Originally created 02/11/99

Additional business news



Dow rebounds as broad market lags

NEW YORK -- Last-minute bargain hunting Wednesday lifted the Dow Jones industrial average higher just before the closing bell, but the broad market ended mixed, and small stocks lost ground.

The Dow gained 44.28 points to 9,177.31 after edging narrowly between positive and negative territory all day. IBM accounted for more than half of the Dow's gain, rising 6 1/16 to close at 168 13/16.

The Nasdaq composite ended 1.28 lower at 2,309.51 after a 94-point loss Tuesday. The Standard & Poor's 500 index rose 7.41 to 1,223.55.

Declining issues led advancers by 3-to-2 on the New York Stock Exchange. Volume was anemic compared to recent days, with 719.38 million shares having changed hands.

E-Z-GO Textron promotes Rivers

Augusta-based golf cart manufacturer E-Z-GO Textron announced it has promoted David P. Rivers to executive vice president. The promotion took effect Jan. 1.

Mr. Rivers will oversee all product planning and worldwide distribution for the company as well as the recently acquired Cushman industrial and commercial product line.

Insurance brokers consolidate

Regional insurance broker Palmer & Cay Inc. announced it has merged with Kentucky-based Powell-Walton-Milward Inc.

The privately held firm, which has an office in Augusta, will now employ 560 people in 21 locations.