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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 11, 1993
Page
8
U S government data show May wholesale prices flat, easing fears of rising inflation. Food and energy costs fell, while core prices rose 0.2 percent. Retail sales in May rose a mere 0.1 percent, tempering expectations and offering the Federal Reserve room to hold rates steady amid a slow economic rebound.
Midland Elevator lists prices for wheat corn milo and soybeans. St Joseph and Omaha issue hog cattle and calf quotes with declines. Kansas City reports cattle and calves sales activity and weights. New York stocks rise on inflation news with the Dow up 11.07 and bank shares active.
AP report from Kansas City notes Sprint Corp loses top official Ron J. Ponder who resigns as executive vice president and chief information officer to join AT&T as senior vice president. New president John Frazee Jr. retires from Sprint amid Centel merger integration. Frazee had led Centel as CEO. Earlier Kathleen M. Hughes resigns as VP of corporate communications to join Grand Metropolitan.
Kuwait rejects OPEC's 10 percent quota rise and plans to increase output by over 500,000 barrels per day in coming months to cover Gulf War costs. OPEC members, led by Saudi Arabia, maintain a 23.6 million barrel daily ceiling through September as prices slip to about 19.28 a barrel. Kuwaiti Oil Minister Ali al-Baghri voices deep regret and distrust of future promises.
Hallmark Cards plans a new product line recording and replaying voice messages. The first item, tree ornaments at about 35 dollars, will be sold nationwide in 5,000 Hallmark stores by October. The plant is in Lawrence and the line spans ornaments to greeting cards.
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