Word: dows
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Dates: during 1990-1999
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...Dow Jones industrial average checked in for cosmetic surgery last week and had four stocks liposuctioned from its bottom end. Is it time for a face-lift too? The "industrial" description is starting to look a little odd atop this svelte new body. Maybe it should be renamed Dow Lite...
...course, no name change is really forthcoming. The Dow keepers--editors at the Wall Street Journal--have been softening the average's smokestack image for years, and no one seems terribly confused. Still, it's notable that today only half the Dow companies are true metal benders, a testament to sweeping changes in the economy during the past few decades...
...Dow has consisted of 30 stocks since 1928, and for most of this century most of those companies were in heavy industry, reflecting the times. But as we've moved from the industrial age to the technology-and-information age, the nature of industry has changed radically. In 1959, for example, manufacturing accounted for 28% of gross domestic product, vs. 17% today. Meanwhile, health care has grown from 3% to 11%, and financial services from 14% to 18%. Since the 1980s the Dow keepers have been scrambling to reflect such developments. So in the '80s American Express and McDonald...
...later unless the central bank acts soon. Greenspan specifically linked his concerns to recent reports showing unexpected strength in such areas as retail sales and job growth, which has many convinced he's ready for an increase. Stocks fell on the announcement, but not by all that much -- the Dow finished down 57.40 points, while the Nasdaq actually reversed its recent slide -- because most analysts had been expecting the move. Other economists said Greenspan would be making a mistake to raise rates, noting new trade figures showing January's overall deficit the worst since 1992. The trade gap with China...
...Wednesday for libeling a now defunct brokerage. The fine, the largest libel award ever handed down, stemmed from an article written by Journal reporter Laura Jareski that Money Management Analytical Research of Houston claimed contained false information and helped put it out of business. The seven person jury ordered Dow Jones & Co. which publishes the Journal, and Jareski to pay $22.7 million in actual damages, plus $200 million in punitive damages. A lawyer for Dow Jones said he would ask U.S District Judge Ewing Werlein to throw out the decision...