Researchers who specialize in molecular electronics, despite now discredited breakthrough in miniaturization by Dr J Hendrik Schon of Bell Labs, are making steady progress in single molecule transistors used as switches; difference in how atomic and silicon transistors work described; drawing (M)

Despite Fraud At Bell Labs, Chip Research Barrels Ahead

German wholesale sales dropped sharply in August, the Federal Statistics Office said. Compared with August last year, the sales fell 6.3 percent, based on figures adjusted for inflation. On a monthly comparison, sales dropped 1.8 percent.   Petra Kappl (NYT)  

World Business Briefing | Europe: Germany: Wholesale Business Declines

A plan by the Daewoo Motor Company's creditors to split the company into five entities as part of the sale of assets to the General Motors Corporation was approved by a South Korean court. The approval is a step closer to sealing 32 months of efforts to sell the insolvent Daewoo.        

World Business Briefing | Asia: South Korea: Daewoo Plan Moves Ahead

Ron Wertheimer reviews four-part PBS documentary The Rise and Fall of Jim Crow; pohto (M)

When Heroes Faced Down Injustice And Terror

Anne Midgette reviews Metropolitan Opera production of Rossini opera La Cenerentola featuring Peruvian tenor Juan Diego Florez; photo (M)

A Prince Charming More Than Charming

Article on nascent rock 'n' roll band Dry Cell, whose first single, Body Crumbles, proved popular but whose debut album remains unreleased and whose contract with Warner Brothers Records has been cancelled; photos (M)

Young Band, Derailed Dream

Gov Pataki basks in benevolent gaze of union leaders who usually have eyes only for Democrats, Albany; union leaders wave ceremonial pens in air after Pataki uses them to sign law to prevent employers from spending state funds to fight union organizers; Pataki, in part because of his support for such union-friendly laws, has won endorsements of Democratic bastions like UNITE and 1199/SEIU, 220,000-member health care union; photo of Pataki with union leaders (M)

Some Members Balk at Union Support for Pataki

The government warned pharmaceutical companies today that they must not offer any financial incentives to doctors, pharmacists or other health care professionals to prescribe or recommend particular drugs, or to switch patients from one medicine to another.    The government informed the industry that many practices commonly used in the marketing and sale of prescription drugs could run afoul of federal fraud and abuse laws.  

Drug Industry Is Told to Stop Gifts to Doctors

Article on Drs David Rizzo and Matteo Garbelotto, who have discovered that previously unknown pathogen species, now named Phytophthora ramorum, is cause of fast-spreading new disease known as sudden oak death syndrome; disease, which has spread to 17 different species, has killed tens of thousands of trees in California and may spread to East and Midwest; photos (M)

As Trees Die, Biologists Battle Back

South Korea's largest commercial bank, Kookmin, will soon face competition in administering low-interest loans that are subsidized by the government for people buying homes for the first time. The Construction and Transportation Ministry said it would name two more banks in October to deal with such loans. The government decided to give others a chance after Woori Finance Holding, whose Woori Bank ranks second to Kookmin, objected to the monopoly.   Don Kirk (NYT)  

World Business Briefing | Asia: South Korea: A Mortgage Monopoly Ends

Bloomberg administration, with New York facing yet another steep budget deficit, signals that it is no longer opposed to tax increases; debate at City Hall shifts to which taxes should be raised and by how much (M)

Bloomberg Is Considering Tax Increases

MyTravel, Europe's third-largest tour operator, said changes in accounting procedures would leave its 2002 profit far short of previous expectations. The company's shares fell by more than one third, to 81.5 pence, their lowest in more than 10 years. The company, which is based in Manchester, said pretax profit this year could be as low as &#163;90 million ($141 million), a decline of 38 percent from last year and 14 percent lower than earlier forecasts. Under its new accounting procedures MyTravel will book earnings when clients depart on vacation rather than when they make reservations.   Alan Cowell (NYT)  

World Business Briefing | Europe: Britain: Profit Down At Travel Agent

Music lovers who have complained that compact discs are too costly were officially vindicated yesterday, as five big music labels and three national retailers settled a lawsuit charging them with price fixing.    Although the companies did not admit to any wrongdoing, they agreed to refund $67.4 million to consumers who purchased CD's from 1995 to 2000 and eliminate policies that set minimum prices for advertised CD's.   

Suit Settled Over Pricing Of Music CD's At 3 Chains

Soon after America Online agreed to acquire Time Warner in January 2000, Stephen M. Case called Ted Turner one of his heroes, pledging that they would be ''joined at the hip'' in planning for the merged company. Mr. Turner, a cable pioneer, saw in Mr. Case another entrepreneur who had persevered through ridicule to forge a new kind of media giant.    But two years later, Mr. Turner has soured on both the merger and Mr. Case, its principal architect, people close to both men said. In recent weeks, Mr. Turner, the company's largest shareholder, has become the most visible and most vocal figure in a move by several other leading shareholders and directors to unseat Mr. Case as chairman, people close to the board have said.  

AOL Chairman's No. 1 Ally Turns Into His Biggest Foe

The American stock market has been a horrible place to be. But it was better than most markets overseas in the quarter that ended yesterday.    The sinking feeling that gripped the American stock market caused the Standard & Poor's index of 500 stocks to plunge 17.6 percent, its worst quarterly showing since the market crashed in late 1987. Much of that loss came in the last month alone; the index fell 1.5 percent yesterday. [Page C14.]  

