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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Aug 06, 1999
Page
6
Red Hat intends to sell six million shares representing about nine percent of the company in an initial public offering. Analysts expect the move to signal a string of Linux company IPOs as the Ubstartormauler operating system era expands.
Corning Consumer Products Co. agreed to acquire Ekco Group Inc. for 300 million dollars with a $7 per share cash tender offer from CCPC Acquition Corp. based in Elmira Nashua, subject to shareholder approval, tender open in about five business days and run through September 10.
Travel Services International Inc. posted a quarterly profit of 3.8 million dollars or 28 cents a share for the quarter ended June 30, down 19 percent from last year. Revenue rose 43 percent to 54.8 million dollars due to acquisitions and higher transactions.
Syracuse based Carlisle Cos Inc increases the quarterly dividend on common stock by 12.5 percent to 18 cents a share. It's payable Sept. CEO Stephen P Munn noted Carlisle's 28rd consecutive year of dividend increases, according to staff and news service reports.
Patronia Gamer joined Longley Jones Associates as sales associate after leaving Nastri Real Estate where he was a certified buyer representative. Richard deVito also joined as commercial sales associate from Cornell real estate, aiding the Cornell Business and Technology Park revitalization. Jeff Canniff of Empire Federal Credit Union earned the Boys & Girls Club president's award in Syracuse for three years of board service and club activities. Michael Elliott of Sterns and Wheeler, Fayetteville, was elected president of Clarkson University Alumni Association in Potsdam and serves on the Alumni Board of Governors.
After years of planning, construction begins on a 37 foot dam creating a 24 acre lake near Greek Peak in Cortland County. The $1.12 million project, funded by town state and private investors, includes a marina bath house and 26 acre park, with a potential 150-200 room hotel and conference center to attract year round visitors.
Internet entrepreneur Drew Sikorski plans i2eyenet.com to provide private label Internet service for banks, employers, and associations while offering dial up to customers. The unit will stay behind the scenes as a revenue share portal, subsidizing access for partners and targeting credit unions and firms seeking lower costs. An iZeyephone device will let first-time users browse and email without a computer while serving as a desk phone.
Bankruptcy trustee Breeden plans a second partial payment to unsecured Bennett creditors, totaling about 2.5 percent of amounts owed. About 9,000 investors will get checks this fall, with earlier payments totaling roughly 6 percent. A judge will hear arguments Thursday in Utica.
The Visiting Nurse Association of Central New York Inc. plans to close Home Health Providers Inc by Aug 31 and absorb its 30 employees and 273,675 patient visits into VNA Systems Inc. The merged agency will offer cardiac, long term and mental health home care, boosting options for elderly and indigent patients while citing Medicare and Medicaid reimbursement cuts and documentation rules as drivers.
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