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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jan 29, 1990
Page
7
TOPEKA KPL Gas Service reported a six percent drop in fourth quarter earnings and a nine percent decline for the year, with quarterly profit at 11.8 million or 33 cents per share on 293.5 million in revenue, down from 12.5 million or 34 cents per share a year earlier.
Farmers Co-Op and Midland Elevator report local grain prices including wheat corn mile soybeans and Payment in Kind certificates. NYSE and NASDAQ activity show mixed trends with modest gains for Varity Burlington GE and AT&T and hog market quotations from Kansas City in a Monday price snapshot.
Revco D S Inc plans to divest 712 of its 1,873 stores, mainly in Oklahoma through Texas and several central states, focusing growth on Georgia, Maryland, New York, North Carolina, Ohio, Pennsylvania, South Carolina, eastern Tennessee, Virginia, and West Virginia. Sales await bankruptcy court approval. The firm employs about 26,800 and projects a 230 million earnings charge for the third quarter. A paydown plan follows past LBO financing and Chapter 11 filings by Campeau divisions. Local managers and workers could join buyers’ staffs. Acadia Partners and Robert M Bass Group had been named in a prior bid.
In Houston independent truckers staged informal pickets at eight port entrances and four rail terminals protesting rising diesel prices and low hauling rates. About 100 marchers formed lines while port and railway officials reported some activity but no broad national shutdown. Local groups planned larger participation, claiming potential to disrupt port and rail operations, though organizers and officials indicated a nationwide strike was not underway.
An Agriculture Department think tank through a computer model projects future U S export prospects in Eastern Europe and the Soviet Union. Textiles and high value processed foods lead, with light industrial goods also favored. grain trade may rise for Yugoslavia Poland Czechoslovakia and Bulgaria while the Soviet Union lags. Hungary Poland East Germany push toward convertibility as countries move away from central planning amid political shifts.
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