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Daily Herald (Newspaper) - March 23, 2005, Chicago, Illinois Stock listing Obituaries 89 The Market Dow Jones Must Close 1047051 4 7 8 9 10 11 14 15 16 17 18 21 22 NASDAQ 198934 1817 117171 1207 AMEX 146750 349 715897 7023 Big Picture Singapore company to buy Boeing 737s SEATTLE Singapore Air craft Leasing Enterprise said Tuesday that it intends to order 20 of Boeing Cos narrowbody 737s with the option to pur chase 20 more The preliminary agreement is be worth up to billion at list prices Boeing is based in Chicago Alcoa to cut 2000 jobs sell operations PITTSBURGH Alcoa Inc said Tuesday it will cut 2000 jobs over the next year as the aluminum maker streamlines its operations to become more competitive The company is also selling its minority stake in a Norwegian metals and energy group for about million Alcoa has about 131000 work ers in 43 countries Texas sues over access AUSTIN Texas The Texas attorney general sued the nations largest phone service provider on Tues day saying failed to clearly inform customers that its service excludes access to 911 services The action follows a case in which a 17yearold girl was unable to call 911 on her service during an armed robbery in which both her parents were shot Brooke Schulz spokesman for said that customers are informed of the separate activa tion required for 911 service on two different pages on the Web registration form She also said email notifications are sent to customers who fail to activate the 911 service Local Focus Motorola wins two Saudi Arabia pacts SCHAUMBURG Motorola Inc said it has won a contract to build one network in Saudi Arabia and will soon launch services on another The com pany was chosen by mobile operator Co to build a GSM system net work for undisclosed terms The network will offer service via Motorolas Pushto Talk over Cellular Motorola also said Public tions Co in the second quarter will begin offering wireless ser vice over the integrated Digital Enhanced Network Motorola was contracted to build in Saudi Arabia in 2004 Fifth Third increases dividend 9 percent CINCINNATI Fifth Third Bancorp which has its Illinois headquarters in Rolling Mead Tuesday said it increased its cash dividend to 35 cents a share from 32 cents a share a year ago up 9 percent The divi dend is payable April 14 to shareholders of record March 31 The company also said five directors were reelected to three year terms at Tuesdays annual meeting WEDNESDAY MARCH 23 2005 Business SECTION Edge to investors Discount brokers make cuts in fees to lure customers 2 Buyer beware Biotech com inadvertently shipped to US consumers PageS 4 p Citing inflation risk Fed raises rates Ratters WASHINGTON The Fed eral Reserve raised a key US interest rate a quarter percent age point to 275 percent Tuesday conceding inflation risks were growing but express ing confidence gradual rate rises can contain prices The central banks ting Federal Open Market Committee voted unanimously to raise the benchmark federal funds rate which affects credit costs throughout the economy for a seventh straight time since the current campaign began last June The Fed said it could keep raising shortterm borrowing costs at a measured pace implying further modest quar increases instead of larger ones that financial mar kets had begun to brace for But with a subtle shift in wording policymakers made clear they were not complacent about prices and gave them selves leeway to act swiftly if necessary Though infla tion expectations remain pressures on inflation have picked up in recent months and pricing power is more evident The rise in energy prices however has not notably fed through to core consumer prices the Fed said With appropriate monetary policy action the upside and downside risks to the attain ment of both sustainable growth and price stability should be kept roughly equal read the statement outlining the central banks decision which also increased the largely symbolic discount rate to 375 percent Bond and stock prices weak ened as the Fed signaled its intent to keep hiking rates Before the decision financial markets had been particularly focused on how the Fed charac its expectations for future policy movements and some economists had thought policymakers would drop the measured pledge The economys steady advance since the 2001 reces sion has gained pace in recent quarters This has fanned fears of building inflation pressures especially in view of soaring prices for housing commodities and energy In testimony to Congress in Fed Chairman Alan Greenspan described rates as still fairly low signaling no letup in a drive to push them to a neutral level one that nei ther hinders growth nor fosters inflation When the Fed began its grad ual tightening cycle last June overnight rates stood at a 1958 low of 1 percent Even after seven increases the central bank on Tuesday still dubbed them accommodative code mean ing that they must go higher Economists say a neutral fed rate lies somewhere from 3 to 5 percent but policymakers have been loath to talk specifics Motorola hits the road gives customers opportunity to check products By ANNA MARIE KUKEC Daily Herald Business Writer Motorola Inc has been rolling out its latest technology for fire police and emergency workers in a 15city tour that came to Chicago on Tuesday is a daylong free event that started last month in Nashville and will continue to try and lure customers through the year in New York and else where About 100 customers from Illinois Indiana and Michigan attended Tuesdays seminars on security trends and watched demonstrations of Motorola systems that could help improve their communications and streamline everyday work Motorola has maintained a strong relationship with govern ment agencies for roughly seven decades by providing commu and emergency response equipment Now Motorola is promoting its seamless mobility theme where wireless devices all work together for emergency workers Since Sept 11 2001 people are taking a different look at ft ERA I D Mark Lill principal staff engineer for the Mobile Video Enforcer displays the system during las event Tuesday in Chicago is being held in 15 cities where Motorola has been rolling out new emergency workers and other government agencies communications said Motorola spokesman Steve Gorecki Pat Dollard assistant director for