U.S. Sues to Block Lockheed Northrop Merger
The Justice Department filed a lawsuit in Washington to block Lockheed Martin's 8.3 billion acquisition of Northrop Grumman. Officials say the deal would substantially lessen competition in key national defense product markets and is not in the department's best interests. A weekend restructuring offer failed to address objections.
MENTIONED IN THIS ARTICLE
Justice Department
Lockheed Martin Corp
Northrop Grumman Corp
Pentagon
U.S. District Court
Washington
Dow Industrials Hit Pause As Oil Prices Rise Pressures Markets
The Dow industrials paused near 9000 as major oil exporters push prices up, risking higher inflation and weaker corporate profits. Broad indexes were mixed while the American Stock Exchange composite closed at a new record. Ricky Harrington of Interstate/Johnson Lane in Charlotte notes limited selling amid a continued supply demand tilt favoring a rise.
MENTIONED IN THIS ARTICLE
Dow
American Stock Exchange
Ricky Harrington
Interstate/Johnson Lane
Charlotte
N.C
ADM Wins Approval to Convert Bank to Thrift
Archer Daniels Midland, an agribusiness giant, gains permission from regulators to convert a state-chartered bank it runs into a federal savings and loan. ADM faced a 1996 guilty plea for criminal price fixing and must satisfy Office of Thrift Supervision requirements as a condition of approval.
MENTIONED IN THIS ARTICLE
Archer Daniels Midland Co
ADM
Office of Thrift Supervision
Reducing the bite on mutual fund profits
Investors who partially redeemed mutual fund shares last year can trim taxes by using the average cost method. If you do not specify which shares to sell, IRS assumes FIFO, which can maximize gains when funds rise in value.
MENTIONED IN THIS ARTICLE
IRS
Kansans wary as oil price climbs but not yet profit
Kansas oil producers see prices rise from a low near 10.25 to about 16.50 on the New York Mercantile Exchange but say break-even remains near 15 dollars a barrel. Spokesman Don Schnake of the Kansas Independent Oil & Gas Assn notes prices are still underwater at 13.25 and warns gains require real, sustained action. The industry has shed about 20 percent of jobs statewide with roughly 8,000 workers and 10 rigs remain.
MENTIONED IN THIS ARTICLE
Kansas
Don Schnake
Kansas Independent Oil & Gas Assn
Topeka
Kansas Independent
News
Jt & Gas Assn
Schnake
New York Mercantile Exchange
Larry Goldstein
Petroleum Industry Research Associates
New York
Oil exporters pledge cuts to halt price drop
London reports that after a market plunge the world’s top oil exporters vow production cuts to support prices. Traders see prices rising slowly but warn the deal may merely reduce consumer bargains. Analysts say cuts could prove self defeating as producers may overproduce to restore profits.
MENTIONED IN THIS ARTICLE
London
OPEC
Dillons Turmoil Spreads Into Strike Action
Hutchinson AP. Dillon Stores employees at Jackson Ice Cream and advertising units began a strike after weeks of bargaining failed to yield a new contract. Teamsters Local 795, representing workers, noted expired contracts since March 8 and warned of permanent replacements if no work return. Contingency plans were hinted at by Dillon officials.
MENTIONED IN THIS ARTICLE
Hutchinson (Ap
Dillon
Jackson
Teamsters Local 795
Teamsters
Charlie Peaster
Peaster
Hutchinson
Chuck Mosqueda
Dillons
Dennis Gaschler
Gaschler
Mosqueda
Bertelsmann to buy Random House in landmark deal
German media group Bertelsmann AG agreed to acquire Random House, the largest U.S. book publisher, linking Grisham and Crichton titles under one corporate shelf. The price was undisclosed as Advance Publications sells to refocus on newspapers, magazines, and cable TV.
MENTIONED IN THIS ARTICLE
New York
Random House
Bertelsmann AG
U.S
John Grisham
Michael Crichton
Bertelsmann
Bantam Doubleday
Dell
Grisham
Crichton
Norman Mailer
John Updike
Peter Olson
Bertelsmann Book Sige North
America
Time Warner, Inc
Walt Disney Co
BMG Music Club
RCA
Arista
McCall’s
Family Circle
Advance Publications Inc
Advance
Newhouse
New Yorker
Vanity Fair
Winter wheat in Kansas mainly holds firm after storm
Kansas Agricultural Statistics reports winter wheat in mostly good to excellent condition after a snowstorm that dropped up to a foot. As of Sunday the crop was 20 percent excellent, 58 percent good, 19 percent fair and 3 percent poor, with light insect pressure and limited fieldwork due to snow cover.
MENTIONED IN THIS ARTICLE
Topeka
Kansas Agricultural Statistics
Market Report From Dodge City and Surrounding Elevators
Monday commodity prices cover Farmer's Cooperative Assn and Midland Elevators for wheat soybeans milo and corn with bids and last sales. Kansas feedlot cattle prices and week to date totals. St Joseph and Omaha market figures include slaughter cattle hogs and boxed beef trends. steel and nonferrous metals quoted in New York markets.
MENTIONED IN THIS ARTICLE
Farmer's Cooperative Assn
South
Milo
Midland
North
Dodge City
St. Joseph
St. Josep
Also Mentioned on This Page
Dow Industrials
S&p
Treasury
Dow Saids
Richard Brack
Journal-World Business
Black
Iworld.com
Mexico City
San Jose Ixhuatepec
PEMEX
Saudi Arabia
Venezuela
Mexico
Omaha Livestock
Omana
Neo
Uspa
Omaha
N.Y
Handy & Harman
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