The Hays Daily News from Hays, Kansas on June 27, 2006 · Page 7
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The Hays Daily News from Hays, Kansas · Page 7

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Hays, Kansas
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Tuesday, June 27, 2006
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Page 7
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TUESDAY, JUNE 27,2006 THE HAYS DAILY NEWS A7 Johnson a Johnson to buy Pfizer CHARLIE RIEDEL / Associated Press Rescue personnel gather In front of a collapsed building housing an Elks Lodge on Monday In downtown Clinton, Mo. Rescuers were looking for nine people reported stranded In the collapse. Building collapses during Elks Club meeting; 1 dead CLINTON, Mo. (AP) — Rescuers saved nine people trapped in the rubble of a three-story building that partially collapsed during an Elks Club dinner, but the club's leader was found dead early this morning, about 12 hours after the roof fell in, officials said, Tony Komer, the 32-year-old "exalted ruler" of the Clinton ElKs Lodge, had been on the top floor preparing to give a speech when the century-old brick building began to collapse Monday night. Clinton Police Lt. Sonny Lynch said early this morning that crews were trying to recover Komer's body but part of the building would have to be taken down before searchers could remove him. The nine survivors were trapped for several hours as rescuers tried to shore up the brick building to prevent further collapse. The first was slowly removed shortly after midnight, and the last was carried out about 5:30 a.m. Officials said most injuries were consistent with being stuck in the debris, such as cuts and bruises, a crushed wrist and a broken leg. About 50 people had been on the second floor for an initiation dinner when the roof suddenly tipped onto the third floor, which then collapse onto the diners below around 7:30 p.m. Monday, officials said. "I was standing there and literally the ceiling fell and everything fell into a hole," said Lee Pierce, the Elks Lodge manager who had just finished cooking for the gathering when the building began crumbling. "There wasn't anything to think about. It was just, get out." Most managed to escape with minor injuries, but 10 people were trapped as the floor below them began to give way Komer had gone to the third floor to memorize a lengthy paragraph that he was to recite at the initiation, Lynch said. Kansas City Mo., Fire Chief Smokey Dyer, who was coordinating rescue efforts, said rescuers were never able to establish contact with the victim after the collapse. By LINDA A. JOHNSON ASSOCIATED PRESS TRENTON, N. J. — Health care products company Johnson & Johnson said Monday it was buying drug-maker Pfizer Inc.'s consumer health care unit for $16.6 billion in a nearly all-cash deal. The purchase would give New Brunswick, N. J.-based Johnson & Johnson products including Listerine, Nicorette, Visine, Sudafed and Neosporin to add to its own stable of name brands like Band-Aids, Tylenol and Neutrogena. Pfizer had been reviewing its strategic options for the division, which reported sales of $3.9 billion in 2005, since February so it could focus on its prescription drug business. Johnson & Johnson Chairman and Chief Executive William C. Weldon said such strong products rarely come on the market. "These are extraordinary assets that will bring sustainable long-term value to the shareholders of Johnson & Johnson," Weldon said. "We felt these were very important to us and we should make sure we bring them in." Weldon said the deal helps the company stick to its strategy of keeping a balanced portfolio among its three segments. Prescription drugs and the medical devices and diagnostics business now account for 40 percent and 35 percent of revenues, respectively, and consumer products only 25 percent. Pfizer said it would buy back up to $17 billion in shares, including up to $7 billion this year and $10 billion in 2007. The plan reflects an increase to $18 billion from $5 billion in the company's stock repurchase authority. Weldon said the purchase won't affect J&J's $5 billion share repurchase plan, announced earlier this year and already more than 40 percent complete. He said that with approximately $17 billion in cash'on hand, J&J will cover the purchase mainly with cash, plus some "complementary short- term borrowing." Johnson & Johnson, which had $50.5 billion in 2005 revenues, will also acquire the U.S. over-the-counter switch rights to the prescription nonsedating antihistamine Zyrtec upon patent expiration. The deal, which