Financial Report With Scott Roulston of Fairport Asset Management

2002 Archive

December 27, 2002

December 20, 2002

December 13, 2002

December 6, 2002

November 29, 2002

November 22, 2002

November 15, 2002

November 8, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the possible economic impact from this week's elections, the Fed's decision to cut rates another, perhaps final, time, and the colossal fall of the OM Group's stock price this week.

November 1, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the actions of New York State's Attorney General, Eliot Spitzer, to curb the influence of investment bankers on their research arms, the market's Second best October ever, and ISG's tremendous success story in the making.

October 25, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the legacy of Al Lerner at MBNA, the loss of Dr. Huntington Willard as Director of the Research Institute at University Hospitals, and the endorsements announced for candidates seeking the become Ohio's next Governor.

October 18, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the meteoric rise in the markets over the past week, the credibility of Republicans in congress on economic issues, and the role of the Cleveland Foundation in bringing more resources to bear on economic development.

October 11, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the Bush Administration's invocation the Taft Hartley Act, the stellar performance of upstart airlines Southwest and Jet Blue, and the hits endowments have taken as the economy has stumbled.

October 4, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the dismal third quarter performance in the markets, the closure the Cleveland Free Times, and the opening the new Peter B. Lewis building at Case Western Reserve's Weatherhead School of Management.

September 27, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the decision by the Federal Reserve to leave interest rates unchanged, the report card on steel tariffs imposed by the Bush administration, and the Family Leave bill passed in California and its potential impact in Ohio.

September 20, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the impact that the potential war with Iraq is having on the stock markets, the little discussed economic term "deflation", and the influence of corporate political contributions in the upcoming elections.

September 6, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the not so hot back to school retail sales, the problems plaguing Japan's banking system, and local buyout firms and their impact on our local economy.

August 30, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the shift in activity from the consumer to the business sectors, the investigation of IPO shares directed to CEO's who reaped huge profits, and the search for a new leader for the County's economic development.

August 23, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the consumer's choice of automobiles as their big-ticket selection, the continued boom in mortgage markets, and the possible improvement in the local economy with the announcement that ISG may reopen its West-side mill.

August 16, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the shivers in the airline industry as US Airways files for Chapter 11 bankruptcy, those jumping on the hedge fund bandwagon, and the phenomenal earning power of the late Elvis Presley.

August 9, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the introduction of a mutual fund, which uses a controversial "shorting" technique, the recommendation by Muriel Seifert to allow greater contribution to IRA's and 401k's to help stimulate the markets, and the Plain Dealer article which claims that former clients of Frank Gruttadauria have shown sympathy for the rogue broker and that they would support his release pending trial.

August 2, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the charges filed against WorldCom executives, the lack of charges in the Enron case, and GE's leadership move to declare stock options as compensation.

July 26, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the arrest this week of Adelphia executives for defrauding investors, the proposed SEC rule changes for Wall Street analysts, and the court decision that allows for jury trial resolution and not arbitration in the Gruttardauria case.

July 19, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the short-lived gains typical of today's market, the overdrawn retirement accounts whose current gains can't keep pace with withdrawal rates possible in recent years, and the fallout from the steel tariffs imposed some months ago by the Bush administration.

July 12, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the battering of corporate CEO's, the bright outlook for local manufacturing company Eaton, and the baseball owner's role in the looming strike.

July 5, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the summer doldrums for all the major indices, the latest fallout surrounding the accounting fraud investigation of WorldCom, and the sale of TRW and the resulting loss to the local community.

June 21, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the downward spiral of the markets despite good news on many fronts, the $100 million dollar gift by Al Lerner to the Cleveland Clinic, the news on the breakup of TRW's business units as it continues to ward of Grumman's takeover efforts.

June 14, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the possibility of a third down year in a row for the markets, the allegations of insider trading swirling around Martha Stewart, and the effects of the scandal on battered investor confidence.

June 7, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the current funk the market seems to be stuck in, the boycott of Cleveland institutions by philanthropist Pete B. Lewis, and cause of the boycott - the board of Case Western Reserve University.

May 31, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the financial woes of media giant Adelphia, the efforts in Columbus to resolve the State budget crisis, and the marketing by Charles Schwab of the compensation model for its brokers that contrasts sharply with other brokers now under investigation by Congress and the SEC.

