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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 04, 2004
Page
17
Federal regulators ruled that KFC cannot claim its fried chicken fits popular low carb diets or that its food is healthier than alternatives without scientific evidence. The settlement resolves FTC complaints based on two KFC TV ads. KFC pulled the ads in November.
The Kansas Bankers Association has named longtime staffer Charles "Chuck" Stones as its next president. He will start December 1, replacing retiring Jim Maag after 24 years. Stones, the association’s senior vice president and chief lobbyist, joined KBA in 1986.
MGP Ingredients Inc. board approves a two for one stock split for stockholders of record June 30. Post split about 15.8 million common shares outstanding. Board also approves 5.5 million in capital projects to expand production and packaging for pet and natural products in Kansas City Kansas, with an April 2005 completion date.
The Labor Department reports that U S productivity grew 3.8 percent in the first quarter of 2004 at an annual rate, up from 3.5 percent estimated earlier and above the 2.5 percent pace in Q4 2003. The rise beat some economists’ expectations of 3.7 percent.
Sam's Club, the Wal-Mart unit, announces Web sites for small-business users at 5 dollars monthly. The package includes a basic site a domain name and an email address. A full e commerce site with shopping cart and online payment can be added for 10 dollars monthly per ClickZ News.
Lt governor John Moore announced job growth at a Lawrence ribbon cutting for the Lawrence Employers Center inside the Lawrence Workforce Center. He warned of upcoming worker shortages over the next two to five years while noting aviation, oil, and agriculture sectors boosting Kansas jobs.
OPEC approved a two stage increase to raise output to 25.5 million barrels a day July 1 and 26 million July 1 August 1 amid expectations it will calm markets. Analysts warn U S prices unlikely to fall much due to refinery bottlenecks despite the modest crude price impact. Saudi Arabia urged a bigger immediate rise. officials say the plan aims to address demand, geopolitics, and market fears.
The Census of Agriculture shows 3 percent of farms with annual sales over 500000 produced about 62 percent of U S agricultural output in 2002, up from 56.6 percent in 1997. Farm numbers shrink as land area falls, with 2.1 million farms and 302.7 million acres.
Consumers opened wallets in May amid improving economy and warm weather. Major retailers Wal Mart Costco Talbots Saks and J C Penney posted solid rebounds from April while Sears Roebuck posted larger than expected sales declines. Analysts saw no inflation risk in May results.
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