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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Mar 18, 2000
Page
15
Iridium LLC abandoned its bid for new backers after more than 80 contacts yielded no qualified offers. A bankruptcy judge allowed de orbiting the $5 billion satellite constellation to burn up in Earth's atmosphere, with service to 55 000 customers to be cut off in coming weeks.
America Online Inc will acquire Bertelsmann AGs 50 percent holdings in AOL Europe and AOL Australia for up to 8.25 billion dollars. Bertelsmann will use proceeds to expand e commerce and content ventures. Payment may be cash or stock after January 31, 2002. The sale follows AOLs planned Time Warner merger.
Major U S carriers matched Northwest Airlines fare increases on Thursday and by Friday evening American, Continental, Delta and United had raised round trip domestic ticket prices by about 40 dollars for business travelers and 20 dollars for leisure travelers who book ahead. US Airways, Trans World, World Airways and America West joined Friday morning, raising the likelihood the increase will hold. Separately, drought fears and dry Midwest forecasts pushed soybean and corn futures higher.
Boeing Co reaches a tentative three year contract to end a 38 day walkout by 13,000 engineers and 1,300 Wichita engineers. The pact awards at least 9 percent wage increases plus 2,500 in bonuses, extends health coverage and drops required employee premium contributions. Union officials cite respect and a stronger company as core outcomes.
Lawrence adviser Don Stephens notes markets surge as KU fans fill the Greensboro Marriott with 110 rooms booked for the NCAA regionals. Chancellor Robert Hemenway cites travel as work, while Dr. Earl Merkel treats it as a vacation avoiding calls home. Merkel hopes to return for April 1 and 3 events.
Sunflower Cablevision, serving Lawrence, earns the National Cable Television Association Community Spirit Award in the small stations category for local origination programming. The World Company says the honor reflects 28 years of locally produced news weather sports and public affairs and will be presented in Washington, D C.
February CPI up 0.5 percent driven by a record energy price surge and higher gasoline costs, with core inflation at 0.2 percent. Analysts expect a Federal Reserve rate hike next week to curb inflation as Wall Street skews mixed despite a weekly Dow gain. The report highlights divergent price trends and calls from economists for a policy move.
Readable market and commodity prices include Farmers Cooperative Assn farm elevator figures for South Elevator Wheat 2.50 soybeans 4.94 milo 1.83 corn 2.05 New York spot metals show aluminum 0.728 per lb copper 0.8055 per lb lead 0.2931 0.3100 zinc 0.5644 0.5694 gold 283.90 284.10 per troy oz silver 5.1200 5.092 per troy oz and oats none listed. USDA loan deficiency payments Wheat 0.28, Soybeans 0.45, Corn none, Milo none, Oats 0.01.
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