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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
May 26, 2004
Page
14
Krispy Kreme, the Winston-Salem chain, posted a first quarter loss of 24.4 million dollars or 38 cents a share, reversing a 13.1 million dollar profit a year earlier. The company warned that low carb diets were hitting results, amid ongoing demand concerns.
Defense Secretary Donald Rumsfeld postponed a decision on the Air Force plan to buy 100 refueling tankers from Boeing by at least six months. The delay follows two studies he ordered and a Defense Science Board critique. Boeing declined immediate comment while signaling it still expects a future contract, though it warned of a possible $310 million charge if rejected.
Consumer confidence edged up to 93.2 in May from 93.0 in April as improving job prospects offset concerns over rising gasoline prices and global political uncertainty. The Conference Board cited strong March and April employment gains as lifting current-condition assessments, though the reading remained below analysts’ 94 forecast.
Eric Sorkin, 55, the first of six former Rite Aid executives to be sentenced, received five months in jail and five months of house arrest after pleading guilty to conspiring to obstruct justice. He faces up to ten years in prison and was fined $5,000 with two years probation.
Wittig and Lake seek court approval to release money from Westar for defense and living costs as they face a 40 count criminal case and an arbitration dispute. They claim annual living expenses total around 296 400 for Wittig and 75 000 for Lake, with both unemployed since December 2002.
AARP and Families USA report brand-name prescription prices climbed 6.5 to 6.9 percent last year, well above 1.9 percent inflation, widening gaps since 2000. They warn higher prices erode Social Security gains and counter Medicare drug-card discounts amid ongoing price debates.
After a four day 13 state strike SBC Communications Inc and the Communications Workers of America reach a five year contract offering higher wages and pensions and job guarantees for more than 100000 union workers. Ratification vote expected in June as workers return to duties amid Wall Street caution on SBC shares.
Commodities markets showed gains for soybeans and corn on Tuesday with mixed moves in wheat while beef and pork futures Softened on the CME. July soybeans rose 16 1/4 cents to 8.82 1/4 a bushel, July corn up 7 3/4 cents to 3.03 3/4, wheat down 1/2 cent to 3.78, oats up 3 cents to 1.52 34. Live cattle and feeder cattle declined with June live cattle at 82.32 cents per pound and August feeder at 1.0435 dollars per pound.
Jean hogs at 74.92 cents per pound. Local grain and soy prices listed from Ottawa, Edgerton, Overbrook, Midland, Lawrence North, Lawrence South, and Pauling elevators with wheat corn milo and soybeans quoted. New York spot metals show gold at 388.30 per ounce and silver at 6.078 per ounce with other indices noted.
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