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Show ' Es The Salt Lake Tribune BUSINESS Friday, April 28, 2000 > lavenorscmieace IPO, with price rising 8% 0n day of ly » near-record vol volume ‘THE ASSOCIATED PRESS NEW YORK — Shares of the new AT&TWireless Group madea strong debut Thursday, offering encouragement for jittery inves: tors, though not quite distracting them from their pi with inflation and interest rates. the open market. és Bell, “AWE,” rose 8 percent fromthe thenew IPO stock of$29.Shoet 360 Wednesday, when AT&T sold mil on of the network equipment Continued from Els , AT&T poe officials hich beamed will useover the = billion of the money to beef up its closely watched by network. for a combined $10.82 billion. The closed at $31.8740n the New York Stock Exchange af. ter peaking at $32.18%. Just short of 125 million shares “We're pleased, particularly in a market,” said Charles Noski, AT&T's chief financial officer. second-busiest day ever for astock wholly owned subsidiary ofAT&T. A day after AT&T pulled off the changed hands on Thursday, the biggest initial public offering in * be sustained as pace made Americans wealthy (8 Sen Be Oe ems iacresse Prompts; = putthem inthemoodiospend. wasted'no time inembracing the millonwassetearterthisyeerby INflation Fears Be heepprepeng wireless “tracking” stock as it hit seencommeny sgenees by ies . rate, the boosted their investment in new The Salt Lake Tribune is a ; ing . at an annual rate of nearly 16 years. ee ean a ee rose in termupted continues to Powered by consumer spending, eae ee increase in percent, theos steepest two years, and up from a 2.9 percent rate in the quarter. first quarter, the increase since the third, quarter of 1994, and upfroma25 rate in the fourth quarter/The pickup reflected prices. Which accounts for two-thirds of ali economic activity. ; Consumer spending rose at an @mnual rate of 83 percent in the first quarter, the largest gain since The U.S. trade deficit, however, continued to be a drag on growth. Imports rose at a rate of9.5 percent in the first quarter, up from a 8.7 percent rate. Exports fell at a 0.2 While slightly wegker than froma59percentrateinthefourth cent rate of increase. _,Firstquarter economic growth, the second quarter of 1963, and up percentrate, down from a 10.1 per- Government Seeks Microsoft Breakup Today video wireless ‘THE ASSOCIATEDPRESS directories WASHINGTON— The Justice Department and 19 states that internet successfully sued Microsoft for antitrust violations worked out last-minute details Thursday to sanctions proposed against the beyond company. Facing a deadline of today, the government and attorneys general are expected to file a single proposal that will recommend breaking up the software giant in two parts to prevent it from engaging in anyillegal behavior in the future. The proposal will be submitted to U.S. District Court Judge Thomas Penfield Jackson, who on April 3 ruled that Microsoft repeatedly violated federal antitrust lawsintended to maintain competition, He found the company used its monopoly power in the operating systems market to crush rivals. Jackson gave the government and the states the option of submitting separate briefs if they failed to agree on a remedy. Despite doubts expressed by some states on the divestiture plan, a single proposal will be filed with the court, according to people close to the talks. “There will be one document which will be the voice for the Department of Justice and virtually all of the states,” said one source, speaking on condition ofanonymity, though “one or two states may choose to put in an appendix or footnotes” to record their differ- Voice Messaging Src hi | iW |ie i] 1] High-Speed DSL ees no Jaws were broken.In an interview earlier this week with The Associated Press, Microsoft _ Chairman Bill Gates said divesti- , . tureofanypart ofthe company he founded 25 years ago would hurt consumers and be “a very inappropriate thing.” New YorkState Attorney General Eliot Spitzer called the recent comments by Gates, along with those by the chief executive officer, Steve Ballmer,“fundamentally distortive.” Microsoft has until May 10 to respond to the government'sfiling but has said it would request an extension. introducing the U S WEST intemet Sale. 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