Tyson Foods Reports Third Quarter Profit Rise On IBP Purchase
Tyson Foods, the world’s largest meat producer, posts a 107 million third quarter profit aided by the IBP Inc acquisition. Earnings reach 30 cents a share versus 9 cents a year ago on 19 million dollars. The firm guides 24 to 28 cents for Q4. Chairman John Tyson says results meet per share targets amid challenging times.
MENTIONED IN THIS ARTICLE
Tyson Foods
IBP Inc
Tyson
John Tyson
Parent firm of Ryder files for Chapter 11 protection
The Budget Group Inc., owner of Budget Rent-A-Car and Ryder rentals, filed for Chapter 11 in Wilmington Del. amid a post September 1 travel drop. The Daytona Beach based firm lists assets of 4.05 billion and debts of 4.33 billion, with operations expected to continue for customers and franchisees.
MENTIONED IN THIS ARTICLE
Budget Rent-A-Car
Ryder Truck Rentals
Budget Group Inc
U.S
Wilmington
Del
Daytona Beach
WorldCom names CFO and restructuring chief
WorldCom named John S. Dubel as chief financial officer and Gregory F. Rayburn as chief restructuring officer as the telecom firm seeks to reorganize its debts and operations. Nasdaq announced it will delist WorldCom and its MCI unit, effective today, due to bankruptcy and failure to meet public filing requirements.
MENTIONED IN THIS ARTICLE
WorldCom
John S. Dubel
Gregory F. Rayburn
Telephone and Internet Service
Bush to sign penalties into law on corporate fraud
President Bush prepared to sign a major corporate responsibility bill with penalties for violators. In a South Carolina speech he warned CEOs who fudge books will be found and held to account. A large ceremony with Congress and Justice and SEC officials aims to restore market confidence and bolster Republicans amid a weak economy.
MENTIONED IN THIS ARTICLE
Bush
South Carolina
Congress
Washington, D.C
Justice Department, Securities and Exchange Commission
Financial Crimes
Swat Team
Birch Telecom files for bankruptcy protection in Missouri
Birch Telecom Inc. filed for Chapter 11 bankruptcy protection in Kansas City citing industry downturn. CEO David E. Scott said a prepackaged reorganization would cut debt from 310 million to 100 million, with banks forgiving 95 million of 195 million in debt for 80 percent ownership. Bondholders gain 20 percent equity, while many shareholders lose. Operations to continue, with 1,200 employees and 2002 first quarter losses of 2 million versus 30 million a year earlier.
MENTIONED IN THIS ARTICLE
Kansas City, Mo
Birch Telecom Inc
David E. Scott
Birch
Delaware
Scott
Kohlberg
Kravis Roberts and Co
Kansas City
Sunflower State Games move boosts Topeka sponsorships
Topeka hosted the 13th Sunflower State Games with 6,400 participants over two weekends, up about 7 percent from 2001, aided by about 75 000 dollars in corporate sponsorships. Lawrence hosted the event for 12 years, but Topeka offered stronger financial backing and hotel demand stayed high.
MENTIONED IN THIS ARTICLE
Topeka
Lawrence
Richard Konzem
Kansas University
Topeka Capital Journal
Vince Frye
Sunflower State Games Board of Directors
Konzem
Troy Roberts
Dominique Hulum
Hulum
Investigators Examine Enron Merrill Lynch Ties in Nigeria Deal
Congressional investigators scrutinize Enron Corp nonbankrupt ties with Merrill Lynch & Co, alleging Merrill participated in deals masking Enron's true finances. The DOJ probes a Nigeria barge sale to an offshore Merrill entity to spur a $12 million gain, with a Merrill official invoking the Fifth Amendment at a Senate hearing.
MENTIONED IN THIS ARTICLE
Washington
Enron Corp
Merrill Lynch & Co
Enron
Justice Department
Nigeria
Merrill
Merrill Lynch
William Halldin
Halldin
Missouri side cities surge in housing permits
Price drives homeowners to Missouri side as Kansas City area cities gain in single family housing permits. Kansas City Missouri surpasses Olathe for most permits, Lee's Summit rises to third ahead of Overland Park, with Jackson County briefly leading Johnson County in total units. Average new home prices vary by county, with Johnson County around 278000, Jackson County about 187000, and Clay and Ray counties near 182000.
MENTIONED IN THIS ARTICLE
Kansas City
Kansas
Missouri
Lee's Summit
Overland Park, Kan
Jackson County
Johnson County
Kan
Tom
Riederer
Independence Council For Economic Development
Clay
Ray
Also Mentioned on This Page
Ryder
Telecommunications WorldCom
Birch Telecom
Sunflower State Games
Roberts
Frye
Richard Forester
Topeka Convention and Visitors Bureau
All of
Chad Lawhorn
Journal-World File Photo
Price