Sears Holdings reports $60 million relocation and termination costs
Sears Holdings says restructuring charges tied to its takeover by Kmart could total about $60 million with about $30 million for relocating employees and the rest for termination costs. Final costs depend on how many workers accept relocation offers. Kmart operates a Lawrence distribution center. Sears Holdings formed in March from Kmart's acquisition of Sears Roebuck. Shares rose $8.37 to close at $156.52 on Nasdaq.
MENTIONED IN THIS ARTICLE
Sears Holdings Corp
Kmart Holding Corp
Securities and Exchange Commission
Kmart
Sears
Lawrence
Sears Holdings
Sears, Roebuck and Co
Subway Ends Longstanding Free Sandwich Promotion
Subway will stop its Sub Club promotion amid counterfeit stamps and cards. The chain with over 23 000 restaurants in 82 countries says counterfeiters have harmed sales and caused franchise owners to report fake stamps, ending a program begun in the 1980s that offered a free sandwich after a full eight-stamp card.
MENTIONED IN THIS ARTICLE
Subway
New Vegas Casino Posts Revenue Early At Wynn Las Vegas
Wynn Las Vegas generated 64.3 million dollars in gambling revenue in its first 34 days of operation. The $2.7 billion resort opened April 28 with an average daily room rate of 308 dollars and occupancy at a lower than expected level, according to Wynn Resorts.
MENTIONED IN THIS ARTICLE
Wynn
Stride Rite to Acquire Saucony for 170 Million
Stride Rite Corp plans to buy Saucony Inc in a 170 million cash deal. Saucony had hired an investment bank to explore strategic options including a sale. The purchase will broaden Stride Rite’s offerings with Saucony products and extend the Reds, Sperry Top-Sider, Tommy Hilfiger, and Grasshoppers lines.
MENTIONED IN THIS ARTICLE
Stride Rite Corp
Saucony Inc
Saucony
Stride Rite
Reds
Sperry
Tommy Hilfiger
Grasshoppers
Contact Us Mark Fagan Business Editor Gathers Tips
The notice lists contact details for Mark Fagan, business editor, including phone and email, inviting readers to reach the desk for tips, press inquiries, and business news ideas.
MENTIONED IN THIS ARTICLE
Mark Fagan
Mfagan
World.com
Bush taps Cox to lead SEC amid investor protection debate
President Bush named California Representative Christopher Cox to head the Securities and Exchange Commission. Cox is a conservative with 16 years in the House, chosen to protect investors while not stifling business. The nomination follows William Donaldson’s plan to step down, with confirmation likely to be challenging amid partisan tensions and ongoing corporate scandals.
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Washington
Bush
California
Christopher Cox
Securities and Exchange Commission
Cox
House
William Donaldson
Dur
Ing
White House
Donaldson
SEC
Senate
Reid
Worldcom
Enron
Tyco
Wall Street
Bill Donaldson
Chris Cox
Free lunches boost morale at local business park event
More than 700 employees lined up for free pizza cookies and drinks Thursday at East Hills Business Park as part of the Pizza and Thanks program. Heather Ackerly of the Lawrence Chamber of Commerce said the event recognizes workers and multiple sponsors helped provide the meals.
MENTIONED IN THIS ARTICLE
Lawrence
Sue Hack
Susan Roose Pizza
Sauer-Danfoss
East Hill
Chamber
East Hills Business Park
Lawrence Chamber of Commerce
Heather Ackerly
Sauer-Danfoss Inc
Berry Plastics
Lynn Electric
M-Pact
Eudora
Berry Plastics’ Packerware
Riverside Business Park
Iowa Street
Ackerly
Westar plans spark rate rise with new plants in works
Westar seeks 150 to 200 megawatts from two gas units by 2008 and at least 800 megawatts from a coal plant by 2013 to meet growing demand of about 2 percent annually. The utility has hired a firm to study sites and says rate increase requests to cover rising costs will come later, not including building costs. Westar serves 655,000 customers with 10 plants and a stake in Wolf Creek nuclear facility.
MENTIONED IN THIS ARTICLE
Topeka
David Springe
Citizens’ Utility Ratepayers Board
Westar
Karla Olsen
Olsen
Kansas City, Mo
Lawrence
Wolf Creek
Burlington
Mortgage rates drop to four month low on 30 year loans
Freddie Mac reports a weekly nationwide drop in 30 year fixed rate mortgages to 5.62 percent from 5.65 percent, the lowest since February 10. The trend supports home sales gains in April and May, with economist Frank Nothart cautioning rates may rise later as jobs and wages improve. 15 year fixed rates fell to 5.20 percent from 5.21 percent.
MENTIONED IN THIS ARTICLE
Washington
Freddie Mac
Frank Nothart
Grain and Livestock Futures Sizzle on Chicago Board
Futures for wheat corn oats and soybeans slipped on the Chicago Board of Trade while beef and pork futures retreated on the CME. July wheat at 3.23 1/2, July corn 2.17, July oats 1.37 3/4, July soybeans 6.68 1/2 per bushel.59
MENTIONED IN THIS ARTICLE
Chicago Board of Trade
Chicago Mercantile Exchange
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SHOES
Calif
Associated Press
U.S. Court of Appeals
Harry Reid D-Ney
Thad Allender
al World Photo
Mark Fagan Nfagan
Ljworld.com
Advocate
Kansas Utility
John Hanna
By Martin Cruisinger
Ottawa Cooperative Assn
Ottawa
Milo
Edgerton
Overbrook
Midland
Lawrence North
Lawrence South
Pauline
By Scott Adams
T.S
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