Metropolis casino is newest star on Harrah's globe

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It's official now. Player's is out, Harrah's is in.

A globe-lighting ceremony last week celebrated Harrah's Metropolis, Ill., casino as the newest star on the Harrah's Globe.

Mike Crider, vice president and general manager of Harrah's Metropolis, and Tim Wilmott, Harrah's Eastern Division president, participated in the ceremony to officially light the Harrah's globe in front of the all-new casino complex.

The new Harrah's complex includes a remodeled North Star Casino, with a capacity of 1,800 visitors plus crew, two new restaurants -- Range Steakhouse and Fresh Market Square Buffet -- and a new entrance to the $67 million complex.

Harrah's, founded more than 60 years as a bingo hall, has 25 casinos in 12 states.

Grand opening of Harrah's Metropolis continues this week, starting Tuesday and running through Sunday, with a racing-theme program.

Visitors can register for an official Harrah's 500 Pace Car from 9 am. Tuesday through 4 p.m. Sunday. Among racing cars on display Wednesday will be Steve Park's Penzoil Chevrolet, Tony Stewart's Home Depot Pontiac and the Harrah's Indy cars of Donnie Beechler and Eliseo. Autograph sessions will be held with the drivers from 5-8 p.m. Wednesday. Guests will also have an opportunity to register for the 2002 Daytona 500 tickets, and have an opportunity to meet with Harrah's racing legend, Larry Foyt, from 2-6 p.m. Sunday.

Harrah's Metropolis Casino provides 960 jobs, with a payroll of more than $22 million a year, and attracts about 1.3 million visitors year to this small Southern Illinois community of about 7,500.

"We're excited about the changes that have taken place here," said Crider.

Auction for America

$100 million in 100 days!

That's the lofty goal established by eBay.com's "Auction For America," to raise funds following the terrorist attacks on New York and Washington.

People around the country and the world have contributed to relief efforts in countless ways. Many millions of people, however, are still searching for a way to contribute. In conjunction with New York state and city, eBay invites you to join Auction for America -- a unique effort to offer support to those who need it most.

Since the day eBay was founded, millions of people have come together to form a powerful global trading community. The combination of community and the eBay platform presents an extraordinary opportunity to provide relief in the wake of Sept. 11.

eBay's goal is to raise $100 million within 100 days.

Contributions -- through buying, selling or donating cash directly -- will go to benefit work of organizations like the September 11th Fund. No matter how you contribute, eBay and eBay Online Payments will waive 100 percent of all related listing, final value and processing fees to help maximize the impact of your participation.

Persons can donate items to sell, with all proceeds going to the fund.

In order to ensure that 100 percent of your contribution goes to the Auction for America effort, eBay Online Payments, VISA, MasterCard, Wells Fargo and Discover have come together to offer something truly unprecedented for this effort -- fee-free transaction processing online. This extraordinary contribution will ensure that millions of extra dollars go to relief charities rather than to pay processing fees.

In addition to buying or selling in the Auction for America program, you can also give directly to a number of groups. The United Way and The New York Community Trust have established a special fund. Contributions will be used to mobilize resources to respond to the urgent needs of victims, their families, and the communities affected by the events.

Beige Book not a barometer

The Federal Reserve Board's Beige Book, a snapshot look at regional economic conditions taken eight times year, didn't have anything to say about the impact of the recent terrorist attacks.

The report closed out Sept. 10, one day before the terrorist strikes on New York and Washington D.C.

Normally, the report -- compiled from help of business people around the nation -- is widely read as a barometer of regional economies and for clues to the Fed's interest-rate plans.

This time, the report may not be instrumental as a barometer but it will still be useful to know where we were before the attacks, especially in the Eighth District, which includes St. Louis, Mo., Memphis, Tenn., and Little Rock, Ark.

The Beige Book report indicated overall economic activity remained sluggish in August and early September, with several suggesting that activity slowed further. Back-to-school buying gave retailers in some regions a boost in sales, but overall consumer spending generally was said to be flat. Residential real estate markets were described as brisk, strong or steady in most reports, buoyed in large part by low mortgage rates.

By contrast, demand for commercial space reportedly softened further in most districts. Manufacturing activity remained weak in nearly all regions, and the softness appeared to be broad based. Lending activity was mixed. Demand remained strong for residential mortgages, while demand for business loans was flat in most districts as many lenders continued to tighten standards on some commercial loans. Relatively soft labor markets persisted.

Economic ripples from the terrorist attack are now being felt in all regions of the U.S. Among hardest hit areas are those built on tourism, including Florida and Las Vegas. They were holding up best amid a slumping economy before the attacks. But now that air travel has been hobbled by security fears, sharply reduced visits by vacationers and business travelers have dimmed those economic bright spots.

Overall, consumer spending had remained soft in most of the country during August and early September, while upward pressures on retail prices were subdued. Over half of the St. Louis District reports indicated that retail sales were "flat to down."

In the important back-to-school segment, merchants in the Boston, Chicago, and St. Louis districts noted strong sales, while those in the New York, Philadelphia, and Kansas City regions had mixed, less-than-expected, and flat results.

Apparently federal income tax rebates had only a limited effect on spending in August.

Labor markets continued to ease in most parts of the country in August with over half the district reports suggesting soft and/or softening demand for labor. Boston and St. Louis indicated that demand for high-tech workers continued to erode, while Atlanta suggested that potential employers had become much more selective and high-tech job searches had become longer. Staffing agency reports were mixed, but generally pointed to continued weaker demand.

St. Louis, Kansas City and Minneapolis noted a shortage of nurses, and some manufacturers were calling back a small number of furloughed workers.

Following the terrorist strikes, more layoffs have been reported, especially in the airline industry, where thousands of workers have been laid off.

Real estate and construction activity were mixed, as the residential side remained strong, while the commercial segment softened further. Residential sales were relatively steady at high levels in most of the country, even in the Districts that reported slightly softer sales activity -- New York, Philadelphia, and Atlanta. Softness was noted, however, in the demand for high-end homes in some reports, while Kansas City and Dallas indicated that overall home sales were soft in a few high-tech intensive areas.

Hotel occupancy fell in a few regions, leading to decreased room rental rates.

Overall manufacturing activity was weak again, but there were positive signs contained in a few district reports. Virtually all regions reported that new orders and production were weak, and nearly one-half suggested that conditions had deteriorated further.

However, Boston, New York, Chicago, and Kansas City reported that the declines in manufacturing activity appeared to be stabilizing, while Richmond's manufacturing sector expanded for the first time in a year.

Lending activity was reported to be mixed, as household demand for loans remained soft. And, softness was noted in business lending persisted. Over half of the district reports indicated that household lending activity remained relatively robust, with only Boston, New York, St. Louis, and San Francisco reporting a general softening.

Low mortgage interest rates continued to buoy home buying and spur mortgage refinancing in many areas. Banks in one-third of the regions continued to tighten standards on business loans. Deposit increases were noted by Boston, Kansas City, and Dallas, while St. Louis reported a slight decline.

B. Ray Owen is the business editor for the Southeast Missourian.