Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Tire Maker Hiring 2,000 Striker Replacements

Tire maker Bridgestone-Firestone on Wednesday began hiring permanent replacements for more than 2,000 workers on strike in Iowa, Illinois, Indiana and Oklahoma. The company, based in Nashville, Tenn., is a subsidiary of Japan's Bridgestone Corp., the world's largest tire maker.

The United Rubber Workers struck July 12 when the company said it wanted plants to run continuously, on 12-hour shifts; employees to begin contributing to health insurance; and reduced wages paid to new hires.

The union said Bridgestone-Firestone hired the replacements without consulting with the union first. "While we continue to work through the federal mediation process, we will also seek redress through the National Labor Relations Board and the courts if necessary," the URW said. Compiled From News Services

***** Construction Spending Jumps

Led by the biggest increase in private residential and commercial outlays in eight months, construction spending grew in November for the fourth straight month despite higher interest rates.

The Commerce Department said Wednesday that total spending rose 0.7 percent to $522.7 billion at a seasonally adjusted annual rate. A 1.9 percent advance in private outlays offset a 2.7 percent decline in government expenditures.

It was the largest gain in private spending since a 2.7 percent advance last March, and the biggest drop in public construction since a 6.1 percent plunge last January. Associated Press

***** KC Firm Rejects Buyout Offer

J.C. Nichols Co. directors have rejected a buyout offer from a New York investment banking firm. The company that owns the Country Club Plaza shopping district in Kansas City and other real estate holdings voted not to negotiate a proposal from Allen & Co. for about $50 million.

Nichols characterized the Allen offer as hostile and "nothing but an attempt to get control of this company for a grossly inadequate amount of money." An Allen & Co. official called the board's decision disappointing and said Nichols officials had not seriously discussed the offer. AP

***** Merrell Dow To Buy Tucson Firm

Kansas City-based Marion Merrell Dow Inc. plans to buy Selectide Corp., a privately held pharmaceutical research firm based in Tucson, Ariz. …

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