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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jan 17, 2001
Page
4
The company reported quarterly earnings of 37 cents per share, with revenue around 8.7 billion dollars. Analysts polled by First Call Thomson Financial expected 37 cents and 8.21 billion, while the year-ago quarter showed similar figures.
Chiquita Brands International may pursue Chapter 11 after halting debt payments totaling 862 million dollars. Bondholder negotiations aim to craft a restructuring plan this year, with meetings planned to discuss an arrangement. The banana giant cites global surplus and subsidies as factors behind its financial strain.
De Beers and Moet Hennessy Louis Vuitton, the luxury group, will launch a De Beers branded retail jewelry business. The move marks a shift from mining and marketing rough diamonds to direct selling, aiming to capitalize on the famed “A diamond is forever” campaign and strengthen the brand.
Pencabit Bernardo DelSavio of Oswego appointed director of the Academic Support Center at Jayne College overseeing peer tutoring and services for undergraduates and graduate students with disabilities. Sohn J. Donnelly becomes regional sales manager at Qube Connections Inc in Syracuse, a vendor of ERP software for small and mid-size firms. Bari J in Ithaca named executive vice president of business development at The Thomas Group. Manlius resident Li Cheril Schotz elected president of the Manlius Chamber of Commerce after four years as vice president. Greater Liverpool Chamber elects Rose Mary Gilmore, Elvis, Ray Borg, and Wilber to its board. Syracuse note ends with Susan Foyt.
Nestle proposes a $10 billion purchase of Ralston Purina to create a unified pet food empire with brands Alpo Friskies Meow Mix and more. Analysts say the deal would boost competition, consumer choice and innovation while regulators may scrutinize antitrust implications.
The DeWitt plant will suspend 380 positions as auto sales slow. The move cuts staff by more than 10 percent and follows earlier layoffs, with production down and customer demand easing. Seniority governs who leaves first, and some workers may take voluntary indefinite layoff.
The Labor Department notes a 3.4 percent rise in consumer prices over the year, the largest annual gain since 1990, with energy costs driving much of the surge. December CPI rose 0.2 percent amid gradual price moderation for the month. Factory output fell 4.1 percent in December the steepest drop since 1991, as automakers shut plants to clear a backlog amid slowing demand.
In Homer New York the Durkee family revives the historic Durkee Bakery name with a new Durkee's Dining & Catering next door to the original store. Jim Durkee brings experience from Hotel Syracuse and Cornell to a lunch menu and soon dinner service. Local retailers eye Rochester area chains expanding nearby with Wal-Mart Supercenter plans and ongoing Center expansions.
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