Energizer Holdings hops into shaving business

Battery and flashlight maker Energizer Holdings Inc. is getting into the shaving business. The company announced an agreement Tuesday to buy the Schick-Wilkinson Sword unit from Pfizer Inc. for $930 million.

Schick-Wilkinson Sword ranks second to Gillette Co. in production and sale of razors and other shaving products. The deal will put Energizer and Gillette, which makes Duracell batteries, in direct competition for two key consumer products.

Energizer is widely known for its advertising campaign featuring an Energizer bunny like the one above pictured at the company’s headquarters in St. Louis.

Alliance: Airlines to ignore government restrictions

Delta, Northwest and Continental airlines said Tuesday they will go ahead with a marketing alliance and ignore government restrictions aimed at preventing them from dominating air travel in certain markets.

The “code-sharing agreement” among the third-, fourth- and fifth-largest airlines would enable each to sell tickets for all three airlines. They also could offer reciprocal benefits such as frequent flier miles.

The Justice and Transportation departments approved the plan Friday, but transportation officials did so with certain stringent requirements. The airlines reviewed the government’s plan and issued a statement Tuesday.

“Some conditions are unacceptable, and we will not agree to them,” they said in a statement.

Analysts have said they expect the dispute to end up in court.

Banking: CapFed increases quarterly dividend

Topeka-based Capitol Federal Financial said Tuesday it was increasing its dividend 4.76 percent, to 22 cents from 21 cents.

The financial holding company said the dividend is payable Feb. 21 to stockholders of record Feb. 7.

Shares of Capitol Federal, which plans to announce its first-quarter earnings Jan. 22, was up 27 cents Tuesday to close at $31.62 on the Nasdaq National Market.

Capitol Federal Financial is the holding company for Capitol Federal Savings Bank, which operates four branch offices in Lawrence.

Utility: Aquila salaries criticized

Third Avenue Management LLC, a New York investment adviser, said on Tuesday it has become increasingly concerned with Kansas City, Mo.-based Aquila Inc.’s performance and that the utility’s management has underperformed while being “grossly overcompensated.”

Third Avenue, which owns about 6.1 percent of Aquila, said it objected to about $21 million in salary paid to the utility company’s top executive for the three years ending on Dec. 31, 2001.