Honda will stop selling its Civic sedans in Japan because sales are lagging compared with smaller models, the Japanese automaker said Tuesday. Production in Japan of the gasoline-engine Civic for local sales ended in August, and will end in December for Civic hybrids, although manufacturing of export models will continue, the company said. Get the full story »
Sara Lee not craving U.S. coffee deals
Sara Lee Corp. will not rush to make acquisitions in the U.S. coffee market, even as it revamps its business to focus on coffee and meat, its interim chief executive said.
Speculation about deals in the U.S. coffee business has circulated since earlier this month when Starbucks Corp said it wanted to end its distribution deal with Kraft Foods Inc, which has sold bagged Starbucks coffee at supermarkets for the past 12 years. Get the full story »
Oscar Mayer employees seek pay for equipment time
Employees at the Oscar Mayer meat processing plant in Davenport, Iowa filed a class action lawsuit against Kraft Foods Inc. seeking compensation for time they spend putting on and taking off their safety equipment. Get the full story »
Nov. 16, 2010 at 5:30 a.m.
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Filed under: The day ahead in business
Reports: Producer Price Index for October, 7:30 a.m.; International money flows data for September, 8 a.m.; Industrial production for October, 8:15 a.m.; NAHB housing market index for November, noon.
Hearings: Senate Banking, Housing and Urban Affairs Committee hearing on problems in the mortgage-servicing industry; Senate Homeland Security and Governmental Affairs Committee hearing on air cargo security.
Major earnings: Abercrombie & Fitch Co., Home Depot Inc., Saks Inc., Wal-Mart Stores Inc.
Lifeway Foods says net income down in 3Q
Lifeway Foods Inc. reported Monday that its net income fell in the third quarter as the food maker’s costs rose. Get the full story »
Discount retailer Loehmann’s files for bankruptcy
U.S. discount retailer Loehmann’s is filing for bankruptcy after its Dubai government-linked owner failed to reach a debt-extension deal with creditors.
Amazon hurt by rivals’ free shipping, deals
Amazon.com shares tumbled as much as 4 percent Monday on concerns that offers of free shipping by Wal-Mart Stores Inc and other retailers could challenge the online company’s results. Get the full story »
Buffett sells Carmax, Home Depot stakes
Warren Buffett’s Berkshire Hathaway no longer held stakes in used car retailer Carmax, home improvement retailer Home Depot or waste manager Republic Services as of September 30, according to a filing with securities regulators on Monday. Get the full story »
Legg Mason sells rest of Sears Holdings stake
Legg Mason Capital Management Inc. sold its remaining position in retailer Sears Holdings Corp. during the third quarter, according to a Monday filing with the Securities and Exchange Commission, ending the ownership of erstwhile Sears believer Bill Miller. Get the full story »
Orbitz names new Chief Technology Officer
Orbitz Worldwide Inc. on Monday said that it has named Roger Liew as senior vice president and chief technology officer. Get the full story »
Discover late payments at lowest level of 2010
Write-offs of uncollected Discover Card balances and late payments both fell in October to their lowest levels of the year. Get the full story »
Ricketts: No Plan B if state won’t back Wrigley bonds
A proposed rendering of the renovations at Wrigley. (Handout)
By Alejandra Cancino and Kathy Bergen | Chicago Cubs owner Tom Ricketts on Monday told the Tribune’s editorial board he doesn’t have a Plan B to come up with $200 million if the state rejects his proposal to borrow that money in a bond offering.
The money will be used to make extensive renovations at Wrigley Field, including repairs of the dilapidated concourses beneath the field, better amenities for players and more bathrooms, he said.
The Cubs’ proposal calls for the Illinois Sports Facilities Authority, which owns U.S. Cellular Field, to float $200 million to $300 million in bonds. The bonds would be paid back over 35 years through amusement taxes that Wrigley Field patrons pay. Get the full story »
GATX buys 2,500 freight cars for $150M
Transportation company GATX Corp. said Monday it bought a fleet of approximately 2,500 freight cars for $150 million. Get the full story »
GM shares expected to top $30 in IPO
Strong investor demand is expected to drive the pricing of General Motors’ initial public offering to $30 per share or higher, above the initially proposed range, two people familiar with the matter said on Monday.
GM earlier filed to sell shares for $26 to $29 each. Get the full story »
Nissan aims for 500K electric cars by 2013
The chief executive of Nissan Motor Co. says the automaker’s alliance with Renault could produce 500,000 electric vehicles a year globally by 2013. Get the full story »
