Bush proposes tariffs to help shrimp producers

The Bush administration Thursday proposed tariffs on shrimp imports from four of the largest shrimp-producing nations in Asia and South America, accusing them of hurting domestic producers by dumping the shellfish on the U.S. market at artificially low prices.

The proposed tariffs against Brazil, Ecuador, India and Thailand ranged from 4 percent to 68 percent — far less than what U.S. shrimpers and processors had asked for.

Opponents of tariffs say duties could drive up the price consumers pay for shrimp.

Above, Beth Adams portions out some shrimp Thursday at Who Dat’s Seafood Connection in Westwego, La.

Topeka

Payless, Parade to part

Payless ShoeSource Inc. said Thursday it would end its link with Parade shoe stores by year’s end.

Steven J. Douglass, the company’s chairman and chief executive, said the break with Parade would increase the value of Payless stock over the long term.

Douglass said the move would allow Topeka-based Payless to better focus on its core business of providing shoes at a low-cost to consumers.

Shares of Payless closed up 52 cents to $12.97 in trading Thursday on the New York Stock Exchange.

Wall Street

Earnings of area interest

Overland Park-based Waddell & Reed Financial Inc. reported earnings of 31 cents per share for the second quarter, up from 27 cents a year ago.

Cabela’s Inc. posted earnings of 3 cents per share, down from 6 cents per share.

Raytheon Co. reported a loss of 25 cents per share compared to profits of 24 cents per share a year earlier. The defense manufacturer blamed a $222 million settlement of a shareholder lawsuit for the drop in earnings.