Wall Street Journal front page, August 28, 2002

NYC 9/11 Public Portal Document

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. I ’ THE WALL STREET M ‘ ■» ■• I k .. © 2002 Doui Jones £> Company. All JUyhts Reserved L I * "i, ■

‘V ' ” WEDNESDAY,. AUGUS'r 28, 2002 - VOL. CCXL NO. 4'2 - *★** .$1.00 ______________ >. ■ « _________ ,< - . * ■ !______________ £__________ ________________________________________________________________________ _

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Uneven Treatment !' •I. ■ •> ■ * ' '.f' r k* t • r-- H * J Not in Stock Spo'oked by falling prices and suspicious of price manl( Near Trade Center, Stark Disparities ■" What’s • News - * . * * #' * *' t been steering clear of stocks.

As the markets languish... Nikkei 225‘stock Average, ' 'Japanese Portion of fi weekly closed ,, .. households Emerge in Cleanups i Business and Finance World Wide ALOMON ALLOCATED ■ BUSH PRESSED a Saudi envoy,to *'f Lax Government Leadership ■•-s 'nearly one million shares of 1 ; coveted IPOs to Bernard take the Iraq threat more seriously. At the Texas meeting, the presi- j Leaves Some Residences ' .Ebbers, WorldCom’s ex-CEO, dent called Saddam Hussein “a men-,, < ace to the world?’ but the envoy re-' | .With Asbestos Concerns f and to 'other favored clients. jterated Riyadh’s opposition to a U.S. 4 j While the linking of investment- attack. Indeed, an adviser to Crown" . ■i, . . banking business to IPO distri- Prince Abdullah said Washington’s’, , Cimipanies Spend to Refurbish ■i button has been pervasive on rhetoric is running “way ahead of . 0i .|. I I 1., I. I i< I 'I I .,. ,• 0IB B } .Wall Street, the Salomon-World­ the policy” and that the U.S.’ lacks i-. Com documents detail howthe ■the regional support heeded to pros-? I ■i -IMO* '92' '94' ‘;M'’''98''.'tl0 ’025 FY1990 '92 ’ By Motoko Rich i practice”may have-worked. ecute a war. The State,-Department '■ ’Figures Are for fiscal years ended March 31, converted from yen at current rat And Susan Warren u said it is too early to start building j f Prosecutors plan to seek a such support because Bush hasn’t • i • 1 Soorew; Thomson Oatastwam; Sank of Japan ’ . new' YORK-In the eight mouths that ’ ’ grand-jury indictment against - made'a decision" to attack. (Page A4) I 4 Steve Stewart and his 4,000 colleagues at Scott Sullivan, WorldCom’s , .•^Iraqis intervieiced by the Associated II American Express Co. were exiled from former top’finance executive. ,, [Press'in Jordan siibi U.S.-British'^aif their offices afler Sept’ 11, a lot was go-, / ihg on in the company’s headiiuarters (Articles in Column 4 and.on Page A3) >■ * ?, *• * ‘ raids near, Basra. Sunday destroyed '.a-eomplex Baghdad was using to * Salomon Made IPO. across the. street from the World Trade, ■ The..Trade Commission re­ ’ 'track U.S.'nurues in the Persian Gulf. Center site. Cleaners vacuumed thick lay- 'ers of dust and debris that had blown into jected a request from .U.S,, steel- I makers to'impose duties on a • , r * * ,

■ The CBO issued a budget forecast , ■ ■ f i Available to Ebbers, the 51-story tower through shattered win­ I key’product, leaving the indus-' considerably Roomier than the most ', dows. Specialists tested for 120 contami­ . try scrambling, to regroup', .recent'White House,predictions. Con- ,. * By Charles Gasi’arino, lives-ah nants, including asbestos, lead and mer­ 7 gfessional budget officials say defi­ Tom Hamburger business v * (Article on Page A2) cury. Mr. Stewart cits will persist through at least 2006 . And Deboiuh Solomon and Salom ' * *. * n * and the 10-year surplus', projected at banker. returned in June to L '■ piirable-goods orders le'apt •I a pristine office. $5.6 trillion when Bush took office, At a time when WorldCom lire, was The'’al with a new chair, 1 ^( 8,7% iri'July to a seasonally ad-j has just about evaporated. (Page A2) sending tens of millions of dollars in in- ments sub vestment-banking business, to Salomon niittee in ' * * ' * >’ • ' - <

