Word: hike
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...Johnson's brief tale, but our sense of its cultural moment will persist. A time of exhilaration and confusion, when scurrying professionals with Palm Pilots checked their portfolios from speeding cabs. When 24-year-old bosses in baggy khakis told 50-year-olds in pressed suits to take a hike. The cheese will be somewhere else in 10 years, but its faintly moldy odor will linger...
Never mind Wall Street; Alan Greenspan wants Main Street to tone it down a bit. Greenspan issued another rate hike on Tuesday, a quarter-percent rise that brings the Fed's short-term interest rates to 6 percent - a five-year high. For a change, neither the NASDAQ nor the Dow flinched; traders have expected the hike for weeks. If Greenspan's plan works, the rate hike (and the two or three additional increases expected in coming months) will have a three-faceted impact on slowing consumer spending, aaccording to a plan outlined last month in the Fed chief...
...growth rate, this group believes that the gradual rate increases are being ignored by the public - a state of affairs that could eventually result in a mass loss of confidence when the market wakes up and sees the impending effects of the rate rises. Instead, they say, Greenspan should hike rates by one percent and shock the market to its senses in one fell swoop...
...easy play will be a bank stock fund because the whole group will move. If you're worried about missing it, start nibbling soon--but not before the next Fed hike. Stock pickers should look for banks and thrifts in growth regions like the South and West and with diverse income streams. Tom Theurkauf, analyst at Keefe Bruyette Woods, likes Washington Mutual and Fleet Boston. Scott Black, president of Delphi Management, likes North Fork and Peoples Heritage. Among larger banks, Chase and Bank of New York look attractive. But beware banks with operating difficulties, like First Union and Banc...
Crew leaders supervise small groups of 16 to 24-year-olds on conservation projects throughout the Green Mountain State. This isn't a nature hike--work projects typically include stream bank stabilization, trail maintenance, bridge construction and carpentry...