
September 14, 2001... Byline: David Bianculli Sep. 14--Like every TV news operation, Cable News Network is devoting all its resources to covering the World Trade Center and Pentagon terrorist attacks and their aftermath. Where CNN stands alone is in doing...

Museums Open Again in New York.
September 14, 2001... Byline: CELIA McGEE Sep. 14--Through eyes singed by horror and dimmed with tears, New Yorkers can again look to the city's museums and galleries for some comforting distractions. Cultural institutions that closed because of the World Trade...

Companies Struggle to Cope with Disruptions.
September 15, 2001... Byline: Nancy Dillon Sep. 15--Companies nationwide are coping with unprecedented disruptions and service changes in the aftermath of Tuesday's terrorist attacks. From factory closures at General Motors to merchandise shipments stalled...

Displaced Firms Hit Streets in a Great Race for Space.
September 15, 2001... Byline: Eric Herman Sep. 15--Financial firms displaced from downtown went on a stampede for replacement office space yesterday. It was as if, after the slowest year in recent memory, all the city's commercial real estate activity had been...

SEC Adopts Emergency Rules to Help Stabilize Market.
September 15, 2001... Byline: Judith Schoolman Sep. 15--Amid concern that stocks could tank in panic selling when Wall Street opens for business Monday for the first time since Tuesday's terrorist attacks, the Securities and Exchange Commission adopted...

Cruise Ships Sent to Boston.
September 16, 2001... Byline: Richard Huff Sep. 16--Passengers bound for New York on five major cruise ships -- including the Queen Elizabeth II -- have been diverted to Boston because of security concerns in New York Harbor. The ships were sent north after...

Downtown New York Retailers Start Getting Back to Business.
September 16, 2001... Byline: Michele Ingrassia Sep. 16--Marc Jacobs' shop on Bleecker St. is normally the epitome of downtown consumerism -- hip, understated and not at all cheap. But yesterday, as retailers and restaurateurs in lower Manhattan struggled...

Government Lends Crippled Firms a Helping Hand.
September 17, 2001... Byline: Russ Buettner Sep. 17--City and state officials have launched a crusade to help businesses pounded by last week's terrorist attack and keep them from leaving the city. Businesses in need range from Morgan Stanley, one of the...

Soggy Mail Piles Up at Post Office.
September 17, 2001... Byline: Judith Schoolman Sep. 17--Tons of sodden mail, soaked by sprinklers and fire hoses and destined for 1,200 companies in the World Trade Center, are sitting undelivered in a damaged post office across the street. Mail delivery in...

Businesses Can Tap from Ranks of Jobless in New York.
September 17, 2001... Byline: Nancy Dillon Sep. 17--As downtown businesses struggle to resume operations, local staffing services are gearing up to help. The grim reality is that a number of firms are restoring routine functions even amid the grieving for...

Media Stocks Plummet amid Low Advertising Expectations.
September 17, 2001... Byline: Phyllis Furman Sep. 17--Media stocks got slammed yesterday as investors bet advertising spending will dry up in the wake of last week's terrorist attacks. The nation's leading media and entertainment companies, saw their...

A Dismal Return Seen for Stock.
September 17, 2001... Byline: Judith Schoolman Sep. 17--Wall Street braced for a drubbing this morning after its longest hiatus since the Great Depression. Amid calls to shore up the nation's stock market -- from informal e-mails to new regulations from the...

Rebuilding Twin Towers Is on Table.
September 17, 2001... Byline: ERIC HERMAN Sep. 17--While rescue and cleanup efforts continue, a growing chorus is calling for the twin towers to be rebuilt. City Council Speaker Peter Vallone added his endorsement yesterday, proposing a mayoral commission...

Wall Street Ready To Get Going Again.
September 17, 2001... Byline: Judith Schoolman Sep. 17--At 9:30 this morning, Wall Street comes back to life. After two minutes of silence for the thousands killed or still missing after Tuesday's terrorist attacks, a group of firefighters, police and...

