December 27, 1998 |
For better or for worse, 1998 provided the most powerful evidence yet that the business and financial world has become a global village. Huge corporations, both American and foreign, geared up for international competition with a record-breaking torrent of billion-dollar acquisition deals. Financial crises raced from East Asia to Russia to Brazil, pushed along by speculators who moved money around the world with blinding speed.
January 1, 1999 |
Was it a bull? A steer? A bear? A chicken? All of the above? Wall Street historians may never agree on what to call the U.S. stock market's wild ride in 1998, but that's somehow appropriate: At several points in the year the market left just about everyone speechless. For sheer excitement, 1999 will find '98 tough to beat.
February 10, 1999 |
A surge in productivity during the final three months of 1998 helped produce a healthy 2.2% increase in Americans' output per hour of work last year, the government said Tuesday, in another sign of the economy's exceptional performance. The advance in productivity at nonfarm businesses, reported by the Labor Department, marked a significant improvement over the 1.2% gain of 1997 and came close to 1996's 2.4% rise.
January 19, 1999 |
American Express Co. said U.S. consumers spent 15% more this holiday season compared with last year, though they spent 14% less than they had planned. Shoppers polled by the financial services company said they spent an average of $1,148 on holiday expenses, including gifts and travel. More than half of retailers said the season was stronger than 1997's, with a third saying sales rose 10% or more. The survey was conducted Dec. 28-30 and involved 500 consumers and 275 retailers.
CALIFORNIA | LOCAL
January 2, 1999 |
This was the Year of the Tiger, according to the ancient Chinese calendar. But in the San Fernando Valley, 1998 was more the year of all critters warm and fuzzy, plus a few cold and slimy. Into the news burst bats, cats, newts, greyhounds, horses, turtles, bulldogs and iguanas, as well as a "Yogi" bear, peacocks, mountain lions and a rattler. And even a tiger or two. The year began with a roar--of the human sort--for humane treatment of animals.
January 5, 1999 |
Who will be making headlines in 1999? The latest trends in the marketplace suggest that--with some exceptions--the newsmakers will be a markedly different cast of characters than graced this feature a year ago. At that time, the investment community--led by aggressive real estate investment trusts--was grabbing the bulk of coverage.