Subway closes store in downtown Lawrence

The country’s largest restaurant chain has given up on downtown Lawrence.

Subway on Friday closed its downtown store, 1008 Mass. Officials with Subway’s regional office in Lawrence did not return phone calls seeking comment.

The store opened in late 2003 and company officials said at the time that they were counting on the store’s quick service to be a selling point. Company officials also said they were counting on a major redevelopment in the 900 block of New Hampshire Street to draw more people to the area. That redevelopment hasn’t been completed.

The closing isn’t the first time that a major fast-food chain has pulled out of downtown. About five years ago, McDonald’s, the second largest U.S. chain, closed its Massachusetts Street restaurant.

Forum

KU alumnus to present lecture on global issues

The former leader of one of the world’s largest international accounting firms will speak at Kansas University.

KU alumnus Larry Horner, the former chief executive of KPMG Peat Marwick, will deliver a lecture on “The Global Landscape: Politics, Finance and the Environment” at 3:30 p.m. Friday at the Spencer Art Museum.

Horner has been involved in business activities in China and serves on a variety of corporate boards, including ConocoPhillips.

Horner is speaking as part of the KU School of Business’ International Business Executive in Residence Program.

Banking

K.C. philanthropist steps down as UMB chairman

R. Crosby Kemper Jr., one of Kansas City’s best-known businessmen and philanthropists, is retiring at the end of this month as senior chairman of UMB Financial Corp.

Kemper, 77, had said he would retire by the end of the year, and the company announced his plans Monday. He has not been involved in day-to-day operations since stepping aside in January 2001 as chairman and chief executive.

He also will leave his seat on the banking company’s board of directors but is expected to continue to serve as a consultant.

Kemper’s son J. Mariner Kemper will continue to serve as the bank’s chief executive and chairman. He said his father’s departure was a sign of confidence that the bank was on the right track for growing its business.

Mariner Kemper said the bank was exploring acquisition opportunities in Kansas City, St. Louis and Denver.