Systems Are Go as Wall Street Gets Ready to Reopen.
September 17, 2001... Sep. 17--Wall Street threw the "ON" switch yesterday for the first time since Tuesday's terrorist attacks, testing the millions of phone and computer lines that connect the New York Stock Exchange, the Nasdaq and the rest of the Financial...

Airline Stocks Hit the Hardest.
September 18, 2001... Byline: Nancy Dillon Sep. 18--Airline stocks were by far the biggest losers on Wall Street yesterday. All top five U.S. carriers lost at least a third of their market value in the first day of trading since terrorist assaults crippled...

Daily News, New York, Publishing Column.
September 18, 2001... Byline: Paul D. Colford Sep. 18--One new book generating a surge of media attention and sales since last week's terrorist attacks is "Germs: Biological Weapons and America's Secret War," written by three New York Times staffers. The...

New York Officials Try to Keep Companies in the City.
September 18, 2001... Byline: Eric Herman Sep. 18--Sen. Charles Schumer huddled with the city's real estate titans yesterday, pledging part of a $20 billion federal aid package to incentives that would keep companies from fleeing New York. "I am willing to...

White House Promise of Aid Package Gives Airline Stocks Small Boost.
September 19, 2001... Byline: Nancy Dillon Sep. 19--Airline stocks lifted off yesterday's staggering lows after top industry brass went to the White House seeking an estimated $24 billion. American's Donald Carty, United's James Goodwin and six other...

Book Retailers, Publishers Hope for Rebound; Attacks Inspire Reader Interest.
September 19, 2001... Byline: Paul D. Colford Sep. 19--On the day terrorists struck, sales at Barnes & Noble's superstores plunged to half the level of a year earlier. By last weekend, they had shown a remarkable recovery -- a 4.5 percent increase. The...

Attack-Related Messages Flood Internet in Aftermath.
September 19, 2001... Byline: Rachel Scheier Sep. 19--"Hi my name is Holly. I'm very sorry for all your losses. I would love to be there to help but I'm only 14 and I live in Alabama. Things will get better I promise..." Posted last week on the Disaster...

Lawsuits Loom in Aftermath of Terrorist Attacks.
September 19, 2001... Byline: Robert Gearty Sep. 19--Thousands of lawsuits for billions of dollars beyond the cost of any lost property or buildings loom in the aftermath of the World Trade Center disaster. Plaintiffs' lawyers already have been contacted by...

Displaced New York-Area Businesses Struggle to Find Places to Operate.
September 19, 2001... Byline: Eric Herman Sep. 19--Across the tri-state area, companies displaced by the World Trade Center disaster are struggling to find places to keep business going. Last week's attack displaced some 14,000 businesses at least...

American, United Airlines to Lay Off 20,000 Workers Each.
September 20, 2001... Byline: Nancy Dillon Sep. 20--With commercial airlines continuing to push for federal help, American and United said yesterday there each were shedding 20,000 workers. Following last week's terrorist attacks, many major airlines have...

In Long Run, Consumers to Pay Price for Insurance Companies' Post-Attack Woes.
September 20, 2001... Byline: Rachel Scheier Sep. 20--Insurance companies far and wide are crying about the staggering cost of last week's World Trade Center disaster, but experts say the long-term losers could be consumers. While insurance stocks might...

Lawmakers Iron Out Airline Relief Package As Industry's Stocks Suffer.
September 21, 2001... Byline: Nancy Dillon Sep. 21--Airline stocks took another hit yesterday as lawmakers were working out a downsized industry relief package, even as carriers continued to scale back operations. Congressional leaders did agree on an...

Disney Stocks Take Another Hit.
September 21, 2001... Byline: Phyllis Furman Sep. 21--Battered Disney took another blow yesterday after a major investor sold off a big chunk of the company's stock. The entertainment giant plummeted to $15.50 -- its lowest level in six and a half years --...

