Kansas City Star: Business

Cityscape | Big Momma's Bakery-Cafe moves to Crown Center

Mon, 06 Jul 2009 22:15 CDT

Big Momma’s Bakery-Cafe has relocated from Raytown to Crown Center Shops. Two of the three sister/owners — Jackie Buycks and Joyce Brown — made the move. They are still selling their giant cinnamon rolls and homemade dinner rolls, which customers lined up for during the bakery’s opening last week.

In a market response, condos shift to rentals

Mon, 06 Jul 2009 22:15 CDT

Kevin McGowan arrived from St. Louis in 2005 with the ambitious goal of assembling a 2 million-square-foot portfolio of downtown residential properties by the end of the year. He started big — the H.D. Lee and J.I. Case buildings in the Crossroads Arts District — with the goal of renovating them into 223 luxury condominiums.

TWA staff will leave American

Mon, 06 Jul 2009 22:15 CDT

When the parent company of American Airlines bought Trans World Airlines in 2001, more than 4,000 TWA flight attendants joined the merged airline. After American goes through another round of layoffs in October, the remaining 210 ex-TWA flight attendants will be let go and thus end their presence at American.

Legal ethics course helps out charities

Mon, 06 Jul 2009 22:15 CDT

As part of continuing legal education, a prerequisite for maintaining law licenses, local lawyers must take two hours of legal ethics courses annually.

Not quite a victory for Rosie

Wed, 08 Jul 2009 22:15 CDT

This recession may do what Rosie the Riveter and Gloria Steinem never intended: We could end up with more women on payrolls than men.

Obama's job is not to run the economy

Fri, 12 Jun 2009 22:15 CDT

Predictably, the economic future looks brighter to President Barack Obama than it did to candidate Obama. Such is the nature of the job.

One way to pay for health care reform: Eliminate wasteful spending

Mon, 06 Jul 2009 22:15 CDT

The debate over health care insurance reform pounds away like a throbbing headache. The pain becomes most intense when you focus on the projected cost of a comprehensive plan from the Congressional Budget Office: $1.6 trillion over 10 years. But play along with me while I administer an analgesic.

McDonald's teams with Visa to offer employees a financial education

Fri, 03 Jul 2009 22:15 CDT

Quarter pounders with cheese and quarter-point credit card interest rate hikes. Both cooking and financial skills are being taught these days to more than 500,000 McDonald's restaurant employees.

Schlitterbahn could open within a week

Tue, 07 Jul 2009 13:18 CDT

The business of water is everywhere in Kansas City

Mon, 06 Jul 2009 21:23 CDT

Forbes' 100 most powerful celebrities

Thu, 02 Jul 2009 12:56 CDT

Madoff sentenced to 150 years in prison

Mon, 29 Jun 2009 12:28 CDT

Business Calendar: July 7 and later

Sun, 05 Jul 2009 22:15 CDT

TUESDAY GSA NETWORKING BREAKFAST: 7:15 a.m. July 7, Kauffman Foundation, 4801 Rockhill. $18-$20. Go to www.gsa.gov/r6smallbusiness, call 816-926-7203 or e-mail pat.brown-dixon@gsa.gov.

Jobless claims indicate economy remains weak

Thu, 09 Jul 2009 07:37 CDT

Even though new claims for jobless benefits fell more than expected last week, dipping below 600,000 for the first time since early January, the number of Americans seeking this safety net points to an economy that is still very weak.

Commodities move higher as risk appetite grows

Thu, 09 Jul 2009 16:22 CDT

Investors moved money back into commodities Thursday, sending prices for gold, copper and soybeans higher as they stepped up their willingness to take on risk.

Business Highlights

Thu, 09 Jul 2009 16:57 CDT

GM sale cleared, path opens to exit Chapter 11

Banks cut Fed borrowing, sign credit stress easing

Thu, 09 Jul 2009 15:32 CDT

Banks trimmed borrowing from the Federal Reserve's emergency lending facility over the past week and cut back on other programs designed to ease the financial crisis, promising signs that some credit problems are easing.

Bank of England holds key rate at 0.5 percent

Thu, 09 Jul 2009 07:12 CDT

The Bank of England kept its key interest rate on hold at a record low 0.5 percent Thursday and surprise markets by saying it would not for the moment seek to expand its 125 billion pound cash injection into the British economy.

