Saturday, December 13, 2003

Tristate Summary

From staff reports

Federated names new chairman

Federated Department Stores Inc. Friday said Terry J. Lundgren, president and CEO, will succeed retiring chairman James M. Zimmerman on Jan. 15, confirming the succession announced a year ago. Lundgren, 51, replaced Zimmerman, 59, as president and CEO in February. Lundgren, who joined the department store chain in 1975, becomes the seventh chairman/CEO in its 75-year history.

Convergys to buy some Alltel assets

Convergys Corp. Friday said it will acquire billing and customer care assets of Alltel Communications Inc., a unit of Alltel Inc., for $37 million, plus possible additional payments based on future performance. As part of the purchase, Convergys will begin providing billing services for more than 10.5 million new wireless and wireline subscribers and add Cingular, BellSouth, Centennial Communications and Commonwealth Telephone to its client list. Convergys said it would also add more than 220 Alltell employees as part of the acquisition. A spokeswoman said the acquisition should have no impact on Convergys' Cincinnati area employment.

Willard settles environmental suit

Willard Industries Inc. has signed a consent decree to end a lawsuit brought against it by a local environmental group. The Northside maker of aluminum parts agreed to install pollution-control equipment and verify that it reduces toxic emissions by at least 40 percent, according to the plaintiffs, Environmental Community Organization and Northside property owner Karen Arnett. Willard officials could not be reached for comment.

Variety, quality of airport food soars
Credit cards tune in to radio waves
Wholesale prices dip by 0.3%
Taser stock on the rise
Kroger employees eager to get back on the job
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