BIZWATCH : MARKETS.MARKET LOGIC: Stocks followed bonds downward Monday as a report showing strong demand for automobiles aggravated worries about inflation. Trading was light with investors bracing for clearer signals on the economy in this week's key report on May employment and wages. The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , which shed about 120 points last week, was off nearly 37 late in Monday's session. MEMO AIR FUEL GOING UP: Fuel prices are leveling off for consumers at the pump, but in the air they're starting to rise. On Monday, American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the Cargo said it would impose a 4.3 percent fuel surcharge effective July 1 on U.S. domestic cargo and priority parcel service charges. Last month, Hawaiian Airlines Hawaiian Airlines is the 11th largest commercial airline in the United States. It is the largest airline based in the State of Hawai'i and is commonly referred to by the acronym "HAL". , Mahalo Air are Aloha Airlines Aloha Airlines is an American airline headquartered in Honolulu, Hawaii USA. It operates extensive scheduled services within the Hawaiian Islands, and between Hawaii and the West Coast of the United States. increased inter-island fares by $2 to help cover increased fuel costs. HE SHOULD HAVE BEEN A CONTENDER: Lee Iacocca Lido Anthony "Lee" Iacocca (born October 15, 1924) is an American industrialist most commonly known for his revival of the Chrysler brand in the 1980s when he was the CEO. Among the most widely recognized businessmen in the world, he was a passionate advocate of U.S. has told Fortune magazine that billionaire Kirk Kerkorian's failed bid to buy Chrysler Corp. was a public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most fiasco but allowed he should have been more involved himself. ``The whole thing was done wrong, pure and simple,'' Iacocca said in the magazine's June 24 issue, which goes on sale June 10. Fortune released the article Monday. SPEAKING OF CHRYSLER: Chrysler Corp. sold more vehicles in May than in any other month in its history, led by an especially strong increase in car sales. Chrysler, the first of the Big Three to report May sales figures sales figures npl → cifras fpl de ventas , said Monday it sold 245,289 cars and light trucks in May, breaking its record of 236,404 set in June 1995. Chrysler also said it manufactured its 1 millionth vehicle earlier this year than ever before - on May 28. INTEREST PEAKED: Interest rates on short-term Treasury securities rose in Monday's auction to the highest level since late last year. The Treasury Department sold $14.6 billion in three-month bills at an average discount rate of 5.09 percent, up from 5.03 percent last week. Another $14.7 billion was sold in six-month bills at an average discount rate of 5.21 percent, up from 5.14 percent. THEY OBJECT: The Agriculture, Justice and Transportation departments objected to the proposed Union Pacific-Southern Pacific railroad The Pacific Railroad is a defunct U.S. railroad. It was a predecessor of both the Missouri Pacific Railroad and St. Louis-San Francisco Railway. The Pacific was chartered by the U.S. state of Missouri on March 3, 1849. merger on grounds it would reduce competition and raise prices. In the toughest comments, the Justice Department estimated the deal could cost consumers $800 million a year in higher prices and urged a federal panel to kill the merger as too flawed to remedy. The departments on Monday filed their final recommendations with the Surface Transportation Board, a Transportation Department division that succeeded the Interstate Commerce Commission Interstate Commerce Commission (ICC), former independent agency of the U.S. government, established in 1887; it was charged with regulating the economics and services of specified carriers engaged in transportation between states. and has authority to approve or reject the merger. RANDOM ACCESS A PRETTIER PRICE: Eastman Kodak Co. said Monday it would soon sell a digital camera for just $350, less than half the price of its current models. The Kodak DC20 camera will be available in computer stores later this month. It has enough memory to hold eight to 16 color pictures, depending on the level of resolution a person chooses. Pictures from the camera are transferred through a standard cable to Apple Macintosh Apple Macintosh - Macintosh or Windows-based personal computers, where they can be stored, printed, edited or erased. Kodak is including several editing programs with the camera. CAPTION(S): 2 Charts, Photo Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZFACTS MADE IN CHINA China is the world's largest manufacturer of bicycles. Production, in millions of bikes, 1994 Knight-Ridder Tribune Graphics Network Photo: (Color) No caption (Cover of Fortune magazine featuring Lee Iacocca) |
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