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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 06, 2004
Page
15
The Walt Disney Co introduces a personal computer and flat screen monitor to its electronics lineup. The Disney Dream Desk PC with games mouse digital pen and CD DVD drive will retail for 599 dollars with the monitor at 299 dollars. Unveiled Thursday in New York, the set adds to TVs DVD players and other Disney products launched over the past two years.
Goodyear Tire & Rubber Co reports a $25.1 million profit for the June quarter, the first since 2002, with $4.5 billion in sales. Shares jumped about 5 percent. Chairman Robert Keegan cites cost cuts and better dealer relations as drivers of improvement.
Aquila Inc based in Kansas City reports a second quarter loss of 43.3 million dollars or 0.22 per share, narrowed from 80.6 million dollars a year ago. Quarterly sales totaled 335.3 million dollars versus 367.4 million a year earlier. The firm operates as a natural gas provider in Lawrence.
A former Enron official John Forney, 42, pleaded guilty to manipulating energy markets during California's power crisis. The third Enron executive to plead guilty, Forney faces cooperation with the probe and may disclose other firms' roles. The California crisis contributed to Pacific Gas and Electric bankruptcy and higher consumer prices.
Oil price surge sparks broad market selloff as the Dow plunges 163.48 points to 9,963.03 and the Nasdaq and S&P 500 hit yearly lows. Crude closes at a record 44.4 per barrel, up 1.58, amid terrorism fears and Yukos troubles. Investors fear reduced consumer spending and business investment.
Ford kicks off production of the Escape hybrid, the first gas electric SUV from an American automaker. Bill Ford drives the vehicle at the Kansas City area plant as Ford targets 20,000 2005 model year hybrids, citing cleaner emission goals and fuel efficiency.
July retail figures show continued weak demand as consumer spending stayed frugal. Apparel chains like Gap Inc posted declines in same-store sales, while Wal Mart and Target recorded gains. Higher gasoline prices and the end of mortgage refinancing spurred cautious shoppers, with traditional department stores lagging and discounters outperforming.
Wheat and grain bids from Ottawa and Overbrook elevators show Wheat at 3.23, Corn 1.94, Milo 1.79, Soybeans 5.71 with some NA entries. St Joseph reports hog receipts and stated prices. nonferrous metals quotes list aluminum, copper, lead, gold and silver prices from NY and London exchanges.
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