technical operations at Northwest Central Dispatch said his 911 emergency call center uses Motorola equip ment The center serves Arlington Heights Buffalo Grove Elk Grove Village Mount Prospect Hoffman Estates Palatine Prospect Heights and Streamwood Motorola has longevity in mis field and they arent going away soon said Dollard One of demon featured Internet Protocol Interoperable Solutions a network that helps emergency responders from dif ferent towns communicate with each other rolled out earlier this year during the Super Bowl in Jacksonville Fla and six sur rounding counties It is a preprogrammed network system that uses technology and helps connect different agencies that respond to an emergency said Tim Brandt Motorola senior staff engineer in Schaumburg Another demonstration showed the Mobile Video Enforcer a 35inch by 2inch digital camera used in police squads to record traffic ters license plates and other information The camera uses a powerful zoom lens and a filtering tech nique that helps it record even the smallest details said Motorola lead engineer Mark Lill Other cameras would just whiteout but this works even in direct sunlight or in dark said JPMorgan to pay million to end lawsuit News JPMorgan Chase Co and its Bank One unit which it acquired last year said Tuesday they agreed to pay million to settle a shareholder lawsuit stemming from the 1998 pur chase of a Chicago bank The dispute centered on Bane One Corps purchase of First Chicago NBD Corp a union which resulted in the creation of Bank One The suit claimed Bane One issued misleading financial statements about its credit card unit First USA in an effort to ensure that First Chicago would agree to the acquisition First USA was not making the money and did not have the profitability that was reported in its financial statements Arthur T Susman a lawyer represent ing the shareholders said JPMorgan said the settlement is a fair reasonable and ade quate compromise of the lawsuit avoids the expense and uncertainty of further Litigation and is not an admission of any fault or liability JPMorgan bought Bank One Corp for billion in July to become the US bank behind Citigroup Inc Hollinger Inc faces criminal probe Inss Federal prosecutors con firmed for the first time Tuesday they are conducting a criminal investigation of newspaper tycoon Conrad Black his former top deputy David Radler and Hollinger Inc The government edged the investigation in court papers in which it asked to intervene in a US Securities and Exchange Commission law suit filed in November against Black Radler and Hollinger Inc The SEC alleges they engaged in a fraudulent and deceptive scheme to take cash and other assets from Hollinger International the parent company of the Chicago and more than 100 suburban dailies and weeklies The government asked to delay until Aug 1 the release of a document that the defendants requested from the SEC to pro tect the integrity of the related criminal investigation Prosecutors requested a hear ing for Wednesday The US Attorneys office wouldnt release details of the document but it said in the court filing that its criminal investigation is of Black who was ousted as CEO of Hollinger International over a year ago Hollinger Inc Blacks per holding company Radler who was former publisher of the Chicago and others relating to their conduct as Hollinger International In short the governments criminal investigation seeks to determine whether the SEC defendants and others have vio lated various federal criminal statutes including conspiracy mail fraud wire fraud securities fraud and interstate transporta tion of funds obtained by fraud the US attorneys filing said Toy industry eager to see what Zizzle executives think of next BY WHITNEY BECKETT Zizzle is the toy industrys ver sion of a band reunion except instead of sex drugs and rock n roll its Giga Pets and Furbys That and they make toys not music but whos counting Zizzle LLC after all sounds like the name of a rock n roll band rather than the name of a toy com pany that opened in January Its a small firm with the con of a larger one and Zizzle will utilize its connections to get dibs on toys and licensing deals that might otherwise fall through the cracks of the billion toy industry Chicago native Roger Shiff man Zizzles president and CEO could easily pass for a former rocker And with applause from the toy industry the reunion of three toy industry bigwigs Shiff man and two longtime associates could be a rock concert Zizzle is a breath of fresh au to the industry and we are delighted to have Roger back in the business said Jeffery Bres low president and CEO of Big Monster Toys LLC Roger is one of the most dynamic marketers in the toy industry and he is in love with the business Now 51 Shiffman began Tiger Electronics Ltd in Vemon Hills in 1978 and sold it 20 years later to Hasbro Inc for million staying on to run it for another three years Roger as a person is a very inspirational passionate excit ing guy and the industry needs that now said Greg Staley former president of the US and divisions of Toys R Us Inc Roger has great rela all the way across the industry from retailers to inventors to licensors even his competitors Shiffman is indeed a celebrity in the toy industry His new Bannockburn office brims with pictures of a slightly younger with brown curls and celebrities like Katie Couric A caricature of the Wolf Man alter ego apparently being carried by a the blockbuster toy he launched in the 1990s and which sold 20 million in the first six months also has prominent wall space Today with a sleek new hair cut and a black polo shirt monogrammed with Zizzles logo Shiffman is back from a threeyear hiatus His former band members two of his righthand people at Tiger would not let him PHOTO u Toy industry veterans Marc Rosenberg left Roger Shiffman and Patty Jackson have reunited to form Zizzle LLC in Bannockburn retire Patty Jackson Zizzles executive vice president of product development and Marc Rosenberg Zizzles chief marketing officer lured their lead singer back for the reunion tour they call Zizzle None of us had to do this we just desperately wanted to We are getting people back together who love to work together and we are very excited Jackson said People in the industry are jumping and Sec TOYS on PAGE 4
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