Originally created 09/07/02

Pocket change



AROUND TOWN

Golf hall director plans to resign

The Georgia Golf Hall of Fame announced Friday that project director Charles Strawser will resign Oct. 31.

Mr. Strawser joined the organization in 1996 on what he called a "short-term basis" to create the Augusta Golf & Gardens phase of the downtown attraction.

"With the Gardens now open, I wanted the board to have the opportunity to restructure the staff to accommodate their future needs as they move more into operations than development," he said.

Mr. Strawser submitted his letter of resignation earlier this month. Georgia Golf Hall of Fame Chairman Mark Darnell said the board of directors has appointed a search committee to hire an executive director.

BRIEFLY

Jobless report sends stocks up

NEW YORK - Stocks rebounded Friday after a report on the nation's unemployment showed unexpected improvement, and Intel predicted third-quarter computer chip sales would fall less than analysts had expected.

Friday's gains capped a tumultuous week on Wall Street, with the Dow alternating triple-digit winning sessions with triple-digit losing sessions.

The Dow rose 143.50 points, or 1.7 percent, to 8,427.20. It dropped 141 points Thursday.

Postal Service loses less than it expected

WASHINGTON - Thanks to an aggressive campaign of cost-cutting, including a major cut in staff, the Postal Service is finishing the fiscal year in better financial condition than expected.

Postmaster General John E. Potter said Friday the agency expects to finish the fiscal year this month with a $1.2 billion loss. The post office had expected to lose $1.35 billion.

Continued cost-cutting and the rate increase that took effect this summer are expected to push the post office into the black in 2003 with a profit of $600 million, he said.