On Wall Street McDonald’s struggles -...

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135,532 3,500 10,505,907 1,684,994 14,567,032 1,025,184 297,015 287,326 569,414 5,204,010 NEW YORK (AP) — U.S. stocks are closing slightly lower following disappointing eco- nomic news from China and Japan. The Standard & Poor’s 500 index edged down a point to close at 1,877 Monday. It had been down 11 points earlier. The Dow Jones industrial average lost 34 points, or 0.2 percent, to 16,418. The Nas- daq composite fell two points, or less than 0.1 percent, to 4,334. Investors were discouraged by an 18 percent slump in Chi- nese exports last month, the latest sign of trouble for the world’s second-largest econo- my. Japan lowered its estimate for fourth-quarter economic growth. Petroleum- Crude Grades Ergon American North Sea Brent W. Texas Intermed $1,338.10, up $3.30 $20.897, down 1.8 cents On Wall Street Gasoline prices PRECIOUS METALS Mon. New York Stock Exchange Most active shares Leading losers Last Pct Tables from LPL Financial Gold: Silver: Regular Mid-grade Premium Diesel MARKET $3.69 $3.79 $3.99 $4.45 Bank Of America Corporation 17.47 +0.14 81,689,726 Advanced Micro Devices Inc 3.81 -0.14 42,130,663 Verizon Communications Inc 47.03 -0.12 32,384,384 Ford Motor Co 15.51 -0.11 30,495,247 Vale S A 12.81 -0.23 30,054,395 Petroleo Brasileiro SA 10.68 -0.22 26,406,764 Nokia Corp 7.92 -0.03 25,696,081 Alcoa Inc 11.94 -0.22 25,190,601 AT&T Inc 32.51 -0.03 24,935,302 JC Penney Co Inc 8.42 -0.26 24,718,249 Resolute Energy Corp 0.08 -46.67% Valley Natl Bancorp 0.55 -11.29% E-Commerce China 16.65 -10.77% 58 Com Inc 52.39 -10.17% Walter Industries Inc 9.43 -9.76% Concord Med Svcs Hldgs Ltd 8.75 -8.95% Barracuda Networks Inc 38.14 -8.84% Zuoan Fashion Ltd 2.12 -8.62% Homex Development Corp 1.25 -8.09% Youku Tudou Inc 32.75 -8.03% 97.58 96.56 97.58 96.56 107.88 108.75 100.96 102.55 Stocks slip on news from China Last Chg Volume Leading gainers McClatchy Co 6.51 +14.21% 3,601,965 National Bk Greece S A 5.43 +12.66% 9,587,313 Bpz Resources Inc 2.77 +12.60% 1,969,053 Omega Protein Corp 12.87 +11.82% 775,711 Chiquita Brands International 12.00 +10.70% 2,634,848 Taomee Hldgs Ltd 8.18 +10.54% 340,252 Alon USA Energy Inc 15.31 +10.06% 1,546,676 Standard Register Co 10.85 +10.04% 15,516 Enzo Biochem Inc 3.99 +9.92% 483,432 Mfc Indl Ltd 7.86 +8.56% 1,303,253 Vol Pct Last Gas prices as of 3:30 p.m. the previous day from the Gulf station on Riverside Drive Vol Fri.

Transcript of On Wall Street McDonald’s struggles -...

NEW YORK (AP) — Mc-Donald’s is fighting to hold onto customers in the U.S. — and all that snow didn’t help.

The world’s biggest ham-burger chain said Monday that sales fell 1.4 percent at estab-lished U.S. locations. It blamed the harsh winter weather, but conceded that “challenging industry dynam-ics” also played a role.

After years of outperform-ing its rivals, McDonald’s has been struggling to boost sales as people flock to places like Chipotle and Five Guys Burg-ers and Fries. Those chains have popped up quickly across the country by positioning themselves as a step up from traditional fast food in terms of quality, for a little extra money. They also offer greater customization, meaning din-ers can dictate exactly what toppings they want.

