H UBIN EBB THE KANSAS CITY STAR. Saturday, March 24, 2001-
AMC pulls out
Siock
experts
predid
of trade group
a period01wariness
company in the United States ,in
Company offers terms of revenue and the second-
little explanation largest in terms of number of
screens.
for Withdrawal AMC's founder, Stan Durwood,
mentality out there' as a buyers' last-minute spate ofbuyingThurs-
who died in 1999, was honored by By AMY BALDWIN
By JENNIFER MANN the otga.nization in 1996 as its Man The Auoeteted. P,es. strike," said Thny Cecin, a trader for day managed to keep the Dow
The Ken.a. City Sta, of the Year for his pioneering ways U.S. Bancorp Piper Jaffray. ~'People from closing in bear m3rlcet territo-
in the industry. NEWIDRK.- When the Dow are going to keep their hands in ry - chamcterized by a 20 percent
In a move that caught some peo- "We were surprised and disap- Jonesindustrialsskiddedinto bear their pockets until they see the sun drop from its Jan. 14, 2000, high of
ple in the movie industryoff-guard, pointed," sirld John Fithian, execu- m3rlcetterritorythis eek,the mes-
w shining again" , 11,722.98.
AMC Entertainment Ine. has with- tive director of the otga.nization- sageonWallStreetwasclear:There No one on Wall Street is forecast- That late ra11ycontinued into Fri-
drawn from the exhibition indus- known in the industry as NATO- are no safe harbors in the stock ing anything but gloom for the day, when the Dow rose 115.30 to
try's trade and lobbying organiza- which learned of the move in a Jet.. market foreseeable future. But what else 9,504.78. But analySts say stock'
tion, the National Association of ter sent last week. "You'll have to What's more, market watchers can be expected if even the pillars prices won't be able to put together
Theatre Owners. ask AMG for their rationale and say, inveStors might as we1lhunker of corpomte Ameri"" are suffering? a sustained advance, simply be-
AMC had been an important, reason." down and settle in. It could be a Thking a beating simiJiu: to what cause the problems that incited the
longtime member of the organiza- ButAMC wasn't tipping its hand longtime before Stocks moVe high- tech stoCkspreviously endured, the latest selloff are still weighing on
tion, and its place in the industry is e&, . DowpJunged 1,139.84, or 10.7 per-
clear: AMC is the largest exlnbition SeeAMC;C-Z "There isn't sO much a sellers' cent, in the past two weeks. ()nly a See STOCKS,C-3
I H E ~M 0 R N I N G M E M 0
More MQlorofa culs The Financial Times reported
Thursday that Diageo had asked
'Motorola Inc., the' world's sec- investment bankers Goldman
ond-largest mobile phone maker, Sachs to seek bidders for Guinnes8
is cutting 4,000 more jobs, bringing Worlil Records, which tracks every-
the total eliminated companywide 1:1ingfrom the world's busiest rail-
since December to 22,000, or 15 way to the world's hairiest family.
, P~~l;!t 'of its ~ Rise in Red Hal
woi:k force. ~ ' Molorllla'
Motorolaof-. ' NEW YORK - Investors cele-
ficlals oil Fri" :~";eper share brated Red Hat Ine.'s fourth-quar-
day refused to ter break-even mark - on an ad-
rule out fur- 30 justed basis - by pushing the lin-
ther layeffs, ux opemting system company's
saying, sales stock up by as much as 30 percent
are tlatandthe Friday.
Cuts are need- 15 ,Red Hat shares closed Friday at
e~Uorlt t?re- ' $5.88, up 66 rents, or 12.6 percent
, 'n!IIjn c(j1"Peli, on the Nasdaq stock mai:ket. In the
tive in 'a slow- '~i23 past 12 months Red Hat lost $76.6
ing economy. million on revenue of $70 million. ;
The latest cuts For fiscal 2002, Red Hat execu- : '
are in Motorola's networks sector, tives predicted opemting earnings:
which was created ,in January to of$17.4 million, or 10 cents a share,
above the consensus of 4 cents.
.
. pIm'id~ broadband and wireless
'GPnm>pnications p~oducts and
~.
