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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
May 11, 2005
Page
9
Market watch data shows NYSE with 1,073 new highs and 2,222 declines, 133 unchanged, volume 1.89 billion. Nasdaq diary records 1,025 new highs, 2,018 declines, 164 unchanged, volume 1.61 billion. Market totals reflect daily breadth and turnover across both exchanges.
Steven Posey president of Posey Management Corp doing business as McDonalds restaurants Middletown was re elected to the First Financial Bancorp Board of Directors at the annual meeting. Claude Davis the current First Financial president and chief executive was also re elected. Susan Purkrabak Knust managing partner of K P Properties and Omega Warehouse Services joined the board for her first term. Carl Fiora veteran former Armco Steel Co. L P leader retires from the board after since 1987 service.
Gillette Co and Massachusetts Secretary of State William Galvin seek a court ruling on Galvin's authority to obtain more documents related to Gillette's pending sale to Procter & Gamble. A prior ruling limited Galvin's reach, but he seeks broader access while Gillette fights the request.
Jeff Pennington, president of N-Stock Box Inc., recalls a childhood box invention and describes a growing, flexible operation with 50 employees, 145000 square feet, and 60 days of warehousing for customers from one person shops to Fortune 500 firms. His privately held firm has seen 25 percent sales growth in three years and eyes expansion beyond Middletown.
Chiquita Brands International reports first quarter 2005 earnings of 86.5 million dollars or 1.94 a share, up from 19.9 million and 0.46 a share a year earlier. Revenue climbs 17 percent to 932 million with banana sales up 24 percent driven by European and North American demand.
Analysts say Cinergy Corp and Duke Power aim to close a $9 billion merger by summer 2006 but regulators in five states and federal agencies may slow the process. Key questions involve antitrust review, a revived Public Utilities Holding Company Act ruling, and state rate cases in Ohio, North Carolina.
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