South Florida Sun Sentinel from Fort Lauderdale, Florida on October 7, 2003 · 49
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South Florida Sun Sentinel from Fort Lauderdale, Florida · 49

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Fort Lauderdale, Florida
Issue Date:
Tuesday, October 7, 2003
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49
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Sun-SentineUcota Get The Latest Breaking News .Business Market Watch 2 KATHY KR1STOF STOCK LISTINGS 4 MUTUAL FUNDS t nws SOUTHFLORIDASUN-SENTINEL I TUESDAY OCTOBER 7. 2003 SECTIOND A DOW: 9,594.98 (22.67) A S&P 500: 1,03435 (4.50) A NASDAQ: 1,89346 (12X9) A RUSSELL 2000: 516.72 (444) V 10-YR NOTE: 4.17 (-0.03) Business Briefing Cirde K to get Canadian owner ConocoPhillipi is selling its convenience store chain Circle K Corp. to Canada's Alimentation Couch a-Tard Inc. for about $821 million, advancing the big oil company's plan to shed retail marketing sites and cutting its work force by 31 percent. The agreement disclosed Monday would create a retailer with more than 4,500 owned or franchised stores in the United States and Canada. Alimentation is also assuming $9. 1 million in debt. Circle K has 1 ,663 retail marketing outlets in 16 states and the Circle K brand, as well as more than 350 franchised and licensed stores. Private equity group to buy FTD FTD Inc., which sells flowers and other gifts via the Internet and telephone, agreed to be bought by Green Equity Investors for about $420 million. Green Equity Investors is an affiliate of Los Angeles-based private investment company Leonard Green & Partners, a private equity fund. FTD Chief Executive Robert Norton will continue in his position after the transaction is completed, FTD said. FTD's network consists of a combined 20,000 florists in the United States and Canada. Graham exec to enter hall of fame Carol Graham Wyllie, an executive vice president of The Graham Cos., of Miami, will be inducted Thursday into the business hall of fame by The Florida Council on Economic Education. The council is a nonprofit education group that provides statewide programs to teachers for students in prekindergarten through 12th grade. The council cited Wyllie "for her outstanding business achievements and overall commitments to the South Florida community." Wyllie is a member of local groups including The Beacon Council, Miami-Dade County's economic development organization, and the Greater Miami Chamber of Commerce. Heko's CopperCom takeover done CopperCom, a Boca Raton-based telecom switch maker said its acquisition by Chicago-based The Helco Companies has been completed. Heico, which specializes in acquiring financially distressed companies, announced it would acquire a majority interest in CopperCom last May. CopperCom filed for Chapter 1 1 in June. Montreal-Palm Beach flight to start A Canadian airline wUlstai4ffring once-a- - -week nonstop service betweenMontreal and Palm Beach International Airport starting Nov. 1. Canjet Airlines flights will arrive in West Palm Beach each Saturday at 1 :45 p.m. and leave for Montreal at 2:35 p.m., airport marketing director Dick Haller said. The airline Web site, www.canjet.com, is offering flights between the cities for as little as $99 each way. Outlook soft for business travel Business travel spending will remain the same or decline at 73 percent of North American companies, suggesting major U.S. airlines must deepen cost cuts, the Business Travel Coalition said. The survey found 55 percent of 1 10 corporations expect spending to be unchanged next year, and 18 percent plan travel cost cuts, Chairman Kevin Mitchell said. The spending will fall 7 percent to $ 1 .05 billion this year from $1.13 billion in 2002, and two-thirds expect to buy more tickets from low-fare carriers such as JetBlue Airways Corp. next year, the survey found. Carrier to shift production unit Carrier Corp. is eliminating all 1,200 manufacturing jobs at its suburban Syracuse, N.Y., container refrigeration and compressor plant, saying it needs to shift production closer to its key markets in Asia. Carrier said it will maintain 1,600 jobs at the plant, where it has warehouse, administrative, engineering and research facilities. Mesa acquisition looks eastward Mesa Air Group Inc., which operates regional flights under US Airways Express and other brands, Monday made an unsolicited offer to buy Virginia-based Atlantic Coast Airlines Holdings Inc. for stock valued at $5 12 million. The deal would create a company with a fleet of nearly 300 aircraft. Phoenix-based Mesa flies under several names, including US Airways Express, United Express and Midwest Express. T-biSIs tumble in weekly auction Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $ 1 6 billion in three-month bills at a discount rate of 0.920 percent, down from 0.935 percent last week. An additional $ 16 billion was sold in six-month bills at a rate of 0.995 percent, down from 1.005 percent. The three-month rate was the lowest since July 21, when the bills sold for 0.895 percent. The six-month rate was the lowest since July 28, when the rate was 0.980 percent. The new discount rates understate the actual return to investors 0.939 percent