Gold Banc replaces CEO amid internal probe

The head of Kansas City, Mo.-based Gold Banc Corp. Inc. is being replaced after the company’s internal auditors discovered irregularities in his personal bank accounts.

The Board of Directors named Malcolm M. Aslin chief executive officer of Gold Banc and president and CEO of Gold Banc-Kansas, the company announced Friday. Aslin, who has been the president of Gold Banc since 1999, will replace Michael W. Gullion beginning Monday.

Gold Banc said Gullion was being replaced due to the ongoing investigation into “certain irregularities” in his bank accounts. The irregularities were discovered by Gold Banc’s internal auditors and its audit committee.

Economy: Inflation increases, confidence decreases

Severe winter weather and jitters about war took a further toll on the U.S. economy, sending wholesale energy prices soaring and triggering declines in both manufacturing output and consumer confidence.

The government reported Friday that wholesale prices jumped by 1 percent in February, led by a 7.4 percent surge in energy costs. Output at the nation’s manufacturing plants fell for the second month in three.

Consumer sentiment, buffeted by rising gasoline prices, job layoffs and fears of retaliatory terror attacks should the United States invade Iraq, dipped in March to 75.0 from a February reading of 79.9.

Lawrence: Development magazine honors school district

The Lawrence School District has received recognition from a national economic development magazine.

Expansion Management magazine awarded the district its gold ribbon award in its annual Education Quotient survey. About 17 percent of the 1,500 school districts surveyed across the country receive the gold ribbon, which is the survey’s top ranking.

The survey measures ACT scores, teacher salaries, and the education and income levels of the district’s adult population. Magazine officials say they conduct the survey because companies often consider the quality of a community’s education system when they are looking to expand or relocate.