Target June same-store sales fall 6.2 percent

Thu, 09 Jul 2009 07:57 CDT

Discount retailer Target says its same-store sales fell 6.2 percent in June as customers continued to shop sparingly and spend mainly on necessities such as healthcare products and food.

Art of the Car Concurse winners named

Thu, 09 Jul 2009 16:19 CDT

KANSAS CITY, Mo. (July 9, 2009) –– Five “People’s Choice” awards were presented to top vote-getters at the third annual Art of the Car Concours, held June 27 on the campus of the Kansas City Art Intitute. The winners: read more

A Night in Sports Honoring Outstanding Athletes

Thu, 09 Jul 2009 14:59 CDT

(July 2009) – The SportKC PROPS Award Show (Party Honoring Outstanding Athletes of Sports), hosted by the Kansas City Sports Commission and Foundation (KCSC&F), will be held this Thursday, July 16 at the Midland Theatre. read more

Swingin' blues FREE July 16th at the Tuileries

Thu, 09 Jul 2009 14:41 CDT

"Young Dancers" Courtesy of John PolzinCourtesy of John Polzin: Crowd Shot read more

Camp Guardian Media Day

Thu, 09 Jul 2009 11:58 CDT

EVENT: Camp Guardian Media Day DATE/TIME: Thursday, July 23, Noon to 9 p.m. LOCATION: Camp Farwesta 6091 SW Highway 36 Stewartsville, MO 64490 KANSAS CITY, Mo. – Each summer, Missouri Guard members join dozens of children and adults with special needs are treated to a taste of the great outdoors, courtesy of a week-long, action-packed recreational camp. read more

The Closing Bell | Sprint, YRC shares gain ground

Thu, 09 Jul 2009 15:57 CDT

Investors liked deals spun Thursday by YRC Worldwide and Sprint Nextel. Shares in YRC, the Overland Park trucker, gained 60 cents to close at $1.49. The company early Thursday announced contract concessions with the Teamsters as part of a plan to restructure finances.

Kansas to consider equalizing Westar rates

Thu, 09 Jul 2009 14:59 CDT

TOPEKA | Kansas regulators are considering a big step toward equalizing rates for customers of the state's largest electric company, reviving an old political debate, but with a twist.

New GM moves closer to escaping bankruptcy

Thu, 09 Jul 2009 14:33 CDT

The path is now clear for GM to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.

Sprint to roll out WiFi on the Tour next year

Thu, 09 Jul 2009 17:17 CDT

From Fierce Wireless comes this news about Sprint's plan to release an updated version of the BlackBerry Tour next year. The kicker: The Tour will include WiFi. "Sprint is embracing WiFi in all its major devices going forward," said Jeff Clemow, the company's director of business product marketing.

Verizon Wireless eliminates 50 in Arkansas

Thu, 09 Jul 2009 17:09 CDT

Bloomberg News reports that Verizon Wireless has laid off 50 workers in Arkansas who were part of the former Alltel Corp., which Verizon acquired in January. Verizon spokesman Scott Morris said the cut made up the bulk of 80 people who were laid off across the company. Morris says the workers were notified of the layoff on Thursday, but that their last day will be 30 days from now. The Arkansas layoffs came as part of the process that Verizon is going through to identify redundant positions among its corporate staff. Morris says the layoffs were in human resources, finance, security and other areas. read more

Sprint hires Ericsson to run network, take 6,000 employees

Thu, 09 Jul 2009 11:28 CDT

Sprint Nextel today said the Swedish telecom company Ericsson would run its network for the next seven years. The deal includes the transfer of 6,000 Sprint workers to Ericsson, which is expected to receive between $4.5 billion and $5 billion payments for services over the life of the contract. There was no immediate word on how many of the transferred workers are in the Kansas City area. The companies did say that no layoffs were planned and that the transferred employees would become part of Ericsson Services Inc., a wholly-owned Ericsson subsidiary based in Overland Park. read more

