Kansas City Star: Business

A simple — and radical — solution to health care

Mon, 16 Nov 2009 22:15 CST

If you have the gumption to read the House health care bill, you’ll find the words “employer” or “employers” 369 times.* Now take a look at the accompanying box …

AT&T workers approve four-year agreement that contains wage increases

Mon, 16 Nov 2009 22:15 CST

After months of bargaining that included informational pickets, about 2,400 of the area’s hourly AT&T Inc. employees are under new contracts. Members of Communications Workers of America approved a four-year agreement last week that covered 27,000 workers in five states, including Missouri and Kansas. About 1,650 of the AT&T Southwest employees are in the Kansas City area.

Developers in ‘hunker-down mode'

Mon, 16 Nov 2009 22:15 CST

When even Wal-Mart would rather remodel than build new stores, you know it’s a tough time to be a developer — in Kansas City or anywhere else. Throw in an extremely tight lending environment, retailers struggling to survive and, if somebody does want to expand, a glut of vacant commercial real estate space undercutting new projects and you might as well follow Clay Sublett’s advice.

Parkville sees new shops, eateries

Thu, 19 Nov 2009 22:15 CST

Quaint downtown Parkville might have quivered a bit when shiny new shopping centers began to open nearby. And while some small business left for these greener paved pastures, other local entrepreneurs have settled in with offerings that are draws in themselves.

College students lack health insurance

Fri, 20 Nov 2009 22:15 CST

To all of the numbers churned out in the debate over the nation’s health care system, add one more glaring statistic: 4 million. That’s the number of college students estimated by a recent study to be uninsured.

The biggest gripes of job hunters

Sat, 21 Nov 2009 22:15 CST

In this column last week, hirers told what bugs them the most about job applicants. Yep. I got feedback. Job hunters asked for fair time to say what they don’t like about the way prospective employers are treating them.

Historic health care bill clears Senate hurdle

Sat, 21 Nov 2009 22:17 CST

Restored machine to explore mysteries of Big Bang

Sat, 21 Nov 2009 13:12 CST

Marillac's Enchanted Forest opens for three-week silent auction

Wed, 18 Nov 2009 15:25 CST

New Victoria's Secret SOHO Store in New York

Wed, 18 Nov 2009 14:18 CST

The new Dunkin' Donuts in Overland Park

Tue, 10 Nov 2009 20:59 CST

Business calendar: Nov. 17 and later

Sun, 15 Nov 2009 22:15 CST

TUESDAY PUTTING A FEMALE FACE ON LEADERSHIP: 7:30-10 a.m. Nov. 17, Central Exchange, 1020 Central. Members free, $75 for others. Go to www.centralexchange.org or call 816-471-7560, ext. 10.

Campbell Soup earnings rise as expenses fall

Mon, 23 Nov 2009 07:58 CST

Campbell Soup Co., the world's largest soup maker, said Monday its first-quarter earnings rose 17 percent as lower costs and more efficient supply chain offset the impact of a decline in soup sales.

Economic survey: Job losses to bottom out in 1Q

Sun, 22 Nov 2009 23:44 CST

Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.

Stocks climb on report showing jump in home sales

Mon, 23 Nov 2009 05:44 CST

A weaker dollar and better-than-expected data on the housing market sent investors moving back into stocks Monday after a three-day losing streak.

Tyson Foods posts 4Q loss on charge, sales edge up

Mon, 23 Nov 2009 06:44 CST

Tyson Foods Inc., the world's largest meat producer, said Monday that a hefty impairment charge in its beef business left it with a loss for the fourth quarter. But sales rose, and its chicken business was profitable for the second straight quarter.

Kentucky invests $1.2 million in farm projects

Mon, 23 Nov 2009 09:36 CST

Farmers in several counties will be able to tap into more than $1.2 million set aside for agricultural investments.

EADS execs on trial for alleged insider trading

Mon, 23 Nov 2009 07:04 CST

Seventeen executives at Airbus parent company EADS went on trial Monday for allegedly making millions in profits on the back of their company's troubles with the delayed A380 superjumbo project.

