Investors say 10,000 Dow is just another day at the
by Torie Knight
Buddy Brady of Upshur County used to sit at the breakfast
table with a newspaper in his hand reading the stocks. He watched his investments
closely. As time went on and he became more involved in stocks, Brady stopped
reading the lists every day. He knows that some days the numbers are up
and some days the numbers are down.
So when the Dow Jones industrial average climbed
184.54 points Monday, settling past the 10,000 milestone mark at 10,006.78,
Brady didnt get too excited. Everyone counts it as historical, Brady
It may not have caused much excitement for him,
but Brady knows it is good news for the New York Stock Exchange. He doesnt,
however, expect the Dow to stay above 10,000. Within the first half-hour
of trading Tuesday, the Dow fell to 9,883.85. It closed at 9,913.26 Tuesday.
Below 10,000 doesnt matter. What does matter, say
local investors, is a strong economy, low interest rates, low inflation
and a growing fascination with technology. They credit all of those as
reasons why Wall Street finally rallied past 10,000.
Todd Fulks, an investment representative with Edward Jones in Clarksburg,
said the race to 10,000 is just part of a decade of a rising Dow average.
In July 1990, the market was at 3,000. The stock market has been a good
place to invest your money, Fulks said. More dollars, more investors and
more milestones sum up the decade.
About 70 million Americans participate directly
in equities and another 130 million participate indirectly.
Brady, Fulks and Darrell Moorhead join those millions.
Moorhead serves as branch manager of Ferris, Baker
and Watts in Clarksburg. He believes a focus on technology, corporate growth
and stability helped the market reach so many milestones so quickly.
Companies like McDonalds, Coca Cola, Disney and
AT&T are examples of firms that continue to grow and prove to be good
investments, Moorhead said.
Thats good news for stock holders. A few years ago, AT&T stock
sold for $35 a share. Now it is around $80 a share.
Much of this growth is rapid and probably technology driven, Moorhead
Moorhead agrees with Brady and Fulks that a high
number one day doesnt guarantee anything the next day. In the overall
scheme of things, a 10,000 average doesnt mean much for day-to-day trading,
Moorhead said. The stock market is a buy-low, sell-high business, he
said. Its two steps forward and one step back.
The Dow measures the value of 30 of Americas corporate
icons, companies with a combined market value of more than $2.5 trillion,
or about one-fifth of the approximately $12 trillion value of all U.S.
Masked robber holds up McDonalds
by James Fisher
Bridgeport Police say a man who robbed the McDonalds
restaurant on U.S. Route 50 Monday night was discovered waiting in the
mens restroom by an employee and may have committed the robbery before
he was ready.
An employee preparing to close for the night was
cleaning the restrooms and surprised the robber, who was hiding in the
mens restroom about 10:20 p.m., said Detective Carl Springer. The man
was wearing a black ski mask and forced the employee to the front of the
store after a brief scuffle, Springer said.
The robber, who employees described as very polite
and courteous, herded the five or six employees into the back office and
emptied the contents of the safe into a bag he had brought with him. He
had either done this before or he was familiar with the layout of how it
was done, Springer said.
Springer said there was no evidence the robber had
a gun, but employees told police he kept his hand in his pocket, implying
there was a weapon. The robber made no threats and did not brandish a weapon
at any time, Springer said.
Police did not disclose the amount of money taken, but Springer said
that because it was the end of the days business, it was probably
substantial. The robber fled through the rear door of the restaurant, he
said, and left the area in an unknown direction.
A dark-colored car seen in the rear of the parking
lot may be connected with the case, he said. Police are searching for the
car and the two men inside to question them as either accomplices or witnesses
to the robbery.
The robber is described as being about 6 feet tall
with a thin to medium build and was last seen wearing a blue sweatshirt,
navy blue sweatpants and brown boots.
Both Springer and Clarksburg police say there is
no indication the robbery was connected with several break-ins that occurred
Monday night in Clarksburg. Armed robberies and B&Es dont normally
run hand-in-hand, Springer said. Robberies tend to be crimes of opportunity.
Theyre either broke or they need drugs.
Springer said about 90 percent of robberies are
drug-related, although police do not know if Mondays robbery is drug-related.
Springer said he has been in contact with Clarksburg
officers and will share what information he has with other area officers
at the next investigators meeting.
State gives $5.4M for
by Gail Marsh
Schools in both Harrison and Randolph counties will
benefit from the latest round of funds handed out by the State School Building
The authority on Monday allocated $5.4 million for
school renovations in 14 counties, with eight counties expected to come
up with $1.17 million in matching funds.
Harrison County received $500,000 to pay for a new
heating and ventilation system for Lumberport Elementary School. The county
school system will probably add $75,000 to the project, according to William
Ashcraft, assistant superintendent of schools.
This is something weve been planning on for a
while, so the design work is already done. We hope to have it out for bid
by June, with the work to start later in the summer, Ashcraft said. The
school may also get air conditioning if the bids come in as expected, Ashcraft
The red brick school, which is more than 50 years
old, presently relies on the original steam heating system. Norman Vanmeter,
principal of Lumberport Elementarys 340 students, said the heating system
has been reliable but sometimes hard to regulate.
Weve done fairly well with it, and our system
would be up and working when newer schools were having problems. But we
have just one thermostat on the top floor, so sometimes weve had too much
heat, Vanmeter said.
The School Building Authority also gave $150,000
to Randolph County to replace the windows at Elkins Middle School. The
school building, which houses 750 students in grades six through eight,
was built in 1956 and still has its original windows. Were really excited
about this, said Glen Karlen, Randolph County superintendent of schools.
The middle school is a good, solid building, but this will make a tremendous
improvement, he said.
Karlen said the school board will put bids out in
the next couple of weeks, with the project to take place during the summer.
The School Building Authority awards about $5 million
every year on renovation projects. This year the authority had some interest
earnings and about $109,000 left over from similar projects funded in previous
years, according Clacy Williams, director.
The money will also pay for projects in Putnam,
Cabell, Marion, Hardy, Raleigh, Greenbrier, Pleasants, Braxton, Webster,
Mercer, Berkeley and Mingo counties.