Thursday, August 24, 2000

Tristate Summary


Fifth Third unit signs Nordstrom

        Midwest Payment Systems Inc. has signed a major deal to handle electronic transactions for Nordstrom Inc., making the retailer one of MPS's largest customers.

        MPS, the data-processing arm of Fifth Third Bancorp, will handle credit-card processing for Seattle-based Nordstrom, with annual sales of $5 billion and about 75 U.S. stores. The retailer has agreed to open two stores locally: one downtown and another in Deerfield Township by 2003.

        The deal will add up to $1.25 million in MPS annual revenues.
       

MedPlus finalizes
stock sale to Quest

               MedPlus Inc., the Symmes Township electronic medical records company, this week said it has finalized the sale of 1,535,000 shares of common stock to Quest Diagnostics Inc. for about $8 million.

        Quest — the nation's leading provider of medical diagnostic-testing equipment and services — agreed in June to join forces with MedPlus to co-market the ChartMaxx and Internet-based E.Maxx patient record-keeping systems.

        Quest initially invested $2 million in MedPlus common stock, then also agreed to invest an additional $8 million.
       

Macy's pools Web,
online businesses

               Federated Department Stores said it's pooling management of its Macy's online and catalog businesses in a bid to integrate the merchandise and offer the same brands that are in Macy's stores.

        In the process, Federated will combine merchandising, planning and support of Macy's By Mail catalog operations with those of Macys.com, which operate on opposite coasts. Both will reflect more of the store entity, moving the brand forward in a coordinated fashion.

        Macys.com will relaunch in November, with a broader selection of inventory. The transformation will be final by Feb. 1.
       — From staff reports

       



Provident stock down on outlook
Cinergy to market turbines for maker
Wireless Web for businesses makes staying away easier
For sale: Clearasil brand
Tires from Japan help fill demand
Earnings
Market highlights
Industry notes: Commercial real estate
What's the Buzz?
- Tristate Summary