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Saturday, October 16, 2004

Business digest


Club Clau to call it quits in January

The Enquirer

The hip nightspot Club Clau is pulling its red carpet after New Year's Eve, leaving Over-the-Rhine boosters anxious to fill the space.

During a news conference Friday, the owners did not blame crime or a lack of crowds in the Main Street area for the closing.

Co-owners Scott Sheridan and Ram Paladugu said the club, picked in May by Conde Nast magazine as one of the 30 hottest bars on the globe, wants to go out a winner.

--Mike Boyer

Chiquita finishes packaging deal

Chiquita Brands International Inc. has completed buying 486,111 common shares of Landec Corp. stock, Landec said Friday. The $3.5 million deal was part of a previously announced deal for California-based Landec to provide its packaging technology for Chiquita's bananas.

--Cliff Peale

Soft drinks to do math on calorie, carb counts

No more having to do the math to figure out exactly how many calories and carbs are in that 20-ounce bottle of soda. New nutritional information on labels of Coca-Cola, Pepsi and other popular soft drinks will soon break it down for you.

Coca-Cola Co.'s North America division and PepsiCo Inc.'s Pepsi-Cola division made separate announcements Friday that, starting next year, they will roll out new labels that will show nutritional information for the entire container as well as the traditional eight-ounce serving. The bottles, no matter how large, now only show that information for eight ounces.

Charges renew interest in insurance regulation

NEW YORK - Allegations that Marsh & McLennan Cos., the world's largest insurance broker, engaged in a broad price-fixing scheme again raises the question of whether insurers need to be regulated nationally, rather than on a state-by-state basis.

Industry observers and state regulators aren't convinced that a central regulator, similar to the Securities and Exchange Commission, is the way to go, even as a number of the nation's largest insurers have warmed to the idea of an optional federal charter.

Newport Steel agrees to terms with vendor

Wilder-based Newport Steel Corp., a unit of NS Group Inc., has agreed to buy most of its steel requirements next year from Nucor Corp., the Charlotte, N.C., mini-mill operator. Newport Steel said the purchases will be at a fixed base price, including a mid-year adjustment, plus a raw materials surcharge. Newport Steel supplies welded steel pipe for natural gas drilling.

China places $66M order for jet engines

Air China has placed a $66 million engine order with CFM International to power six additional Airbus A319 jets, more than doubling its fleet of the twin-engine jets. CFM is the joint venture of GE Transportation in Evendale and Snecma Moteurs of France. The deliveries to the largest commercial carrier in China start next year.

Blue Ash company wins meat association honor

The American Meat Institute named Planet Products Corp. Supplier of the Year for developing a sanitary frank loader based on guidelines developed by the institute, the nation's oldest and largest meat industry group. Companies using equipment from the Blue Ash company had "a remarkable reduction" in food-borne bacteria, said institute chairman Stewart Owens.

--Wire and staff reports




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