Red Hat said it would be difficult
to increase its 70 percent .Linux
Mot<;>fOIa's stock closed Friday at market share. Red Hat's sUbscrip-
JULII!JACOIlSO~IThe~ CIty81M $i5.ffi!iUp31 cents and well off its tion sales declined to $11.8 million
Paul H. Levy (centerJ'andi::an:yWaSltIngton (rIgbt), SZ.weekhigh of$56.25. from $13.2 in the third quarter.
t"""1ed,up with Eddie Tapper on this Habitat for
,
Newphone-bill
lee
Design H~tYhou8e. . ,
Boeingjobsmoving
,
Boeing Co. will move hundreds NEW -
YORK Moving trim
to
ofaircraft production jobs from its costs, NJ:&TcOrp. will start charg-
Rento!>, Wash., plant to Its factorying customers an extra $1.50 a
in Wichita by transferring its 757 month if they want tp continue re-
fuselage assembly work. The com- ceiving their long distance billwith
pany said that the move would their local phone bill.
take two orthree years and that the AT&T, the nation's largest
for every£lI!~nofinllatiom affected workers would be offered
other jobs in the company.
At a news conference, company
provider oflong-distance service,
began sending notices to its cus-
tomers earlier this month of.the
promoting a new home design wheelchalrs or, have physical officials confirmed the move but cbange in policy. effective April 1.
By MARK P. COUCH
The Kan.a. City St.. that aims to eliminate many of constmints.' . said the bulk of its commercial air- Customers can avoid the charge
those threats and create a suchhouseshave widerhall- plane building would remam in by requesting that their bill be de-
home that Is comfortable for the Seattle area.
D
angers lurk in many ways and dqorways, larger livered sepamtely or by paying on-
corners of th e typi- all. hathroOiriS, lowt!r c:XmnterOps, ~,pein&j?resldent and Chief Exec- line.
,
calhouse.
, "Everything ab?ut uDiversai higher,electrical'outlets"eleVat- ,!1tive~ Mulallysought tareas- Sprint Corp., the nation's third-
' StaiIways, slippery
, design is right for everyone," ed appliances andseVem1 other sure employeesand area residents largest long-distance company. in-
bathtUbs, floor4eveI said Eddie'Tapper, project modifications. " made~ byIIoeing'sannoimce- troduced the same fee in January.
appliances and out- manager for Rosemann & As- ,The cl1angeScanaddtibout 3 me!>ttwo days earlier that it will
,of-reach shelves all pos~ physi- sociates, a Kansas City arch!- peJ:!'ent,to, the'<:ost'of cQ!>- ~Q1"I~ headqulrters awayfrom
AT&T
addsprovider
cal risks that tnOst people don't tecturafirm. stru~anew ~use. Taj!per t!te.tltywheie It was founded in NEWYORK-NJ:&T Corp. said
think about until they slip and The movement; called uni- said. mai!Ily~eoftheex- I~I6. ;:fj°ei!:>gemploys nearly Thursday itwill spend $135 million
fall or tWisttheir backs. verSal design, origirndly aimed 1m space 'lt$ired m ~ l?i!-th- BO"poD Vi"riq!rs the Seattlearea,
in to buy nearly all the assets ofbank-
Advocates' for pooplewith to providebouses thatmet the most in Its Jetliner Division, and mpt Internet service provider
physical disabilities 'are now living needs of people who use 17,000 Wichita.
in . NorthPoint Communications Inc.
Recordsfor sale The deal was approved by a San
Francisco U.S. Bankruptcy Court
WNDON - The Guinness Book judge, but it is still sUbject to regu-
of Records is being offered for sale latory approval. Both companies
by Its owner, the food and drink sirld in a news release that the deal
cOlglomerate Diageo PLC, the Pi- sbould be completed within 60
~,7imesreported. , days.
Diageo said a spokesman was AT&T will get San Francisco-
not available to cormilent Friday. based NorthPoint's netwoi:k equip-
The book, first pUblished in 1955 ment, support software and other
as a promotion for Gliinness beer, goods, 'but, more important, it
~~._~~?~~ -~to television ~~-~~-",~~~~~a solid digital