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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 31, 2004
Page
12
Tyson Foods shares dropped over 6 percent after revealing a revised fiscal year outlook. The Springdale company now expects 1.08 to 1.15 dollars per share, down 18 cents, citing costs from plant closures and a charge for reduced beef demand linked to a Washington state mad cow case.
Ottawa University forms a partnership with SEG International BHD, Malaysia, enabling SEG students to enroll in Ottawa’s Bachelor of Arts in Administration. Classes run online by Ottawa instructors. SEG International serves 18,500 students across 14 campuses and six training centers in Malaysia.
Oil futures fell nearly one dollar as saboteur damage to Iraqi oil infrastructure reinforced the view that prices had risen too fast earlier this summer. Light sweet crude for October delivery dropped 90 cents to 42.28 on the New York Mercantile Exchange, near the lowest since July 27 and about 14 percent below the August record settlement of 48.70.
Mylan Pharmaceuticals vows to refile a stronger federal complaint challenging an FDA ruling that forced it to compete with authorized generics. After last week’s arguments the firm seeks broader antitrust questions and had earlier moved to dismiss without prejudice. The case centers on Procter & Gamble selling an authorized generic of Macrobid during a period Mylan claimed it held sole rights to the generic.
Douglas County commissioners approved rezoning for a 159 acre rural estate project along Stull Road near the Shawnee County line. Raeta plans 13 homes on 5 to 12 acre lots with a communal horse barn grazing pastures and ponds priced 500000 to 750000. Planning commission initially rejected the zoning citing distance from Lawrence suburbs.
Seattle researchers describe the persistent dream of a personal flying car, noting decades of attempts and the need for affordable, easy use. NASA and Boeing engineers say the basis exists, but high cost, complexity, and pilot training remain barriers before regular people can fly 200 miles to a meeting and drive 15 miles to a mall.
Interstate Bakeries Corp Kansas City based Twinkie maker misses deadline for its annual report blaming new financial system issues and possible auditor questions about continuing operations. Shares drop 42.3 percent to 4.56 amid heavy NYSE trading as the firm seeks extensions and talks with Alvarez & Marsal and lenders to avert funding shortfalls.
Douglas County real estate activity eased in July with 287 homes sold, down from 317 in June and off 13 percent from July 2003. Lawrence area sales totaled 242, down from 261 and 275 a year earlier as agents noted a temporary market pause before a likely busy fall season.
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