| Schering-Plough's turnaround is moving on apace
Schering-Plough is celebrating what its chief executive Fred Hassan describes as the continuance of "an extraordinary transformation" as the company posted a strong set of financials that were again driven by its cholesterol franchise.
Net income for the fourth quarter rose 75% to $182 million, or $0.12 per share, and the company noted that those figures include an unfavourable impact of $0.04 per share related to the streamlining its manufacturing operations and a charge of $0.01 per share related to the licensing of the over-the-counter heartburn treatment Zegerid (omeprazole/sodium bicarbonate).
Adjusted net sales were up 18.1% to $3.20 billion, which includes the contribution of Merck & Co/S-P joint venture products Zetia (ezetimibe) and Vytorin (ezetimibe and simvastatin).
What's Happening at the King County Library System?
Deftly piecing together the mammoth economy of oil, Margonelli documents a series of stark warning signs. The Cat in the Hat turns 50, and the King County Library System is celebrating! KCLS community libraries are joining in the 50th anniversary celebration of the publication of The Cat in the Hat with a special story times featuring this very special early readers' book during the first week in March. Many libraries are also hosting extra Birthday activities, and "Cat in the Hat" bookmarks will be available for all at each event. King County Library System CONTACT: Marsha Iverson, +1-206-784-2929 .
The new (Hy-Vee) deal
An agreement has finally been reached to get a new street built so the city can hold up its end of a deal in which Hy-Vee will build a new store at 50th and O streets.Landowners near the proposed store agreed to pony up about $566,500 to help pay to extend 50th Street from O to R streets if the city covered the remaining costs.The City Council unanimously approved the agreement, but, leery of being asked to give its public works department a blank check, also capped the amount of street construction dollars the city will contribute at $489,000. .
Wall Street, October 1929
Claud Cockburn, writing for the "Times of London" from New-York, described the irrational exuberance that gripped the nation just prior to the Great Depression. As Europe wallowed in post-war malaise, America seemed to have discovered a new economy, the secret of uninterrupted growth and prosperity, the fount of transforming technology:"The atmosphere of the great boom was savagely exciting, but there were times when a person with my European background felt alarmingly lonely. He would have liked to believe, as these people believed, in the eternal upswing of the big bull market or else to meet just one person with whom he might discuss some general doubts without being regarded as an imbecile or a person of deliberately evil intent - some kind of anarchist, perhaps."The greatest analysts with the most impeccable credentials and track records failed to predict the forthcoming crash and the unprecedented economic depression that followed it.
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