Honda to replace Marysville paint line

MARYSVILLE, Ohio - Honda of America Manufacturing Tuesday said it will build a $123 million paint facility at its auto plant here.

Honda called it the largest single investment among a series of renovations and expansions at Honda's two auto plants in Ohio. Construction begins this month on the facility, which replaces the oldest of the plant's original paint lines.

Kroger, union agree in Houston-area pacts

Kroger Co. and the union representing about 10,800 Kroger employees at 106 stores in the greater Houston area said Tuesday that they have ratified two new labor contracts that address both sides' wage and benefits concerns.

Details of the agreements were not released.

Former Boeing official charged in conspiracy

LOS ANGELES - A third former Boeing official was charged Tuesday in the alleged theft of sensitive materials from rival Lockheed Martin Corp. during a competition for a $1.88-billion satellite-launching contract.

Larry Satchell, 65, of Newport Beach was charged with conspiracy to steal trade secrets, conspiracy to violate the Procurement Integrity Act, and obstruction of justice, federal prosecutors said.

Warnaco, SEC reach a deal over reporting

WASHINGTON - Former Warnaco Group CEO Linda Wachner agreed to relinquish $1.3 million of her $6 million 1998 bonus and former company auditor PricewaterhouseCoopers will pay a $2.4 million civil fine to settle federal regulators' allegations of false financial reporting by the big apparel maker.

The agency accused the company of securities fraud for issuing a "false and misleading" press release regarding its financial results.

Retailer reports increase in earnings

ST. LOUIS - Strong sales of women's apparel, footwear and accessories helped lift May Department Stores Co.'s earnings by 5.6 percent in the first quarter, but the results narrowly missed Wall Street expectations.

The St. Louis-based company is the operator of Lord & Taylor, Famous-Barr, The Jones Store and other chains.

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