May Department Stores to Close 32 Lord & Taylor Shops
May to shut 32 Lord & Taylor outlets in 15 states plus two other stores to trim about 59 million dollars annually. About 3,700 jobs to go with severance and enhanced retirement benefits. Des Moines Famous Barr and an Omaha Jones Store also slated for closure. May aims to focus on markets with strong performance as it restructures its portfolio.
MENTIONED IN THIS ARTICLE
ST. Louis
Cassid
Lord & Taylor
States
District of Columbia
May Co
May
Sharon Bateman
Jane Elfers
Barr
Des Moines
Iowa
Jones
Omaha
Net
Fed survey shows economy gaining momentum in mid year
Washington AP Fed report indicates most regions show stronger growth in June and early July with optimism rising about prospects. Manufacturing edging higher, unemployment near 6.4 percent, and Fed may hold rates steady at next meeting. Analysts expect tax cuts and low rates to sustain, though job growth remains sluggish.
MENTIONED IN THIS ARTICLE
Washington
America
Federal Reserve
Fed
Chicago
St Louis
San Francisco
Atlanta
Richard Yamarone
Argus Research Corp
Philadelphia
Richmond
Alan Greenspan
Bush
British Airways settles with unions over clocking-in change
British Airways and three unions reached a settlement ending a dispute spurred by a wildcat strike at Heathrow during a busy travel weekend. The deal requires an electronic clocking-in system by Sept 1, while pay talks stay separate. The airline commits not to use new cards to reorganize shifts without negotiation.
MENTIONED IN THIS ARTICLE
London
British Airways
Heathrow
Mervin Walker
Bill Morris
T&g Union
CHP Nurses Rally as Talks Drag Toward August Deadline
Community Health Partners nurses and SEIU District 1199 accuse CHP of bad faith bargaining while hospital officials insist a contract renewal can be reached by the August 31 deadline. Union cites pension, health care costs, union rights, and promotion policy as major issues.
MENTIONED IN THIS ARTICLE
Community Health Partners
Elyria — Community Health Partners
Service Employees International Union District
Maria Kawentel
Connie Lamb
National Labor Relations Board
CHP
Sue Morano
District 1199
Kawentel
Pat Mitchell
Lamb
Emma Spraggins
Pillowtex to close 16 plants and lay off 6450 workers
Kannapolis based Pillowtex announces plan to shutter 16 plants and cut 6,450 jobs amid textile industry crisis. Company will seek Chapter 11 protection, wind down operations, and dispose of assets while retaining about 1,200 workers to support bankruptcy proceedings and employee communications.
MENTIONED IN THIS ARTICLE
Textile Company
Kannapolis
N.C
Pillowtex
Michael Gannaway
Deep South
United States
Canada
Cannon
Fieldcrest
Royal Velvet
Stocks fall as Intel comments weigh on tech sector
Stocks edged lower after Intel remarks and Pier One profit warnings offset gains from CVS and ConocoPhillips. The Dow dropped 4.41 to 9,200.05, the Nasdaq fell 0.6 percent to 1,720.91, and the S&P 500 slipped 0.2 percent to 987.49 as investors awaited GDP and jobs data this week. CVS rose 1.20 to 28.95 after solid quarterly results while ConocoPhillips added 0.05 to 52 on upbeat earnings.
MENTIONED IN THIS ARTICLE
New York
Intel
Pier One
CVS
ConocoPhillips
Dune
Larry Wachtel
Praudeénicial Securities
Jack Caffrey
J.P. Morgan
Standard & Poor
Caffrey
Dow
S&p
Commerce Department
Labor Department
Institute For Supply Management
Conference Board
Craig Barrett
Dow Jones
Wall Street
Genesis
Bush
AMR
American Airlines
Dollar climbs on upbeat US economy talk in New York
The dollar extended gains in New York as officials’ optimism on growth supported bids ahead of key data. Investors await July jobless claims, second quarter GDP, Friday employment data, and ISM manufacturing survey, while McTeer cites productivity strength boosting the economy.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
ILS
CNBC
Federal Reserve Bank of Dallas
Robert McTeer
Also Mentioned on This Page
Ees
Filene’s
Foley's
Hecht’s, Kaufmann’s
L.S. Ayres
Meier & Frank
Robinsons-May
Strawbridge’s
David's
New York Stock Exchange
Ian Burns
Chronicle-Telegram
Adrian Burs
Abums
Chronicletelegram
Ene Krers
Mansoor Mohiuddin
UBS
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