was approved by the boards of both companies and is subject to regulatory and shareholder approval, is expected to close by year-end and boost Johnson & Johnson's earnings in 2009. J&J executives said that by 2009, they would see $500 million to $600 million in savings from eliminating overlap. The deal comes after J&J lost a high-profile bidding war to rival Boston Scientific, which acquired heart-device maker Guidant Corp. for $27 billion in April. Analysts on a morning conference call expressed surprise that J&J didn't seek another acquisition for a medical device or pharmaceutical business. Weldon responded that not only would the new consumer products drive growth, but the consumer business was the lowest risk of the company's segments. New York-based Pfizer said it expected about $13.5 billion in proceeds, after taxes, from the Pfizer Consumer Healthcare sale. Due to the stock buyback, the company said it didn't expect the sale to lower 2007 earnings, but it expects a profit boost in 2008. Briefs President claims he can ignore some laws he signs WASHINGTON (AP) — A bill becomes the rule of the land when Congress passes it and the president signs it into law, right? Not necessarily, according to the White House. A law is not binding when a president Issues a separate statement saying he reserves the right to revise, interpret or disregard it on national security and constitutional grounds. That's the argument a Bush administration official is expected to make today before the Senate Judiciary Committee, chaired by Arlen Specter, R-Pa., who has demanded a hearing on a practice he considers an example of the administration's abuse of power. "It's a challenge to the plain language of the Constitution," Specter said in an interview with The Associated Press. Russell Livestock Commission Company, Inc.: Russell S. Highway 281 Kansas Livestock Sale Every Thursday at 11:30 a.m. Jay Sweeney 785-483-6265 or 785-483-9473 (cell) Earl Ward 786-628-2241 or 785-623-3136 (cell) Greg Carey 785-483-1455 Call Daytime or Evenings: Barn 785-483-2961 or 483-4800 Please Call Anytime! Your Business Is Always Appreciatedl No Sale This Week Due To Harvest. Sales Will Resume On Regular Schedule Next Week. k Lots of Consignments for Our Next Sale. Call Us With Any Questions. If you do not receive your paper by 5:00 p.m. in Hays, 6:00 p.m. outside of Hays, Monday through Friday or by 7:00 a.m. on Sunday ... or if a problem persists and you are unable to work it out with your carrier, we would like to know about it. Please call our Circulation Department at... 785-628-1081 or Toll Free 800-657-601 7 8:00 A.M. TO 7:00 P.M. MONDAY THROUGH FRIDAY 7:00 A.M. TO 10:00 A.M. SUNDAY We will do our best to get the problem resolved as quickly as possible. naws Doug & Stacy Schulte; Brent, Breanna, Lauren & Barbara Augustine vacationing in Waikiki Beach, Hawaii To join the fun and enter our contest, readers need to have a photograph taken of themselves holding a copy of The Hays Daily News in front of an identifiable landmark while on vacation. Photos will be published in the newspaper. Each participant will be entered into a drawing to win a one-year subscription to The Hays Daily News. The winner will be announced in the August 28, 2006 edition. To participate, mail your photo along with a description of the people pictured and your vacation destination, your name, address and phone number, and a self-addressed stamped envelope (for photo return) to: P.O. Box 857, Hays, KS 67601 Attn: Mary Karst Photos also may be e-mailed to advertising@dailynews.net Due to the July 4th must impose early advertisjn^de^i ' Publication Day Sunday, July 2 , REGUIAR& DISMAY ADV. Monday,July 3 II a.m.Thursday.Ju^l^ Tuesday, July 4 10 a.m. Friday, June'30^ Wednesday, July 5 Noon, Friday,J«je 30, / Thursday,July 6 11:00 a.rr^bn^a^ly 3/ J CIASMFIED XV Publication Day Tuesday, July 4 Wednesday, July 5 Call Your Hays Da) To Reserv 628- We enjoy our traditions in Kansas. Proudly celebrating those moments that bind the generations. And nurturing our optimism for the future. For You. Blue Cross and Blue Shield of Kansas proudly otters you our long tradition of reliable service. And we'll continue meeting your changing health coverage needs with innovative products. Now and for the future - when you need us, we're there. 785.291,4503 • 800,874,1825 BlueCross BlueShield « of Kansas* We're There. For Few, 0 www.bcbfk9.com "Ail liiJejienUi'nt UCOJIMHI gt'Uli! Blue Cross and Bluv SliloM Assuuulion ® fti'(jl»H)fi'J tuiui of Uiu Blue Cross iwii Blue SUU'Ul AwwtaUun

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