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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 07, 2001
Page
11
Bristol-Myers Squibb is nearing an agreement to acquire DuPonts pharmaceutical business in a deal sized near 7.5 to 8 billion dollars. The talks are fluid with possible rival bids and a public announcement could come in days. The source noted anonymity.
Amtrak won approval from Transportation Secretary Norman Mineta to mortgage parts of New York's Penn Station as collateral for a 300 million loan to cover day-to-day operations through September. President George Warrington said the move is due to a one year delay before launching Amtrak's first high speed service.
Newport News Shipbuilding's board voted unanimously to back General Dynamics Corp. in a 2.1 billion cash offer of 67.50 per share for all outstanding Newport News common stock. The stance cites better and more certain value for stockholders and notes no opinion on a Northrop Grumman bid.
Finland based Huhtamaki owner of Sealright Chinet Packaging Resources and Graphic Packaging consolidates all U S packaging operations under the Huhtamaki name. The DeSoto North America headquarters plant centers three thousand seven hundred employees across thirteen locations as the company completes the consolidation this month.
Seaboard Corp announced Rod Brenneman, who has 11 years with the company and most recently served as senior vice president and chief financial officer of Seaboard Farms, will become president of the park division. He succeeds Rick Hoffman who departed. Based in the Kansas City area, Seaboard is a diversified agribusiness and transportation firm active in pork production, shipping, and global commodity activities.
Hewlett Packard executive briefed investors that the global IT spending slowdown is widening to Asia and Latin America. May sales missed expectations. third quarter revenue guidance narrowed to flat to down 5 percent, with cost reductions and targeted investments in R D and hiring to balance margins amid weaker volumes and a stronger yen.
The Lawrence co op plans to auction store and service station at 1000 E 23rd St and a Gardner retail store. Proceeds pay creditors led by CoBank owed 10.6 million. Equipment and personal property to be sold later. auctions set for June 18 Pauline, June 19 Lawrence Moodie Road, June 25 Atchison.
A coalition led by the Sierra Club and National Trust for Historic Preservation plans to appeal to the Interior Board of Land Appeals before week’s end. They argue the drilling violates laws including the National Historic Preservation Act. Rep. Rahall urged Interior Secretary Norton to stop the project.
Wednesday quotations cover local elevator wheat soybeans milo corn and USDA loan deficiency payments. St Joseph Missouri cattle hogs and feeder prices are listed with receipts and comparisons versus prior day, plus nonferrous metal prices from New York.
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