Employment market set for Saturday

Dozens of area businesses are lining up to share their stories with area residents Saturday at the Lawrence Arts Center.

Employment Marketplace 2005 will give business representatives a chance to educate the public about their operations, opportunities and other aspects of their organizations.

While the event is not a job fair, it will provide a good opportunity for job seekers to learn more about places they might be able to land work, said Cheryl White, program manager for the Lawrence Workforce Center.

The event is scheduled from 8 a.m. to 2 p.m. at the arts center, 940 N.H., and will include panel discussions about interviewing skills, dressing for success, employment law and other topics.

The event is sponsored by the Lawrence Chamber of Commerce, city of Lawrence, Lawrence Journal-World and KLWN.

Economy

Mortgage rates drop; fears of inflation ease

Rates on 30-year mortgages fell for a second straight week as bond investors expressed relief that the Federal Reserve has not grown overly concerned about inflation pressures.

In its weekly nationwide survey, mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 5.91 percent this week, down from 5.93 percent last week.

It was the second straight decline since rates at the end of March hit 6.04 percent, the highest they had been since last July.

Analysts attributed this week’s decline to the release of minutes of the Fed’s March 22 meeting.

“The recent release of the minutes of the FOMC meeting muted market chatter about inflation, allowing rates to slip a little further this week,” said Freddie Mac chief economist Frank Nothaft.

Transportation

Yellow Roadway, USF deal moves step closer

The U.S. Justice Department has ended the antitrust waiting period for Yellow Roadway Corp.’s proposed $1.37 billion acquisition of USF Corp., the transportation firms said Thursday.

Overland Park-based Yellow said in February that it planned to buy Chicago-based USF for $1.37 billion in stock and cash.

The companies said they would have special meetings May 23 for shareholders to vote on the deal. The proposed acquisition values each USF share at $45.

Shares of USF, which had lost 10 percent of their value in the last week after the company decreased its quarterly earnings estimates, jumped. USF shares were up 26 cents, or 0.59 percent, at $44.19 Thursday on the Nasdaq stock exchange.

Yellow shares, which have lost 13 percent of value in the last week, were down $2.40, or 4.56 percent, to $50.20 on the Nasdaq.