Saturday, January 08, 2000
TRISTATE BUSINESS SUMMARY
Fingerhut planning to add 15 clients
Fingerhut Cos. Inc. said Friday that it plans to expand its capacity this year but it can't take on all the companies that want to become customers.
Fingerhut Chief Executive Officer Will Lansing told the Bloomberg Forum that about 200 companies want Fingerhut to handle their distribution. However, it only plans to add 15 clients.
The Internet and catalog company, acquired by Federated Department Stores last year, has 30 clients including eToys, Wal-Mart and Macys.com.
Mr. Lansing said online retailers rushed Fingerhut after failing to meet delivery deadlines last holiday season. Fingerhut wants to tweak its own systems to handle more volume, and eventually build more warehouses, he said.
Fingerhut couldn't hire enough workers to handle the demand this season and staffers had to work overtime. About 300 Macys.com items weren't in stock.
The company shipped 6 million packages in December — a roughly 50 percent increase from December 1998. Fingerhut operates four warehouses.
Roto-Rooter acquires franchise in Las Vegas
Roto-Rooter Services Co., a diviÅsion of Cincinnati-based Chemed Inc., acquired the assets of its franchise in Las Vegas, continuing its campaign to expand through acquisition.
Chemed did not disclose the purchase price, but the franchise, which serves a population base of 1.2 million, generated 1997 revenue of $1.7 million. Roto-Rooter will integrate the operation into its western division.
Roto-Rooter is Chemed's fastest-growing company, operating plumbing, drain cleaning and heating and cooling services.
LCA-Vision reports 50% volume increase
Cincinnati-based LCA-Vision Inc., a provider of laser vision correction services, said fourth quarter procedure volume increased 50 percent from a year ago. The company said it performed 8,541 procedures in the last three months of the year vs. 5,686 a year ago.
For all of 1999, LCA said it did 33,266 procedures. That is up 68 percent from 19,791 the previous year.
Cinergy signs deal with Clarus Corp.
Cinergy Corp. has signed an agreement with Clarus Corp., an electronic commerce procurement provider, to provide the Cincinnati utility holding company with a host of electronic procurement solutions.
Financial terms weren't disclosed but the companies said Atlanta-based Clarus was chosen after an intensive review that included a two-day, in-house workshop comparing Clarus with its leading competitors.
Cinergy hopes to offer electronic procurement to all its work areas by September.
Daniel Boone forest study results awaited
Developers expect to wait at least six months for the results of economic and environmental studies on a proposed resort planned within the Daniel Boone National Forest near Morehead, Ky. but they are confident it will go forward.
They predict a groundbreaking on the Cave Run Lake resort as early as next year and a spring 2003 opening.
RE Advisors was hired in December 1998 by Cave Run Lake Development Corp.
— From staff and wire reports
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