Wednesday, March 17, 1999
TRISTATE BUSINESS SUMMARY
Bigg's takes over as tennis sponsor
The Bigg's supermarket chain joins the Great American Insurance ATP Championship this year, replacing Thriftway as host sponsor at the Aug. 9-15 professional tennis tournament.
The Cincinnati Enquirer andthe Cincinnati Post are also host sponsors of the $2.45 million Mercedes Super 9 event.
This year, the event will celebrate the 100th anniversary of tennis tournaments in Cincinnati, which began with the Tri-State Championship in 1899. The ATP championship is presented by Relco Resources.
Bigg's, based in Milford, has 10 stores and is a subsidiary of SuperValue Corp. of Minneapolis.
Elder-Beerman names chief financial officer
Scott J. Davido, Elder-Beerman Stores Corp. senior vice president, general counsel and secretary, has been named executive vice president, chief financial officer and treasurer of the Dayton department store chain.
He reports to John A. Muskovich, president and chief operating officer, who has also been serving as chief financial officer.
Mr. Davido, 37, joined Elder-Beerman in 1997.
GE deal "ridiculous,' Boeing tells employees
Boeing Co. Chairman and Chief ExÅecutive Phil Condit has told employees that General Electric Co. has no plans to buy his company's commercial-jetliner division, the world's biggest.
In a memorandum sent to Seattle-based Boeing's workers Friday, Mr. Condit said speculation of a purchase is “so ridiculous, (it) can't be ignored.” Internet chat boards, where one anonymous user also posted Mr. Condit's e-mail memo, have been rife with talk of a GE buyout for several months.
GE, the second-most valuable U.S. company by market capitalization, owns the world's No. 1 jet engine maker, GE Aircraft Engines, based in Evendale, and the biggest commercial-jet leasing company.
“We have denied the rumor. GE has denied the rumor. We can put that one to bed,” Mr. Condit wrote in the memo, which was confirmed as authentic by a Boeing spokeswoman.
Ford begins adding workers at Lorain
For the first time since closing the Thunderbird-Cougar line in 1997, Ford Motor Co. has started hiring workers at its Lorain Assembly Plant in Ohio.
Hiring began last week for Econoline full-sized van operations. Of the 125 full- or part-time workers being added, 85 will be new hires, Ford spokesman Nick Sharkey said.
The Lorain plant performs the final production work on the Econoline van. Econoline production begins at the Ohio Assembly Plant in nearby Avon Lake.
When Ford cut the Thunderbird-Cougar line, more than 600 workers moved to the Kentucky Truck Plant in Louisville, where Ford makes the F-Series truck line.
Project will expand nuclear plant's output
FirstEnergy is planning a $16 million project to increase output at its Perry Nuclear Power Plant in northeast Ohio.
The two-year project will increase the plant's output by 60 megawatts, or enough electricity to power about 70,000 homes a day. The plant now generates 1,205 megawatts.
The Nuclear Regulatory Commission still must approve the power increase.
Dow cracks 10,000, retreats
Investors trying to keep focused
Q & A: How crests can affect investing
Brand-name companies lead rally
P&G has helped drive index
Brokers cheered, then went back to work
What is an index?
First-day close in 1896 was 40.94
Making 200 - now that was a leap
Fifth Third in no rush for mergers
Oil of Olay's new line says it with flowers
PETA to cease fire on Pepper
Sale helps firms expand
Service Merchandise forced into bankruptcy
European Union in crisis
INDUSTRY NOTES: MEDIA & MARKETING
PEOPLE ON THE MOVE
TRISTATE BUSINESS SUMMARY
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