Fight over fishing plans brewing in European Union

Spain, with Europe’s largest fishing fleet, vowed Wednesday to fight European Union plans to protect dwindling stocks by cutting the number of boats allowed to fish.

Under the EU proposals outlined Tuesday, some national fleets would be reduced by up to 60 percent in four years. Spain countered that it could go no further than earlier reductions, saying it has halved its fishing fleet since the country’s 1986 entry into the union.

Spanish officials said they had received the backing of France and Portugal and would use their country’s veto powers in EU councils as well as European courts to thwart the plan.

The EU plan which also envisions improved oversight and reduced fishing subsidies could cut the EU’s total fleet by 8,600, or 8.6 percent of the total 100,000 vessels.

Kansas University

Business school wins grant

The Kansas University School of Business has received a $1.4 million grant from the U.S. Department of Education to continue for another four years a program that focuses on international business.

The program, called the Center for International Business Education and Research, provides opportunities for students and executives to receive education in international project management, international business ethics, and cross cultural management.

KU is one of 30 universities selected to receive the funding. KU started its CIBER program in 1999.

Utility

Aquila faces new lawsuit

A fourth shareholder has filed a lawsuit against Aquila Inc., claiming it cheated shareholders when it bought back 20 percent of its energy trading arm in January.

The securities class action, filed by shareholder David A. Kelly Friday in federal court in Kansas City, Mo., is identical to the previous three.

All four lawsuits charge that Aquila, then known as UtiliCorp United Inc., was able to buy the shares at a low price because the company failed to appoint an independent body to represent public shareholders.

The company has yet to file a formal response to the lawsuits, but spokesman Ethan Hirsh has said Aquila expected them to be dismissed.

Retail

Home Depot founder puzzled by firm’s sliding stock price

In his last board meeting with The Home Depot Inc., retiring co-founder Bernie Marcus told shareholders Wednesday he’s puzzled about the company’s struggling stock price, but urged support for his hand-picked successor.

Marcus, who owns nearly 60 million Home Depot shares, advised shareholders to “stay the course” and sought to assure them that new chairman and chief executive Robert L. Nardelli is right for the job.

Marcus he stayed on the home-improvement retailer’s board an extra year to guide Nardelli, a retailing novice who joined Home Depot in December 2000 after serving as president and chief executive of GE Power Systems.

Home Depot’s stock closed down 59 cents Wednesday at $40.59. For the year it has lost about 20 percent of its value.

The company has plans to build a store in Lawrence near 31st and Iowa streets.