Executives at McDonald’s Corp., based in Oak Brook, Ill., acknowledge Americans’ changing demands when it comes to fast food.

“A long time ago, mass ap-peal had to be mass appeal,” Jeff Stratton, the president of McDonald’s USA, said in an interview with The Associated Press last month. “That’s not necessarily the case anymore today.”

So the company’s restau-rants are adapting to a world where McDonald’s traditional strength — consistency — isn’t always enough. For ex-ample, McDonald’s is rolling out new prep tables that can hold more toppings and sauc-es, a sign that it plans to give customers greater variety.

In Southern California, the company is even testing a “build-your-own-burger” con-cept that lets people use tab-lets to tap out the bread, cheese and other toppings they want on their burgers.

Executives say results are promising so far, but rolling out the offering across its more than 14,000 U.S. loca-tions would require consider-able changes to its kitchens.

It would also need the backing of the independent franchisees that own and op-erate the majority of its res-taurants in the U.S.

In the meantime, McDon-ald’s has made other changes to its menu, including the op-tion to get egg whites in breakfast sandwiches, and the addition of chicken McWraps, which are intended to appeal to people who want fresher, healthier food.

Globally, McDonald’s saidsales declined 0.3 percent atlocations open at least 13months in February. It warnedthat its muted performance sofar this year could hurt first-quarter profit margins.

In region encompassingthe Middle East, Africa andAsia, sales declined 2.6 per-cent. The company citedweakness in Japan and Aus-tralia, as well as a shift in thetiming of the Chinese NewYear.

Europe was a relativebright spot, with sales up 0.6percent on a strong perfor-mance in the U.K. and growthin France.

Tuesday, March 11, 2014 THE DERRICK. / The News-Herald – 7

135,5323,50010,505,9071,684,99414,567,0321,025,184297,015287,326569,4145,204,010

NEW YORK (AP) — U.S. stocks are closing slightly lower following disappointing eco-nomic news from China and Japan.

The Standard & Poor’s 500 index edged down a point to close at 1,877 Monday. It had been down 11 points earlier.

The Dow Jones industrial average lost 34 points, or 0.2 percent, to 16,418. The Nas-daq composite fell two points, or less than 0.1 percent, to 4,334.

Investors were discouraged by an 18 percent slump in Chi-nese exports last month, the latest sign of trouble for the world’s second-largest econo-my. Japan lowered its estimate for fourth-quarter economic growth.

Petroleum- Crude Grades

Ergon American North Sea BrentW. Texas Intermed

$1,338.10, up $3.30

$20.897, down 1.8 cents

On Wall Street

Gasoline pricesPRECIOUS METALS

Mon.

New York Stock ExchangeMost active shares

Leading losersLast Pct

Tables from LPL Financial

Gold:

Silver:

RegularMid-gradePremiumDiesel

MARKET

$3.69 $3.79$3.99$4.45

Bank Of America Corporation 17.47 +0.14 81,689,726Advanced Micro Devices Inc 3.81 -0.14 42,130,663Verizon Communications Inc 47.03 -0.12 32,384,384Ford Motor Co 15.51 -0.11 30,495,247Vale S A 12.81 -0.23 30,054,395Petroleo Brasileiro SA 10.68 -0.22 26,406,764Nokia Corp 7.92 -0.03 25,696,081Alcoa Inc 11.94 -0.22 25,190,601AT&T Inc 32.51 -0.03 24,935,302JC Penney Co Inc 8.42 -0.26 24,718,249

Resolute Energy Corp 0.08 -46.67% Valley Natl Bancorp 0.55 -11.29% E-Commerce China 16.65 -10.77% 58 Com Inc 52.39 -10.17% Walter Industries Inc 9.43 -9.76% Concord Med Svcs Hldgs Ltd 8.75 -8.95% Barracuda Networks Inc 38.14 -8.84% Zuoan Fashion Ltd 2.12 -8.62% Homex Development Corp 1.25 -8.09% Youku Tudou Inc 32.75 -8.03%