Garmin's European GPS rival TomTom plotting difficult course

Mon, 23 Nov 2009 09:15 CST

The Wall Street Journal posted a story this morning about TomTom NV., Garmin's European competitor in the GPS market.

E-readers aim to crack the high costs of college textbooks

Mon, 23 Nov 2009 06:35 CST

As Sony Corp.'s e-book devices vie with the Kindle to win over readers, the real showdown may come later: when a shift to electronic textbooks at schools threatens to eclipse the current market for the products.

The Week Ahead: Attention shoppers, Black Friday nears

Mon, 23 Nov 2009 06:34 CST

News this holiday shortened week can be boiled down to two words: Black Friday. That marks the traditional start of the holiday shopping season. Keep in mind that Friday after Thanksgiving is typically not the busiest day of the season.

Sprint goes Incognito with new phone

Fri, 20 Nov 2009 18:08 CST

Sprint launch the Sanyo Incognito messaging phone Nov. 30 — Cyber Monday. The phone, featuring a glow-through hidden QWERTY keypad, will be sold online at Sprint.com.

A maxi 75 percent price cut for the Palm Pixi

Fri, 20 Nov 2009 17:59 CST

You can now buy the Palm Pixi smartphone for $25. Amazon.com cut the original retail price of $100 by 75 percent, less than a week after the phone went on sale at Sprint, which still is sticking with the original price. For the details on the price cut, check out the story on Computer World Web site.

Telecom takeover buzz centers on MetroPCS

Fri, 20 Nov 2009 15:42 CST

From Bloomberg News MetroPCS Communications Inc., the pay-as-you-go mobile-phone carrier, gained the most in a month on speculation that it may be acquired, an analyst said. “It’s a story of telecom stocks, PCS in particular,” said Robert Dezego, an analyst at SunTrust Robinson Humphrey Inc. in Atlanta. “It’s a pattern that we see whenever there’s a new story or article on mergers and acquisitions.” read more

Moody's cuts Sprint Nextel rating to 'Ba2'

Fri, 20 Nov 2009 13:54 CST

MarketWatch reports that Moody's Investors Service on Friday downgraded its corporate family rating on Sprint Nextel Corp. (NYSE:S) to Ba2 from Ba1, saying the wireless-services provider's ability to stem the deterioration of its earnings is taking longer than it had originally anticipated. The agency said the company's leverage, therefore, is likely to deteriorate before stabilizing at much weaker levels than previously expected. The outlook for Sprint Nextel's ratings is negative. Moody's said earnings pressure is likely to persist until the loss of post-paid subscribers decreases more significantly. read more

Verizon to double its cancellation fees

Wed, 18 Nov 2009 14:56 CST

With a whole new line of smart phones coming onto the market, Verizon Wireless said that starting November 15 it is doubling to $350 the penalty fees for subscribers who leave their contracts early. More here.

Fitness study results in healthier neighbors

Sat, 21 Nov 2009 23:31 CST

Snap Fitness Program Burns Fat, Drops Pounds OLATHE, KS, November 2009 – Ever wonder how a regular exercise program might help you? Then look to your neighbors! Some 53 of them took part in a three-week Fitness Study conducted by the Northwest Olathe Snap Fitness and, not surprisingly, they’re feeling a whole better about themselves right about now. read more

Fitness clubs launch holiday program

Sat, 21 Nov 2009 23:24 CST

Snap Fitness of Northwest Olathe to Open its Doors to the Community for The 12 Days of Fitness

OLATHE, KS, November 2009: Snap Fitness of Northwest Olathe and the Clubs for the Cure Team are excited to launch the 12 Days of Fitness Program to find a cure for ALS this holiday season. Through December 19th the Snap Fitness of Northwest Olathe, along with other clubs across the country, will open their doors to members of the community by inviting them to experience 12 consecutive days of fitness for a donation of $20 to ALS. read more

Fair trade film showings to accompany Fair Trade Holiday Market In Lawrence

Sat, 21 Nov 2009 19:11 CST

Lawrence Fair Trade will be showing a series of films about Fair Trade during their annual Fair Trade Holiday Market this year. Location: Main floor, ECM, 1204 Oread, Lawrence, KS Dates: Tuesday, Dec. 1st & Wednesday, Dec. 2nd read more

