Greenspan cautious stance tempers upbeat economy
Federal Reserve Chairman Alan Greenspan told Congress that the U.S. economy is slowing to a safer pace but he has not decided if interest rates are now appropriate. He signaled a likely hold at the August 22 policy meeting as consumer confidence and home sales showed resilience and potential acceleration. Separately, BP Amoco and Koch Petroleum Group agreed to a 600 million initiative to cut refinery air pollution and pay 14.5 million in fines, with nine BP Amoco refineries and three Koch units covered. The deal, praised by federal officials as a breakthrough, could pave similar accords with other refiners to curb toxic and smog causing emissions.
MENTIONED IN THIS ARTICLE
Federal Reserve
Alan Greenspan
U.S
Congress
Greenspan
BP Amoco
Koch Petroleum Group
Environmental Protection Agency
BP Amoca
Koch
Wichita
Rosemount
Minn
Corpus
Concorde crash kills 109 on board near Paris
Air France shares fell sharply after a Concorde crash near Paris en route to New York. All 109 aboard were killed, with at least four people on the ground dead. Trading in Paris was suspended as the stock tumbled, closing down 3.5 percent while London listed British Airways shares slipped up to 5.2 percent.
MENTIONED IN THIS ARTICLE
Air France
Paris
New York
Stock Exchange
British Airways
London
Amazon.com CEO and COO resign. Galli to head VerticalNet
Amazon.com Inc. President and COO Joseph Galli resigned after a year to become president and CEO of VerticalNet Inc. Shares fell 2.9 percent on Nasdaq after an earlier 14 percent drop on speculation he would depart. Amazon.com operates a distribution center in Coffeyville.
MENTIONED IN THIS ARTICLE
Amazon.com Inc
Joseph Galli
VerticalNet Inc
Amazon.com
Galli
Coffeyville
Kmart Center to Receive 5 Million Upgrade in Lawrence
Kmart Corp will invest 5 million over the next years to modernize its 1.3 million square foot Lawrence Distribution Center at 2400 Kresge Road. The project adds a new roof, parking for associates and trucks, and a separate entrance, with 450 employees unaffected. The company also plans broader distribution network upgrades and 210 million in annual spending amid store closures and job shifts. The Lawrence center, opened in 1971, ships over 100,000 cartons daily to 115 stores.
MENTIONED IN THIS ARTICLE
Todaro Gwind Journal-Worlo Prove
Kmart Corp
Lawrence
Kresge Road
Jim Harr
Kmart
Harr
Cials
Hart
Lakeview Road
Lawrence Center
Tech firms show profit rebound in mixed earnings
Compaq Computer posts a second quarter profit of 362 million or 21 cents a share as revenue rises on higher priced servers and corporate PC gains. Net income including a 25 million gain reaches 387 million or 22 cents per share. EBay reports 13.2 million pre amortization earnings or 1 cent per share on 97.4 million revenue, beating estimates. Several peers also surpass or miss forecasts with varied results.
MENTIONED IN THIS ARTICLE
Compaq Computer
Wall Street
Ebay
First Call
Thomson Financial
Commodities and livestock prices from regional markets today
Local market updates show wheat and soybeans priced at 4.32 to 4.35 per unit, milo around 1.32, corn near 1.49 to 1.54, with USDA loan deficiency payments listed. Slaughter cattle bids run 64 to 68, with last sale 66, and feeder weights 230 to 290 pounds quoted. Hog receipts estimated 200, with nonferrous metal prices steady, gold at 279.70, silver 5.035, and aluminum around 71.2 cents per pound. Continuous activity noted with light inquiry and demand.
MENTIONED IN THIS ARTICLE
Barners Cooperative Assn
South
Milo
Midland
North
USDA
New York
London
Handy & Harman
Kansas job market hits record despite unemployment uptick
June saw a record 1,428,795 Kansans employed as high school and college students flooded the labor market. Unemployment rose to 3.4 percent from 3.2 as some job seekers remained unable to find work. Douglas County saw 4.1 percent unemployment after KU shutdown.
MENTIONED IN THIS ARTICLE
Toreka
Department of Human Resources
William Layes
June unemployment rates by area counties and cities
The June rates show Douglas 4.1 percent Franklin 3.8 Jefferson 3.2 Johnson 2.2 Leavenworth 3.5 Miami 2.6 Osage 3.3 Shawnee 3.2 Wyandotte 6.2 for counties and Kansas City 6.5 Lawrence 4.4 Leavenworth 4.1 Manhattan 3.3 Shawnee 2.6 Topeka 3.7 Wichita 4.2 for cities.
MENTIONED IN THIS ARTICLE
Douglas
Franklin
Jefferson
Johnson
Leavenworth
Miami
Osage
Shawnee
Wyandotte
Kansas City
Lawrence
Manhattan
Topeka
Wichita
Also Mentioned on This Page
Dow Industrials
S&p
Treasury
Chicago
Chicago Boar of
Oll Close
New York Mercantile
Exc Hatic
Amoco
Kmart Center
Troy
Mich
Town
Kansas
Mark Fagan
Miagan
Jworld
At&t
Chevron
Exxon Mobil
McDonald's
Nortel Networks
Pharmacia
Reebok
Dodge City Livestock
Grey
Kartsas
St. Joseph Livestock
Joseph Mo
Douglas County
Kansas University
Norman John
Chris Chapin
Joel Sauders
Jim Moore
Martha Pierson
CSA
W. 6Th Street
Pade
Igi Frederick
CHA
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