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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jan 15, 2000
Page
25
Most U S markets and commodity exchanges will be closed Monday in observance of Martin Luther King Jr Day. Trading resumes Tuesday as normal.
Firstar Corp, the 14th largest bank holding company, posts a record 324.9 million in net income for the fourth quarter, up from 279.4 million a year earlier, excluding merger charges. Noninterest income climbs 5.4 percent to 361.4 million, driven by a 17.3 million boost in trust income. Net interest income remains flat at 675.5 million.
Wal Mart announces chief executive David Glass will resign after 12 years, to serve at least a year as chairman. Lee Scott will assume the roles of CEO and president. Glass, 64, plans to pursue baseball and a bid for the Kansas City Royals. The move comes with Wal Mart stock dipping modestly as investors react.
Kansas City business figure David Glass announced his resignation from Wal-Mart as president and CEO yet reaffirmed a commitment to buy the Kansas City Royals. He and Miles Prentice remain the two known bidders after prior rejection by baseball owners, with Glass planning more time for baseball after Wal-Mart transition.
Lawrence Chamber of Commerce names Bill Sepic as president and chief executive officer to start February 21. Sepic, former head of Rochester Area Chamber, plans to build consensus and lead by example, aiming to represent eastern Kansas business interests from the front row of decision making. The 1,350-member group has a $1.2 million budget.
Stock markets rise with the Dow up 140.55 to 11,722.98 as investors react to Intel earnings and Greenspan remarks. Nasdaq gains 107.06 to 4,064.27 and S&P 500 adds 15.47 to 1,465.15. Investors expect restrained rate hikes after Greenspan’s speech signaling no sharp inflation pressure.
Koch Industries plans unspecified layoffs in 2026 to reduce costs amid mega oil mergers. President Joseph Moeller said sizable headcount reductions are inevitable, with first-quarter cuts starting, as the firm faces a $35 million EPA settlement for polluting streams and waterways and marks its 60th anniversary.
Friday market roundup reports Farmers Cooperative Assn South Elevator grain prices Wheat 2.36 soybeans 4.52 milo 1.61 corn 1.82 Midland Elevator prices Wheat NA soybeans 4.55 milo NA corn 1.82 North Elevator prices Wheat 2.35 soybeans 4.57 milo 1.61 corn 1.87 Kansas feedlot sales include 400 head with 400 slaughter steers and 200 slaughter heifers at 69.00 per cwt. New York spot metals list aluminum 74.7 cents/lb copper 64.45 cents/lb zinc 60.00-60.50 cents/lb. silver 5.170 per troy oz.
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