Kmart shifts to upscale discounting for better profits
Kmart Corp., the nation’s second-largest nonfood retailer, moves to upgrade product quality and store appearance while expanding off-price labels. Chairman Bernard Fauber says the shift targets higher margins and competes with Sears and J.C. Penney, aided by the Designer Depot off-price chain and Names-For- Less program. Analysts view the strategy as a major directional change.
MENTIONED IN THIS ARTICLE
Kmart Corp
Sears, Roebuck
Coupany
Ber
Nard M. Fauber
Kmart
Sears
J.C. Penney
Fauber
Designer Depot
Combustion Engineering nears $80 million Taylor acquisition
Combustion Engineering of Stamford has bought Taylor Instrument Co. from Sybron for about 80 million dollars. Taylor supplies electronic instruments and control systems to processing industries and metal manufacturers. CE provides systems and services to oil gas and other sectors. Taylor says no layoffs planned and expansion depends on the economy. Taylor Rochester employment exceeds 1,700.
MENTIONED IN THIS ARTICLE
Combustion Engineering of
Stamford
New York Banking Changes Put Consumers to Test
New York banks will offer CDs at any rate and minimum after year end. Interstate banking expands choices for loans tied to market rates, with tracking of inflation and fixed-rate options. Banks to credit deposits quickly and allow prepay relief, while insurance and investment ventures loom.
MENTIONED IN THIS ARTICLE
New York
Bethlehem Lackawanna plant to idle 300 workers this week
Bethlehem Steel plans a near total shutdown at its Lackawanna plant by week’s end, with five blast furnaces ending this week and the basic oxygen furnaces last run this Saturday. About 2,500 workers will drop to 2,200 and then to a skeleton staff as operations cease by year end.
MENTIONED IN THIS ARTICLE
Bethlehem
Richard
Usiak
Bethlehem Steel
Lackawanna
T’yve
Bob Michalek
Lake Erie
Fred Daggett Jr
Daggett
Bar Prodeuts
Johnstown
Mike Marog
Marog
Cheese firm presidents face bad check charges
Two Pennsylvania cheese company presidents are accused in a Sept. 30 indictment of issuing worthless checks. Benedict J. Scheps of Scheps Cheese Co. and Martin J. Solan of Bradford County Farms face charges in Wyoming County. Cortland Bulk Milk Producers Co-op losses of 1.3 million are tied to Scheps bankruptcy. Federal investigations involve Scheps executives and related figures, with subpoenas issued in Newark and connections to Guglietta Cheese Co. of Connecticut.
MENTIONED IN THIS ARTICLE
Pennsylvania
Elmira Star-Gazette
Wyoming County
Brendan J. Vanston
Benedict J. Scheps
Martin J. Solan
Scheps Cheese Co., Inc
Bradford County Farms, Inc
Cortland Bulk Milk Producers Co—op
Cortland
Scheps
Joseph J. Arcata
Guglietta Cheese Co
Connecticut
Tors
Bradford
New York
Cortland Bulk
al Sprouse
Albany
New Jersey
State Department of Agriculture and Markets
Dairymen to receive 1.7 million after appeals ruling
Assembly Agriculture Committee members Paul Tonko Richard Keene and Rhoda Jacobs praised a Court of Appeals decision enabling the state to pay 1.7 million to dairymen harmed by the Glen Mohawk Milk Association default. About 300 farmers would get half their claims from the Milk Producers Security Fund while a hearing on the incident is set for later this month.
MENTIONED IN THIS ARTICLE
State Assembly
Agriculture Committee
State Court of Appeals
State Department of Agriculture and Markets
Glen & Mohawk Milk Association
Democratic Assembly
Paul Tonko
Richard Keene
Rhoda Jacobs
State Milk Producers Security Fund
Guidelines for spotting misleading sweepstakes promotions
A reader recounts reading a flashy sweepstakes flyer that required buying $100 worth of products to qualify and attending a time share sales pitch. It highlights FTC and BBB tips to spot fraud, avoid high pressure requests, verify prize value, and check state regulations before participating.
MENTIONED IN THIS ARTICLE
United States
Also Mentioned on This Page
Isadore Barmash
New York Times
Kmart’s
DeWitt
Taylor
Foster Paper Co. Inc
Utica
Continental Telephone Co
Norwich
Sidney
Greene
Chenango County
Xerox Corp
Columbus McKinnon Corp
Tonawanda
Tennessee
Buffalo
Columbus McKinnon
Albany Sro Housing Development Fund Co. Inc
Treasury
Munich
Judy Watson
UPI
Mike Marcg
Cortland Bulk Milk Producers Members
Federal Trade Commission
Better Business Bureau
Metropolitan
FTC
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