97.58 96.56 97.58 96.56 107.88 108.75 100.96 102.55

Stocks slip on news from China

Last Chg Volume

Leading gainers

McClatchy Co 6.51 +14.21% 3,601,965National Bk Greece S A 5.43 +12.66% 9,587,313Bpz Resources Inc 2.77 +12.60% 1,969,053Omega Protein Corp 12.87 +11.82% 775,711Chiquita Brands International 12.00 +10.70% 2,634,848Taomee Hldgs Ltd 8.18 +10.54% 340,252Alon USA Energy Inc 15.31 +10.06% 1,546,676Standard Register Co 10.85 +10.04% 15,516Enzo Biochem Inc 3.99 +9.92% 483,432Mfc Indl Ltd 7.86 +8.56% 1,303,253

VolPctLast

Gas prices as of 3:30 p.m. the previous day from the Gulf station on Riverside Drive

Vol

Fri.

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E-cigarettes: fresh air or smoke and mirrors?NEW YORK (AP) — On

the edge of the SoHo neigh-borhood downtown, The Hen-ley Vaporium is an intimate hipster hangout with over-stuffed chairs, exposed brick, friendly counter help — but no booze.

Instead, the proprietors are peddling e-cigarettes, along with bottles of liquid nicotine ready to be plucked from be-hind a wooden bar and turned into flavorful vapor for a lung hit with a kick that is intended to simulate traditional smok-ing. A hint of banana nut bread e-juice lingered in the air one recent afternoon as patrons gathered around a low table to chat and vape, or si-dled up to the inviting bar for help from a knowledgeable “vapologist.”

Places like The Henley are a rarity, even in New York. But “vaping,” itself, has had astonishing growth — in just eight years or so, the number of enthusiasts around the world has grown from a few thousand to millions. Believed by some to be the invention of a Chinese pharmacist, vaping now has its own YouTube gu-rus, trade associations, lobby-ists, online forums and vapef-ests for meet-ups centered on what enthusiasts consider a safer alternative to the “ana-log,” their name for tobacco cigarettes.

The Food and Drug Ad-ministration plans to regulate e-cigarettes but has not yet is-sued proposed rules. Right now, the agency simply states on its website that “e-ciga-rettes have not been fully studied so consumers current-ly don’t know the potential

risks of e-cigarettes,” includ-ing how much nicotine or other chemicals are inhaled, or if e-cigs “may lead young people to try ... conventional cigarettes.”

Whether vaping helps reg-ular smokers quit or leads non-smokers to nicotine ad-diction isn’t known. Vaping may be safer — there are dif-fering opinions — but it isn’t necessarily cheap.

Will Hopkins, a 21-year-old dog walker in black leath-er jacket and skull ring, visits Henley four or five times a week. He smoked a pack of full-strength Marlboros a day for eight years, until he took up vaping. The same goes for his buddy, 20-year-old pho-tographer Will Gallagher, who has been vaping for two years and is fond of his brass mod, a cylindrical device that’s larger than a cigarette and decorated with a tiger and Chinese lettering.

“I think both of us have poured in probably a little over a thousand” dollars, Gal-lagher said of their equip-ment. “I like the exclusivity of vaping. I like to keep chang-ing up my stuff.”

The Wills are into rebuild-ing tanks and rewiring coils, scouting new e-liquid flavors and adjusting their devices, which can cost up to $300 at Henley, to allow for more va-por, more flavor. But the co-owners of Henley count older smokers among their clientele as well.

E-cigarettes are usually made of metal parts combined with plastic or glass and come in a variety of shapes and sizes. They heat the liquid

nicotine solution, creating va-por that quickly dissipates when exhaled. The vapor looks like tobacco smoke and can feel like tobacco smoke when taken into the lungs at varying strengths, from no nicotine up to 24 milligrams or more.

