Kroger tops Wal Mart as profits surge in quarter
Kroger Co reports a 36 percent rise in fourth quarter profit to 384.8 million dollars, or 54 cents a share, on 16.86 billion in revenue. Excluding a 3 cent per share tax gain, earnings were 51 cents. Revenue rose 15 percent, beating estimates, as Kroger gained market share in 36 of 44 major markets amid Wal Mart expansion.
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Cincinnati
Kroger Co
Wall Street
Kroger
Thomson Financial
Wal-Mart Stores Inc
David B. Dillon
Dillon
Wal- Mart
Wal-Mart
AK Steel workers vote for 3rd time
Locked out AK Steel workers, in the nation’s longest current stoppage, vote for a third time on a settlement offer. Ballots counted in Cincinnati. if ratified, recall of all eligible workers within 90 days and a contract running through Sept. 15, 2011. Local officials say ending the cloud could lift the Middletown community.
MENTIONED IN THIS ARTICLE
Cincinnati
AK Steel Holding Corp
Machinists Union
Middletown
Myra ‘Patterson
AK Steel
Alan McCoy
Bill Becker
Machinists vote on AK Steel Middletown Works contract
After a 13 month lockout, Machinists near Middletown vote on a contract running March 15 2007 to Sept 15 2011. Wages rise to 15.66 21.50 hourly in five grades with later bumps. Seniority preserved for bidding and vacations. Health care 15 percent share. pension company contributes up to 1.80 per hour. Company pays 7.7 million to settle claims including 2.6 million in 2005 profit sharing and 202 301 for 2006.
MENTIONED IN THIS ARTICLE
AK Steel
Middletown
Wall Street Plunges Again on Subprime Woes
Stocks fell sharply as the Dow dropped 242.66 points to 12,075.96 amid widening subprime distress. Major indexes slid about 2 percent with the S&P 500 down 28.65 and the Nasdaq off 51.72 as investors braced for a weaker economy and volatile trading ahead of options expirations.
MENTIONED IN THIS ARTICLE
New York
New Century Financial Corp
Matt Kelman
Kelmoore Strategy Funds
Iraq
Standard & Poor
New York Stock Exchange
Dow
Mortgage Delinquencies and Foreclosures Hit Record High
The Mortgage Bankers Association reports 30 plus day delinquencies rose to 4.95 percent in Q4, a peak since 2003, with foreclosures starting at 0.54 percent, a record. Subprime borrowers show higher rates, with ARMs delinquency at 14.44 percent.
MENTIONED IN THIS ARTICLE
Washington
Mortgage Bankers Association
Association
Tech firms push to use TV airwaves for Internet
A coalition led by Microsoft and Google urges regulators to allow idle TV channels to beam high speed Internet into homes using white space. They will present a Microsoft built prototype to the FCC for testing, aiming for store versions by early 2009.
MENTIONED IN THIS ARTICLE
Washington
Federal Labs
Microsoft
Google
Federal Communications Commission
Dell
Hewlett-Packard
Intel
Philips
FCC
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