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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Mar 30, 2004
Page
4
Microsoft trims Xbox price by 30 percent to 149.99 in the United States and lowers Canadian pricing while cutting several game and Xbox Music Mixer prices. Mexico also sees a roughly 45 dollar drop. Sony declines to match PS2 price cuts.
A federal judge refused to acquit four former Qwest executives Thomas Hall Grant Graham John Walker and Bryan Treadway urging a jury to decide their fate on charges they conspired to improperly book 34 million in June 2001 to meet targets. The defendants plead not guilty to conspiracy and fraud tied to a $100 million deal to link Arizona schools to the Internet.
Securities and Exchange Commission regulators opened a formal probe into Tyson Foods Inc regarding benefits and perquisites given to directors and officers. Don Tyson and John Tyson are named in disclosures, and Tyson Foods says it fully cooperates with the investigation and notes ongoing related transactions in its proxy statement.
Lyondell Chemical will acquire Millennium Chemicals in a stock swap valued at $2.3 billion including Millennium debt, creating North America’s third largest publicly traded chemical producer. Millennium shareholders receive 0.95 to 1.05 Lyondell shares per Millennium share, with close anticipated in Q3 2004 pending approvals.
Feist Publications of Wichita agrees to sell its directory business to Yellow Book USA, likely reducing Lawrence's number of published phone books next year. Yellow Book spokesman says plans unclear but two books may merge under one name, possibly Feist or Yellow Book. Local business owners welcomed news, noting three directories were a heavy advertising burden for small shops.
New York designers expand in department stores with Calvin Klein and Ralph Lauren lines offering lower prices while preserving brand prestige. Calvin Klein's Kellwood produced collection features jackets at 250 dollars and skirts 400 to 800, with higher priced designer skirts and pants. Lauren by Ralph Lauren keeps its price points, jackets 230 to 250 and pants 119 to 139, as the industry seeks to lure midrange shoppers back from discounters and prestige retailers. Designers aim to energize the middle market and attract women 25 to 45 with career wear.
A New York judge refused to declare a mistrial in the Tyco case against L Dennis Kozlowski and Mark Swartz. Jurors, including a 79 year old woman scrutinized after an OK gesture report, resumed deliberations after notes requesting a memo and instructions. The panel, now eight days into deliberations, has yet to reach a verdict amid concerns over media coverage and juror impartiality.
Chicago Board of Trade reports May wheat at 4.1014, corn 3.05, oats 1.6834, soybeans 10.13 unchanged. Cattle futures on CME rise with live cattle at .577, feeder cattle at .3, hogs up 1.72 while May pork bellies drop .8. Local elevator quotes show wheat around 3.83 and soybeans near 9.82 to 9.87. New York metals quote gold 421.25, silver 7670, platinum 912.10.
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