Thursday, February 07, 2002
Broadwing expects lower revenue
The planned sale of Broadwing Inc.'s telephone-directory business has resulted in lower revenue expectations for this year and pushed back when its expects to break even on its cash flow to the third quarter from the second quarter, the parent of Cincinnati Bell said.
Broadwing Inc. , which Tuesday announced the sale of Cincinnati Bell Directory to a management-led group, said the sale will lower total revenues this year by about $800 million to $2.15 billion and reduce earnings before interest, taxes, depreciation and amortization by $50 million to $600 million.
Firm to buy deposits, loans
Western-Southern Life Insurance Co. plans to buy $10 million in deposits and loans from Peoples Community Bancorp, which is buying Kenwood Savings Bank.
The agreement calls for the parent of Peoples Community Bank to transfer $10 million in deposits and loans to Western-Southern and keep the remaining assets and deposits of Kenwood.
From staff reports
Airport screener won't be retained
Airlines more punctual in 2001
PocketScript auction ordered by bankruptcy court
Enron was 'fun' - while it lasted
Chao: Keep 401(k) choices
Cincinnati Financial posts profit
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