Saturday, October 23, 1999
TRISTATE BUSINESS SUMMARY
Bell data service can help small business
Cincinnati Bell Inc. is introducing a low-cost data transport service aimed at small and medium businesses.
Called Lan Advantage Lite, it allows small businesses spread among multiple sites to share electronic mail, data backup, order entry and customer service information.
The service uses the same high-speed digital network used by Bell's larger, heavier bandwidth users. The cost for up to 1.544 megabits a second of capacity is $500 a month plus a $250 installation fee.
Structural Dynamics signs $1.5M contract
Structural Dynamics Research Corp. in Miami Township has won a $1.5 million order for software and services from United Defense LP, an Arlington, Va.-based provider of military ground support and naval armament products.
United Defense's Armament Systems division plans to use SDRC's Metaphase product data management software in developing naval armaments and the Army's Crusader self-propelled cannon system.
Abercrombie & Fitch claims optimism
Abercrombie & Fitch came to the defense of its battered image Friday, saying in a letter to employees that the specialty retailer continues to be an industry leader.
“We wanted you to know from us that we are as enthusiastic as ever about our growth prospects and continuing success,” states the letter from Michael Jeffries, chairman and chief executive.
Stock in the chain, which sells clothes primarily to high school and college students, has fallen from $39.75 two weeks ago to $21.81 Friday on the New York Stock Exchange.
The decline started with reports that sales for the quarter that ends Oct. 30 would be below expectations. Several lawsuits were filed this week that accuse the company of leaking the sales figure to one Wall Street analyst while continuing to tell investors that sales would meet expectations.
KeyCorp's credit card portfolio for sale
Cleveland-based KeyCorp said Friday that it has decided to sell its $1.3 billion credit card portfolio, which shrank 10 percent in the past 12 months, by early next year to help boost profits.
“It's not a significant business for KeyCorp, and it's not growing,” said Bill Murschel, a spokesman at KeyCorp, the 11th-largest U.S. bank.
KeyCorp said in May that it might sell some units to boost earnings, which lag those of some other regional banks.
Fee income from the portfolio dropped to $16 million in the third quarter from $21 million in the second quarter, and its loans outstanding have fallen from about $1.45 billion in the past year.
Wendy's blocks firm from using its name
A Dallas company has been banned from using Wendy's International trademark names on the Internet.
Correction: The article as originally published stated that Wendy's accused Brenan M. Hofstadter and his company, Beswick Adams Corp. Mr. Hofstadter's was the victim of identity theft and worked with his attorney to transfer the domains to Wendy's.
The company, based in Dublin, Ohio, filed a lawsuit last month in U.S. District Court. Both sides signed a consent decree that bans Mr. Hofstadter and his company from using the trademarks.
Houses for sale on 'Net
Shell expands easyPay plan to Cincinnati
Experts: Cities can rework arts
Elsie the Cow changed industry's image
For $15 million, Duramed settles Cenestin sales dispute
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PEOPLE ON THE MOVE
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Stock exchanges plan extended hours
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