May 24, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the settlement between the New York Attorney General and Merrill Lynch, the testimony presented to Congress this week concerning the Gruttadauria case, and the move by the Stanley Works to headquarter the company overseas to avoid US taxes.

May 3, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the shareholders meeting today at TRW to decide on the hostile takeover attempt by Northrup, the continue market volitility due to oil prices, accounting issues, and sell recommendations from brokerage houses, and the accouncement this week that, thanks to help from the State of Ohio, Ford will shift prodcution of its most popular SUV to the Avon Lake assembly plant.

April 26, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the release today of the first quarter's GDP, the deafening silence surrounding the inevitable departure of TRW's corporate headquarters, and the continued decline of telecommunications stocks on Wall Street.

April 19, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the flood of earnings being released and the trends they represent, the impact the steel tariffs have made thus far, the ongoing saga of TRW and the takeover bid by Northrup, and the SEC investigation into the improprieties at Merrill Lynch.

April 12, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the shaky ride for IBM's stock this week, the departure of University Hospital's Chief Farrah Walters, and last minute musings on the tax deadline next week.

April 5, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the growing dispute between Mayor Campbell and the County Commissioners over the Port Authority, the continue gloom in the market despite some positive signs, and the tough times facing higher education in Ohio.

March 29, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the positive effect that optimistic consumer confidence is having on the economy, the changes proposed in Congress with regards to stock options and how they are accounted for in Company balance sheets, and the latest Arthur Anderson news where former Fed chairman Paul Volker has offered to oversee the beleaguered firm.

March 15, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the ongoing effort by Northrup to gain control of Cleveland's TRW, the compensation plan offered by Lehman Brothers to former clients of Frank Gruttadauria, and the continuing decline of Arthur Anderson and its possible impact on its local office.

March 8, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the good news from Federal Reserve Chairman Alan Greenspan, the posturing by the nation's trading partners resulting from President Bush's imposition of tariffs on imported steel, and the legal wrangling over the hostile takeover at Cleveland based TRW.

March 1, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the winning bidder of the action held this week to liquidate the assets of LTV Steel, the likely actions to be taken this month by President Bush on steel trade matters, the testimony by Wall Street analysts this week during the congressional hearings held this week on the Enron Corporation, and the bright news for some retailers while others remain mired in bankruptcy.

February 22, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the resignation this week of TRW's CEO who departs for a post at Honeywell, the firing this week of four Lehman Brothers Cleveland employees related to the misdoings of Frank Gruttadauria, the bid closing this week for the assets of LTV steel, and the addition of nearly completed downtown hotel to an already overbuilt lodging market.

February 15, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the passing this week of well-known Cleveland economist Richard Shatten, the postponement of the referendum on the stewardship of Cleveland Public School system by the mayor, the continued dominance of the news by the Enron scandal, and the decision by a Pittsburgh group not to purchase the Galleria.

February 8, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses Governor Taft's initiative to invest $100 million a year for 10 years in the technology sector, the continued moves by large accounting firms to segregate their audit functions from their consulting functions to avoid conflicts of interest, and another financial services fraud announcement by an Irish bank's US subsidiary involving a $750 million dollar loss.

February 1, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the Federal Open Market Committee's move this week which "left things alone", corporate stock ownership in employee 401K plans, Steve Cooper's selection to lead Enron's turnaround, and the continuing investigation by the FBI into the disappearance of Lehman Brothers executive.

January 25, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the "week of shock" for local investors who were clients of local investment manager accused of stealing over $100 million is assets, how investors can protect themselves from such losses, and the prospects for recovery of the losses by local investors.

January 18, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the firing this week of Arthur Anderson by the bankrupt Enron Corporation, the renewed debated concerning the conflict of interest issues when auditing and consulting services are performed by the same firm, the impact of the recession on endowments, and the use of Garfield to promote health insurance for pets.

January 11, 2002
Scott Roulston, CEO of Fairport Asset Management, discusses the reasons for Ford Motor Company's current economic woes, the recent sale of the Galleria at Erieview, and the loss this week of Wendy's corporate leader Dave Thomas.