Tuesday, April 02, 2002

Tristate Summary

Fingerhut union plans rally here

Enquirer staff and news services

        Fingerhut union members plan to rally at the headquarters of parent company Federated Department Stores in Cincinnati on Friday — the day Federated plans to begin laying off Fingerhut employees.

        At a rally in St. Cloud, Minn., close to 400 members of Union of Needletrades, Industrial and Textile Employees (UNITE) Local 978 heard their international vice president, Noel Beasley, call for the protest, as well as the possible start of a nationwide union boycott.

        Mr. Beasley called for state and federal investigations, saying Federated has not been sincerely trying to sell the catalog retailer intact. He said Federated set an unrealistic time line for Twin Cities businessman Peter Lytle to buy Fingerhut., a catalog retailer.

        Wellstone said he hopes there's no need for such investigations but, as chairman of the Senate committee dealing with health and labor issues, he was ready to lead them.

        Keeping to a schedule announced in January, Federated plans to lay off 3,300 Fingerhut workers Friday. About 3,000 will be in Minnesota.

CFO retires at E.W. Scripps Co.
               E.W. Scripps Co., owner of 21 daily newspapers and the Home & Garden Television cable network, Monday said chief financial officer Daniel Castellini retired from the company after 31 years.

        Mr. Castellini, 62, guided Cincinnati-based Scripps through its initial public offering in 1988, the company said. The retirement was effective Sunday.

        Mr. Castellini, who said in December that he planned to retire, was promoted to senior vice president and chief financial officer in 1986.

Oil price jump hurts Goodyear
               Goodyear Tire & Rubber Co. shares fell 7.3 percent Monday amid concern that profit at North America's largest tire maker will suffer from a jump in oil prices.

        The shares fell $1.87 to $23.70 on trading of 2.85 million, more than double the three-month daily average.

        About 25 percent of Akron, Ohio-based Goodyear's cost to make a tire comes from crude oil. The price of crude oil jumped to a six-month high on concern that shipments from the Middle East might be disrupted by fighting between Israel and the Palestinians.


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- Tristate Summary