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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 13, 2002
Page
6
About 1500 people attended Lawrence's Reuter Organ Company's first open house at the 1-year-old facility at 1220 Timberedge Road. The event also marked the company's 85th anniversary as five world-renowned organists performed on a newly built Reuter organ for the gathered audience.
Protection One Inc of Topeka agreed to pay 7.5 million to settle a shareholder securities lawsuit. The MOU states no finding of wrongdoing by the defendants, naming Protection One Western Resources Inc and Westar Industries Inc as defendants. The company says insurance should cover the settlement.
Lawrence attorney Charles Branson said McQueens Jewelers closed last week and is returning property left for repair or layaway. He urged owners with items at the 809 Mass location to contact his office for retrieval, noting cases will vary by item and reason for holding.
John Rusnak, 37, pleaded innocent to federal charges accusing him of hiding 691 million dollars in losses at Allfirst Financial over five years. The case, tied to the world’s biggest banking scandal since Barings Bank collapse, centers on yen trading and escalating risk to cover deficits.
Kansas City based H R Block Inc reports record revenue of 3.3 billion for the year ended April 30 with net earnings per diluted share up 52 percent to 2.31 from 1.52. Frank Salizzoni to retire as chairman at the annual shareholders meeting on September 1.
Former ImClone Systems chief executive Samuel Waksal was arrested by the FBI and charged with securities fraud and conspiracy for tipping two individuals to sell stock after learning the FDA would reject Erbitux. The SEC also filed civil charges, alleging he warned relatives who dumped over 10 million dollars in stock. Waksal posted bail and awaits proceedings.
Lawrence based LaGarde Inc a small e commerce software developer plans to raise about 500000 to expand its workforce from 2 to 27 and to move from its 7000 square foot office at 5040 W 15th St into a larger space or relocate to Kansas City CEO Bob LaGarde says the firm seeks a growth friendly community while awaiting signs such as completion of the South Lawrence Trafficway. The company aims to add about 30 jobs over three years and projects 2005 revenues around 15 million.
The SEC moved toward faster broader disclosure after Enron with proposals to publish 8 K filings within two business days and require CEOs to personally certify financial reports. The measure aims to capture off balance sheet transactions and rapid leadership changes while widening the scope of reportable events.
Nine states pressing for stronger antitrust penalties against Microsoft won a pivotal ruling as U.S. District Judge Colleen Kollar-Kotelly said they may pursue penalties nationwide. Microsoft had moved to dismiss, arguing no specific harm to residents and clashing with a November federal settlement. The judge rejected Microsoft’s argument as unpersuasive and denied the motion, with closing arguments set for Wednesday and a late summer ruling anticipated.
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