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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Sep 05, 2001
Page
6
The Jewish Home of Central New York in Syracuse approved a contract for 140 workers including licensed practical nurses and CNAs. The pact provides at least 4.5 percent raises and improved dental and health benefits, shift differential, and a uniform allowance.
The Greater Syracuse Chamber of Commerce invites nominations for its annual Business of the Year awards in two employee categories and a Community Involvement Award. Deadline is Nov 9. Contact Kris Hartnett at 470-1870 or via email or the chamber website to obtain a nomination form.
Royal Ahold NV the Dutch grocery giant said it will spend 2.2 billion to acquire Alliant Foodservice Inc and 500 million for Bruno s Supermarket Inc and assume 750 million in debt. The deals, under regulatory review, broaden its U S presence including Tops Markets and Stop and Shop.
Oracle Corp chief executive Larry Ellison reaped a $706 million windfall by cashing in 23 million stock options as Oracle’s shares stayed high. Regulators’ filings show the exact amount, disclosed in the proxy statement after prior SEC acknowledgment. Ellison remains among the world's wealthiest despite substantial paper losses over the past year.
Bausch & Lomb Inc. announced the resignation of chief executive William Carpenter on Tuesday for personal reasons. He is replaced by William Waltrip, who had led the company in 1997, as demand for contact lenses and laser eye surgery gear slows in the United States. Waltrip will assume the top role after being on the board since 1985 as the directors seek an outside appointment.
Worker productivity rose 2.1 percent in the April-June quarter, revised by the Labor Department. The gain, while below the prior 2.5 percent estimate, reflects output per hour growth amid an economy slowing and ongoing job cuts. It stands as the best rate since late last year.
U S Bankruptcy Court approved $2.26 million for five law firms and one accounting firm in Crouse Hospital's Chapter 11 case. J H Cohn of Roseland, New Jersey leads with $1.27 million in fees plus expenses. The hospital, Syracuse’s largest, owes more than $90 million in long term debt and $20 million to vendors.
Local Togo's sandwich shops have closed in the eastern region and Brewerton with Dunkin' Donuts nearby, part of Allied Domecq Quick Service Restaurants. Dunkin' and Togo's franchises in Syracuse were run by Syracuse Foodservice Group Inc. Best Buy plans a store at 40 Catherwood Drive, Ithaca, totaling five in New York. NASCAR Silicon Motor Speedway at Carousel Center closed. refunds issued, site moved to Day tona USA expansion and later to Perfect Line with Albany as nearest open location. Tips and contact info for store news provided.
Hewlett-Packard and Compaq announce a merger with HP to keep the HP name on products while retaining some Compaq sub brands. Leaders say no details yet on which labels stay, as the combined firm eyes cost cuts of about 2.5 billion dollars annually. The deal could alter brand strategy, retail competition, and prices, with Dell pressuring margins.
Niagara Mohawk plans to issue long term debt up to 300 million after PSC approval to fund upcoming obligations. Proceeds may repay 100 million in debt due October and could rebalance capital by stock repurchase or contract buyouts. The nuclear sale, though approved by NRC, stalled at PSC amid loss-disposal questions.
Crucible Specialty Metals risks losing a three year valve steel contract as the United Steelworkers strike enters its 34th day. Management and three locals meet with a federal mediator pending Monday talks. President David Yates urged at the table to settle and avert job cuts at the Gednes plant.
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