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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jan 13, 2002
Page
23
Archer Daniels Midland Co. will shut its Des Moines flour milling plant citing weak economy and overcapacity. Shipments end Jan. 17, ending 85 years of flour production and leaving 40 workers unemployed. Company officials provided no further details.
Patricia Russo, 49, a former Lucent insider, is named president and CEO of Lucent Technologies. She rejoins after leaving in 2000 for Eastman Kodak, replacing interim CEO Henry Schacht who will remain nonexecutive chairman. The move comes as Lucent reports a large quarterly loss amid a sustained industry downturn.
In a profile of Kenneth Lay and George W. Bush, the two men’ s long association spans business politics and baseball. Lay called Bush a supporter while Bush denied close personal ties as Enron’s collapse spurred scrutiny of their friendship and influence.
William Clay Ford Jr. fought through a rough start as chief executive, announcing a plan to cut 35 000 jobs from Ford Motor, slash 5 000 white collar positions, overhaul top management, and settle age discrimination suits as part of a broader turnaround. He apologized to 345 000 employees and pledged to forgo his pay for the coming year.
The Amtrak Reform Council voted 8 to 1 to recommend opening the interstate rail system to private competition. The plan would split Amtrak owned tracks stations and policy authority among state federal and private entities with Amtrak competing or being replaced. Congress awaits a final version due February 7 before deciding Amtrak's fate.
Government data show winter wheat plantings down to 41 million acres, the lowest since 1971, with Kansas Nebraska South Dakota and Washington all reducing. A 1996 law ending farm controls pushed growers toward more lucrative crops like soybeans, which yielded about 105 per acre in 2000 versus 37 for wheat. Prices rose to 2.80 per bushel as total output remains large enough for half to be exported.
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