http://www.kansascity.com/382/index.xml News, sports and entertainment from Kansas City Star en-us Copyright 2008 Kansas City Star Breaking Business News 60 Tue, 13 May 2008 00:39:40 CDT http://blogs.law.harvard.edu/tech/rss McClatchy Interactive's PubSys feedback@kansascity.com http://www.kansascity.com/382/story/616077.html http://www.kansascity.com/382/story/616077.html Mon, 12 May 2008 10:51 CDT Shares of Collective Brands Inc. jumped nearly 15 percent this morning after a company letter to shareholders promised stronger first quarter earnings than analysts expect. http://www.kansascity.com/382/story/616045.html http://www.kansascity.com/382/story/616045.html Mon, 12 May 2008 10:11 CDT Brooke Credit Corp. said larger provisions for loan losses and decreased operating revenues plunged the specialty lender’s first quarter loss to $23.6 million , or 87 cents a share. http://www.kansascity.com/382/story/615944.html http://www.kansascity.com/382/story/615944.html Mon, 12 May 2008 06:43 CDT You may not have liked that April 15 deadline, but H&R Block Inc. today said this year’s tax season was its best since 1999. http://www.kansascity.com/382/story/616053.html http://www.kansascity.com/382/story/616053.html Mon, 12 May 2008 10:24 CDT iPCS, an Illinois company selling Sprint wireless service, wants a court order blocking Sprint Nextel's $14.5 billion WiMax mega-deal. The Schaumburg, Ill., company filed a lawsuit in the Circuit Court of Cook County, Ill., saying that the proposed WiMax venture would violate Sprint's agreements with iPCS. http://www.kansascity.com/382/story/615934.html http://www.kansascity.com/382/story/615934.html Mon, 12 May 2008 09:37 CDT Sprint Nextel sales declined 9 percent. Controller William Arendt said the company will continue to cut costs by cutting jobs. He didn’t specify a number. http://www.kansascity.com/382/story/615994.html http://www.kansascity.com/382/story/615994.html Mon, 12 May 2008 08:28 CDT Brooke Capital Corp. reported a net loss of $2.9 million, or 34 cents a share in the first quarter, down from a year-earlier profit of $2.7 million, or 34 cents a share, due to a marked slowdown in its insurance franchising business. http://www.kansascity.com/382/story/615997.html http://www.kansascity.com/382/story/615997.html Mon, 12 May 2008 08:23 CDT Cardinal Health said this morning that it has completed its $490 million cash acquisition of Leawood-based Enturia Inc., a privately-held manufacturer of infection prevention products. http://www.kansascity.com/382/story/615884.html http://www.kansascity.com/382/story/615884.html Mon, 12 May 2008 17:48 CDT Oil prices briefly spiked to a new record above $126 a barrel Monday but ended the day lower as investors cashed in profits and an earthquake in China raised the possibility of a drop in demand. http://www.kansascity.com/382/story/616343.html http://www.kansascity.com/382/story/616343.html Tue, 13 May 2008 00:38 CDT Mom-and-pop service stations are running into a problem as gasoline marches toward $4 a gallon: Thousands of old-fashioned pumps can't register more than $3.99 on their spinning mechanical dials. http://www.kansascity.com/382/story/615893.html http://www.kansascity.com/382/story/615893.html Mon, 12 May 2008 12:56 CDT A senior Toyota executive said Monday that plans for a new auto assembly plant in Mississippi are being delayed by worries about slumping American auto sales and a broader U.S. economic slowdown. http://www.kansascity.com/382/story/615229.html http://www.kansascity.com/382/story/615229.html Mon, 12 May 2008 00:13 CDT Four-dollar-a-gallon gas is good for business - if you run a bike shop. Commuters around the country are dusting off their old two-wheelers - or buying new ones - to cope with rising fuel prices, bicycle dealers say. http://www.kansascity.com/382/story/615255.html http://www.kansascity.com/382/story/615255.html Mon, 12 May 2008 07:43 CDT With millions of stimulus checks going out to taxpayers, Wall Street wants to know where that money will be spent - and this week's data could help investors gauge the mind-set of the average consumer. http://www.kansascity.com/382/story/615803.html http://www.kansascity.com/382/story/615803.html Mon, 12 May 2008 12:56 CDT Despite extensive efforts to educate workers about saving for retirement, many employees are not doing a good job of managing their company-sponsored 401(k) accounts, a new study indicates. http://www.kansascity.com/382/story/613209.html http://www.kansascity.com/382/story/613209.html Fri, 09 May 2008 15:51 CDT Stocks have ended the week with a big decline after insurer AIG reported a wider-than-expected loss and oil prices reached another new high. http://www.kansascity.com/382/story/611289.html http://www.kansascity.com/382/story/611289.html Fri, 09 May 2008 10:09 CDT A bitter, 10-week strike at auto parts supplier American Axle and Manufacturing Holdings Inc. could