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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 29, 2000
Page
14
American Eagle Outfitters Inc plans a 45 million distribution center in Lawrence with a 2001 opening target. Vice president Michael Fostyk said construction is delayed by regulatory hurdles and design changes, but the project is not shut and they still aim to be shipping by 2001.
Harvest 15 is nearly 40 percent complete in Douglas County as farmers cope with rain and wet fields. Rick Rathbun of Farmers Cooperative Assn. in Lawrence cites need for lower humidity, heat, and wind. Cutting in Atchison is 25 percent done, Scranton and Edgerton around half. Test weight 59.5, moisture 14.2, protein 11.0. Kansas reports 53 percent No 1 wheat, down from 61 percent last year. Southwestern Bell seeks long distance entry in Missouri pending PSC and FCC review. U S retailer Kmart unveils $100 million ad budget and new campaigns for fall.
The Federal Reserve held rates steady citing tentative slowing growth while signaling possible hikes as soon as August if inflation risks rise. Prime lending rate remains at 9.5 percent, with the funds rate at 6.5 percent. markets pared gains as investors weighed potential future increases. Policymakers noted productivity gains easing price pressures but warned inflation risks persist.
Hereford House, the Kansas City steak institution, plans a 375-seat site at Wakarusa Crossroads Centre in Lawrence. Opening target Oct 1 with 225 seats upstairs and 150 for banquets downstairs, interior work by J Walters Construction aims to upgrade to a Kansas City level, costing up to $2 million.
Oil prices climbing to 25 to 30 dollars a barrel ignite exploration in Kansas. Nineteen rigs active, up from three after a price low, with 714 drill intents filed in five months. KCC and KU officials note crews tight, demand rising, and 6 000 Kansans in the industry poised for gains while last year’s output fell 8 percent to 34 million barrels. Gasoline prices unlikely to drop soon.
Oracle says it hired Investigative Group International to probe Microsoft and trade groups that allegedly shaped opinion during the antitrust case. The probe linked a $1,200 janitor offer to view ACT trash and claimed groups falsely portrayed themselves as independent to aid Microsoft. Microsoft spokesman countered, calling Oracle’s actions inappropriate.
As of Wednesday close Farmers Cooperative Assn lists Wheat and soybeans prices for South Eleva tor and Midland Elevator. North Elevator shows varied Wheat soybeans milo and corn with USDA loan payments for commodities. St Joseph Missouri quotations cover feeder cattle receipts with steers and heifers price ranges, slaughter hogs, oats and lauds of nonferrous metal prices and precious metals notes from New York markets.
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