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Thursday, September 23, 2004

Business digest



On-the-job deaths up slightly in 2003

WASHINGTON - Workplace fatalities in the United States rose slightly to 5,559 last year, with the most deaths occurring in the construction and transportation industries. Hispanic workers continued to have the highest on-the-job death rate, the Labor Department said Wednesday.

Fatalities in 2003 inched up from 2002, when 5,534 people died on the job - the lowest on record since the survey began in 1992. For both years, the numbers translate to four deaths a year per 100,000 workers.

Airline seeking revised labor terms

US Airways Group Inc., which sought bankruptcy protection last week, will seek court permission Friday to impose new labor contract terms to reduce costs if tentative agreements with unions can't be reached.

Chief executive Bruce Lakefield told workers in a message that the airline needs to lower costs to preserve cash as the company enters the seasonally slow U.S. autumn and winter months. The company sought union approval to impose immediate cost reductions, including pay cuts.

Ford and GM offer longer no-rate loan

DETROIT - General Motors Corp. and Ford Motor Co., the two largest U.S. automakers, will offer no-interest loans of as long as six years on most 2004 cars and trucks to clear them from dealer lots amid slow sales.

The financing, an increase from a maximum length of five years, will be available Tuesday through Sept. 30 at GM, the company said in a fax sent to dealers. Ford's offer, its longest term ever for the loans, runs from Sunday through Sept. 30.

Outback completes Chi-Chi's buyout

LOUISVILLE - Outback Steakhouse Inc. this week closed on its $42.5 million deal for the rights to 76 restaurants in the Chi-Chi's chain, which was beleaguered by bankruptcy and a hepatitis outbreak.

Outback plans to convert many of the restaurants into its own brands - which include its signature Outback Steakhouse, Carrabba's Italian Grills and Bonefish Grills restaurants.

Weather, costs affect Wendy's stock price

DUBLIN, Ohio - Wendy's International Inc.'s stock tumbled 6 percent Wednesday, the day after the company reduced its 2004 profit forecast citing higher beef costs and fallout from the hurricanes.

The company also cited "short-term challenges" at its Baja Fresh Mexican Grill chain in a statement Tuesday.

The company now expects yearly earnings to be $2.25 to $2.30 per share. It had earlier predicted a full-year profit of $2.32 to $2.37.

Cincinnati software firm signs marketer

Mycom Group Inc., a Cincinnati software developer, said U.S. Wireless Online Inc., a Louisville-based wireless broadband provider, has agreed to market Mycom's e-mail and virus-filtering firewall service to its customers. U.S. Wireless Online has about 15,000 users through 300 customers in Kentucky, Indiana, Ohio and Georgia. No financial details were disclosed.

Adrienne Vittadini opens in Kenwood

Adrienne Vittadini, an upscale manufacturer and retailer of women's apparel and accessories, has opened its first store in Greater Cincinnati in Kenwood Towne Centre's new outdoor "streetscape" addition. The store opened this month.

TechSolve president honored by council

The International Economic Development Council has named Gary N. Conley, president of TechSolve, the Bond Hill manufacturing assistance organization, an honorary life member. The designation recognizes Conley's contribution to economic development and the communities he has served.

Conley, president of TechSolve since 1995, is a former president of the Los Angeles County economic development corporation and former economic development director for the city of Cleveland.

Wire/staff reports




BUSINESS HEADLINES
Keep on trucking
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Group critical of tax breaks
New CEO hired as revivalist
CBS fined record $550,000 for Jackson's Super flash
Enzyte ads challenged
Peale: Marge Schott's share of Reds sold
Local business summary
Dobbs speaks downtown against offshoring
'Serious' problems reported in Fannie Mae accounting
Business digest
Manufacturing conference may return to N.Ky.
Business People
Software maker to pay back $225M
Top wholesale baker files for bankruptcy
Court limits malpractice coverage



 

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