end soon now that General Motors Corp. has agreed to kick in up to $200 million to help settle the dispute, industry analysts said. http://www.kansascity.com/382/story/612857.html http://www.kansascity.com/382/story/612857.html Fri, 09 May 2008 11:45 CDT Yet another Internet poll testifies to the fact consumers are feeling miserly about their rebate checks. http://www.kansascity.com/382/story/612697.html http://www.kansascity.com/382/story/612697.html Fri, 09 May 2008 09:05 CDT Recognizing a large federal income tax benefit, Westar Energy, Inc. today said the utility turned a $60.9 million profit during the first three months of the year, more than double that recorded a year ago. http://www.kansascity.com/382/story/612690.html http://www.kansascity.com/382/story/612690.html Fri, 09 May 2008 08:55 CDT H&R Block Inc. said the Office of Thrift Supervision has rescinded a requirement that Block hold 3 percent of its tangible capital assets in reserve to provide an extra measure of safety for its H&R Block Bank. http://www.kansascity.com/382/story/612613.html http://www.kansascity.com/382/story/612613.html Fri, 09 May 2008 05:49 CDT The dollar fell against the euro Friday after the European Central Bank signaled that it was unlikely it would consider any interest rate cuts in the coming months. http://www.kansascity.com/382/story/612441.html http://www.kansascity.com/382/story/612441.html Fri, 09 May 2008 08:59 CDT China's producer price index, a key indicator of inflation, rose 8.1 percent in April over the same month a year earlier, the government reported Friday, as a top economic official sought new controls to cool rising prices. http://www.kansascity.com/382/story/612611.html http://www.kansascity.com/382/story/612611.html Sat, 10 May 2008 12:43 CDT Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher. http://www.kansascity.com/382/story/612628.html http://www.kansascity.com/382/story/612628.html Sat, 10 May 2008 06:16 CDT Clear Channel Communications Inc., a major radio and outdoor advertising company, reported higher first-quarter earnings Friday on asset sales but operating results were flat, reflecting weak demand for radio advertising. http://www.kansascity.com/382/story/612004.html http://www.kansascity.com/382/story/612004.html Thu, 08 May 2008 21:15 CDT Twenty experts from around the world gathered at the Ewing Marion Kauffman Foundation on Thursday to discuss the global effect of high-growth small and medium-size enterprises. http://www.kansascity.com/382/story/611391.html http://www.kansascity.com/382/story/611391.html Thu, 08 May 2008 15:57 CDT An industry group that toured hard red winter wheat fields in Kansas this week estimated this year’s Kansas crop at 379.1 million bushels. http://www.kansascity.com/382/story/611378.html http://www.kansascity.com/382/story/611378.html Thu, 08 May 2008 15:47 CDT Wall Street closed a quiet session with a moderate advance Thursday even as oil prices extended their record-breaking run and as retailers issued sales reports that were generally not as gloomy as anticipated. http://www.kansascity.com/382/story/610996.html http://www.kansascity.com/382/story/610996.html Thu, 08 May 2008 11:47 CDT Twenty experts from around the world gathered at the Ewing Marion Kauffman Foundation Thursday to discuss the global impact of high-growth small- and medium-sized enterprises, or SMEs. http://www.kansascity.com/382/story/610978.html http://www.kansascity.com/382/story/610978.html Thu, 08 May 2008 11:27 CDT Economic stimulus checks printed in Kansas City will be in the mail tomorrow, Treasury Secretary Henry Paulson said during a visit to a Treasury printing center here. http://www.kansascity.com/382/story/610784.html http://www.kansascity.com/382/story/610784.html Thu, 08 May 2008 10:20 CDT T-Mobile, the No. 4 carrier owned by Germany's Deutsche Telekom AG, added 981,000 subscribers in the first quarter. The mobile company added another 1.1 million customers with its completed purchase of SunCom Wireless, and now has 30.8 million customers, T-Mobile said as Deutsche reported its first-quarter financial results. http://www.kansascity.com/382/story/610925.html http://www.kansascity.com/382/story/610925.html Thu, 08 May 2008 21:42 CDT MGP Ingredients Inc. reported higher sales but a loss for the third quarter and said it is exploring “strategic alternatives” related to its facility in Kansas City, Kan. http://www.kansascity.com/438/story/617235.html http://www.kansascity.com/438/story/617235.html Mon, 12 May 2008 23:13 CDT The economic downturn is hitting roughly one in 10 middle-aged and older Americans especially hard, compelling them to borrow money for everyday living expenses and to seek help from family, friends or charities, according to a survey released Tuesday by the AARP. http://www.kansascity.com/438/story/617248.html http://www.kansascity.com/438/story/617248.html Mon, 12 May 