Activist groups to raise 20,000 pounds of food for hungry animals

Sat, 21 Nov 2009 08:42 CST

The Northland Pet Pantry is a non-profit 501c3 organization that began in May, 2009 when three animal rescue organizations; the Northland Animal Welfare Society (NAWS), Excelsior Springs Friends of Animals and Katty Shack came together. read more

With Thanksgiving travel looming, be ready for fees, waits, hassles

Fri, 20 Nov 2009 22:15 CST

For the infrequent flier who will be traveling for the holidays, here’s a tip: Keep Stacy Stuerke’s experiences in mind. Stuerke, a road warrior who works in sales for a big global firm, flies in and out of Kansas City International Airport’s Terminal B, the busiest of the three terminals. It is being renovated, and the construction means usually no parking is available at the adjacent garage by midweek.

MGP Ingredients and partner to fire up plant again

Mon, 23 Nov 2009 09:53 CST

MGP Ingredients Inc. found a buyer for half of the Pekin, Ill., alcohol plant it shuttered early this year.

Jobless rate falls in Kansas, Missouri

Fri, 20 Nov 2009 22:15 CST

The unemployment rate edged down in October from 9.5 percent to 9.3 percent in Missouri and from 6.9 percent to 6.8 percent in Kansas, according to state breakdowns released Friday by the Bureau of Labor Statistics. Missouri added 4,000 workers to its nonfarm payrolls, seasonally adjusted, and Kansas added 2,800.

Moody's downgrades Sprint debt

Fri, 20 Nov 2009 22:15 CST

Sprint Nextel Corp. saw its debt rating cut Friday by Moody’s Investors Service, which said the wireless carrier’s turnaround is taking longer than expected. Moody’s lowered Overland Park-based Sprint’s corporate rating one level to Ba2, two levels below investment grade. Moody’s said its outlook on Sprint was negative, meaning the carrier could be subject to further downgrades.

Harley reaches accord to keep plant open, cut jobs

Fri, 20 Nov 2009 22:15 CST

Harley-Davidson Inc., the biggest U.S. motorcycle maker, reached a tentative labor agreement that would keep open its York, Pa., factory while reducing the number of union workers by almost half. The seven-year accord calls for the plant, Harley’s biggest, to focus on assembly, metal fabrication and paint operations with an hourly work force of as many as 1,100 employees, a drop from 1,950 now, said spokesman Bob Klein.

Missouri public pension fund may sue over future losses

Fri, 20 Nov 2009 22:15 CST

Trustees of the $6.8 billion pension fund for Missouri public employees, which lost almost $2 billion in 2008, voted to consider lawsuits seeking damages if they suffer future investment losses. Trustees of the Missouri State Retirement System, MOSERS, voted Thursday to solicit reports from law firms about prospects for legal action.

Insider trading | Commerce Bancshares

Fri, 20 Nov 2009 22:15 CST

Each week, we highlight recent stock activity by insiders at an area company. Commerce Bancshares Inc.

Forced health insurance on shaky legal ground

Fri, 20 Nov 2009 22:15 CST

PHOENIX | In 2006, long before there was an Obama administration determined to impose a command-and-control federal health care system, a young orthopedic surgeon walked into the Goldwater Institute with an idea. The institute, America’s most potent advocate of limited government, embraced Eric Novack’s idea for protecting Arizonans from health care coercion. In 2008, Arizonans voted on Novack’s proposed amendment to the state’s Constitution: “No law shall be passed that restricts a person’s freedom of choice of private health care systems or private plans of any type. No law shall interfere with a person’s or entity’s right to pay directly for lawful medical services, nor shall any law impose a penalty or fine, of any type, for choosing to obtain or decline health care coverage or for participation in any particular health care system or plan.”

IPOs are back with a flurry

Fri, 20 Nov 2009 22:15 CST

The market for initial public offerings appears to be back, with this week’s flurry of offers indicating that the fall rebound in the market was no fluke. This week was the second biggest for new issues — with five IPOs — since the market began heating up in the middle of September. There have been 22 new offerings so far this quarter, compared with just one in the final three months of last year. There are more than 90 companies in the 2010 IPO pipeline.

