Future Fed Fixes Foreseen
The U.S. economy may be shaking off its year-long doldrums, but enough risks remain that the Federal Reserve could decide to administer more medicine in the form of more interest-rate cuts, Fed Chairman Alan Greenspan said on Wednesday.
Greenspan told the House of Representatives Financial Services Committee the U.S. central bank has ``moved a considerable distance'' in its bid to bolster growth already with six rate reductions this year.
In his testimony and responses to the committee, Greenspan struck a cautiously optimistic note --stressing that the economy has held up relatively well in the face of global weakness. He said there was reason to expect a boost from cheaper credit and lower income taxes to kick in later in the year
Bond markets rallied on Greenspan's comments as traders interpreted them as a green light for more
interest-rate reductions, possibly as soon as the next Fed meeting.
Stock prices took about 24 hours to positively react however, as a new wave of weak earnings reports coupled with Greenspan's remarks made investors fret that companies may face a prolonged period of soft profits. Greenspan noted that ``pressures on profit margins have been unrelenting.''
Emerging Company Report; Translating the Language of the Internet
Hollywood, CA-Emerging Company Report is the nationally syndicated television program profiling emerging-growth
companies (http://www.emergingcompany.com), featuring informative interviews with the CEOs, insights into their operations and outlooks for their futures.
Featured companies this week include;
CEO Dil Gujral described Globetech Ventures Corporation’s (OTC-BB: GTVCF) TranslationWave as a globalization company that transforms the Internet into a truly universal platform of communication, by providing the technology needed for global exposure and multilingual communication. “86% of Internet sites are written in English”, said Gujral, “but 70% of the world’s Internet users do not use English as a first language. Our E-mail translation feature gives both small and large websites the capability to send and receive translated E-mails from around the globe in order to expand an organization.”
Cameron Chell, CEO of Chell Merchant Capital Group (Nasdaq: CHEL) appeared on the program to announce the company has signed a Letter of Intent to purchase all of the outstanding shares of the Logicorp Group of Companies for $8 million.
Ed Haidenthaller, CFO of Axia Group, Inc. (OTC-BB: AXIA) announced the purchase of a 77,256 square foot shopping center located in Salt Lake City, by its subsidiary West Jordan Real Estate Holdings, Inc.
CEO Anthony Lapine discussed Semotus Solutions, Inc.’s (AMEX: DLK) growth during the past twelve months. “We have gone from less than $100,000.00 in monthly revenue to more than $700,000.00 and have signed several dozen Fortune 1000 clients.”
Free information packages from the featured companies can be requested by sending an email to info@emergingcompany.com.
Viewers of Emerging Company Report can receive free information in the mail about featured companies by calling the toll-free phone number on their TV screen. The weekly television program debuted in 1996 and is seen nationally on Friday evenings at 11:00 ET, 8:00 PT, Saturdays at 4:00 PM ET, 1:00 PM PT and Sunday mornings at 11:00 ET, 8:00 PT. The program is broadcast to over 32 million cable TV homes weekly in more than 300 cities nationwide and an additional 3.5 million homes on the DISH satellite network..
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Emerging Company Report television program, Copyright 2001, all rights reserved. Emerging Company Report does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. Emerging Company Report has been paid a cash fee of $11,500.00 by the featured companies, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies and the information herein is not an endorsement by the producers, publisher or parent company of Emerging Company Report. |