Market Place; A Bad Quarter for U.S. Markets Was Worse in Other Countries

The German finance minister, Hans Eichel, cut one percentage point off his forecast for economic growth next year and said he opposed raising taxes to meet European Union budget requirements. The economy will expand 1.5 percent next year, the Finance Ministry said, compared with an earlier estimate of 2.5 percent. Mr. Eichel said he planned spending cuts of 10 billion euros ($9.8 billion) to avoid hurting the economy by pushing up taxes.  

World Business Briefing | Europe: Germany: Growth Forecast Cut

India's gross domestic product grew at a better-than-expected 6 percent in the quarter ended in June, backed by robust growth in the financial sector. The farm sector expanded 4.4 percent in the quarter and the financial, insurance and business services industry grew 9.7 percent, according to data provided by the government's Central Statistical Organization.   Saritha Rai (NYT)  

World Business Briefing | Asia: India: Economic Growth

New York Jets coach Herman Edwards will bench quarterback Vinny Testaverde and start backup quarterback Chad Pennington in next game against Kansas City Chiefs; photo (M)

Testaverde Sits and Pennington Will Start

Iranian film director Abbas Kiarostami is unable to get US visa in time to attend premiere of his new film Ten at New York Film Festival; friend and fellow director Aki Kaurismaki of Finland boycotts festival in protest (M)

One Visa Problem Costs a Festival Two Filmmakers

Mike Freeman Sports of The Times column discusses decision by New York Jets coach Herman Edwards to bench veteran quarterback Vinny Testaverde in favor of backup Chad Pennington; holds that decision was based on Testaverde's struggles so far this season; photo (M)

Sports of The Times; The Jets Had To Change Quarterbacks

The chief executive of Global Crossing warned the company's chairman, Gary Winnick, as early as mid-2000 that the company was doomed to collapse, according to documents released yesterday by Congressional investigators.    If publicly known, the warning from the chief executive, Leo J. Hindery Jr., would have shocked investors. At the time, Global Crossing, the operator of a worldwide fiber optic network, seemed to have almost limitless potential.   

Global Crossing Memo Indicates Early Warning Of Downfall

Commerzbank said it might set aside an additional 200 million euros ($197 million) to cover potential loan losses, mainly because of flood damages in eastern Germany. The bank, which is based in Frankfurt, expects total loan-loss provisions this year to rise to 1.3 billion euros, up from an earlier forecast of more than 1.1 billion euros.  

World Business Briefing | Europe: Germany: Bank Expects Loan Losses

Clyde Haberman reports on nerve-racking Hudson River cruise taken by Lisa Nussbaum, who was injured in World Trade Center disaster and suffers from post-traumatic stress disorder; she and her boyfriend were unable to relax on cruise because young woman on board, alone, with black canvas bag, kept looking at her watch and at one point talked to a man who appeared to be of Middle Eastern descent (M)

It's Called Terror For a Reason

The Bush administration today brushed aside criticism from Russia that intensifying airstrikes by American and British warplanes on radar and antiaircraft installations in Iraq were interfering with the diplomacy aimed at averting war.    As criticism of the weekend bombing raids around Basra, in southern Iraq, reverberated through foreign capitals, the White House today pressed ahead on multiple fronts to win United Nations support for a toughly worded draft resolution calling on President Saddam Hussein to disarm immediately or face a full-scale military attack.   

U.S.  IS  DISMISSING RUSSIA'S CRITICISM OF STRIKES IN IRAQ

 Former Ally Is Seeking Chairman's Ouster at AOL  When America Online agreed to acquire Time Warner two and a half years ago, Stephen M. Case called Ted Turner one of his heroes, pledging they would be ''joined at the hip'' in planning for the company. Mr. Turner saw in Mr. Case an entrepreneur who had persevered to forge a new kind of media company.    But Mr. Turner has now soured on the merger and Mr. Case, its principal architect, people close to the men have said. In recent weeks, Mr. Turner has become the most visible and most vocal figure in a move to unseat Mr. Case as chairman. [Page A1.]

BUSINESS DIGEST

Olivia Paige Dunne is an American influencer and former artistic gymnast. She is also a Sports Illustrated swimsuit model and former member of the LSU Tigers women's gymnastics team. In 2017, she was named as a member of the US Junior Women's National Team. Dunne has a social media following of over 10 million.

Livvy Dunne, American gymnast and social media personality

Livvy_Dunne

Walter Hubert Annenberg was an American businessman, investor, philanthropist, and diplomat. Annenberg owned and operated Triangle Publications, which included ownership of The Philadelphia Inquirer, TV Guide, the Daily Racing Form and Seventeen magazine. He was appointed by President Richard Nixon as United States Ambassador to the United Kingdom, where he served from 1969 to 1974.

October 1, 2002

Headlines from October 1, 2002

Despite Fraud At Bell Labs, Chip Research Barrels Ahead

World Business Briefing | Europe: Germany: Wholesale Business Declines

World Business Briefing | Asia: South Korea: Daewoo Plan Moves Ahead

When Heroes Faced Down Injustice And Terror

A Prince Charming More Than Charming

Billboard 200

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Historical Context for October 1, 2002