Westar Energy sheds stake in Protection One

Topeka-based Westar Energy announced Tuesday that it has completed its deal to sell Protection One Inc. to a New York-based acquisition firm.

Affiliates of Quadrangle Group LLC took control of the company Tuesday after the Kansas Corporation Commission approved the sale of the monitored security firm on Friday.

Westar, the state’s largest electric utility, owned 87 percent of the company. Westar received $122.2 million in cash for its stake in the company and eliminated $305 million in Protection One debt.

Westar sold the financially struggling company as part of a strategy to focus exclusively on its electric utility operations.

Investigation

Stewart wins ruling on voice mail issue

A federal judge on Tuesday further limited the government’s effort to prove Martha Stewart and her stockbroker conspired to lie about Stewart’s sale of ImClone Systems stock.

The judge blocked prosecutors from putting into evidence a voice mail that broker Peter Bacanovic left for Stewart on Feb. 4, 2002, the day she was first interviewed by the government.

“The fact that he tried to contact her really isn’t evidence of anything, other than that they talked to each other sometimes,” U.S. District Judge Miriam Goldman Cedarbaum said.

The ruling was the latest in a string of setbacks for the government as it tries to present a case that Stewart and Bacanovic worked together to hatch a cover story for why Stewart sold 3,928 shares of ImClone Systems stock on Dec. 27, 2001.

United Way

Award to recognize businesses for charity

Area businesses have until Friday to apply for the second annual Spirit of Caring Award. The award, sponsored by the United Way of Douglas County and the Lawrence Chamber of Commerce, recognizes local businesses for their charitable giving and promotion of volunteerism.

Four winners will be announced at a ceremony on April 23. Applications are available at the United Way of Douglas County, 2518 Ridge Court, and the Lawrence Chamber of Commerce, 734 Vt.

Applications also are available online at www.lawrencechamber.com.