Business Services Industry
Standard & Poor's 500 Index to Replace AMR Corp.
Knight Ridder/Tribune Business News, March, 2003
By Bill Deener, The Dallas Morning News Knight Ridder/Tribune Business News
Mar. 12--AMR Corp., parent of American Airlines, will be removed from the Standard & Poor's 500 index, officials of the index said Tuesday.
Shares of the financially strapped airline have been steadily declining, from a high of almost $30 early last year to a close Tuesday of $1.59. A 34 percent drop on Tuesday apparently was the last straw for index officials.
"We have been watching this stock over the past few days, especially today, and at this level we were concerned and felt we should act," said
David Blitzer, chairman of the S&P 500 index committee.
A nine-member committee voted to replace AMR in the index with Apartment Investment &...
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