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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Dec 20, 2001
Page
13
Morgan Stanley Dean Witter & Co reported net income for the quarter ending November 30 of 870 million dollars or 78 cents per share, down from 1.2 billion dollars or 1.06 per share a year earlier. Analysts forecast 66 cents a share. Shares rose 2.23 dollars to 55.79 on the NYSE.
Macy's agreed to widen entrances and aisles in its California stores and to pay nearly 3 million dollars to settle a year old lawsuit by disabled customers. The settlement covers more than 70 stores and sets standards for entrances rest rooms fitting rooms countertops and aisles between departments. Chief Judge Marilyn Hall Patel gave preliminary approval and set a final hearing for February 25.
A Harvard commission formed after student protests proposes large wage hikes for low wage campus workers. It recommends using the $18 billion endowment to fund a $3 million parity wage increase with new rates from $10.83 to $11.30 per hour for custodians security and dining hall staff. Harvard employs about 14,500 people, with roughly 390 workers affected as of September.
Comcast and AT&T agreed to a 72 billion merger creating AT T Comcast Corp. The new company would be led by AT T chairman C Michael Armstrong as chairman and Brian Roberts of Comcast as chief executive. The deal combines AT T Broadband with Comcast, creating a cable giant with over 21 million customers. Regulators will scrutinize the merger amid concerns over market power and open access rules.
National projections show a 2.5 to 3 percent sales rise to about 206 million, signaling worst Christmas since 1990. In Lawrence Sears offers five dollar off candy bar coupons for first 200 shoppers, Weaver's reports stronger December pace without promos, and Chamber head Bill Sepic predicts big year-end rush with five shopping weekends and warm weather dampening urgency. Sepic plans multiple gift campaigns starting in Des Moines and wrapping up in Lawrence.
Commodity quotations from Ottawa, Edgerton, Overbrook, Midland and Pauline elevators list wheat corn milo and soybeans with varied NA entries and prices. USDA loan deficiency payments cited. St Joseph livestock market reports Wednesday receipts, feeder cattle prices by weight, hogs, sows, and boars. nonferrous metals prices from New York and London exchanges.
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