for three-month bills with a $ 1 0,000 bill selling for $9,976.70 and 1 .0 1 7 percent for a six-month bill selling for $9,949.70. - STAFF REPORTS, BLOOMBERG NEWS AND WIRE REPORTS T BILLS 6-month biH: 1.017 3-month biH: 0.939 In percent 1.75 1.50 .so .. , J5 a i Aiq.1l Oft SOURCE: AP Marketing SPORTS LICENSEES GO INTO EXTRA INNING y - )j -J : ( lit i ..... '.v v r v r y ifcaMaafcttbA ON DECK: Sergio Castillo and Teresa Bernal, workers at Dynasty Apparel Industries in Opa-locka, check and pack T-shirts heralding the Marlins' postseason success. PhotosMichael Francis McElroy Marlins success makes busy October even busier for ' makers of licensed sports apparel. ' SCREEN PLAY: Dynasty Apparel Industries is working 24 hours a day producing T-shirts honoring the Marlins and other MLB playoff teams. By Sarah Talalay STAFF WRITER Almost from the moment Ivan "Pudge" Rodriguez recorded the thrilling final out of the Division Series that propelled the Marlins to the National League Championship Series, workers at Dynasty Apparal Industries in Opa-locka began feverishly printing postseason T-shirts that read "Go Fish!" and "Hunt for October." Farther southwest in Hialeah, the workers . at 5th ft Ocaan Clothing are fashioning tank tops and baby doll T-shirts with logos, rhinestones and embroidery just for young girls and women who want something more feminine than a small man's T-shirt to show off their pride in the Marlins. Both local companies are also pumping out postseason gear for all the League Championship Series teams, including the Chicago Cubs and New York Yankees. A busy October is nothing new in the world of sports license apparel, but with their stunning playoff success, suddenly, the Marlins have become what's known in the business as "hot market ",i "We've had a crew working since the Division Series game ended. It's crazy, it's fun. ... It's good to see all the fans get behind the Marlins," said Ignacio Mendez, Dynasty Apparel president. "This is what you hope for, when you're a licensee. Not only is your favorite team in the playoffs, but your business benefits as well." Dynasty, which is currently printing shirts " 24 hours a day, planned to ship out thousands of shirts on Monday, including more than 10,000 to Kmart, which has 31 South Florida APPAREL CONTINUES ON 100 Corporate Motorola plans to spin off semiconductor business Chip-making unit is firm's biggest loser BYDONBABWIN THE ASSOCIATED PRESS Chicago Motorola Inc. plans to spin off its semiconductor operations, its biggest money loser, as a separate, publicly traded company a change of course analysts said was long overdue. "We believe that by creating two independent companies we will be able to better unlock the value of Motorola's existing businesses," Christopher Galvin, the outgoing chairman and chief executive of the Schaumburg, Ill.-based company, announced Monday. The telecommunications equipment maker is consider ing an initial public offering of a portion of its semiconductor business followed by a distribution of remaining shares to shareholders, sub ject to Motorola board approval and other con ditions, Galvin said. Motorola shares surged on the news, climbing $1.22, or 9.9 percent, to close at $ 13.50 on the New York Stock Exchange. Analysts have long been calling for the unit which fell off the list of top 10 world chipmakers this year to be sold or spun off. Motorola's worldwide semiconductor sales were $4.8 billion in 2002, about 18 percent of the company's $26.7 billion total sales. "I have long questioned why MOTOROLA CONTINUES ON 90 Bankruptcy Radio Unica set to sell 15 stations By Joseph Mann BUSINESS WRITER Miami-based Radio Unica Communications Corp. has reached an agreement to sell its 15 Spanish-language radio stations to New York-based Multicultural Radio Broadcasting Inc., a privately held firm, for about $150 million in cash. The transaction, subject to approval by a bankruptcy court, is part of a "prepackaged bankruptcy," the company said. Radio Unica has already reached an agreement with the company's major creditors, said Steven Dawson, the company's chief financial officer, and the firm plans to file for Chapter 1 1 bankruptcy in New York City at the end of the month. The company expects the deal to be completed by the second quarter of next year, and will continue normal operations through the closing of the transaction. STATIONS CONTINUES ON 100 WORKPLACE : Human resources programs ! honored by Maroaiieroux " POUNDS BUSINESS WRITER J From adopting a televi- ' sion gimmick to reward I employees to developjhg an online svstem to rnmmi mi. cate benefit information, human-resource professionals are tryinglnew methods to do their joBs. cesi practices lnyolv-ing human resources at 13 ' South Florida companies are the focus of the third an- 1 nual awards by the Human Resource Association of Broward County. The association honors nominees and announces three winning programs on Wednesday evening at the Westin Fort Lauderdale hoteL The human resources programs were judged on criteria including creativity, organizational impact, re-' turn on investment, transferability and measurabili-ty. RESOURCES CONTINUES ON 20

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