Hesse likes Sprint's numbers

Thu, 09 Jul 2009 10:23 CDT

Staff reporter Diane Stafford filed this story Thursday morning Sprint Nextel is No. 3, and that’s fine with CEO Dan Hesse. Sprint’s position in the telecom industry — behind AT&T and Verizon, which have large land line businesses — allows it to be more nimble and innovative in wireless service, Hesse said today in Kansas City. “We expect to be No. 3 for a long time, but it’s a great place to be,” he told members of the Greater Kansas City Chamber of Commerce at the chamber’s annual Innovation Conference. read more

Sprint tops PC World network test

Wed, 08 Jul 2009 16:41 CDT

Sprint does well in network test by PC World. Here's the PC World report. And here's Sprint's release: A 3G comparison test by PC World found Sprint (NYSE:S) as the more reliable network over Verizon and AT&T in 13 cities examined by the magazine, providing further support for Sprint’s “most dependable 3G network” claim. read more

Recession forces more older workers to put off retiring

Thu, 09 Jul 2009 22:15 CDT

The recession is keeping some older workers on the job beyond the time they intended to retire. In some industries, such as nursing, that’s a good thing — it’s helping ease worker shortages. In other workplaces, the lack of turnover is keeping younger workers from landing jobs.

Kansas to consider equalizing Westar rates

Thu, 09 Jul 2009 19:09 CDT

TOPEKA | Kansas regulators are considering a big step toward equalizing rates for customers of the state's largest electric company, reviving an old political debate, but with a twist.

Starwatch consumer | Airlines' performance improves; mortgage rates decline

Thu, 09 Jul 2009 22:15 CDT

On schedule U.S. airlines have cut many flights, and they are getting better at staying on schedule with their remaining flights, as more trips arrived on time in May than a year earlier.

Lawsuit alleges wages paid Pizza Hut delivery drivers fall below mandated minimums

Thu, 09 Jul 2009 22:15 CDT

Thousands of Pizza Hut delivery drivers get paid less than minimum wage because their employer doesn’t pay their automobile and other job-related expenses, a lawsuit asserts. The lawsuit, originally filed in May in federal court in Kansas City, Kan., and amended last week, was brought against NPC International Inc. of Overland Park, the largest Pizza Hut franchisee in the world. NPC operates 1,161 Pizza Hut restaurants in 28 states, including Missouri and Kansas.

Sprint CEO says company is in position to be more innovative

Thu, 09 Jul 2009 22:15 CDT

Sprint Nextel is No. 3, and that’s fine with CEO Dan Hesse. Sprint’s position in the telecom industry — behind AT&T and Verizon, which have large land-line businesses — allows it to be more nimble and innovative in wireless service, Hesse said Thursday in Kansas City.

Google takes on Microsoft with Internet-based operating system

Thu, 09 Jul 2009 22:15 CDT

Google Inc.’s plan to launch its own computer operating system is a direct assault at the heart of Microsoft Corp., and its bold move could fundamentally change the way personal computers are used. Under Google’s new operating system, dubbed “Chrome OS,” people would play games, store photos and work on spreadsheets for free over the Internet, reducing the need for powerful software and large hard drives on their personal computers.

Heads Up | New jobless claims fall, retail sales weak in June

Thu, 09 Jul 2009 22:15 CDT

Jobless report New claims for jobless benefits fell 52,000 last week, to 565,000, dipping below 600,000 for the first time since early January. But nearly 7 million Americans still are collecting unemployment, indicating an economy that is still very weak. The drop in new claims was mostly due to a shift in the timing of auto-related layoffs, leading many economists to discount the decline.

Home builder F. Jeffrey Miller gets third indictment

Thu, 09 Jul 2009 22:15 CDT

Kansas City area home builder F. Jeffrey Miller has been indicted for the third time — this time over the purchase of a commercial mower. Miller already faces sentencing for his December conviction for conspiracy, bank fraud and money laundering. He also is awaiting trial on additional bank fraud and money laundering charges.

GM emerging from bankruptcy

Thu, 09 Jul 2009 22:15 CDT

The new General Motors is about to roll off the assembly line as a leaner, greener model, maybe even a profitable one. GM was expected to emerge from bankruptcy protection by early today cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.

