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2001 Year

CALIFORNIA | LOCAL
January 2, 2001 | ELAINE GALE and MAI TRAN, TIMES STAFF WRITERS
Arriving just 37 minutes apart, babies born just before and after midnight marked the end of the 20th century and the start of a millennium. Paul Rihani, at 21 1/2 inches and a strapping 9 pounds, 7 ounces, became the last Orange County child born in 2000 at 11:24 p.m. New Year's Eve at Kaiser Permanente Anaheim Medical Center. Emily Diane Garcia rang in the 21st century at 12:01 a.m. New Year's Day at Garden Grove Hospital and Medical Center.
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NEWS
January 1, 2001 | From Times Wire Services
Much of the world welcomed 2001 today with fireworks, good cheer and optimism, and even in troubled lands the hope of a better future prevailed. Yugoslavia's celebrations, the first since the ouster of former President Slobodan Milosevic, were dubbed "the first free New Year." Heavy rains in the last few days brought some relief from power cuts in Yugoslavia by boosting water levels behind power dams.
NEWS
January 1, 2001 | From Times Wire Services
Treasury Secretary Lawrence Summers said Sunday he expects "moderate" economic growth in 2001, and argued that federal debt reduction is crucial to economic health because it "really functions like a tax cut." The argument Summers made on "Fox News Sunday" runs counter to positions held by President-elect George W. Bush as he develops an economic policy that has his campaign tax-cut promises at its core.
BUSINESS
January 1, 2001 | Reuters
New-year cheer will be in short supply this week on Wall Street, as investors brace for another round of warnings of lower corporate profits and a fresh battering for U.S. stocks. Last year, ended badly on the stock market, marking the demise of the five-year bull run, as the Nasdaq composite index clocked the worst performance in its 29-year history, amid a slackening U.S. economy.
BUSINESS
January 1, 2001 | Reuters
Yet another withdrawn offering marked the dismal end of a year that started out with such promise for initial public offerings and the outlook for early 2001 is no better. No new public listings are scheduled for the first week of January, and the market is unlikely to recover any of its dynamism until February or later, analysts say--not until Nasdaq bottoms, the Federal Reserve cuts interest rates and the broader economic outlook improves.
BUSINESS
January 1, 2001 | From Reuters
Billionaire U.S. financier George Soros said the United States was in for a "bouncy and hard" landing as the world's largest economy slows, but his main concern was for spillover turmoil in emerging markets, according to a local newspaper report Sunday. In an interview with Chile's influential El Mercurio newspaper, Soros also said he expects the U.S. Federal Reserve to lower key interest rates aggressively at the start of 2001 but that a new global crisis was inevitable.
BUSINESS
January 1, 2001 | From Reuters
Brocade Communications Systems Inc. President Gregg Reyes said he is comfortable with consensus earnings estimates of 63 cents a share for the fiscal year ending October 2001, Barron's reported in its Jan. 1 issue. The San Jose-based maker of equipment designed to improve data storage in computer systems reported earnings of 28 cents a share for the year ended October 2000, adjusted for a stock split on Dec. 22.
NEWS
January 1, 2001 | From Associated Press
With cheers, fireworks and hugs, the third millennium officially began in the continental United States--a more subdued celebration than a year ago but, for many, still a great opportunity to party. The year 2001 clicked over in a chilly Times Square in New York City, while fireworks sprang to life along the Delaware River and New Englanders paused from digging out after their first major blizzard in five years.
BUSINESS
January 1, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
2001 will be another big year for the media-business deal makers, at least that's how we read the tea leaves. Industry analysts, investors and executives tell us to expect the sale of Yahoo; NBC to be cut free from its parent, General Electric; and Comcast to buy AT&T's cable systems. And that's just for starters. Skeptical? Many of our annual predictions have come to at least partial fruition. For example, a hostile takeover of Time Warner by America Online was in last year's forecast.
BUSINESS
January 1, 2001 | KATHERINE BALDWIN, REUTERS
Although the glitter and glamour might have faded, Latin American Internet investors heading into 2001 say they are still flush with cash--but a lot pickier. Nursing their wounds from a year blotted by the slump of technology shares and a succession of "dot-com" dreams turning to dust, investors are on the lookout for ventures that show a clear path to profit. "There's clearly a lot of people out there with money.
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