Friday, September 17, 1999
TRISTATE BUSINESS SUMMARY
PC On Call adds technology service
PC On Call, the Cincinnati-based mobile computer repair service, is introducing an information technology service for small and medium businesses.
“This is a more extensive service than the break-fix service we've offered in the past,” said Paul Cashen, company president.
Under the Mobile IT Plan, PC On Call will act as a company's information technology department for a fixed fee, providing services ranging from consulting to system implementation to trouble-shooting. The annual cost is about $8,000 instead of the $40,000 to $60,000 that the average information technology professional costs, the company said.
PC On Call said the Mobile IT Plan can be purchased yearly, monthly or quarterly.
Ashland to buy back more of its shares
Ashland Inc.'s board has authorized the repurchase of an additional 3 million shares of stock in the Covington-based oil, specialty chemical and highway construction company.
Since August 1998, Ashland has repurchased about 6 million shares on the open market and had authority to repurchase about 360,000 shares under a prior authorization.
“We continue to believe that our current share price is an exceptional value and that our stock buyback program represents an excellent allocation of our capital,” said Paul W. Chellgren, Ashland chairman.
Ashland has about 71.8 million shares outstanding.
P&G files to sell $3.825B in securities
Cincinnati-based Procter & Gamble Co. filed a “shelf registration” to sell $3.825 billion of debt securities and warrants.
P&G said it will use proceeds from securities sales for general corporate purposes.
The shelf registration lets Procter & Gamble register the securities in advance and then take the bonds “off the shelf” and sell them when market conditions are favorable or financing needs arise. The terms of the securities are available at the time of sale.
Gatorade plant to add 200 jobs in Indianapolis
Quaker Oats Co. is breaking ground for a $115 million Gatorade plant that is expected to bring about 200 jobs to Indianapolis.
The plant is being built in an industrial park near the Indianapolis International Airport.
Quaker officials announced the expansion Wednesday and said the plant is scheduled to begin producing Gatorade beverages in January 2001.
The 200 jobs would almost double Quaker's work force in Indianapolis.
KFC expands menu with meals on a bun
The fast-food chicken giant known for serving up meals by the bucket has started putting chicken on a bun.
KFC, a subsidiary of Louisville-based Tricon Global Restaurants Inc., started offering chicken sandwiches at most stores nationwide this week and plans to unveil a media blitz this weekend to promote the new menu line that puts it in head-to-head competition with hamburger chains.
KFC's line of five, freshly made sandwiches is meant to bolster lunch business and expand from its traditional chicken-and-potatoes dinner fare.
KFC said it will spend $75 million on advertising, equipment and new menu boards to introduce the sandwiches, including one that incorporates KFC founder Col. Harland Sanders' original 11 herbs and spices.
Casinos lure Ky. patrons
'Affordable' country club expands
Eatery shifting attitude
TRISTATE BUSINESS SUMMARY
INDUSTRY NOTES: MANUFACTURING
PEOPLE ON THE MOVE
U.S. gives in on encryption
UAW gains raise, clout in tentative deal
TRISTATE MARKET SPOTLIGHT