2008 23:38 CDT Chinese shares fell Tuesday and the country's two stock exchanges suspended trading in 66 companies based in the region hit by a major earthquake in an effort to minimize potential disruptions to financial markets. http://www.kansascity.com/438/story/615943.html http://www.kansascity.com/438/story/615943.html Mon, 12 May 2008 23:33 CDT St. George Bank on Tuesday agreed to an 18.6 billion Australian dollar ($17.5 billion) takeover offer from Westpac Banking Corp. that would create Australia's biggest bank and be one of the country's largest corporate deals. http://www.kansascity.com/438/story/617225.html http://www.kansascity.com/438/story/617225.html Mon, 12 May 2008 23:11 CDT Americans facing rising gasoline and diesel prices are cycling about, saddling up, singing out and, sometimes, resorting to violent symbolism. http://www.kansascity.com/438/story/615919.html http://www.kansascity.com/438/story/615919.html Mon, 12 May 2008 17:48 CDT Wall Street rallied Monday as oil prices fell back and alleviated some of investors' concerns about accelerating inflation. The Dow Jones industrials gained 130 points. http://www.kansascity.com/438/story/616307.html http://www.kansascity.com/438/story/616307.html Mon, 12 May 2008 17:48 CDT Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over. http://www.kansascity.com/438/story/615402.html http://www.kansascity.com/438/story/615402.html Mon, 12 May 2008 17:48 CDT Tribune Co.'s $650 million sale of Newsday is an important step toward alleviating its debt burden - for this year. http://www.kansascity.com/438/story/615763.html http://www.kansascity.com/438/story/615763.html Mon, 12 May 2008 14:06 CDT China's inflation almost climbed to a 12-year high in April, swamping official efforts to cool surging living costs that could provoke unrest ahead of the Beijing Olympics. http://www.kansascity.com/438/story/615902.html http://www.kansascity.com/438/story/615902.html Mon, 12 May 2008 12:56 CDT Cheeseheads don't need to be bleu: Experts say predictions that California will soon overtake Wisconsin as the nation's top cheese producer are unlikely to come true. http://www.kansascity.com/438/story/615931.html http://www.kansascity.com/438/story/615931.html Mon, 12 May 2008 09:29 CDT Japanese electronics maker Fujitsu on Monday reported nearly a 40 percent plunge in profit for the January-March quarter, largely on costs to restructure its computer chips operations. http://www.kansascity.com/438/story/615938.html http://www.kansascity.com/438/story/615938.html Mon, 12 May 2008 15:48 CDT Sprint Nextel Corp.'s Dan Hesse had little good news to share Monday on the eve of addressing his first shareholder meeting as chief executive of the troubled wireless carrier. http://www.kansascity.com/438/story/616321.html http://www.kansascity.com/438/story/616321.html Mon, 12 May 2008 18:49 CDT Forced to pay for once-free sandwich toppings and twice as much for some steak cuts, shoppers are wondering whether higher grocery bills and restaurant tabs truly reflect the trickle down of a global rise in food prices. http://www.kansascity.com/438/story/616466.html http://www.kansascity.com/438/story/616466.html Mon, 12 May 2008 16:23 CDT Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels since February. http://www.kansascity.com/438/story/615886.html http://www.kansascity.com/438/story/615886.html Mon, 12 May 2008 05:03 CDT Pollo Campero, a Latin American fried-chicken favorite that had been seen in the U.S. only in takeout boxes aboard arriving flights, has teamed up with Wal-Mart to expand its reach to the nation's growing Hispanic population. http://www.kansascity.com/438/story/615911.html http://www.kansascity.com/438/story/615911.html Mon, 12 May 2008 08:43 CDT Mortgage insurer PMI Group Inc. said Monday it swung to a first-quarter loss from year-ago profit, due to hefty payouts on default claims and charges to write off its investment in bond insurer FGIC. http://www.kansascity.com/438/story/615925.html http://www.kansascity.com/438/story/615925.html Mon, 12 May 2008 08:43 CDT MBIA Inc. swung to a $2.41 billion loss during the first quarter as the bond insurer faced ongoing deterioration in the credit markets and recorded billions in write-downs. http://www.kansascity.com/438/story/615940.html http://www.kansascity.com/438/story/615940.html Mon, 12 May 2008 11:26 CDT IndyMac Bancorp Inc. swung to a loss in the first quarter as deteriorating credit markets forced the mortgage lender to lower the value of mortgage-backed securities, and warned Monday it would not post a profitable quarter in 2008. http://www.kansascity.com/382/story/616411.html http://www.kansascity.com/382/story/616411.html Mon, 12 May 2008 15:34 CDT Wall Street has started the week with a big rally after the dollar rose and cooled some of the market’s concerns about inflation. The greenback also helped keep the price of oil in check.