Greenspan Suggests Fed May Take Aggressive Steps to Help Economy.
September 21, 2001... Byline: Judith Schoolman Sep. 21--Amid economists' predictions the U.S. is entering a recession, Fed chairman Alan Greenspan hinted aggressive moves by the central bank would be in store to help the economy that "ground to a halt" after...

Estimated Post-Attack Cost for Insurance Companies Goes Up to $73 Billion.
September 21, 2001... Byline: Rachel Scheier Sep. 21--As insurance companies continued to tally up the devastation of the World Trade Center disaster, the price tag could be at least double what they thought -- as much as $73 billion. The world's two...

New York Giving Up Hope of Finding Survivors.
September 25, 2001... Byline: Elisa Ung Sep. 25--NEW YORK--Mayor Rudolph Giuliani suggested gently Monday that hope of finding survivors in the World Trade Center's rubble had ended. He announced that kin of the 6,473 missing could apply for death...

New York-Area Banks Help to Track Down Suspected Terrorist Activity.
September 25, 2001... Byline: Judith Schoolman Sep. 25--Notice to banks: follow the money. After President Bush launched a "strike on the financial foundation" of terrorists yesterday, banks started searching for assets of 27 individuals and groups...

New York Times Building Project Won't Help Current Need for Office Space.
September 25, 2001... Byline: Eric Herman Sep. 25--The New York Times' new headquarters would add much-needed office space to the city's skyline, but it won't be ready any time soon. Despite the desperate need for office space, The Times project wouldn't...

Office Tenants Displaced by Attacks Flood Commercial Real-Estate Market.
September 25, 2001... Byline: William Sherman Sep. 25--More than five million square feet of new office space, the size of one of the World Trade Center towers, have been booked by commercial tenants displaced by the terrorist attacks. It's an unprecedented...

Oil Prices See Big Drop.
September 25, 2001... Byline: Nancy Dillon Sep. 25--Oil prices had their biggest fall in a decade yesterday, thanks to global recessionary fears and the belief OPEC won't choke supplies in the event of U.S. military action. For consumers, lower crude oil...

Consumer Confidence Hits Five-Year Low in September.
September 26, 2001... Byline: Judith Schoolman Sep. 26--Amid fears of job losses and economic turmoil following the Sept. 11 attacks, consumer confidence fell this month to a 5-year low -- the biggest monthly slide since the Gulf War. Still, on Wall Street...

New York-Area Banker Faces 30 Years in Jail, $1 Million Fine.
September 26, 2001... Sep. 26--UBS banker and Tarrytown castle owner Hanspeter Walder has been indicted for using phony documents to scam $70 million from affluent clients. Walder, 58, was in custody yesterday after allegedly confessing he used forged loan...

Daily News, New York, Media Column.
September 26, 2001... Byline: Phyllis Furman Sep. 26--The news keeps getting worse for the nation's top media companies, now facing a multibillion-dollar hit to their lifeblood -- advertising. The fallout from the Sept. 11 terrorist attacks continued...

Videoconferencing Industry May See Windfall.
September 26, 2001... Byline: Nancy Dillon Sep. 26--As businesses curb air travel in the wake of this month's suicide hijackings, one industry poised for an unexpected windfall is videoconferencing. Use of videoconferencing, which simulates face-to-face...

Declines Erode Profits for Wall Street Brokerages.
September 27, 2001... Byline: Judith Schoolman Sep. 27--Falling stock markets and economic weakness pulled down profits of Wall Street's biggest brokerages by more than 40 percent amid warnings of further declines due to the economic impact of the terrorist...

Delta Succumbs to Pressure to Cut Jobs.
September 27, 2001... Byline: Nancy Dillon Sep. 27--Delta Airlines yesterday became the last of the big six airlines to cut jobs and dump flights because of the terrorist attacks. The third largest domestic carrier, Delta said it would lay off up to 13,000...

Treasury Secretary Fears Economic Rebound May Have Three-Month Lag.
September 27, 2001... Byline: Judith Schoolman Sep. 27--The Sept. 11 attacks so shocked the economy that a rebound will take at least three months more than earlier thought, Treasury Secretary Paul O'Neill said yesterday as more economic forecasters said the...

