Southwest Missouri News

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Branson|ret||ret||tab|

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City, county to discuss center|ret||ret||tab|

The Branson Board of Aldermen and Taney County Commission will hold a special joint business meeting Oct. 19 to receive information for the selection of a proposed convention and exposition complex site. The meeting will be at 1 p.m. in the council chambers of Branson City Hall.|ret||ret||tab|

Individual landowners and development companies who have controlling interest in land, and who are willing to donate a minimum of 40 acres to the city and county for the construction of a convention center are invited to make a presentation before the aldermen and commissioners. To make a presentation, they must contact the Branson City Clerk's office by 4:30 p.m., Oct. 16 and provide the clerk with a detailed summary of their presentation including documentation showing ownership or controlling interest of the property to be donated to the city and county. Information and guidelines for presentations can be obtained from the city clerk's office by calling 337-8522.|ret||ret||tab|

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Carthage|ret||ret||tab|

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Company announces stock plan|ret||ret||tab|

Leggett & Platt Inc. has announced a four-point plan aimed at improving both operational performance and shareholder return.|ret||ret||tab|

As part of this plan, Leggett & Platt will repurchase as many as 10 million shares of its own stock, which is the equivalent of about 5 percent of outstanding shares.|ret||ret||tab|

In a prepared statement, Felix Wright, chief executive officer of Leggett & Platt, said the plan includes the following points.|ret||ret||tab|

problems in businesses performing below expectations.|ret||ret||tab|

close or exit businesses that can not be repaired.|ret||ret||tab|

Reduce acquisitions and capital spending in operational areas that are underperforming.|ret||ret||tab|

Use excess cash flow to repurchase shares of Leggett & Platt stock.|ret||ret||tab|

Strategically, Wright said, the company plans to return to its traditional level of acquisition expenditures, and the resulting top and bottom line growth, when operational performance improves.|ret||ret||tab|

These changes come just weeks after the Fortune 500 company said it expects third-quarter earnings to be just 34 cents to 37 cents per share. |ret||ret||tab|

That is up to 12.8 percent below the company's earnings of 39 cents per share for the third-quarter of last year and 15 percent below analysts' expectations.|ret||ret||tab|

Leggett & Platt officials have also said earnings for the year are expected to be flat. The company cited reduced demands for some of its aluminum products and commercial furnishings as part of the reason for the third-quarter decline.|ret||ret||tab|

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Joplin|ret||ret||tab|

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Local store aids YMCA|ret||ret||tab|

The manager of Joplin's JC Penney department store in the Northpark Mall has announced a partnership with the Joplin Family Y as well as a $4,000 contribution to support outreach, staffing and scholarships for after school programs for local children. |ret||ret||tab|

The funding is part of a multi-year, $30 million commitment the company is making nationwide. |ret||ret||tab|

JC Penney is providing financial support to 300 to 400 YMCA's around the country annually.|ret||ret||tab|

Neosho|ret||ret||tab|

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NLRB mediates union dispute|ret||ret||tab|

The National Labor Relations Board (NLRB) has ordered a second union election at the La-Z-Boy Midwest plant in Neosho.|ret||ret||tab|

An NLRB hearing was held in Neosho on Sept. 10-11, and both sides presented witnesses and evidence. |ret||ret||tab|

Hearing Officer Daniel L. Hubbel announced on Sept. 29 that there was enough evidence supplied by the Paper, Allied-Industrial, Chemical & Energy Workers International Union (PACE) to set aside an Aug. 10 election where 786 La-Z-Boy employees voted against union representation and 449 employees for it.|ret||ret||tab|

Hubbel recommended the withdrawal of three of the union's objections; overruled eight objections either in their entirety or partially; and sustained five objections.|ret||ret||tab|

The objections Hubbel sustained are:|ret||ret||tab|

Enforced plant rules more stringently against union supporters.|ret||ret||tab|

Threatened and coerced employees because of their union activities and the threat of dire consequences if the employees selected the union.|ret||ret||tab|

Created the impression of futility of selecting the union.|ret||ret||tab|

Threatened employees with plant closure, reduction of work or relocation if the union won the election.|ret||ret||tab|

Threatened employees with loss of benefits if the union were selected.[[In-content Ad]]