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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 28, 2001
Page
13
An increasing number of consumer publications from Seventeen to Food and Wine license products to raise brand awareness and profits during an advertising slump. Eyewear socks and hair accessories are among items licensed under Seventeen by Prime Media Enterprises.
Lawrence manufacturer Martin Logan Ltd will receive a $10,000 Kansas Industrial Retraining grant to boost efficiency at its Lawrence plant. The company will add $13,460 to fund retraining of 80 employees in loan manufacturing principles to reduce floor space and inventories.
Overland Park based Sprint Corp signs three year deals worth about $1 billion each with Lucent Technologies and Nortel Networks to upgrade its next generation wireless network. Lucent will supply base stations and mobile switching centers while Nortel provides networking and radio base station gear.
Tyson Foods will buy IBP Inc for 2.7 billion dollars under the original deal terms after Delaware court approval. The agreement would create a processing giant with about 28 percent of beef, 25 percent of chicken, and 18 percent of pork market share.
The note indicates that the commodities report is located on page 4D of the publication. It provides no additional details or figures in the visible text.
Total Fitness Athletic Center aims to reopen by mid fall in the occupied Plaza Six Theaters building at 2339 Town. Owner Marty Tuley expects to sign a lease next week and take possession by August 1 with a new weight room and cardio rooms by September, totaling 24 000 square feet and about 650 000 in equipment. The plan could force Plaza Six to relocate or close, though Hollywood Theaters manager Ben Moore says no move has been tied to them. The prior location at 901 Iowa in Hillcrest Shopping Center was destroyed by fire in March
Fed chair Alan Greenspan cuts rates for the sixth time this year to 3.75 percent, the lowest in seven years, amid dwindling room for maneuver. Economists warn of limited further relief, with stocks weak and debt burdens weighing on consumer spending and profits.
Bridgestone/Firestone announced closure of the Decatur Illinois tire plant by December 31, cutting about 1,500 jobs. Officials cited economic reasons and high maintenance costs, saying recall fallout reduced demand and not tire quality. Plant opened in 1963 and produced most recalled tires.
GE and EU antitrust officials reportedly discussed a last ditch concession to rescue GE’s 41 billion offer for Honeywell International. GE would divest a minority stake in GE Capital Aviation Services, with fewer Honeywell avionics businesses sold, and outside directors added to GECAS board. Honeywell operates an avionics plant in Lawrence. A final EU ruling was anticipated next Tuesday.
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