Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

New Homeowners Spend And Spend

You've just shelled out a huge pile of money to buy your dream house, so now you can sit back and rest that pocketbook for a while. Right?

Not! In fact, moving in starts a whopping second round of spending - with the average home buyer spending $6,500 more than normal in that first year, according to the National Association of Home Buyers. All those new appliances and drapes add up.

New home buyers spend 11.63 percent more in the first year after they've bought a house than homeowners who have stayed put, said the group, which culled U.S. statistics on consumer spending. Washington Post

***** Oil Prices Make Leap To A 17-Month High

Oil prices surged to a 17-month high Monday on worry that a 5-week-old strike by Nigerian oil workers will further disrupt Nigeria's crude oil exports.

September crude oil futures closed 25 cents higher at $20.55 on the New York Mercantile Exchange after hitting a session high of $20.98 - the highest level since March 1993. Unleaded gasoline rose 1.26 cents to end at 59.97 cents a gallon. Reuters

***** `King' Gets Disney Crown For Top-Grossing Firm

`The Lion King" has roared into the record books as Walt Disney Co.'s highest-grossing domestic film ever, the company said Monday.

The movie, Disney's latest animated film, has grossed $218.6 million to date in U.S. movie theaters, surpassing the previous record held by "Aladdin," which grossed $217.4 million in its 1992-1993 run in the United States.

"The Lion King" opened nationwide June 24. Reuters

***** Software Firm To Take Fran Tarkenton's Turf

Pro football great Fran Tarkenton will, in effect, move to the sidelines of Corporate America with the sale of his company, KnowledgeWare Inc., to Sterling Software Inc.

Dallas-based Sterling said Monday it would pay $135 million through a stock swap for KnowledgeWare, based in Atlanta. …

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