The Kansas City Star from Kansas City, Missouri • 65

DOW JONES: 7972 SAP: 1238 NASDAQ: 1969 30-YEAR T-BOND YIELD: 544 SECTION BUSINESS best available COPY wwwkcstarcom THE KANSAS CITY STAR Saturday March 31 2001 Love affair with market cooling AMC closes eight theaters Doubts gauged on Social Security change Weighing in on the economy More than half of Americans say that if they had a thousand dollars to spend investing it in the stock market would be a bad idea Sales had lagged on lower-level site at Ward Parkway and will remain open AMC spokesman Rick King said Although the eight lower-level theaters and two of die upper-level ones opened only six years ago that was before AMC and others ringed the metropolitan area with If you had a thousand dollars to spend do you think investing it in the stock market would be a good idea or a bad idea? When it comes to dealing with the economy do you have a lot of confidence some confidence or no real confidence in President Bush? Good idea some of their Social Security contributions while 44 percent oppose it The poll was conducted by ICR of Media Pa The five-day poll was started a week ago after a two-week period in which the market lost more than 12 percent of its value and the Dow Jones industrial average suffered its biggest-ever weekly point decline In polls taken late last year people supported allowing investment of Social Security contributions by a 2-1 margin In the new survey men liked the idea better than women 57 per- Bad idea 55 A lot of confidence 28 lence Some confidence 38 By WILL LESTER The Axoclated Press WASHINGTON enthusiasm for President Bush's idea of investing Social Security contributions in the stock market has dropped sharply along with the market according to an Associated Press poll The poll which was taken after two of the roughest weeks the market has had in recent years shows that respondents are about evenly split on that idea now About half in tire poll 49 percent said they support a plan to give people the option of investing By JENNIFER MANN The Kantu City Star AMC Entertainment Inc has dosed the eight movie theaters on the lower level of Ward Parkway Center amid declining ticket sales and a need by the mall for more retail space The 14 theaters on the upper level continue to do a strong business Danielle Short leasing manager for Ward Parkway Center said the decision on die dosings was mutual works out for them and it works out for us as in the midst of a Short said She said the mall was converting See AMC C-8 know refuse No real confidence 29 know refused 5 The Associated Press See POLL C-2 Firm to increase its stake in Birch 2 Buyout giant to add up to $105 million to telecoms funding By SUZANNE KING The Kansas City Star The Converse Chuck Tkyior All Star has been worn by NBA stars Madonna skateboarders and grunge bands GRANT HALVERSON The Associated Press Kravis investment will come in two parts: $75 million which Birch received Friday and up to $30 million which the company will receive July 31 The additional investment will put a new face on board of directors RC Johnstone It who serves on boards of other Kohlberg Kravis companies joined the board Thurs- i Scott said he did not expect of a In Scott howr ich control Kohlberg Kravis has of the day-to-day management But he said ownership is going up significantly" Scott declined to say exactly how much the investment would boost LJHL itL "Wmr 1 A New York buyout firm will substantially increase its ownership stake in Kansas City-based Birch Telecom Inc with an additional investment of up to $105 million The investment from Kohlberg Kravis Roberts Co which Birch officials said reached them Friday will fully finance the current business plan President and Chief Executive David Scott said Birch also announced its 2000 financial results which showed mounting losses for the 4-year-old telephone carrier The new round of Kohlberg See BIRCH C-8 Lawsuit filed Stilt shopping Hearing the other Gloomy economic news has not discouraged consumers Their spending rose again last month after they shopped up a storm in January Incomes Meatpacking giant IBP Inc filed a lawsuit Friday in an attempt to force lyson Foods Co the worlds top poultry producer to complete its $32 billion purchase of the South Dakota By EMERY DALESIO The Anociated Press Penonai spending Here is a look at the nation's personal spending Seasonally adiusted $700 trillion company fDp The lawsuit Price per share came one day after Tyson re- Like nod of Hs rivals Convene is licensing production LUMBERTON NC The Converse Chuck Tayior All Star basketball shoe is a throwback an American standard that in 80 years has changed only in subtle ways The latest change is subtle in appearance alone: the end of the proclamation "Made in stamped on the heel The forces of globalization hit home when the factory where Converse Inc churned out 8 million to 10 million pairs a year sent its 475 workers home The plant officially closes today ending US production of the shoes that meant on-court performance for Bill Russell and a grunge fashion statement for Nirvana front man Kurt Cobain Plants in Mission Texas and Reynosa Mexico are also being closed by the 93-year-old company which was forced into bankruptcy protection in January The company will sell the rights to make and distribute Converse footwear in the United States joining Nike and other competitors by oper- went up too Given that goods and services bought by Americans account for two-thirds of all economic activity the fact that spending rose over the last two months was viewed by some analysts as an encour- 690 680 670 660 650 640 630 620 6J0 600 See SHOES C-2 MAMJ JASONDJF 2001 jected the deal and filed its 26 own lawsuit to 24 end the merg- 22 er 20 IBP shares 18 fell 28 percent 16 on Friday oi exit led SounBtoombNn to speculation that Smithfield Foods Inc would revive its bid for IBP sending Smithfield shares down 14 percent IBP fell $639 to $1640 and Smithfield fell $535 to $3250 Tyson rose $197 to $1347 tried something and they feel good no reason to wear anything Corky Fulton aging sign that the economy had not slipped into recession Consumer spending increased by 03 percent in February the Commerce Department reported Friday Incomes which include wages interest and government benefits increased by 04 percent in February after a revised 05 percent gain in January The personal savings rate savings as a percentage of after-tax income stayed at a negative 13 percent in February I Developer Robert Graham has landed the first tenant for his office park on the north end of the West Bottoms C-2 When North Carolina plant shuts today US production of Chuck Tsylors ends Gaming group goes on offense in fight over college sports betting By RICKALM The Kansai City Star JERRY HEAITER Internet betting on NCAA tournament games this year exceeded $400 million according to estimates of the experts at Igam-ingnewscom a St Louis-based gambling news wire Nevada's 150 legal betting parlors will handle around $60 million on the games said Vic Salerno president of Leroy's Race and Sports Book one of the state's largest vertising from legally questionable Internet sports books At the Gaming Association's direction representatives of National Media of Alexandria Va called each newspaper's advertising department seeking price quotes on behalf of a purported Internet gambling site ctient only are these schools promoting illegal gambling they are profiting from said association President Frank Fahrenkopf Jr "Illegal sports gambling will con tinue to be a problem in colleges and universities until tire NCAA and Jerry Heaster will return Monday its member schools focus their attention on stopping illegal sports gambling where it starts on the NCAA spokeswoman Jane Jankowski didn't argue the findings frustrating for us that student newspapers carry this type of she said Friday it illuminates what we've been saying gambling sends a message that (sports betting) is a cool and acceptable thing to The NCAA backs a measure before Congress that would outlaw wagering on collegiate sporting events at Nevada casinos the only place such bets are legal in the United States The gaming industry says the bill would do nothing to stop illegal bookies widespread Internet betting and sports gambling by minors Die industry backs a competing measure that calls for a national study of sports betting while requiring schools to develop tougher policies on enforcement and better student education efforts art the perils of gambling The American Gaming Association put on a full-court press this week in its dispute with the National Collegiate Athletic Association over a proposed federal ban on col lege sports betting at Nevada casinos The Gaming Association did a stealth survey of campus newspapers at all 65 schools that qualified a team for this NCAA men's basketball tournament and it found that all 65 would accept ad 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