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Enron Mail |
======================== THE MOTLEY FOOL ======================== B R E A K F A S T N E W S Thursday, September 20, 2001 benjamin.rogers@enron.com ================================================================= IN THIS ISSUE --------------------- - TOP STORY: Government Accelerates Aid to Airlines http://www.fool.com/m.asp?i=499856 - NEWS TO GO: Knight-Ridder, 3Com, Tenet Healthcare http://www.fool.com/m.asp?i=499857 - POST OF THE DAY: Biotech Stocks Anyone? http://www.fool.com/m.asp?i=499858 ================================================================= SPONSORED BY: ShareBuilder Buy stocks for just $3! Make dollar-based investments in the stocks and index shares you choose for just $3 per transaction. Or, pay $8 per month for unlimited stock buys. http://www.lnksrv.com/m.asp?i=499859 "Troubled times produce heroes." -- Chinese proverb ----------------------------------------------------------------- TOP STORY ----------------------------------------------------------------- GOVERNMENT ACCELERATES AID TO AIRLINES While Congress works on legislation that will provide financial aid to airlines, President Bush will ask lawmakers to hand over $5 billion in immediate cash to the shell-shocked industry. The Associated Press, quoting an anonymous administration official, says the cash would be coupled with help for the airlines' insurance liabilities. The House of Representatives hopes to rush through a $24 billion aid package that will be quickly sent to the Senate, and could possibly reach the president's desk before next week. That package would include loans as well as some cash that would not have to be repaid. Continental Airlines (NYSE: CAL) CEO Gordon Bethune says the industry is currently losing $15 million per hour, and the package is needed to restore some stability to the situation. In the meantime, more airlines announced staff reductions after the market closed yesterday. First, Mesa Air (Nasdaq: MESA) said it would cut 700 jobs and implement a temporary 10% pay reduction for most employees. Senior management's pay has already been reduced by 20%, and both the CEO and the company's president took a 50% cut. Later, heavyweights American Airlines parent AMR Corp. (NYSE: AMR) and United Airlines parent UAL (NYSE: UAL) announced layoffs of some 20,000 employees each. That represents 14% of American's staff, and 20% of United's. Following Boeing's (NYSE: BA) actions Wednesday, job cuts now total almost 100,000 people industry wide. http://www.fool.com/m.asp?i=499860 One company bucking the layoff trend, however, is SkyWest Airlines (Nasdaq: SKYW). COO Ron Reber says no layoffs are in the works. The company's "plans for growth are still intact," he says, and it still plans to take delivery of the 106 Canadair Regional Jets it ordered from manufacturer Bombardier. SkyWest operates as United Express and Delta Connection in 74 cities. <<FULL STORY: http://www.fool.com/m.asp?i=499861 ----------------------------------------------------------------- NEWS TO GO ----------------------------------------------------------------- Media companies have also been adversely affected by the terrorist attacks. Knight-Ridder (NYSE: KRI) and Tribune Co. (NYSE: TRB), which teamed up in August to acquire online job recruitment site Headhunter.NET (Nasdaq: HHNT), both came out with bad news after the bell yesterday. Knight-Ridder CEO Tony Ridder says many advertisers pulled ads after the attacks, and, combined with the increased expenses due to extended coverage of the tragedy, he expects about a 25% year-over-year drop in earnings per share. Citing the same reasons, Tribune expects third-quarter and full-year earnings to come in below expectations. http://www.fool.com/m.asp?i=499862 The Securities and Exchange Commission says it doesn't yet know if those associated with last Tuesday's hijackings also exploited the markets in order to profit from the attacks. The agency says it's "vigorously pursuing all credible leads," but wouldn't release any other details. Networking equipment maker 3Com (Nasdaq: COMS) reported fiscal first-quarter results that saw revenue fall 58% from the same period last year. The company also "found opportunities" to reduce staffing by another 1,000 people and expects to end the quarter with 6,000 workers. It employed 12,000 last November. The nation's number-two hospital operator, Tenet Healthcare (NYSE: THC), says it will top estimates when it releases fiscal first-quarter earnings on Oct. 3. Its expected earnings per share of $0.65 - $0.67 would represent 35-40% growth over last year. Rex Moore's mental acuity has shown a 3%-5% year-over-year decrease, though it's up inconsequentially sequentially. At press time he held no positions in any of the companies mentioned in this article. The Motley Fool is investors writing for investors. http://www.fool.com/m.asp?i=499863 ----------------------------------------------------------------- POST OF THE DAY ----------------------------------------------------------------- BIOTECH STOCKS ANYONE? "I think the safest long term Biotech offerings are the larger pharmaceutical manufacturers who are very active in R&D and or acquisitions AND are diverse in their product markets." <<FULL POST: http://www.fool.com/m.asp?i=499864 ================================================================= SPONSORED BY: ShareBuilder Buy stocks for just $3! Make dollar-based investments in the stocks and index shares you choose for just $3 per transaction. Or, pay $8 per month for unlimited stock buys. http://www.lnksrv.com/m.asp?i=499865 ================================================================= My Portfolio: http://www.fool.com/m.asp?i=499866 My Discussion Boards: http://www.fool.com/m.asp?i=499867 WANNA TAKE THE SHORTCUT? Check out our new Crash Courses, the fastest way to get your finances in order. Get results in less than an hour, for just $10. Try one today! http://www.fool.com/m.asp?i=499868 PERKS FOR FOOLS ONLY Get free stuff and special offers, just for you! http://www.fool.com/m.asp?i=499869 CUSTOMER SERVICE Ask our staff for help with email delivery problems. http://www.fool.com/m.asp?i=499870 UNSUBSCRIBE Here's how to unsubscribe or change your settings. http://www.fool.com/community/freemail/freemaillogin.asp?email=benjamin.rogers@enron.com _________________________________________________________________ Copyright © 1995-2001 The Motley Fool. All rights reserved. Legal Information: http://www.fool.com/m.asp?i=499871 MsgId: msg-9754-2001-09-20_10-29-50-3779074_2_Plain_MessageAddress.msg-10:31:06(9-20-2001) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: benjamin.rogers@enron.com
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