Dessert shop opens

A former broadcasting executive has converted the former Hardee’s at 23rd and Iowa streets into a “retro style” dessert shop.

Duke Frye, a former owner of Kansas City sports radio station WHB 810, opened Sheridan’s Frozen Custard at 2030 W. 23rd St. last month. The store Frye said is fashioned after the 1950s-style dessert shops in that it only serves customers through a drive-thru or walk-up window.

The store, which is the eighth for the Kansas City, Mo.-based franchise, serves only dessert items, except for hot dogs. Frye, pictured above, said he was drawn to the Lawrence area because of the availability of the location at 23rd and Iowa streets.

The store, which has 36 part-time employees is open from 11 a.m. to 11 p.m. Monday through Thursday, 11 a.m. to midnight on Friday and Saturday, and 2 p.m. to 11 p.m. on Sundays.

Leadership: WorldCom CEO Sidgmore to step down amid woes

WorldCom Inc. Chief Executive John Sidgmore agreed Tuesday to step aside from his top post amid growing concern among creditors that the company needed to bring in fresh management to deal with its financial and accounting troubles.

Sidgmore will continue to lead the company while it searches for a successor, the company said. Once a replacement is chosen, he will resume his role as vice chairman, a position he previously held since 1996 when WorldCom bought the parent company of Internet provider UUNet Technologies.

Finance: Sales of renamed bonds up after Sept. 11 attacks

The government is reporting a 36 percent boost in sales of an ordinary savings bond that was transformed into a war bond after Sept. 11. Whether that can be attributed to patriotism remains unclear.

The Treasury Department, under pressure from Congress after the terror attacks, brought back war bonds, a popular way during World War II for Americans to help the war effort. Lawmakers who urged the change said they were responding to constituents who wanted to help pay for the war against terror.

As in the past, war bonds investments were not earmarked for a specific purpose but went into the government’s general fund. The Treasury Department reported $1.57 billion in sales of “Patriot Bonds” between December, when the Series EE savings bonds were renamed, and July. That is $419 million more than were sold during the corresponding period a year earlier.

Wall Street: Heinz earnings drop

Food giant H.J. Heinz Co. said its first-quarter earnings fell 11 percent as it sought to shore up ketchup and frozen food sales and prepares to shed StarKist tuna, 9-Lives pet food and other brands.

The company earned $177.8 million, or 50 cents a share, in the three months ending July 31 compared with $200.5 million, or 57 cents a share, in the same period a year ago.

Heinz in June announced it was selling its pet food division, which includes a plant in Lawrence, to Del Monte Foods.