YRC, Teamsters reach tentative pact on concessions

Thu, 09 Jul 2009 22:15 CDT

Once again, drivers and dock workers at YRC Worldwide Inc. will be asked to accept cuts in their national contract to help keep the struggling trucker on the road. Overland Park-based YRC and the Teamsters union announced a tentative agreement Thursday on further concessions, although details won’t be released until next week.

Tech gurus tear down newest gadgets

Wed, 08 Jul 2009 22:15 CDT

What Luke Soules did with his brand-new Palm Pre, and what he does routinely with new cell phones, laptops and other digital devices, is called a “teardown” — a trend growing among geeks.

Another analyst speculates on likelihood of bankruptcy for YRC

Wed, 08 Jul 2009 22:15 CDT

Another analyst’s report speculating on the likelihood of bankruptcy for YRC Worldwide Inc. sent the trucker’s stock below the $1 mark Wednesday.

Kansas City salaries increase by just 1.8 percent in 2009

Wed, 08 Jul 2009 22:15 CDT

Salary increases in the Kansas City area this year averaged an estimated 1.8 percent, according to the Society for Human Resource Management of Greater Kansas City.

Arts council gains stimulus money

Wed, 08 Jul 2009 22:15 CDT

The Arts Council of Metropolitan Kansas City is getting $250,000 in American Recovery and Reinvestment Act money to share with other arts organizations in the metro area.

1st Financial agrees to improve handling of problem loans

Wed, 08 Jul 2009 22:15 CDT

Overland Park-based 1st Financial Bank has agreed to improve its handling of problem loans and reduce its use of brokered deposits in a written agreement with regulators.

Block Real Estate Services does what the new name says

Wed, 08 Jul 2009 22:15 CDT

One of the two business units under the Block & Co. name now has its own, Block Real Estate Services.

Business briefs | Consumer credit falls, aluminum demand drops

Wed, 08 Jul 2009 22:15 CDT

Less credit The Federal Reserve said Wednesday that consumer credit fell at an annual rate of 1.5 percent, or by $3.2 billion, from April. Economists had expected a deeper cut of $9.5 billion. It was the fourth straight monthly consumer credit decline as the recession took another bite out of investments and drove unemployment higher.

Starwatch Consumer | Amazon.com cuts price of Kindle electronic reader

Wed, 08 Jul 2009 22:15 CDT

Kindle price cut Amazon.com. has cut the price of its Kindle electronic reader by 17 percent to $299.

Heads Up | Economic rebound predicted; oil prices still sliding

Wed, 08 Jul 2009 22:15 CDT

Slow rebound The global economy is beginning a sluggish recovery from its worst recession since World War II, the International Monetary Fund said Wednesday. The IMF increased its estimate for global economic growth in 2010 to 2.5 percent from an April projection of 1.9 percent. At the same time, it slightly downgraded its forecast for this year to a contraction of 1.4 percent from 1.3 percent.

Pickens drops plan for giant wind farm

Tue, 07 Jul 2009 22:15 CDT

T. Boone Pickens is ditching his plans for a giant wind farm in Texas and wants to build some smaller ones in other places, possibly including Kansas.

Bank Midwest shakes up management team

Tue, 07 Jul 2009 22:15 CDT

Bank Midwest has shaken up its management team, promoting two members of the Dickinson family, which owns the $4.3 billion institution.

KC area's meal-assembly shops face the recession

Tue, 07 Jul 2009 22:15 CDT

Virtually unheard of six years ago, meal-assembly shops heated up quicker than dinner in a microwave. Then the recession rolled in, slumping sales like cool air on a baking soufflé.

United Express to add nonstop KCI-San Francisco service

Tue, 07 Jul 2009 22:15 CDT

United Express, the regional service of United Airlines, on Oct. 25 will begin offering nonstop Kansas City-San Francisco service through SkyWest Airlines.

RiseUp publisher owes $6 million, holds assets of $6,900

Tue, 07 Jul 2009 22:15 CDT

RiseUp, the short-lived magazine on race, religion and ethnicity whose parent company sought bankruptcy protection in June, owes creditors nearly $6 million while claiming assets of $6,900.

Oil price decline worries Wall Street

Mon, 06 Jul 2009 22:15 CDT

NEW YORK | Investors are fearing they may have bet too soon on an economic comeback. Stocks ended mostly lower Monday as drops in prices for oil and other commodities had investors worrying again that demand for basic materials may remain slack. The major market indexes closed mixed but off their lows for the day.