computer and gray- fi justedS179,7 billion, allaying.wor- and-blue carpeting. '• £ ries of a recessionary lapse, Con- ’■ Israel Issued conflicting statements j Smith Barney, the big Wall Street firm American Express, fl sumer confidence fell in August, "on whether it will let the. Palestinian „ I allocated nearly one million shares of cov­ parliament meet to endorse' a plan , eted initial public offerings' to Bernard Ta the 32-year-old man- Iq A (Article on Page A2) for January’electidns. Israeli "officials' Ebbers. the telecom company’s former Prosecut, ager says, “did: )f -say a ,bulging wall at a Muslim holy .. chief executive. what it needed to . ■ H-P. reported a'$2,03 billion iiidictmei --site, in Jerusalem threatens Jewish But perhaps mure surprising; Senior WofldCoi do to alleviate peo­ fiscal third-quarter loss but reaf- worshippers, but politics may drown ' brokers at Salomon also sought to dole tive, as c ple’s fears.” ' ’ ’ firmed earnings and,revenue;es- r practical discussion of the problem.' ' " out tens of thousands of hot IPO shares to A few blocks ' timates for the fourth quarter,.:’ r nearly two dozen other top telecom execu- 'away,,Sudhir Jain (Article on Page A6) ■ Afghanistan plans to begin send- i what app( had a. different ex-, ■y -W ■ -* -« jc.*.. — ing Pakistani prisoners home even , I Salomon t perience. The ---- ---------- though'many appear to have fought executive: ■ Boeing raised its' monetary of- freelance technol­ ogy consultant moved’ back to his apart- , fer.'in a proposed three-year, con­ with al Qaeda and the Taliban,' Pa- J To Some, You're ’ then-hot I long way I tract with machinists ,but re- kistan says at least 90(1 of its citizens ’I ment five blocks’south of Ground Zero ’ j investors] only two weeks after Sept. 11. His living fused'to guarantee jobs, clear­ were captured when the Taliban fell, A Zero Without O's when it wi room was still covered by gray dust. The » ing the way for a likely strike. ■ The Justice Department’proposed i. speculato owner of the 208-unit residential building' denied tenants’ requests to hire a clean- ■ ' (Article on'page hew rules'm tlie wake of a .Supreme ' III Your Cell Number shares, U them alre * * * Court decision requiring deportation ing contractor. Mr. Jain says, so he hired ■ HealthSouth said changes in hearings for immigrants convicted of ‘ ■ ble snagg his own. Confused about what sort of test­ Medicare reimbursements will ’ a pre-1996 crime. But those deported । WhUe; ing would be appropriate, he didn’t dp „ cut profit‘and its founder will without any hearing may not return," , One Happy .Man About Town ■ ing busin any. “We have teen left to fend for our­ f step aside as CEO to head a- a control selves to protect our own' health and ’ spinoff. Its stock fell nearly 44%. ■ Environmeutallsfs accuse, the U,S„ • Has Wangled 10 Lines on Wall i "safety,’’ says Mr.‘ Jain? 40. , Saudi Arabia.and others of working page one Nearly a' year after the Sept. 11 terror j ‘ (Article on Page.A6) at'aU.N, (Summit in Soulh Africa. tp_ That End in ‘Thousands’ in 1997- ■ist_attactedestroyedtheTydn^ertan(l- vf - wate’f down promises to cut . use of t k ^■ments of ,unleashed,a massive cloud of debris.on fossil. fuels..Developing-world lead-' J •By Shelly Branch J on "how f lower Manhattan, the continuing cleanup proposal,by Global Crossing that ers siamnied'Western farm subsidies,* In phi presents aoptark case of have's and have- * 'the agency said -would have ap-' F ... ■ *;",*..' I < Paolo Zampolli, the dapper owner of a instance, nots.' The'filggesl cqrttofate’t'enafits^andr^ plied generally to the company -■The U,S, struck three people “and' *. New,York-City modeling agency likes to. landlords have conducted pricey clean- ' * and not specific individuals. ' three groups from Its terrorism list',' ”i surround himself .with beautiful'people'" ups, costing millions of dollars each., But '(Article on Page a3) ,» The U.S/iast week asked the U,N, ' and enviable things. ’There’s his black until recently, government agencies at all' ’ '‘ , to take the 'six off its list after criti- stretch Chevrolet Suburban limousine in , Salonj levels failed to moimt a centralized cam- ■ ■ KPMG's U,S. ann must stand the evidence thecL which he makes the'nightclub rounds witti ' IPO st paign of scrubbing and'testing indoor I trial.with KPMG BelglUtri'in his lacg-legged ■girts." Three dal-screen cEoe spaces. As a res'ult, niany residential build- suits arising from accounting coEpuSers flkter In his SoHd office, a Gramercy Part apenmeot stew s off a Pic ­ • „ I ings, schools and small businesses have re- ‘ (r^ud at' Lemotil & Hauspie; on afl tteir aiitrafi by Aprfl. It is con- , asso drawing ind a .Miro painting. • COMPAH ceived only spotty attention. Even without firm government guid- ’ veiling a meeting today to keep the ■' •. But among the 32-year-old Mr. Zam- ance, many large com^ie^^^ . the SEC Approved klesr^ timetable from slipping. (Rage D2) ' polli’s most prized possessions is a'grow- * ' * ’■ * McLeoi ing collection of zeros, and not tlie kind ' to spend a lot of " quiring top executives of U.S.v, ■ Georgia ’s Shevardnadze attended having to do with any bank account. Like money, upgr'ade fil- ' .and foreign companies, includ-' the funeral of a man Tbilisi said was .many people caught up in the status sym­ Metron tradon systems- I .i'hg.mutual-fund firms, to certify killed in a'Russian air raid in the bols of the digital age, Mr. Zampolli is t cA* i!

