Stocks slide as Fed says bond purchases could slow
Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of 2014.
Stocks
Star 40
Cerner tops Star 40; others in economic ‘sweet spots’ also doing well
It was a safe bet that Cerner Corp. would once again lead the The Star’s rankings as the region’s top-performing public company. Cerner, the nation’s second-largest company that helps hospitals and doctors’ offices convert paper files into computerized medical records, is in a sweet spot. Other top-ranked companies here do business in areas that have an edge: energy, rail transit and online government services.
Star 40: Wealth soared in 2012 for KC companies' executives
The already-hefty pay packages of many public-company executives bulged last year, thanks to higher values of their company stocks. Million-dollar base salaries – as paid to Cerner Corp. CEO Neal Patterson (pictured) and Waddell & Reed Financial CEO Hank Herrmann – are only the beginning. For most of the bigger-company CEOs, stock awards, options and “non-equity incentive” compensation dwarf their base pay.
Cityscape
Pie Five Pizza Co. to enter the market with an Overland Park location
The Pie Five Pizza Co. — which sells individual pizzas made to order and cooked in five minutes — has picked a place for its first area location. Pie Five plans to open later this summer at 13366 Metcalf Ave., Overland Park.
Co-founder of two Frida’s restaurants in Overland Park to open new eatery in Gladstone
Ivan Marquez has built a strong following with two Overland Park restaurants, one full-service, the other fast-casual. Now he’s expanding with a third restaurant. But this one is on the other side of the metro area, in Gladstone.
Technology
Best Buy recalls batteries over fire risk
Best Buy is recalling 5,100 replacement batteries for the MacBook Pro due to a fire risk.
Dish Network fails to meet Sprint Nextel’s bid deadline
The satellite television company blamed Overland Park-based Sprint and its revised agreement to be acquired by SoftBank Corp. Sprint had set the deadline for Dish’s “best and final offer” after rejecting an earlier proposal from Dish as one it could not act on.
Workplace
U.S. HealthWorks acquires occupational healthcare properties in Kansas City area
U.S. HealthWorks, which operates occupational healthcare and urgent care centers, on Tuesday announced the purchase of seven clinics and two worksite locations in the Kansas City area. The locations were acquired from OHS-Compare clinics.
AT&T hiring for Kansas City-area stores
AT&T will hold two hiring events on Wednesday to fill more than 40 open retail sales positions in the Kansas City area. The events will be from 2 p.m. to 6 p.m. at 6615 W. 135th St., Overland Park, and 19210 E. 39th St., Suite A, Independence.
Development
KC-based firm Populous to design new arena in Las Vegas
The Kansas City architectural firm Populous will work on a 20,000-seat project that is being co-developed by AEG, the Los Angeles-based operator of the Sprint Center, and MGM Resorts International.
All play and no work makes downtown KC a dull boy, too
With the heart of Kansas City reviving its pulse the past decade or so — at least as a place to live and play — why have businesses pretty much been no-shows? Census numbers indicate that greater downtown lost more than 16,000 jobs from 2001 to 2011, a 19.6 percent drop.
Talking Business
The art of revising the gross domestic product
The Bureau of Economic Analysis will begin recognize spending on research and development. And, take another deep breath, it will begin counting investment in the creation of entertainment, literary and other artistic originals.
Bull market looks to have further to run
The bulls have been feeding on a host of good economic news and are licking their chops for more. Still, given the last five lousy years, many of us are watching the battered bears up in those trees, wondering whether they’re going to climb down soon and eat the market rally for lunch.
National, International Business news
Fed suggests it's closer to slowing bond purchases
Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year because the economy is strengthening.
Bernanke declines to address future at the Fed
Ben Bernanke declined Wednesday to address speculation that he will step down as chairman of the Federal Reserve in January when his term ends, saying he wanted to keep the attention on Fed policy.
