Fleming finalizes sale

Fleming Cos. announced Monday that it had completed the sale of its Topeka grocery distribution center and that former Kansas University chancellor Archie Dykes has taken over as the company’s chief executive officer.

Fleming said its deal to sell the Topeka operations to Associated Wholesale Grocers of Kansas City was completed on Saturday. Associated Wholesale Grocers also bought distribution centers in Nashville, Tenn.; Memphis, Tenn.; Tulsa, Okla.; and Lincoln, Neb.

Dykes took over for Peter Willmott, who served as an interim CEO while the company sold assets as part of its bankruptcy. Dykes will remain as chairman of the company.

Fleming’s last remaining asset is its Core-Mark Int. convenience store distribution company. Fleming said it was examining offers to sell that business.

Real Estate

National home sales reach record level

Rising mortgage rates pushed buyers off the fence and into the housing market, sending sales of previously owned homes in July to a national record high.

The National Association of Realtors said Monday that sales of previously owned homes soared to a seasonally adjusted rate of 6.12 million in July.

The previous record was a rate of 5.94 million, set in December 2002 and matched in January. Last month’s record rate was a 5 percent increase over the June rate of 5.83 million.

Economists said that lookers turned into buyers over fears that rising mortgage rates would go even higher.

“When mortgage interest rates first began to rise from record lows, it appears some buyers jumped into the market to take advantage of good affordability conditions before interest rates moved even higher,” said David Lereah, chief economist for the National Association of Realtors.

Workplace

Companies score better on treatment of gays

More large U.S. companies are providing better working conditions for their gay and lesbian employees, according to a report released Monday by a gay rights advocacy group.

The Human Rights Campaign Foundation reported workplace improvements at a third of the companies rated in the group’s second annual survey of large corporations.

Companies were scored on seven factors, including if they offered health insurance coverage to employees’ same-sex partners and whether they had nondiscrimination policies covering sexual orientation and gender identity.

Airlines, banking and financial services, high tech and equipment manufacturers, and telecommunications businesses consistently scored above average, the group found.

Aviation

United posts smaller loss

United Airlines remained unprofitable last month but said it earned $35 million from operations as improving revenues helped keep its bankruptcy reorganization on track.

The world’s No. 2 carrier reported a net loss of $112 million in announcing results Monday for July, its eighth month in Chapter 11 bankruptcy. The company said its financial performance met the requirements of its bankruptcy lenders and that it’s on pace to meet them for August as well.

Under a strict timetable, its debtor-in-possession lenders require United to show a profit in bankruptcy by Oct. 31 or risk losing its financing.

“They’re still losing money, but they’re heading in the right direction,” said Philip Baggaley, airline analyst for Standard & Poor’s Corp.