Starwatch Consumer | Air fares slashed; painkiller overdose warnings

Tue, 07 Jul 2009 22:15 CDT

Fare cuts Southwest Airlines Co. is offering one-way fares of $30, $60 or $90 to generate demand when the peak U.S. travel season wanes in September. American Airlines matched the sale.

Heads Up | KCI air fare tweets; Garmin GPS for motorcycles

Tue, 07 Jul 2009 22:15 CDT

Cheap chirps For those who want immediate airfare updates on flights out of Kansas City, FareCompare.com has a service for you. You can now get tweets when there is any change in ticket prices on flights out of KCI at www.twitter.com/ flyfromMKC. Rick Seaney, FareCompare's CEO, said the feature provided through Twitter.com is the culmination of years of trying to merge real-time technology with bargaining-hunting for airfares. Read more about this at Dollars & Sense at Economy.KansasCity.com.

List of RiseUp's major creditors

Tue, 07 Jul 2009 22:15 CDT

RiseUp creditors Major creditors of RiseUp and the amounts they are owed:

Water is a big business in Kansas City, in more ways than you might imagine

Mon, 06 Jul 2009 22:15 CDT

In the City of Fountains, water is everywhere. Utility companies pump thousands of gallons to thirsty customers each day. At Kauffman Stadium, the fountains are a cherished part of the game-day experience. Visitors from around the Midwest travel to Oceans of Fun to find fun ways to stay cool.

Sprint has role in next year's census

Mon, 06 Jul 2009 22:15 CDT

The U.S. census is wrapping up preparations for making next year's count, which will use a communications network and support provided by Sprint Nextel. Sprint was picked in 2006 by Harris Corp., the systems integrator for the census, to be the exclusive wireless data provider and to provide both wireline and wireless support.

Assembly plant at KCI for battery-powered delivery trucks delays start

Mon, 06 Jul 2009 22:15 CDT

Smith Electric Vehicles has begun training supervisors in Great Britain for its new Kansas City assembly plant but has pushed back the scheduled start of operations by a month. Bryan Hansel, the CEO, said about a dozen employees were in Britain being trained to manage the facility, planned for a vacant building at Kansas City International Airport. SEV U.S. Corp. plans to assemble battery-powered delivery trucks and expects to hire 120 people during the first phase of operations.

Already cheap, gasoline prices could drop more in KC area

Mon, 06 Jul 2009 22:15 CDT

Missouri had the cheapest gasoline in the country Monday, according to AAA, and Kansas wasn't far behind. What's more, a further decline could be on the way. Prices at many Kansas City area stations dropped a few cents Monday, capping a recent series of declines that have brought the cost of a gallon of gas down about 20 cents. AAA said Monday that regular gas in the area on the Missouri side averaged $2.36 per gallon. On the Kansas side, it was $2.42 per gallon. Kansas' state gas tax is higher than Missouri's, accounting for much of the difference.

Lawyer from Polsinelli Shughart moving to role at Justice Department

Mon, 06 Jul 2009 22:15 CDT

Sometimes it helps to know the right people. Before joining the Polsinelli Shughart law firm three years ago, Doug Kramer practiced commercial litigation for five years at Covington & Burling in Washington, D.C. There he got to know a former deputy attorney general named Eric Holder, who joined Covington in 2001.

Johnson County Community College is praised as a great place to work

Mon, 06 Jul 2009 22:15 CDT

Johnson County Community College is a “great college to work for,” according to the Chronicle of Higher Education. The Chronicle's 2009 Great Colleges Program put JCCC on its honor roll for large community colleges, those with 10,000 students or more.

GM timetable faces a big glitch this week

Mon, 06 Jul 2009 22:15 CDT

Unsettled injury claims could delay the scheduled birth Thursday of a new General Motors Corp. under the automaker's bankruptcy-court-approved reorganization. Hundreds of consumers still have injury-related liability lawsuits against the company. They may yet seek a court stay to temporarily delay the sale of GM's assets to a new company that would be freed of their claims.

Panel Discussion by Bob Unell

Mon, 06 Jul 2009 22:15 CDT

Madoff's anatomy