BIZWATCH : MARKETS.MARKET LOGIC: 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. fell 51.18 to 6,549.48 after spending much of the day slightly below Tuesday's record-high close, which was the first ever above 6,600 for the blue-chip barometer. MEMO TEXACO TEXACO The Texas Company PUNISHES EMPLOYEES: Texaco fired one executive, kept another on suspension and dropped benefits for two retirees Wednesday for their secretly recorded comments degrading minorities and suggesting that lawsuit documents be destroyed. The retirees include Richard Lundwall, the executive who made the tapes and released them to plaintiffs in the race-discrimination lawsuit. Texaco, facing the threat of a boycott after the tapes were made public, quickly settled the case for $176 million. MORE DISNEY ON TV: Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. is developing a children's cable network as part of a push to dominate children's television programming, said Disney/ABC Cable Networks chief Geraldine Laybourne Geraldine Laybourne founded Oxygen Media and has served as its chairman and chief executive officer since its inception. Oxygen was launched in 2000 to fill a void in the television landscape -- creating a television network targeted to younger women. . Disney's ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. unit also will launch three Saturday morning cartoons next fall aimed at children: ``Pepper Ann Pepper Ann is an animated series created by Sue Rose and shown in the United States on ABC. It debuted in 1997. Pepper Ann starred cartoon adolescents and charted their ups and downs at Hazelnut Middle School. ,'' ``Recess'' and ``101 Dalmatians.'' Laybournedidn't give further details about how much Disney is spending, when the channel will be rolled out or what shows will air. NEW SANTA ANITA Santa Anita may refer to:
JETS ON HOLD: With a pilots union overwhelmingly rejecting a contract offer from American Airlines, the carrier said a deal was off - at least for now - to spend $6.6 billion on new Boeing jets. The Allied Pilots Association, which represents some 9,000 American pilots, said Wednesday that the contract was turned down with 61 percent of the vote against the agreement. The four-year contract proposal reached in September offered modest pay increases and would have allowed American Eagle, American's commuter affiliate, to fly small jets with pilots represented by another union. American insisted ratification was essential to proceed with the purchase of 103 new Boeing jets. CAPTION(S): 2 Charts Chart: (1--color) DOW INDUSTRIALS (2--color) BIZ FACTS FUND FACTS Distribution of total net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. in mutual funds, by sector, 1995 SOURCE: Mutual Fund Fact Book; research by Pat Carr Knight-Ridder Tribune Graphics Network |
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