In 2006, sellers of all things vape worked primarily online or via kiosks in shopping malls. Now there are more than 250 brands and devices that can cost mere dollars for a case of “cigalikes,” which resemble the real thing, to a gold-and-diamond unit the size of a fountain pen that was reportedly made for a Russian oil tycoon and cost about $900,000.

Whether vaping is cheaper than a cigarette habit is up to how much is spent on equip-ment and liquids and how of-ten one vapes. A 15-milliliter bottle of liquid at Henley can go for $12 and may be rough-ly the equivalent of four packs of cigarettes, depending on the strength of both liquid and leaf cigarette, among other factors like how many puffs a smoker takes in. Recharge-able devices require batteries — another expense — and a starter kit for reuse that comes with a device can run around $66.

By comparison, the cost of a 20-cigarette pack of regular cigarettes can range from about $5 to about $15, de-

pending on state tax and the type of location where they’re purchased.

Some cities and states have already moved to ban public use the way they do tobacco, and some states forbid the sale of e-cigarettes to minors. Critics believe e-cigs may serve as a tobacco gateway for uninitiated young people. “It may be smoking e-ciga-rettes, but it’s still smoking,” said U.S. Sen. Richard Blu-menthal, a Connecticut Dem-ocrat who was one of four senators to fire off a scathing letter to NBC and the Holly-wood Foreign Press Associa-tion after a spoof on e-cigs aired during the Golden Globes in January.

Proponents argue that vap-ing isn’t only safe but is help-ing people quit smoking. TheHenley has a white “wall ofdoom,” where it lists in bigblack letters the numeroustars and chemicals found intobacco cigarettes, but absentin e-cig use if one is carefulabout the liquids purchased.

“What’s so beautiful aboutthis product is we can takepeople from a high level ofnicotine down to zero, downto nothing, so they’re just vap-ing basically water and fla-voring,” said Henley co-ownerTalia Eisenberg.

She scoffs at the notion thatchild-friendly flavors of e-liq-uids — Watermelon Wave andFrozen Lime Drop, for in-stance — were created to lureteens. And she rejects the ideathat e-cig companies shouldbe banned from advertising onTV, as tobacco companieswere more than 40 years ago.

While e-liquids and vapingsupplies lack oversight andlong-term research, they arereadily available to all agesonline, and at gas stations,bodegas and many drug stores.But Henley doesn’t servethose under 18 — a voluntarydecision. Would it make moresense to help people give upnicotine — an addictive sub-stance — altogether?

“Sure, but how’s that wor-kin’ for the country so far?How are they doin’ with that?We’re talking in terms of seri-ous harm reduction,” saidEisenberg’s business partner,Peter Denholtz. His motherdied of lung cancer two yearsago; he himself smoked ciga-rettes for 36 years, but hasbeen vaping for four years.

AP

Talia Eisenberg uses her vaping device at the Henley Vaporium in New York.

McDonald’s struggles worsened by snow

APMcDonald’s saw a key sales figure drop in the U.S.again in February.

Americans board public transit in booming numbersLOS ANGELES (AP) — Ameri-

cans are boarding public buses, trains and subways in greater numbers than any time since the suburbs began booming.

Nearly 10.7 billion trips in 2013, to be precise — the highest total since 1956, according to ridership data reported by transit systems nationally and released Monday by the American Public Trans-portation Association.

Transit ridership has now fully recov-ered from a dip caused by the Great Re-cession. With services restored following economy-driven cutbacks, ridership numbers appear set to continue what had been a steady increase.

“People are making a fundamental shift to having options” aside from a car in how they get around, said Michael Melaniphy, president and CEO of the public transportation association. “This is a long-term trend. This isn’t just a blip.”

Expanding bus and train networks help spur the growth.

Ridership on Los Angeles County Metropolitan Transportation Authority light-rail trains increased 6 percent over 2012, as the public took advantage of an expanded network of lines. Overall, LA Metro gained 9 million trips to reach 478 million in 2013, the transportation asso-ciation said.

APA Metro bus rolls across the Roosevelt Bridge over the Poto-mac River in Washington.