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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Mar 04, 2003
Page
4
Manufacturing barely grows as consumers cut back on spending amid war worries. ISM index falls to 50.5 in February from 53.9 in January, signaling slower expansion and ongoing caution amid geopolitical tensions, a volatile stock market, and higher energy costs.
Samuel Waksal, founder of ImClone Systems and ally of Martha Stewart, pleads guilty to conspiracy and wire fraud over taxes on nine paintings bought in the last three years. He remains free on bail as investigators probe Stewart’s 2001 ImClone share sale and potential securities trading conduct by others.
HCW Development and Branson officials commit to a $300 million entertainment, retail, and convention complex on Lake Taneycomo shores. The project aims for a 2005 finish, featuring a hotel, a 220,000 square foot convention center, and a 90,000 square foot aquarium, likened to San Antonio's Riverwalk.
The parent company Pearson announced profits for 2002 rose 36 percent with pre tax earnings up to 627 million dollars for the fiscal year. Its Pearson Education division, including Lawrence operations, posted profits of 148 million dollars, a 46 percent increase from the prior year.
Picket lines blocked access across Yale University as about 5,000 service, clerical and maintenance workers began a five day walkout. Students joined in, some dining halls closed, and professors shifted classes to coffee shops to avoid lines. Local unions pressed for higher pay and pensions, criticizing Yale’s 11 billion endowment while offering a six year deal with 3 to 4 percent annual raises.
The Mid-American Business Conditions Survey shows Minnesota's index at 54.1 in February, its highest since September 2000, even as drought bites Nebraska, the Dakotas, and Kansas. The nine state Midwest economy remained above 50 for the fifth straight month, with overall growth cooled by drought, war fears, higher energy prices, and slower hiring.
Kansas report shows overall index easing from January and standing at 5.77 despite strong readings for new orders at 69.2 and production at 65.4 and inventories at 53.8. Employment fell to 38.5, signaling firms cut jobs from January levels.
Lawrence McDonald’s is widening its eight year old fund raising program to donate 20 percent of one evening’s sales to area schools. This year more schools and more nights are involved with districts like South Junior High, Central Junior High, Nottingham School and Southwest Junior High set to participate.
In Wichita the annual teen job fairs have been canceled as laid off adults fill summer jobs. James Roseboro says lack of support and the aviation layoffs, totaling over 11 000 since September 2001, hurt teen opportunities. Janet Harrah of Wichita State University warns conditions may worsen as benefits end.
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