Tuesday, March 13, 2012

THE TICKER

AUTO SALES CRUISING: Automakers reported Wednesday a robust 14.8percent rise in early-April sales. Domestic car sales rose 6.3percent while sales of light trucks - pickups, minivans and sportutility vehicles - jumped 29.6 percent April 1-10. WAL-MART SLOWS: Wal-Mart Stores told financial analysts Wednesdaythat its phenomenal sales growth of the past few years would slowthis year, but would still come in at a healthy 7 percent to 8percent. NEW MIDWEST GOVERNORS: Midwest Stock Exchange members elected eightnew governors to its board and re-elected John L. Fletcher as vicechairman of the exchange. Fletcher's term expires in April, 1995.Chicago area board members elected were: John T. Devine, president ofAncel Inc.; Terence X. Hurley, director, Merrill Lynch, Pierce,Fenner & Smith; Christopher C. Melvin, president, Melvin Securities;and Ted B. Jackson, PaineWebber Inc. Outside directors elected wereRobert A. Helman, chairman, Mayer, Brown & Platt; and James J.O'Connor, chairman, Commonwealth Edison Co. CALL IT NOVUS: Dean Witter, Discover & Co. picked Novus Network asthe name for its credit service businesses that include DiscoverCard, SPS Transaction Services and Prime Option Services. BEST BUY HITS 17: Best Buy Co. said it will open its 17th area storetoday at Harlem-Irving Plaza in Norridge. FORECLOSURE FIGHT: A coalition of grassroots groups and FleetMortgage have started a program to reduce FHA foreclosures in Southand West Side neighborhoods. Fleet will open a customer serviceoffice in Chicago to assist delinquent borrowers and to correctservicing errors. Fleet also will hire two minority loan officers toincrease conventional lending in traditional "FHA neighborhoods" andto conduct homebuying seminars. Fleet also will provide $60,000 tothe grassroots groups to provide pre-purchasing and defaultcounseling. NEW KATY PRESIDENT: Katy Industries of Elgin said Wednesday thatJohn R. Prann Jr., 42, has been elected president and chief operatingofficer. He had been president of CRL Inc. EARNINGS: Illinois Central Corp. reported first-quarter earnings of $23.9million, or 56 cents a share, compared to $44.5 million, or $1.05 ashare a year earlier. Without accounting changes and charges in thetwo periods, after-tax earnings increased 14 percent to $24 million.Revenue for the quarter rose 2.8 percent to $142.7 million.

Boulevard Bancorp reported net income of $1.8 million, or 22 centsa share, in the first quarter, compared to a $612,000 loss in theyear-ago period when the company took a $1.8 million accountingchance charge. Without the 1992 charge, net income was up 50 percentin the recent quarter. The improvement was due largely to 36 percentdrop in loan-loss provisions. Non-performing assets also decreasedby nearly 20 percent. CORRECTION: A headline in Wednesday's editions incorrectlyidentified the new titles of Cornelis Boonstra at Sara Lee Corp. Hewill be president and chief operating officer.

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