Saturday, September 09, 2000

Tristate Business Summary

Harte-Hanks to dismiss 82

        Harte-Hanks Inc., the Oakley direct marketing firm, has notified state officials it plans to dismiss 82 employees at its 2950 Robertson Ave. plant starting Oct. 9.

        Company officials didn't return phone calls for comment on Friday.

        According to the notification to Ohio's Department of Job and Family Services, the cuts involve press and printing-machine operators and insert-machine operators.

Elder-Beerman opens tender offer

        Dayton, Ohio-based Elder-Beerman Stores Corp. Friday commenced its previously announced self-tender offer for up to 3.3 million, or about 22 percent, of its common stock.

        Under terms of the offer, the department store retailer invites shareholders to tender their shares at prices they specify but not more than $6 or less than $4.50 a share.

        The offer is to expire Oct. 5, unless extended by the company. In the past year, the company has faced shareholder pressure to increase the stock price, which closed Friday at $4.68 3/4, up 21 cents.

Amazon facility to employ 200 will employ 200 people at a Lexington warehouse where the online retailing giant plans to begin shipping books, music and movies for the Christmas shopping season.

        Employment at the 600,000-square-foot warehouse could reach 500 within two years, said Jeff Young, general manager of Amazon's Lexington center.

        Amazon announced in May 1999 that it planned to employ up to 1,500 Kentuckians at distribution centers in Lexington and Campbellsville.

        The Campbellsville location opened, but Amazon put the Lexington project on hold.

Etch A Sketch maker takes loss

        Bryan, Ohio-based toy maker Ohio Art Co. says it has lost $1.7 million, or $1.96 a share, for the first six months of its fiscal year.

        The company, which makes the Etch A Sketch, blames the losses on slow sales for the coming holiday season.

        Results released this week showed sales dropped 6 percent to $21.4 million for the two quarters ending July 31.

— From staff and wire reports


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- Tristate Business Summary
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