Farmers Cooperative to Review Chapter 11 Case Tonight
BRIEFCASE Farmers Cooperative Assn plans an informational meeting at 7 p.m. in Building 21 at the Douglas County 4-H Fairgrounds. Attorneys will take questions as the co-op, facing Chapter 11 bankruptcy after missing a CoBank credit line, owes up to 20 million dollars to around 450 creditors and has operated on cash since Sept. 27.
MENTIONED IN THIS ARTICLE
Don'‘Dumler
Coop
Co-Op
Moodie Road
ATT Spins Off Long-Distance Unit Plans Reported
AT T directors weigh a spin off of the consumer long distance business rather than an outright sale. The move would affect about 60 million customers and roughly eight billion dollars in annual revenue. Wall Street Journal reports citing sources.
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At&t Corp
At&t
Wall Street Journal
Gap reports 8 percent drop in September same-store sales
Gap Inc officials said September same-store sales fell eight percent as markdowns trimmed margins and Old Navy inventory backlogs weighed on performance. Total sales for the month ended Oct 2 rose twelve percent to 1.25 billion dollars from 1.12 billion year ago, with Gap and Banana Republic down in the negative mid single digits and Old Navy down in the negative mid teens.
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Gap Inc
Old Navy
Gap
Banana Republic
Lawrence
Pine Ridge Plaza
33Rd
Iowa Streets
Factory orders rebound as demand rises in August
Stronger demand for airplanes and electronics boosted American factory orders by 2 percent in August to $382.5 billion, the third increase in four months. The gain followed a record 8.1 percent drop in July, amid a note that technical problems affected Market in Review tables and stock listings in Wednesday's Journal-World.
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Commerce Department
Journal-World
Firstar to buy U S Bancorp. new name for bank group
Firstar Corp plans a stock swap valued at $21.2 billion to acquire U S Bancorp, creating a merged entity named U S Bancorp based in Minneapolis. The deal, expected to close next year, will affect seven Lawrence branches and a network of about 10 million customers, with signs changing from Mer cantile Bank to U S Bancorp.
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John Grundhofer
Us, Bancorp
Jerry Grundhofer
Firstar Corp
U.S. Bancorp
Lawrence
Firstar
Mercantile Bank
Cantile
Minneapolis
Chuck Warner
Warner
Midwest
Kansas
Missouri
Visa
Southwestern Bell gains Kansas long-distance approval
Kansas regulators vote to allow Southwestern Bell to offer long-distance service, provided it maintains access for competitors. The three member Kansas Corporation Commission backed the bid, noting the company has opened local lines to rivals as required. FCC approval is expected by year end.
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Southwestern Bell
Kansas
Kansas Corporation Commission
Lawrence
Federal Communications Commission
FCC
Shawn McKenzie
Southwestern Bell- Kansas
KCC
John Wine
McKenzie
Texas
Rosemary Foreman
Bell
Market rebounds as investors seek bargains amid tech selloff
On Wednesday blue chips led gains with the Dow up 64.74 to 10,784.48 and the Nasdaq 672.27 to 3,523.10, helped by lower oil prices boosting chemical and airline shares. Dell warned of weak earnings shocking after hours, dragging its price. Boeing rose 1.25 to 61.13 as investors hunt less risky plays and await third quarter results.
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New York
Wall Street
Dell: Computer
Dell
Boeing
Local Markets and Commodity Quotes Wednesday
Farmers Cooperative Assn bought limited grain from open storage with no formal bids. USDA loan deficiency payments listed for corn oats soybeans Milo. cash grain prices 68 to 70 dollars listed, bids 64 to 66, last sale 67 to 67.50. Weekly cattle sales total 81,000 head with 32,200 previously contracted. Metal and precious metal prices in New York and London show small changes with copper at 89.65 cents per pound and gold around 271.35 dollars per troy ounce.
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Hjworld. Com
Piper Jaffray
Larry’ ‘Swinson
Aga
Mass
Try
Buck Warner
Firstar Wrence
Mark Fagan
Standard & Poor
Bob Streed
Northern Select Equity Fund
Dodge City
London Metal Exch
U.S
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