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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Sep 12, 2002
Page
6
Trading on 9 11 Wall Street marked the first anniversary of the terror attacks with remembrances and subdued activity. Stocks closed lower after an earlier rally as a memorial service delayed and then ceremonies took place near the World Trade Center site. The Dow ended down 21.44 points at 8,581.17.
Nearly 1,500 Boeing employees at Ridley Park Pennsylvania voted to strike early Saturday unless Boeing improves on a Sunday contract offer. About 98 percent backed the action via United Aerospace Workers Local 1069 led by John DiFrancisco. Boeing spokesperson Madelyn Bush cited no talks scheduled but did not rule out further negotiation.
Lady Baltimore Foods Inc a Kansas City Kan wholesale firm with institutional customers in six states plans to sell its assets to U S Foodservice of Columbia Md. The sale price was not disclosed and job losses for about 400 workers are expected as the Kansas City facility would close The deal is slated to close in about two months Lady Baltimore markets over 14000 food items and kitchen supplies to institutional customers in six midwestern and plains states
Tyco International hires David FitzPatrick, former United Technologies CFO, as chief financial officer. He cites CEO Edward Breen’s push for strong governance as pivotal. Breen has been restructuring after Dennis Kozlowski’s resignation ahead of criminal tax evasion charges.
The Federal Reserve survey shows manufacturing weakness and weak orders with retailers reporting disappointing back to school results. It notes little employment gain and mixed regional experiences, signaling possible rate cuts but likely holding rates at a 4 percent target unless unemployment spikes, amid cautious optimism from some Fed leaders.
New home prices in Lawrence have slipped for the first time in years. Douglas County Appraiser data show January through August averages down about 2 percent to 184,760, while KU researchers report a larger 12 percent quarterly fall to 202,689 for a 2,400 square foot, three to four bedroom, two bath home. Local real estate professionals call it a buyer friendly shift amid a broader market slowdown.
Airports and train stations were quiet as Americans nervous about flying on the Sept 11 anniversary. Northwest and American flights carried fewer passengers while Amtrak delayed trains between New York and Washington. Enterprise rental bookings rose and Spirit offered 13,400 free tickets to spur travel after many no shows.
ConAgra Foods Inc subsidiary challenged Farmland Industries sale of a Mississippi fertilizer warehouse to American Plant Food during bidding. Farmland, in Chapter 11 since May, plans to sell or lease plants, including an inactive Lawrence nitrogen facility, to raise funds. Judge Venters weighs whether to hold a hearing as bids risk being overturned.
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