Outlook: Lawrence hiring activity expected to be slow

Hiring activity will be slow in Lawrence during the first part of 2003 but not as slow as it was a year ago, according to a recently released survey.

The quarterly survey by Manpower Inc. projects 10 percent of Lawrence area firms will increase their work force levels between January and March, while 7 percent will reduce their employee totals, producing a net gain of 3 percent. The remaining 83 percent surveyed plan no changes.

That’s a downturn from three months ago when 17 percent anticipated work force additions, while 7 percent predicted reductions. But the results are an improvement from this time last year, when only 3 percent predicted hiring employees and 7 percent said they planned to make cuts.

Retail: Kmart to announce store closings in January

Kmart Corp. may have to close more stores as part of its restructuring under bankruptcy protection, but the number will be nowhere near the 500-plus stores that were rumored to be on the block, Kmart’s chief executive said Monday.

Kmart Chairman and CEO James B. Adamson called “erroneous” a recent report in the Atlanta Business Chronicle saying the discount retailer would close 567 stores.

“We haven’t determined how many stores, where they’re going to be located,” Adamson said. “We’re going to close as few stores as possible and we’re going to give stores a chance to get fixed.”

Adamson said a decision on store closings was expected in early January.

Kmart operates a store at 3106 Iowa, as well as a distribution center in northwest Lawrence.

Wichita: Boeing union urges approval of contract

The union representing The Boeing Co.’s engineers in Wichita recommended approval of the company’s “best and final” contract offer, saying Monday negotiators did well given the current economic environment.

The three-year proposal includes salary and pension increases and a 6 percent ratification bonus – similar to the contract proposal offered to Seattle engineers, except for some minor differences tailored to the Wichita operation.

Employees also are asked to share more of their health care benefit costs. The union’s 1,300 Wichita members will vote on the offer Dec. 4.

H&R Block: Deal to increase earnings

H&R Block Inc. said Monday it received about $142.5 million from securitizing future cash flow of mortgage assets from its Option One Mortgage Corp. unit that outperformed expectations.

The deal was expected to contribute 32 to 34 cents per share of additional income to the Kansas City, Mo.-based company’s fiscal third quarter.

Analysts were expecting 28 cents a share, according to Thomson First Call. The company earned 16 cents a share in the prior third quarter.

Coming Wednesday

A team of Kansas University researchers has received a patent on new technology that should help the Internet move at much faster speeds in the future.