May 2003
A May 30 column,
Deconstruction of the Bears, incorrectly said the University of Michigan's consumer sentiment survey published the same day was better than expected. In fact, while the survey showed increased confidence from a month earlier, the result was slightly below economists' consensus estimate.
TheStreet.com
regrets the error.
(Corrected May 30)
A May 28 Detox column,
Softening Dollar a Mess in the Making, erroneously said that the euro area economies had negative real interest rates. In fact, with a recent inflation rate of 2.1% and a benchmark interest rate of 2.5%, the real interest rate is 0.4%.
TheStreet.com
regrets the error. (
Corrected May 29
)
A May 22 story,
Markets Applaud Tax News, incorrectly said shares of
ADC
(ADCT:Nasdaq) closed at $22.85 in that day's trading. In fact, the stock closed down 20 cents, or 0.9%, to $2.85.
TheStreet.com
regrets the error.
(Corrected May 27)
A May 22 column,
More Thoughts on Capital-Gains Tax Cut, was revised after publication. The original introductory paragraph said: "In the most recent economic plan proposal, a capital-gains tax cut to 5% from 20% was mentioned." That sentence was changed because the cut would be to 5% only for those in the lowest income-tax brackets. Everyone else would pay 15%.
TheStreet.com
regrets any confusion. (
Clarified May 22
)
A May 21 story,
McDonald's Shares Battle Back, incorrectly cited a listeria scare at Olive Garden. In fact, the scare involved food sold by
Cheesecake Factory
(CAKE:Nasdaq) to Olive Garden, which is owned by
Darden
(DRI:NYSE)
TheStreet.com
regrets the error.
(Corrected May 21)
A May 15 story,
Tenet Critics Taking Aim at Costly Buybacks, misstated the location of Santa Barbara, Calif. It is in Santa Barbara County, not Orange County.
TheStreet.com
regrets the error. (
Corrected May 15
)
A May 15 Detox column,
Fairfax Is Banking on the Luck of the Irish, overstated the capital at
Fairfax
(FFH:NYSE) subsidiary ORC Re. It was $1.53 billion at the end of 2002, not $2.29 billion as originally reported. Thus, ORC Re's $1.69 billion investment in Fairfax Liquidity Management Hungary actually amounts to 110% of capital, not 74% as originally claimed.
In addition, ORC Re made $241 million of investment income in 2002, not $241 million of realized gains, as incorrectly stated in the article.
TheStreet.com
regrets the errors. (
Corrected May 15
)
A May 12 Alan Farley column,
, incorrectly stated that
Triad Hospitals
(TRI:NYSE) became the subject of a federal investigation last November. In fact the company being investigated was
Tenet Healthcare
(THC:NYSE), not Triad.
TheStreet.com
regrets the error. (
Corrected May 12
)
A May 9 story,
Genzyme to Swap for Tracking Shares, incorrectly said holders of
Genzyme Biosurgery
(GZBX:Nasdaq) will receive 0.04914 of a
Genzyme Corp.
(GENZ:Nasdaq) share, or about $1.92 a share based on Thursday's close, and that holders of
Genzyme Molecular Oncology
(GZMO:Nasdaq) get 0.05653 of a Genzyme Corp. share, or about $2.21 a share. In fact, the ratios apply to a 20-day average of Genzyme Corp. stock price, resulting in slightly lower implied prices of $1.77 for Biosurgery stock, and $2.03 for Molecular Oncology stock.
TheStreet.com
regrets the error.
(Corrected May 9)
A May 7 options column,
Dumb Luck Investor: Betting On Those $1 Stocks, requires clarification. This article appeared on
TheStreet.com
as part of a syndication agreement with Optionetics.com. It was originally posted on the Optionetics site after the close May 1, when
UAL
(UALAQ:OTC BB) ended the day at $1.19. On the date the story appeared on
TheStreet.com
, the stock price closed at $1.90, making the anecdote about UAL stock -- concerning an "under water" stock purchase at $1.50 a share -- appear outdated.
TheStreet.com
regrets any confusion.
(Clarified May 8)
A May 7 column,
Bottom of the Barrel: Greasing Up the Portfolio With WD-40, contained a table with inaccurate data. Shortly after publication, the table was removed.
TheStreet.com
regrets the error.
(Corrected May 7)
A May 6 story,
Cash Burning a Hole in Wal-Mart's Pocket? by Troy Wolverton, incorrectly reported that
Wal-Mart's
(WMT:NYSE) McLane subsidiary had posted three straight years of operating losses.
While Wal-Mart's operating segment that includes McLane has posted three straight years of operating losses, McLane itself has been profitable in those years.
TheStreet.com
regrets the error. (
Corrected May 6)