Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (24567)	1/25/2002 10:34:55 AM
From: Sully-	Read Replies (3) \| Respond to of 99280

ECRI weekly index rises, signals imminent recovery NEW YORK, Jan 25 (Reuters) - A weekly indicator of U.S. economic activity rose in the latest week and its persistent pattern of improvement suggests the economy is on the verge of recovery, the Economic Cycle Research Institute said on Friday. ECRI's Weekly Leading Index edged higher, to 120.7 in the week ended Jan. 18 from 120.1 in the previous week. ``The recovery start date will be in some month in the first quarter of 2002,'' said Anirvan Banerji, ECRI research director. A rise in mortgage applications and a decline in initial jobless claims helped push the index higher in the latest week, ECRI said. But Banerji questioned the potential strength of the rebound, saying that because consumer spending held up fairly well during the recession, the economy may lack the pent-up demand that usually triggers a robust bounce-back. At the same time, he said the Fed's aggressive rate-cutting campaign certainly helped things along. ``Fed action has been unusually aggressive and frequent, and to that extent, clearly it has mitigated the severity of the recession,'' Banerji said. The index's growth rate, which compares the four-week moving average with its behavior over the preceding year, also rose in the latest week, to 1.1 percent from 0.8 percent one week earlier. The Weekly Leading Index is composed of a balance of seven major economic indicators. ECRI designs short- and long-term indexes aimed at predicting business cycles, recessions and recoveries in the world's leading economies. Historical Data --------------- Week ending Level Growth rate (%) Jan 18 120.7 1.1 Jan 11 120.1 0.8 Jan 4 120.6 0.3 Dec 28 117.4 -0.4 Dec 21 120.1 -0.2 Dec 14 118.7 -1.5 Dec 7 119.1 -2.5 Nov 30 118.0 -4.1 Nov 23 117.1 -5.1 Nov 16 116.7 -6.5 Nov 9 115.5 -7.8 Nov 2 115.9 -8.2 Oct 26 114.1 -8.8 Oct 19 113.9 -8.7 Oct 12 115.2 -7.9 Oct 05 114.8 -7.1 Sep 28 115.3 -5.8 Sep 21 116.7 -4.3 Sep 14 117.7 -3.4 Sep 07 118.8 -2.9 Aug 31 119.8 -2.6 Aug 24 119.3 -2.3 Aug 17 119.4 -1.7 Aug 10 120.0 -1.1 Aug 03 120.8 -1.3 Jul 27 121.2 -2.0 Jul 20 121.3 -2.5 Jul 13 119.8 -2.9 Jul 06 119.4 -2.4 Jun 29 120.4 -1.7 Jun 22 120.7 -1.4 Jun 15 121.2 -1.5 Jun 08 121.6 -2.0 Jun 01 121.3 -2.4 May 25 120.8 -2.8 May 18 120.2 -3.6 May 11 120.8 -4.4 May 04 120.6 -5.6 Apr 27 119.2 -6.9 Apr 20 118.5 -7.5 Apr 13 118.3 -7.9 Apr 06 118.0 -8.0 Mar 30 118.2 -7.7 Mar 23 118.2 -7.2 Mar 16 118.8 -6.8 Mar 09 119.4 -6.4 Mar 02 120.2 -6.0 Feb 23 119.6 -5.6 Feb 16 120.4 -5.0 Feb 09 120.8 -4.2 Feb 02 121.7 -3.8 Jan 26 121.6 -4.8 Jan 19 122.8 -6.8 Jan 12 122.3 -8.6 Jan 05 119.8 -9.5 biz.yahoo.com

To: Softechie who wrote (24567)	1/25/2002 10:36:30 AM
From: Dave Gore	Read Replies (2) \| Respond to of 99280

Softechie, congrats on your call. They are no Enron but they management should not have underplayed the SEC thing on the C.C.

To: Softechie who wrote (24567)	1/25/2002 10:51:23 AM
From: LTK007	Respond to of 99280

Kmart, SEC Investigate Accounting Kmart, SEC Investigate Anonymous Letter About Accounting Matters TROY, Mich. (AP) -- Kmart Corp., which filed for bankruptcy protection earlier this week, said Friday it has begun an investigation after receiving an anonymous letter claiming to be from employees that expressed concern about unspecified accounting matters. The nation's third biggest discount retailer said it had contacted the Securities and Exchange Commission about the letter and its own investigation and is cooperating with the regulatory agency. The disclosure comes amid heightened sensitivity about accounting issues in the wake of the collapse of the energy trader Enron Corp. (NYSE:ENE - news) amid questionable accounting practices. Kmart said the letter was addressed to the SEC, Kmart's auditors and the company's board of directors. ``The letter has been referred to the audit committee of the board of directors, which promptly engaged outside counsel and accounting consultants to conduct an independent investigation,'' the company said in a news release. After receiving the letter, Kmart said it contacted the SEC and notified it about its own investigation. Kmart said the SEC has authorized a private investigation, and Kmart plans to fully cooperate with it. A message seeking additional information on the investigation was left with a Kmart spokesman. An SEC spokesman said Friday that the agency had no immediate comment on the matter. Troy-based Kmart filed Tuesday for Chapter 11, a move that came after lower-than-expected holiday sales and fourth-quarter earnings, downgrades by credit-rating agencies and a stock sell-off. Last week, Kmart's board fired the company's president, Mark Schwartz, and hired turnaround specialist James Adamson as chairman -- replacing Chuck Conaway, who remains as chief executive. In announcing the bankruptcy filing, Kmart said it will evaluate store performance and lease terms by the end of the first quarter of 2002, and will close unprofitable or underperforming stores. Kmart also said it would reduce staff. In trading Friday on the New York Stock Exchange, Kmart shares were down 7 cents a share at 86 cents. On the Net: Kmart Corp., http:// www.bluelight.com