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BRIEFS

The Associated Press
Tuesday January 23, 2001

Economic activity gauge plunges in December 

NEW YORK — A key gauge of U.S. economic activity plunged 0.6 percent in December, the largest drop in five years and a signal of continued weakness in the U.S. economy. 

The New York-based Conference Board said its Index of Leading Economic Indicators, which has been statistically revised and rebased, fell to 108.3 last month after two consecutive drops of 0.4 percent in October and November. 

Three consecutive declines in the index traditionally has been seen by analysts as a signal that the U.S. economy is headed into recession. 

ar brand by selling it to such mass outlets as Costco Warehouse Club without approval. 

 

Dell Computer Corp. says it won’t meet expectations 

AUSTIN, Texas — A slowing economy and diminishing demand for personal computers and services caused Dell Computer Corp. to warn Monday that it won’t meet fourth-quarter earnings and revenue expectations. 

Dell said earnings for the three months ending Feb. 2 would be between 18 cents and 19 cents per share, down from the 26 cents the company originally expected and down from the 25 cents estimated by analysts surveyed by First Call/Thomson Financial. Revenue for the quarter will total $8.5 billion to $8.6 billion, 1 percent to 2 percent lower than expected, the company said.  

 

Bill would make it harder to erase debt in court 

WASHINGTON — The Senate Banking Committee chairman said Monday he plans to send President Bush a new bankruptcy overhaul bill that would make it harder for people to erase their debts in court. 

Congress overwhelmingly passed a similar bill last year, but it was vetoed by President Clinton, who said it was unfair to ordinary debtors and working families who fall on hard times. 

Bush is widely expected to sign such legislation if it reaches his desk. 

That would mean a stricter stance toward debtors, particularly wealthy ones, who abuse the bankruptcy court system, Gramm indicated.