f I . H And bring in ex- ■ perts,’; saypHugh "■ Kaufman, a'policy results they file with the a'gency. cow broke "all limits’, with the raid. (Anick. on Page C4)'- * * * Pankisi'Gorge Friday. He said Mos- ''

♦k * . * ‘4- , , I obsessed; with his Each of them-12; altogether-ends cellphone numbers. neatly in two or , WlUlan

Tcllgai 1 ■ A Pakistani judge approved Mush" ' three zeros. "I only hhalyst at the EiivL , . ■The Nasdaq fell 3.16%, the r afraf’s 'request to expand the tribu- i ronmental ’ Protec- I worst one-day.drop in'three want good num­ nal that will hear. ex-Premier Bhut- f bers,” says Mr. JunoO Agency’s head- weeks, amid Intel’s, ca'utious out-^ to's plea to run in Oct. lO'elections.-f quarters in Wash- 8 Zampolli,'who hails’ I ‘itiirtli’ look for the computer sector. It put of! a Hearing until tomorrow. ’ 8) from Milan. "What ington’: But lacking The, Dow. industrials shed 1.06%. *; NetCoi official coordina- 1/ can 1 say? I’m ad- J ■ China’s Jiang faces criticism from ^'on-^including ’ i (Article on Page Cl) “ ■* -5. * •* ■ .1 both the left and right wings of the" ' dieted. ’’. Telephone iiutii- Source:

’ -from his own Communist Party as' a crucial Nov.- 5 ” agency-many ■ Enron has opened up .bidding c bers ending in “00” 8 meeting approaches. That may com- ,« B. or .“000” used'to be wish lis < -1 smaller landlords ) on 12 of its main’assets, adding- plicate a leadership shifts (Page A12) '! ciit corners, Mr, Kaufman adds. “1 give to the-glut of' power, facilities % the province" of busi- .receive' g nesses, of,, of the. ' nectioiti the private sector tremendous kudos. I 1 '-and pipelines on the-ma'rket.' . ■ The'Cleari Air Act of, 1970’may ’’ i “ rich and famous. pany th give'the public sector an F-minus.” ■'Andersen Worldwide tentatively 'fh’ave prevented as many as 11,70(1 ■ Paolo ZumpoUi. Companies .and in­ on its f Mr.'Jain’s landlord at 50 Battery Place, ‘ agreed to pay $60 million to' settle deaths, through 1998 by cutting car- dividuals" ,, alike executii the DeMatteis Organization, says through 1 suits'felated to the collapse of En- bon-monoxide emissions from yehi- ’’ would'compete for them because of the of Salof a spokesman that it .told tenants to hire ’ • ron, a fraction of what was’ lost. cles, a CDC study found. (Page.D4) obviously limited supply in any given ’’■WhU * (Articles,on|Pages B3 an& Cl) I, \ - » ’♦ “ their own cleaners and submit bills for pos­ area code. Many paid dearly to acquire executi- sible reimbursement by the owner’s insur- ■ ■ The’West Nile virus Is providing { and keep them. , shares-’ ■ Nortel plans 7^6’00 more job „ public-health .workers with hands-on I ance Company. (Inly a'handful-^Mr. Jain^ experience that could prove valuable < But ccEphones, and the more.than 100 didn’t r .-.rn'illinn new.numbers created.for. them,, docume

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