Business in brief | Whole Foods will sweeten discounts to employees who improve their health

Fri, 20 Nov 2009 22:15 CST

Whole rewards Whole Foods Market Inc., the largest U.S. natural goods grocer, will sweeten store discounts to employees who lose weight and measurably improve their health. Workers will receive discounts of 20 percent, rising to 30 percent, based on blood pressure, cholesterol, body mass index and whether they smoke. The program is voluntary and begins in January.

Stocks slip as anxiety lingers

Fri, 20 Nov 2009 22:15 CST

The stock market ended a down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt. After two strong weeks, investors tried unsuccessfully to extend the market’s rally after major stock indexes closed at 13-month highs on Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market’s eight-month rally.

Starwatch consumer | A new annuity product

Fri, 20 Nov 2009 22:15 CST

New annuity product Fidelity Investments and MetLife Inc. are offering a retirement product for investors more worried about protecting their nest eggs than seeking market gains. The product allows people in or near retirement to trade some of their savings, including money in 401(k) accounts, in return for a fixed, lifetime income.

Flash forward | Events in the coming week

Fri, 20 Nov 2009 22:15 CST

MONDAY: Existing home sales; earnings reports from Campbell Soup, Hewlett-Packard, Tyson Foods. TUESDAY: Preliminary third quarter gross domestic product; November consumer confidence; earnings reports from Barnes & Noble, Borders Group, Brown Shoe, Heinz, Hormel, Medtronic, TiVo.

Bargain-basement deal is a boost for stalled project near Plaza

Thu, 19 Nov 2009 22:15 CST

Mill Creek Terrace, a stalled project near the Country Club Plaza, should be ready for occupancy soon following a bargain-basement transaction that reflects the struggles of the condominium market. The development of 61 condos and town houses along J.C. Nichols Parkway across from Mill Creek Park was announced as a $20 million plan in 2005. But the developer last spring defaulted on his construction loan with 12 units sold and the project close to completion. Resource Real Estate of Philadelphia has snapped up the remaining 49 units for $6.5 million.

Expert calls for nonprofits to unite to flex their economic and social muscle

Thu, 19 Nov 2009 22:15 CST

Voice. Value. Votes. For all the good — financial and charitable — that the nonprofit sector does in America, it hasn’t banded together to develop those three Vs.

Glitch snarls air traffic in latest woes for FAA

Thu, 19 Nov 2009 22:15 CST

ATLANTA | For the second time in a little more than a year, a glitch at one of the two centers that handle flight plans for the nation’s air travel system set off delays and cancellations for passengers around the country. The snarl Thursday — traced to a single circuit board in Salt Lake City — prompted calls for more money and manpower at the Federal Aviation Administration.

Analyst predicts solid November for U.S. auto sales

Thu, 19 Nov 2009 22:15 CST

DETROIT | U.S. auto sales could top an annual rate of 10.8 million in November, General Motors Co.’s top sales analyst said Thursday. That would mark the first month this year that sales jumped to such levels without the aid of Cash for Clunkers rebates, which boosted sales in July and August.

Investors looking for safer assets cause stocks to tumble

Thu, 19 Nov 2009 22:15 CST

Signs of a subdued recovery sent investors out of stocks Thursday and in search of safer assets, such as the dollar. Energy and material stocks logged some of the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst’s downgrade of the chip industry pulled technology shares sharply lower.

SEC is told to improve ways it chooses probe targets

Thu, 19 Nov 2009 22:15 CST

The Securities and Exchange Commission must tighten its process for deciding which investment advisers to inspect if it is to avoid colossal breakdowns, the agency’s inspector general says. A report released Thursday by the office of Inspector General David Kotz proposes new requirements that the SEC’s inspections office examine databases and documents related to investment advisers that may be inspected.

Starwatch consumer | Vicks recalls Sinex

Thu, 19 Nov 2009 22:15 CST

Vicks recalls Sinex Procter & Gamble is recalling some 120,000 bottles of Vicks Sinex nasal spray after the company found bacteria in some samples during routine testing. Spokesman Tom Millikin describes the voluntary recall as a precaution after small amounts of the B. cepacia bacteria were found in the over-the-counter product at the German plant where it’s made. For recall details, call 877-876-7881.

