Kmart reports 93 million profit amid sales drop
Kmart Holding Corp. posted 93 million dollars in net income for its fiscal first quarter ended April 28, the second consecutive profitable quarter since exiting bankruptcy. Despite the gain, same store sales continued to fall. Shares rose 4.32 dollars to 48.62 on Nasdaq. The Troy Michigan store and Lawrence distribution center are noted. Separately, a Forrester Research report projects about 830,000 U.S. service sector jobs to move offshore by 2005, driven by cost savings and widespread publicity.
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Kmart Holding Corp
Kmart
Lawrence
Jorell Lawrence
Pontiac
Mich
Troy
India
China
Russia
U.S
Forrester Research Inc
Forrester
John C. McCarthy
McCarthy
Midwest
Lowe's profits rise on big ticket sales boost
Lowe's Companies Inc. reported an eight percent rise in first quarter earnings as sales of big ticket items improved. The home improvement retailer posted profits of 455 million dollars, 57 cents a share, up from 421 million dollars, 53 cents a share a year earlier.
MENTIONED IN THIS ARTICLE
Lowe's Companies Inc
Kansas Ethanol Plants Form New Trade Group
Kansas six ethanol plants create the Kansas Association of Ethanol Processors to boost industry visibility with the public and policymakers. Topeka firm Midwest Management Solutions will manage the group, with Tom Tunnell elected president.
MENTIONED IN THIS ARTICLE
Kansas
Kansas Association of Ethanol Processors
Midwest Management Solutions
Tom Tunnell
Lawrence sees slower housing starts amid scarce lots and outflow
Lawrence builders started 86 homes through April, a 20 percent drop from 104 last year and below the five year average of 111. Limited available lots curtail activity as some builders move to Topeka Baldwin Gardner or Eudora. Delores Hughes notes a few locals own most available lots and smaller builders struggle to find sites.
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Lawrence
Delores Hughes
Hughes Construction Inc
Hughes
Bob Hughes
Topeka
City
Bob
Baldwin
Gardner
Eudora
Lawrence sees 20 percent drop in new single family permits
A city report shows permits issued for new single-family homes through April in Lawrence declined by 20 percent versus the same period last year. The summary analyzes how this year's figures stack up against prior years and highlights the trend in housing activity.
MENTIONED IN THIS ARTICLE
Lawrence
OPEC urged to boost output amid oil price surge
Oil prices climbed near 42 a barrel as markets weighed Saudi backed OPEC output target increases and analysts urged real volume gains. US gasoline averaged over 2 per gallon for the first time, while OPEC faces pressure to tap spare capacity amid Middle East turmoil and Iraqi Governing Council head’s assassination.
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London
OPEC
Energy Department
U.S
Organization of Petroleum Exporting Countries
Saudi Arabia
Amsterdam
Nymex
Iraq
Middle East
Khaled AL Otairy
Aramco
al-Howta
Howta
Late freeze hits Kansas wheat crop in vulnerable bloom
In Kansas a unseasonable freeze threatens wheat at flowering, with 90 percent headed and drought stressing fields. Ray Crumbaker of Brewster reports damage ranging from color changes to potential losses, while state data show 35 percent in poor or very poor condition and 30 percent fair. Weather officials cite low 20s to 30s in western Kansas amid dry conditions increasing freeze risk.
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Wichita
Kansas
Brewster
Ray Crumbaker
Crumbaker
Kansas Agricultural Statistics Service
Mary Knapp
Hays
Dodge City
Garden City
Goodland
Colby
Tribune
Grant County
Wichita County
Knapp
Kass
SEC Fines Lucent 25 Million in Fraud Settlement
The Securities and Exchange Commission fined Lucent Technologies 25 million dollars and charged nine current and former executives along with one former Winstar official with securities fraud related to accounting irregularities. The agency alleged about 1.1 billion dollars in revenue was fraudulent in 2000. Lucent, based in Murray Hill New Jersey, did not admit or deny wrongdoing. Lucent chairman Patricia Russo said the firm has strengthened controls and disclosures and is closing this chapter.
MENTIONED IN THIS ARTICLE
Washington
Lucent Technologies Inc
Securities and Exchange Commission
Winstar Communications
Lucent
Newark
SEC
Murray Hill
N.J
Patricia Russo
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Lowe's
Energy State
Clawhorn
Liworld.com
Leo Drollas
Center For Global Energy Studies
New York
New York Mercantile Exchange
Brent
International Petroleum Exchange
The
Secret Society OF Executive Secretaries
Connie
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