Keeping Posted

By Christopher Carey, Babette Morgan, Ap, Fred Faust | St Louis Post-Dispatch (MO), January 3, 1994 | Go to article overview

Keeping Posted


Christopher Carey, Babette Morgan, Ap, Fred Faust, St Louis Post-Dispatch (MO)


EMERSON ELECTRIC

New Products Pay Big Dividends

Investing in new products is paying big dividends for Emerson Electric Co.

The Ferguson-based company noted in its annual report recently that products introduced in the last five years accounted for $2 billion, or 24 percent, of its revenue in fiscal 1993.

Emerson spent $272 million on engineering and development in the fiscal year, up 11 percent from last year and 59 percent from five years ago.

The figure for fiscal 1993 translates to $3 for every $100 of sales.

Emerson had record revenue of $8.17 billion and record earnings of $708.1 million in the 12 months that ended Sept. 30. Christopher Carey

*****

SHOPPING

Survey Points To Most Crowded Day

Crowd-haters, take note as you plan for next year.

The biggest mobs in search of holiday gifts hit shopping centers this season on the Saturday before Christmas, according to TeleCheck Services Inc., a check-acceptance company based in Houston.

The dollar volume of checks cleared by TeleCheck that day was 29 percent ahead of the spending on the second-busiest day - the Friday after Thanksgiving, the company said.

Christmas Eve was a close third, the company said. Babette Morgan

*****

RIVERBOAT CASINOS

Gary Names Four Finalists

GARY, Ind. - Mayor Thomas Barnes released a list last week of the four finalists to operate a riverboat gambling venture on Lake Michigan at Gary.

The finalists, which all submitted proposals of more than $100 million in development for the city, included developer Donald Trump and his Trump Hotels and Casino Resorts Inc. …

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