Originally created 08/29/00

Business briefs



Confidence gives stock positive spin

NEW YORK - Stocks moved higher Monday, a possible sign that investors are more confident about the direction of stock prices.

The Dow Jones industrial average closed up 60.21 at 11,252.84, after rising more than 120 points earlier in the day. The Nasdaq composite index gained 27.91, to 4,070.59, and is now up slightly for the year, entering positive territory for the first time since early spring.

Advancing issues outnumbered decliners by a 5-to-4 margin on the New York Stock Exchange, where volume came to 723.21 million shares, up slightly from Friday's pace.

Media group expands holdings

Morris Communications Corp. has announced the purchase of Star Publishing Co. Inc., an Eagle River, Alaska-based weekly newspaper group. The company also announced that its book publishing subsidiary, Globe Pequot Press, has entered into an agreement to purchase Helena, Mont.-based Falcon Publishing Inc., a producer of outdoor travel guides.

Financial terms of both deals were not disclosed. Augusta-based Morris Communications, parent company of The Augusta Chronicle, is a privately held media company with holdings in the newspaper, magazine, billboard and radio industries.

Small-business workshop scheduled

The governor's office and the South Carolina Small Business Chamber of Commerce are sponsoring a series of eight forums for small businesses. The seventh forum will be today, at Aiken Technical College in the Learning Resources Building Amphitheater from 7 to 9 p.m.

Owners of small businesses are invited to come and speak out on what can be done to help them prosper and promote entrepreneurship.

Retailer is state's biggest employer

Wal-Mart has become the largest single, nongovernmental employer in Georgia, according to the state Department of Industry, Trade & Tourism.

With the recent opening of the Arkansas-based retailer's 650,000-square-foot distribution center in Carroll County, Wal-Mart now employs 36,000 Georgians and contributes more than $300 million in state and local taxes.

Wal-Mart has seven distribution centers in the state.