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CHEMICAL INDUSTRY NEWS
For the most up to the minute chemical industry financial news - See YAHOO! Their chemical industry news page is the most comprehensive on the Internet right now. You can visit them at http://biz.yahoo.com/news/chemicals.html . Another good Yahoo! site is their Biz page specific for Chemicals. You can visit it at http://dir.yahoo.com/Business_and_Economy/Companies/Chemicals/
SHAMELESS PROMOTIONS DEPARTMENT
Mr. Tito has made it to Alpha. American businessman Dennis Tito, the inventor mathematical model which computes the Wilshire 5000 index, has become the first space tourist. NASA Chief Administrator Goldin is red-faced and is threatening to bill the Russians for lost time on the station. The American crewmwmbers have a Russian commander and have welcomed the American visitor. Mr. Tito has promised to promote space tourism on his return. Reports from Houston are that the crew is doing fine and are enjoying the rest with their visitor after a hectic schedule during the shuttle docking last month.
Mr. Tito pays up after he lands safely to the tune of $20 million. If this and other reports are correct, that $20 million will pay for two Soyuz crew return vehicle changeout flights.
Pacific Gas & Electric (PG&E) has filed for reorganization under Chapter 11 of the Bankruptcy Code. PG&E was probably the largest buyer of power on the open market. The high spot prices coupled with user rates set by Public Service Commissions led to cash flow inbalances. PG&E is only the first such casualty.
California will continue to have power problems. In fact, power shortages will crop up in other parts of the country. New ways to generate power are needed to satisfy the ever-growing demand for electricity. Conservation and efficiency will become new ideas again. President Bush has issued an Executive Order for all Government facilities in California to reduce power consumption by 2%.
The high costs for fuel, which power the generating stations and make our automobiles run, will continue to drag on the economy. To "correct" this the Federal Reserve eased rates again, this time unexpectedly and a full 0.5%. There remains a possibility they will ease again. A herd of Bears can be heard thundering down Wall St.
Funny thing is, one of the key indexes the Fed and Mr. Greenspan watch closely is the Wilshire 5000. Yes, this is the index our space tourist invented, the one that made him rich enough to buy a $20 million ride.
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ON THE LIGHTER SIDE
A businessman on his deathbed called his friend and said,
"Bill, I want you to promise me that when I die you will
have my remains cremated."
"And what," his friend asked, "do you want me to do with
The businessman said, "Just put them in an envelope and
mail them to the Internal Revenue Service and write on
the envelope, Now you have everything. "
A fellow bought a new Mercedes and was out on an interstate road for a nice evening drive. The top was down, the breeze was blowing through his hair and he decided to open her up. As the needle jumped up to 80mph he suddenly saw a flashing red and blue light behind him. "There ain't no way they can catch a Mercedes," he thought to himself and opened her up further. The needle hit 90, 100 110 and finally 120 with the lights still behind him.
"What in hell am I doing?" he thought and pulled over.
The cop came up to him, took his license without a word and examined it and the car. "I've had a tough shift and this is my last pull over. I don't feel like more paperwork so if you can give me an excuse for your driving that I haven't heard before you can go!" "Last week my wife ran off with a cop," the man said, "and I was afraid you were trying to give her back!"
"Have a nice night", said the officer.
Two women were paired together as partners in a club tournament
and met on the putting green for the first time.
After introductions, the first golfer asked, "What's your handicap?"
"Oh, I'm a scratch golfer," the other replied.
"Really!" exclaimed the first woman, suitably impressed that she
was paired up with her.
"Yes, I write down all my good scores and scratch out the bad ones!
A QUOTE FOR YOUR THOUGHTS
"Men occasionally stumble over the truth, but most of them pick
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