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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 20, 2002
Page
5
The M M brand announced purple will become the seventh color after an online and phone vote. More than 10 million people in 200 countries participated with purple at 41 percent, aqua 37 percent, and pink 19 percent. Purple debuts with the current colors in August.
Goodrich Corp will purchase TRW Inc.’s aero nautical systems businesses for 1.5 billion in cash as TRW restructures amid Northrop Grumman’s unsolicited takeover bid. Goodrich says the deal expands its product line and growth opportunities. impact on Northrop’s bid remains unclear.
Samsung Electronics Infineon Technologies and Micron Technology confirmed they received subpoenas in a federal criminal antitrust probe. The three firms, together controlling a large share of the $12 billion memory market, said they would cooperate as part of the industrywide investigation.
ImClone Systems Inc says it received a Wells Notice from the SEC signaling possible charges over its handling of an FDA rejection for Erbitux. The FDA denied the cancer drug application on December 28, and ImClone initially downplayed the setback before later disclosures showed greater problems with the submission.
Topeka based Western Resources announced it will start trading as Westar Energy Inc. on Monday. Shareholders approved the name change earlier this month and the stock will continue to trade under the WR symbol on the New York Stock Exchange.
Wall Street extended losses as Apple Apple Computer warned of weaker revenues and profits, AMD fell on a soft outlook, and Ciena warned of lower third quarter revenue. The Nasdaq slid to a new low for the year while the Dow dropped about 144 points and the S&P 500 fell 17 points. Intel also dropped after cutting its Web hosting service and announcing a $100 million second quarter charge.
Lawrence teens participate in Van Go Mobile Arts Summer Benchmark, earning 20 hours weekly at minimum wage while designing a $475 bench for First State Bank & Trust. The nine-week program emphasizes punctuality, communication, and professional client meetings, pairing students with local businesses to gain real world experience and potential bonuses.
The U S Postal Service urges planning as new rates take effect June 30 increasing first class mail to 37 cents. Billions of 37 cent stamps shipped nationwide with five new nondenominated stamps on sale June 7, including a flag and antique toy designs. Additional 23 cent Carlsbad Caverns card and 37 cent stamped envelope released, with later July debut of more denomination stamps and future rate changes.
In Washington the Microsoft antitrust hearings concluded with Microsoft lawyers refusing to offer concessions to the nine states suing the company. Judge Colleen Kollar-Kotelly asked for ranking of proposals and possible acceptance of least onerous penalties, but Microsoft argued the decree was flawed and could not be fixed with wording changes. She will decide later this summer whether to impose sanctions or pursue a federal settlement reached last year.
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