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Archive for Thursday, May 29, 2003


May 29, 2003


U.S. factory orders fall

America's manufacturers saw demand for their products fall in April by the largest amount in seven months, a fresh blow to an industry that is a big drag on the plodding economy. Orders to U.S. factories for durable goods -- manufactured products such as cars and appliances expected to last at least three years -- dropped by 2.4 percent in April from the month before, when they rose 1.4 percent.

The Commerce Department's report Wednesday underscored the troubles facing battered manufacturers, which have suffered through 33 consecutive months of jobs losses .


CyDex Inc. nominated for state business honor

A company with Kansas University ties is among the finalists for one of the state's top business honors.

Overland Park-based CyDex Inc. is one of four Kansas companies in the running for the Governor's Exporter of the Year Award.

The pharmaceutical firm was created using research conducted at KU's Higuchi Biosciences Center. The award winner will be announced June 5.


Exxon rejects plans from environmentalists

Shareholders of Exxon Mobil Corp. supported company management and rejected environmentalist-backed resolutions on global warming and renewable energy on Wednesday.

Chairman and chief executive Lee R. Raymond defended the company's environmental record and said the market for renewable energy was very limited.

Raymond predicted that wind and solar power would account for less than 1 percent of world energy by 2020. Oil and gas, he said, will remain the dominant sources of energy.


Office supplies retailer predicting recovery

Office Depot Inc., sticking to its contention that its North American retail sales hit bottom in the first quarter, Wednesday predicted a gradual recovery.

The office-supplies retailer said it expected earnings before the effect of an accounting change will total 16 cents to 18 cents a share for the second quarter ending June 28.

The Delray Beach, Fla., company predicts same-store sales, or sales at stores open at least a year, will decline 3 percent to 4 percent in the second quarter. The company operates a store in Lawrence.

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