Heads up | AOL plans to shed up to 2,500 jobs

Thu, 19 Nov 2009 22:15 CST

Job cuts in divorce The struggling Internet company AOL plans to shed up to 2,500 jobs — more than a third of its work force — as it prepares to separate from Time Warner and finally sever their ill-fated marriage. Major job cuts had been expected and seemed certain after Time Warner said last week that AOL would take $200 million in charges for severance and other reorganization costs.

Foreclosures are hitting more people with good credit

Thu, 19 Nov 2009 22:15 CST

The foreclosure crisis is likely to persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises concerns about the broader economic recovery. The latest evidence was a report Thursday that a rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure. That’s a shift from last year, when riskier subprime loans drove the housing crisis.

America's casino industry is hoping its luck will change

Wed, 18 Nov 2009 22:15 CST

The U.S. casino business, hit by double-digit revenue declines in Las Vegas and Atlantic City, N.J., hopes it's on the road to recovery. And the Kansas City casino market, whose drop in business wasn't nearly so steep, could already be on the way back.

Pilot project may revolutionize how health care is managed

Wed, 18 Nov 2009 22:15 CST

If you've always wished you had someone to help manage and coordinate your health care, you could be in luck. A pilot program is helping 13 area doctors' offices convert to doing that for their patients.

Sampling of area employers shows total health benefit costs for employees up 5.6%

Wed, 18 Nov 2009 22:15 CST

A sampling of 44 Kansas City area employers shows that their total health benefit costs for their employees rose 5.6 percent this year.

KC area home sales up 25 percent in October over last year

Wed, 18 Nov 2009 22:15 CST

Home sales were up 25 percent overall in October compared with last year in the Kansas City area, and the inventory of unsold houses continued to shrink.

YRC Worldwide to close Ohio terminal in cost-cutting move

Wed, 18 Nov 2009 22:15 CST

Overland Park-based YRC Worldwide has announced it will close its terminal in Richfield, Ohio, as part of its cost-cutting strategies.

CEOs talk about re-energizing their work forces

Wed, 18 Nov 2009 22:15 CST

At the November meeting of the Society for Human Resource Management of Johnson County, the talk was — dare I say it? — energizing and refreshing.

California requires TVs to be more energy-efficient

Wed, 18 Nov 2009 22:15 CST

California regulators Wednesday adopted the nation's first energy-efficiency standards for televisions in hopes of reducing electricity use at a time when millions of U.S. households are switching to power-hungry, wide-view, flat-screen, high-definition sets.

Stocks decline with traders �scared to go too far out on a limb'

Wed, 18 Nov 2009 22:15 CST

Disappointing forecasts from technology companies and an unexpected drop in home construction added to worries about the economy and sent stocks modestly lower Wednesday.

Heads Up | A new director at KC Fed; Aetna job cuts

Wed, 18 Nov 2009 22:15 CST

John Stout Jr. has been elected to a three-year term as a director of the Federal Reserve Bank of Kansas City.

Starwatch Consumer | Penney's ends 'big book' catalogs; Turkey Day travel

Wed, 18 Nov 2009 22:15 CST

J.C. Penney will stop publishing its twice-yearly “big book” catalogs, now that customers increasingly shop online. Instead, J.C. Penney Co. says it will publish specialty catalogs and focus its efforts online, on the Web site jcp.com and on social networks.

Nestle Baking expects shortage of canned Libby's Pumpkin

Tue, 17 Nov 2009 22:15 CST

Nestle Baking said Tuesday that it expects a shortage of its canned Libby’s Pumpkin — far and away the nation’s most popular canned pumpkin — as the holiday season approaches.

Bernstein-Rein loses Bayer Animal Health account

Tue, 17 Nov 2009 22:15 CST

Bernstein-Rein has lost Bayer Animal Health as a client, despite making a minor celebrity out of a Labrador puppy named Champ and his adventures at summer camp.