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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Nov 19, 2002
Page
4
Manpower Inc. quarterly survey projects 10 percent of Lawrence area firms will raise their work force from January to March while 7 percent will cut staff, yielding a net 3 percent increase. Eighty three percent plan no change, down from three months ago but up from a year ago.
Kmart Chairman James B. Adamson called reports of closing 567 stores erroneous and said the firm has not decided how many or where to close. He added the company will close as few stores as possible and aims to fix existing locations, with a decision expected in early January. The article notes Kmart operates a store at 3106 Iowa and a distribution center in northwest Lawrence.
The Boeing Co engineers union in Wichita backed the three year proposal as negotiators did well in the current economy. The package includes salary and pension gains and a 6 percent ratification bonus similar to Seattle terms with minor Wichita tweaks, plus higher employee health care cost sharing. 1,300 Wichita members will vote December 4.
H R Block Inc said it secured about 142.5 million from securitizing future cash flows of mortgage assets from its Option One Mortgage unit. The deal could add 32 to 34 cents per share to earnings in the fiscal third quarter, aboveAnalysts’ 28 cent forecast. The prior third quarter earned 16 cents.
A team at Kansas University has secured a patent on a new technology poised to boost Internet speeds. The invention targets data transfer efficiency and could influence future network performance.
Washington AP report notes 21 percent plan to spend less this holiday season vs 15 percent who will spend more. A CF A and Credit Union National Assn survey of about 1,000 adults cited debt worries, especially among minorities and low income groups, with 46 percent anxious about paying non mortgage debts. Black respondents and lower income earners show higher concern while overall debt totals reach 1.7 trillion, including 700 billion in credit card debt.
Lawrence Job Service owner Mike Brady runs a Lawrence based temporary agency pairing homeless clients with short term work at wages of 750 to 10 dollars an hour. The firm avoids requiring phones or cars, pays daily, and offers 4 hour to several month assignments at 30 to 50 workers per day. Paula Gilchrist of the Salvation Army praises the niche, noting the program supports self esteem and faster cash.
ADT Security Services says it has cut ties with two dealers who are convicted felons and will run criminal background checks on its 515 authorized dealers and key staff. The Wall Street Journal identified five current or former ADT dealers with criminal records, prompting ADT to pledge further terminations and new vetting. Credentials tied to Crime & Fire Prevention Consultants in Overland Park and Alert America of Nashville were dropped amid the disclosures. Tyco stock edged up after the announcements.
United Airlines surged nearly 20 percent after announcing additional layoffs wage cuts and flight reductions to avert bankruptcy. Pilots union approved a 2.2 billion wage savings over 5.5 years with about 95 percent of its 8,800 pilots voting yes. Management staff will add 1.3 billion in savings, part of a 5.8 billion package. Shares rose 18 percent to 3.50.
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