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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jul 12, 1995
Page
7
Salomon Inc. the parent of Salomon Brothers Inc. shocked investors by projecting a $65 million second quarter loss, far worse than analysts expected, sending Salomon stock down about 9 percent to $37.25. The firm faces renewed credit-rating scrutiny as it recovers from nearly $400 million in losses last year.
Canastota based Yankee Coaches owned by Mark and Cindy Wit Bur operates as an old fashioned country store offering crafts lamps and nostalgic items. Wilson, who started at age 12 carving wood, now creates life sized wildlife sculptures including a 10 foot Grizzly bear and an eagle. He faces risk from chainsaws but wears protective gear and aims to expand with commercial orders, some reaching California.
Robert C. Lowes, 49, Paris based head of Grand Met European food operations, will lead Burger King as it expands globally to challenge McDonalds. Burger King holds 16.9 percent of the $36 billion hamburger market while McDonalds leads with 41.5 percent. Tore Fines Niews Serv
Store Fron announces a grand reopening next week as its retail inventory is refreshed. For questions about store openings, closings or changes, contact Bob Niedt at 470 2264 or 470 9014 by fax. Email inquiries to matsTa prodigy com.
Arby’s parent Triarc signed a letter of intent to acquire 12.5 percent of ZuZu’s Inc, a Dallas Mexican quick service chain, with an option to buy up to 30 percent over the next year. The deal aims to create a dual concept uniting menus under one roof while Arby’s continues partner searches. Last year Arby’s planned joint outlets with Long John Silver’s, but Triarc halted those plans in February.
Stock prices retreated Tuesday as profit taking knocked the market from its high level. The Dow Jones industrial average slipped 21.78 points to 4680.60 as investors reviewed earnings and awaited results. Losers edged gainers by about 13 to 1 on the NYSE.
Federal regulators and engine manufacturers reach an unusual collaboration to cut nitrogen oxides from heavy duty diesel engines by 50 percent by 2004. The plan lowers the standard from 5 to 2 grams per brake horsepower hour, a shift EPA officials say could remove 25 million cars worth of emissions.
Credit card issuers are raising interest rates and penalty fees for tardy or overlimit accounts after years of lenience. AT&T and CitiBank lead the move with higher APRs and new charges, while Chase Manhattan imposes a $15 monthly overlimit fee. Bankcard groups criticize the hikes as excessive and aimed at punishing compliant customers.
Physician J J LaFond joins AL Lee Memorial Hospital staff and opens private practice in Fulton internal and geriatric medicine. James P Evans becomes associate at O'Hara & O'Connell focusing on commercial, real estate, personal injury and education law. Biotverd L Wilt forms Hemisphere Holdings Corp with Syracuse address. specializes in brokerage and tax consulting. Make Ready Unlimited relocates to 46 Columbus St Auburn, offers mailing and distribution services for Finger Lakes Press. Theodore & Mastin named president and CEO of Barnes Group Ing in Bristol, Conn. Jim Terrmont Line redesigns M&M Realty logo and marketing materials in Syracuse. Contact details for submissions provided.
Syracuse based Penn Traffic warned its quarter ending July 29 earnings may fall short of 64.4 million last year as Wall Street pushed the stock down 23 percent. Shares closed at 26.372 a share after a $7.75 drop. The parent of P C Food Markets with 66 stores and 72 Big M franchises says weak consumer spending and higher costs hurt results. Stores open 1 year fell 1.3 percent in June amid market share concerns. P C controls about 31 percent of central New York grocery trade.
J D Power rankings show Lexus and Latin at top with 173 and 172 scores. Toyota and Honda follow as industry leaders. The study lists domestic and European averages, with several brands below industry average omitted due to small sample sizes or not released.
US automakers trail the industry average on J.D. Power and Associates customer satisfaction index. The study notes domestic makers are the most improved of the three sectors over 10 years, while European and Asian brands show faster gains.
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