WorldCom may cut 2300 jobs amid cost overhaul
MCI WorldCom plans layoffs of up to 2300 workers as part of a broad effort to slash expenses by 2.5 billion dollars next year. CEO Bernard Ebbers emphasizes rapid cost cuts while signaling eventual job growth to meet demand from large corporate customers. Crude oil futures slide to 12-year lows below 11 dollars per barrel as heating demand and a supply glut shape energy markets.
MENTIONED IN THIS ARTICLE
MCI WorldCom Inc
WorldCom
Bernard Ebbers
New York Mercantile Exchange
U.S
Farmland plots rapid growth with new alliances
Farmland Industries plans major expansion over the next 18 months with anticipated alliances and acquisitions after its annual meeting in Kansas City attended by more than 3,000. President Harry Cleberg called the move a challenge and fun as the company positions for market demand. Separately, the Labor Department reported unemployment claims rose by 1,000 to 314,000, with the jobless rate dropping to 4.4 percent.
MENTIONED IN THIS ARTICLE
Farmland Industries Inc
Harry Cleberg
Farmland
Cleberg
Kansas City
Labor Department
Asia
Aetna Buys Prudential HealthCare Unit for 1 Billion
Aetna Inc. pays 1 billion dollars for Prudential HealthCare, becoming the largest managed care company with about 22.4 million covered lives and 18.4 million members. The deal may boost pricing power and prompt job cuts for Prudential HealthCare, while Aetna expands to offer more doctors and hospitals.
MENTIONED IN THIS ARTICLE
New York
Aetna Inc
Prudential Insurance Co
Aetna
Prudential
Hartford
U.S. Healthcare
Nylcare Health Plans
New York Life Insurance Co
Market brings Mediterranean to city storefront
Jordanian-born American citizen Mohammed Alzaiti opened a Mediterranean grocery in Kansas City area earlier this year. He reports surprising demand from Americans including Chicago and New York natives and students. The shop offers lamb and goat meat, Turkish coffee, pita, hummus, spices, olives, and cookware, with rising orders from local restaurants.
MENTIONED IN THIS ARTICLE
Mohammed Alzaiti
Alzaiti
Chicago
New York
Kansas City
Kansas University
Iowa
Commodity and livestock market report from Missouri and Nebraska
Market data from multiple elevators shows Wheat at 2.69 to 2.74, soybeans at 5.28, milo near 1.65, corn around 1.85 to 1.90, with USDA loan deficiency noted. Hogs mostly steady to lower across various weight classes, cattle and calves reported none, Kansas feedlot sales slow with 112,700 head week to date, slaughter steers and heifers around 60.00 per cwt, metals prices mixed with copper and aluminum posted. Livestock quotations from St Justini and Omaha reflect slow demand and steady to weak bids, futures and spot prices cited.
MENTIONED IN THIS ARTICLE
Farmer’s Cooperative Assn
South Elevator
Milo
Midland Elevator
North Elevator
USDA
St. Justini
Kansas
Earnings jitters hammer U S stocks
U S stock markets fell as investors priced in earnings warnings and Clinton impeachment risks. The Dow slid 167.61 points to 8841.58, while the Nasdaq dropped 34.46 to 2015.96.. Microsoft and Intel fell as Ericsson warned profits would lag due to the Asian crisis, and major techs faced profit fears amid a volatile week.
MENTIONED IN THIS ARTICLE
New York
Clinton
New York Stock Exchange
Ericsson
Microsoft Corp
Intel Corp
International Business Machines
Conley Turner
Wall Street Strategies
Coca-Cola Co
Merck & Co
J.P. Morgan & Co
Also Mentioned on This Page
Dow Industrials
S&p
Treasury
MCI WorldCom
Richard Huber
Huber
Newark
N.J
Suite D
Phillips 66
Richard Brack
Fbrack
Jjworld.com
Richard Gwi
Mediterranean
Dilbert
St. Joseph Livestock
Dodge City Livestock
N.Y
Handy & Hareman
Handy & Hanman
Omaha Livestock
Omana
Neb
Usb
Omaha
US 1
London
Wall Street
Washington
Coolidge
Jayhawk Club
Clye Cirp
TOR Ones
Rinvesimente
Mortgag
Lawrence, KS
Jack Gillesp
Liz Karr
E. 9Ti
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