Wednesday, June 28, 2000

Tristate Business Summary




GEAE gets second buyer for engine
        Boeing and GE Aircraft Engines have announced the second customer for the long-range Boeing 777, powered exclusively by the GE90.

        EVA Airways Corp., Taiwan's second-largest carrier, said it ordered four longer-range 777-300s and three longer-range 777-200 jetliners and took options on up to eight more in an order potentially valued at $3 billion. The engine portion of the deal could be worth more than $330 million, if all options are exercised.

        In March, Japan Airlines became the first customer for the new long-range 777, ordering eight of the twin-jets.

Hillenbrand down despite good news
        Shares of Batesville, Ind.-based Hillenbrand Industries lost 683/4 cents Tuesday, closing at $32.371/2, even though the funeral products and health-care company beat analysts' second-quarter earnings estimates.

        For the three months ended May 27, Hillenbrand reported net income of $36 million, or 56 cents a share, exceeding analyst estimates of 53 cents.

        For the year-ago period, Hillenbrand reported net income of $35 million, or 53 cents a share, after unusual items. Revenues for the second quarter declined to $503 million from $524 million a year ago.

Jeep workers get longer break
        DaimlerChrysler AG is idling 2,800 workers, or 56 percent of the work force, at a Jeep assembly plant in Ohio for two weeks beyond the traditional summer shutdown to ease excess sport-utility vehicle inventories.

        The workers building the Jeep Cherokee were idled ahead of the annual two-week retooling shutdown that begins Monday at the plant in Toledo. They will receive 95 percent of their pay under a new United Auto Workers union contract.

— From staff and wire reports

       



P&G selling domain names
Skateboard fan's dream: Indoor park
Program offers the basics of business
Industry notes: Retail
Monroe chosen as possible home for new Kohl's distribution center
- Tristate Business Summary
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