Wednesday, March 10, 2004

Business summary

Banana prices fall in last two months

Chiquita Brands International Inc. Tuesday said banana prices in Europe and North America fell during January and February. In Europe, prices on a local-currency basis fell 10 percent from the same period last year, while North American average prices fell 6 percent, Chiquita said. Volume fell 3 percent in Europe and increased 2 percent in North America, Chiquita said. The company's stock price fell after the morning announcement to close down $1.25 to $20.75.

O'Gara gets $10M to armor Humvees

Fairfield's O'Gara, Hess & Eisenhardt armoring unit has received an expected $10million contract to supply the Army with gunner shields, armored overlay doors and bullet-resistant windshields that will be installed in Humvees in the field. The work is to be completed this year. The contract is part of $15 million in two contracts received by O'Gara's parent ArmorHoldings Inc. The other contract is for accelerated delivery of body armor worn by Army aviators. The company said the armoring supply agreement was previously factored into its earnings results for this year and won't change its outlook.

Staples to open Hyde Plaza store

Staples Inc., the nation's No. 2 office supply superstore, has signed a 10-year lease at Hyde Park Plaza shopping center. The 14,700-square-foot office supply center is to open this summer. Terms of the lease were not disclosed.

Manager hired for Cincinnati Mills

The Mills Corp. has hired Jim Childress, former general manager at Eastgate Mall, to be general manager at Cincinnati Mills. The 1.5-million-square-foot retail and entertainment complex just off Interstate 275 on the border of Forest Parkand Fairfieldis to open Aug. 10.

Staff reports

Buoyant P&G splits its stock
N.Ky. gets plan for high-tech growth
Northlich pulls anti-smoking ad from contests, but not TV
CG&E plan: 'Unacceptable'
MTV, VH1, Nickelodeon out on Dish
Labor strife bashes Kroger's earnings
Business summary
Viacom lawyer to join E.W. Scripps
Printed or digital, tomes struggle
Kmart faces Stewart question
Business Digest