Insurance department surveying small firms

Small businesses across the state this week are receiving surveys that policy-makers say could help them find ways to make health insurance affordable in Kansas.

The surveys, which are going to about 1,800 employers, are the result of a federally grant-funded partnership between the Kansas Insurance Department and Kansas University Medical Center. The purpose is to gather information about the challenges business owners face in providing health benefits to employees.

“Uninsured Americans live sicker and die younger than those who have insurance and that is unacceptable in a nation as great as ours,” said Kansas Insurance Commissioner Sandy Praeger. “If we do nothing, the problem will only get worse.”

According to the department, more than 150,000 working Kansans do not have health care coverage.

Economy

Factories report drop in April durable orders

Orders to factories for big-ticket goods fell sharply in April after posting a strong gain in the previous month, reflecting the sometimes bumpy recovery navigated by the nation’s manufacturers.

The Commerce Department reported Wednesday that orders for “durables” — costly manufactured goods expected to last at least three years — dropped by 2.9 percent last month, marking the biggest decline since September 2002.

But April’s slackening in demand for big-ticket goods came after sizable gains in February and March, where orders went up by 3.9 percent and a strong 5.7 percent, respectively.

The decline was led by a 4.7 percent drop in demand for transportation equipment, including cars and airplanes. Factories saw demand for those products increase by 4.1 percent in March.

State

Annual business reports can be filed electronically

Businesses can now file their annual reports online, the Kansas secretary of state’s office says.

The new service is available at the state’s official Web site, www. accesskansas.org. Previously, businesses were able to complete the annual report online but had to print out the document and mail in the hard copy with payment.

The new service allows businesses to complete the entire process online, including payment with a major credit card. About 90,000 business entities are required to file annual reports with the office.

Acquisition

Analyst says Wells Fargo getting bargain in deal

Banking giant Wells Fargo & Co. snapped up the scandal-ridden mutual fund company Strong Financial on Wednesday, just days after Strong and its founder settled allegations of improper trading.

Wells Fargo, based in San Francisco, will acquire a total of $34 billion in assets under Strong Financial’s management.

The terms of the deal were not disclosed, but industry analysts estimated Wells will end up paying between $400 million and $700 million by the time the deal is completed in seven to 10 months — a bargain, given that Strong Financial’s assets probably would have fetched more than $1 billion a year ago, said Richard Bove, Hoefer & Arnett analyst .