Wednesday, April 14, 2004

Business digest



Domino's plans public stock offering

DETROIT - Domino's Pizza Inc. said Tuesday that it plans to sell its stock to the public for the first time in its 44-year history. In papers filed with the Securities and Exchange Commission, Domino's said it expected its proposed initial public offering would raise $300 million.

Both the company and its shareholders would offer shares, the Ann Arbor, Mich.-based company said in a statement, but did not say how many.

Domino's Pizza operates and franchises more than 7,400 pizza delivery and carryout restaurants in all 50 U.S. states and more than 50 international markets.

Huffy sheds unit; stock drops 19%

MIAMISBURG, Ohio - Huffy Corp. reduced its first-quarter outlook Tuesday and said it has agreed to sell its services unit to Texas-based National Product Services Inc. for an undisclosed amount. The news sent the company's stock down 19 percent.

Huffy makes bicycles and sporting-goods equipment. Its services unit offers in-store assembly, repair, installation and merchandising.

Canadian pharmacies to sell from Europe

NEW YORK - Canadian Internet pharmacies are turning to Europe for supplies, as pharmaceutical companies are choking off prescription drugs sent north to stop the flow of cheap medicines back to the United States.

Canadameds.com will start selling drugs from England on its Web site within the next week, and Universaldrugstore.com plans to start selling medicines from Ireland within a month.

Jury to resume Qwest deliberations

DENVER - The federal jury deciding the fate of four former Qwest executives accused of improperly booking nearly $34 million in revenue was ordered back to work Tuesday after reaching verdicts on 24 of the 44 charges.

The jury late Monday said told U.S. District Judge Robert Blackburn their work had stalled. The judge ordered them to resume deliberations.

Wire reports




BUSINESS HEADLINES
Poll: Tax refunds come and go fast
Professor looks inside 'The Toyota Way'
Shoppers splurged in March
Smooth Sailing
Cognis names new head of U.S. operations here
Churchill Downs bids $45M for La. track
High-tech wineries making a statement
Tristate business summary
Business digest