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Tuesday, December 23, 2003

Roto-Rooter stock continues to climb


Tristate summary

Staff/wire reports

Roto-Rooter Inc. shares continued to climb Monday, up $7.26 to $51.78, as investors bought up the stock after the company's purchase Friday of a hospice-care provider that's been profitable over the years. Cincinnati-based Roto-Rooter - known primarily for its plumbing and drain-cleaning operations - said it will pay $410 million for the 64 percent of Vitas Healthcare Corp. it didn't already own. Roto-Rooter initially invested in Vitas 13 years ago. Roto-Rooter's stock hit $52.80 at one point Monday - its highest in at least 20 years. Also boosting the stock was an investment recommendation from CL King & Associates, a New York-based brokerage. CL King analyst Jim Barrett raised his rating on Roto-Rooter's shares to "strong buy" from "accumulate."

Retired P&G execs to lead UC classes

A group of retired Procter & Gamble Co. executives is teaming with the executive education program at the University of Cincinnati to offer a series of one- or two-day management and business seminars starting in the spring. Cincinnati Consulting Consortium, which includes about 30 former P&G executives, will start in 2004 with courses in marketing or supply-chain management. The program could expand later into a five-day general management course in China.

Bridge Worldwide has new president

Bridge Worldwide has named Jay Woffington as president of the agency. Peter Schwartz, longtime president, will become chairman and chief creative officer. Woffington, a former Procter & Gamble Co. brand manager, joined Bridge two years ago when it bought Adternity Inc. He had been vice president of account services, and had helped Bridge grow its business in the consumer goods and health-care markets.




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Roto-Rooter stock continues to climb
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DVD code cracker has court on his side
W.Va. Krogers hiring again
Fed study finds Freddie, Fannie don't lower rates
Ex-CFO testifies about DaimlerChrysler notes

 

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