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...stocks are finally near the bottom, which is the emerging consensus, a lot of market truisms fall neatly into place. Sure enough, in the end bear markets leave no places to hide. "Safe" havens like Coca-Cola and Philip Morris crashed more than 20% as the Dow plunged in June and July. Sure enough too, the collective wisdom of the market understands recessions better than the economists. Last week's revised figures show the economy contracted in not just one but three quarters last year. That deep pullback helps explain why the market began tanking in 2000, when economists were...
...refining his style, it must have galled him that some of his later, minor singles were remakes of songs by his old rivals and traveling companions: Little Richard's "Good Golly Miss Molly," Chuck Berry's "Little Queenie" and "Sweet Little Sixteen." Yet Lewis was not one to hide; if the gigs paid a few hundred dollars instead of the thousand he once earned, he was man enough to show up. He had some country hits in the '60s, and in 1968 played Iago in the L.A. production of an "Othello" musical called "Catch My Soul"; he spoke the lines...
Shyamalan is a poet of grieving. His movies dwell in bruised hearts and work deftly to find stirrings there. At times he surrenders to a few horror-film tropes (an army of monsters may be chasing us - let's hide in the cellar!). But Signs is, after all, a chamber piece, handsomely acted by its small cast, in which two sets of siblings must learn to be their brother's keepers. This makes the film a sober, superior thriller. - By Richard Corliss...
...most recent fusillade came from the U.K., where a former Commission employee went public with a series of allegations about accounting mismanagement and a "cover-up'' to hide the problems. Marta Andreasen, 48, a professional accountant hired in January to modernize controls over the j98 billion E.U. budget, insisted she was forced to sign off on expenditures that could not be confirmed. "Unlike the issues surrounding Enron and WorldCom, where you can at least trace transactions and accounts, you cannot do so within the E.U. accounts as there is no system in place for tracing adjustments and changes to figures...
...France's Peugeot joined in a ?750 million alliance to develop and build motors for their smaller cars. The venture could turn out 1 million engines annually. Spanking The Banks U.S. Senate investigators testified that Citicorp, the top U.S. bank, and J.P. Morgan Chase helped Enron hide more than $8.5 billion in debt. Canal Plus (Or Minus) In his first move to reduce Vivendi's ?19 billion debt, new CEO Jean-René Fourtou will separate Canal Plus into a new company and sell the rest of its pay-TV unit. INDICATORS A Family Affair Think your family reunions...