Consumer Groups Express Concern about Microsoft's Windows XP System.
September 27, 2001... Byline: Rachel Scheier Sep. 27--A coalition of consumer groups yesterday asked the government to get tough with Microsoft, voicing concerns about the company's soon-to-be-released Windows XP system. In a letter to the Justice...

New York Agency Follows Mayor's Lead, Offers Office Space.
September 27, 2001... Byline: Eric Herman Sep. 27--Mayor Giuliani played real estate broker in the days following the Trade Center attack, offering 25 floors of prime city office space to companies displaced by the disaster. Now another government agency --...

Number of New Yorkers Lining Up for Unemployment Rises 60 Percent.
September 28, 2001... Byline: Nancy Dillon Sep. 28--The number of New Yorkers lining up for new unemployment benefits surged an estimated 60 percent last week, a spike largely attributed to post-attack worker displacement. Nationally, the number of newly...

New York City's Hotels Slashing Rates to Lure Tourists.
September 28, 2001... Byline: Eric Herman Sep. 28--So much for "Autumn in New York." With travelers leery of flying and frightened by the possibility of war, the city's hotels stand half-empty when they are usually full. Many hotels have slashed rates to...

Daily News, New York, Publishing Column.
September 28, 2001... Byline: Paul D. Colford Sep. 28--Tom Rogers, chairman and CEO of Primedia, showed confidence in his company the other day by revealing he recently bought about $1 million of its stock. He'll have to draw deep from that faith, after a...

Attacks Hit America's Rich in the Wallet.
September 28, 2001... Byline: Eric Herman Sep. 28--When terrorists knock stock prices down, even the rich lose money -- and plenty of it. According to Forbes magazine's newest list of the 400 richest Americans, 50 members of the elite group lost $44 billion...

Government to Help Small Businesses Hit by Attacks.
September 28, 2001... Sep. 28--Uncle Sam is extending a helping hand to small businesses reeling from the calamity that hit the once-thriving surroundings of the World Trade Center. Hector Barreto, chief of the federal Small Business Administration, visited...

Magazine Groups Decide to Hold Convention in New York Instead of Arizona.
September 29, 2001... Byline: Paul D. Colford Sep. 29--Propelled by convenience and national pride, a growing number of top professional organizations have scrapped out-of-town convention plans in favor of New York. Citing a slowdown in reservations and a...

Stocks Pick Up at End of Bleak Third Quarter.
September 29, 2001... Byline: Judith Schoolman Sep. 29--Stocks rallied as investors closed their books on the worst quarter on Wall Street since the crash of '87. Buying stocks that had been beaten down in the days following the Sept. 11 attacks, traders...

Officials in New York Warn of Tax Revenue Downfall after Terrorist Attacks.
September 29, 2001... Byline: Nancy Dillon Sep. 29--New York officials are predicting a plunge in tax revenues following the Sept. 11 terrorist attacks, putting the squeeze on state and city budgets. The state's Division of Budget said this week that the...

Viacom-Owned CBS Determined to Hold Ad Prices Steady.
September 30, 2001... Byline: Phyllis Furman Sep. 30--CBS is continuing to sell ads at solid prices, despite an industrywide ad slump following last month's terrorist attacks. The Viacom-owned network has been widely criticized by analysts for a risky...

Terrorist Attacks Add to U.S. Economic Woes.
September 30, 2001... Byline: Judith Schoolman Sep. 30--Beyond the staggering human toll, last month's terrorist attacks landed a sucker punch to Wall Street, the economy and corporate profits, all of which are expected to feel the after-shocks for at least the...

Internet Magazine Industry Shrinks Rapidly as Many Publications Fold.
September 30, 2001... Byline: Paul D. Colford Sep. 30--Time Inc., the last publisher to join the Internet party, may be the only one to emerge without a hangover now that shrinking tech advertising can no longer sustain a crowd of magazines. The Fortune...