Friday, Jun. 27, 2008

The Buzz on Business

PANEL HEARS HONEYBEE CONCERNS: A record 36 percent of U.S. commercial honeybee colonies have been lost to mysterious causes this year and the worse may be yet to come, experts told a congressional panel Thursday. The year's honeybee colony losses are about twice what's usually seen after a typical winter, scientists warn. Despite ambitious new research efforts, the causes remain a mystery. "We need results," pleaded California beekeeper Steve Godlin. "We need a unified effort by all." The escalating campaign against what's generically called colony collapse disorder includes more state, federal and private funding for research. Publicity efforts are getting louder -- a costumed Mr. Bee was seen wandering around Capitol Hill this week -- and lawmakers are becoming mobilized. On Thursday, Congress heard from farmers with crops in trouble, from beekeepers struggling with lost hives, from frustrated researchers and even from corporate leaders worried about their own economic futures. Colony collapse disorder is characterized by a sudden decline in a honeybee colony's population and the inexplicable absence of dead bees. First reported in 2006, the disorder was the chief cause for the 31 percent decline in bee colonies last year. "What seemed to be an aberration has unfortunately turned into a full-fledged crisis," said Rep. Dennis Cardoza, D-Merced., chairman of the House horticulture and organic agriculture subcommittee, which convened the hearing. The hearing is the second of its kind as part of a concerted strategy, elements of which have already borne fruit. Notably, the five-year farm bill recently approved over President Bush's veto authorizes but does not guarantee $20 million in new funding for bee-related studies.

VISA CUTS GAS RETAILERS A BREAK: Visa Inc. said it will reduce the transaction fees it charges gasoline retailers, who have complained that their profits are being eroded by them. The fees are a fixed percentage of every transaction, usually just under 2 percent. So each time gasoline prices go up, so does the dollar amount of the fees, eating away at profit margins. With gas above $4 a gallon, that pushes fees toward 10 cents a gallon, close to the typical gas station's markup of 11 cents or 12 cents per gallon. The credit card company said its changes will lower fees by 14 percent on a $60 sale, and by 43 percent on a $120 gasoline sale.

CONAGRA EARNINGS GROW: ConAgra Foods Inc., said Thursday its fourth-quarter earnings grew almost 5 percent, helped by contributions from the commodity trading unit that the company just sold. The Omaha-based maker of Healthy Choice, Hunts and other consumer brands earned $201 million, or 41 cents per share during the quarter that ended May 25. That figure includes 23 cents per share of net income from discontinued operations, including the commodity trading unit. ConAgra's quarterly earnings are up from the $192 million, or 39 cents per share, it reported a year ago.

NEWS AND NOTES: Discover posted a healthier quarterly profit Thursday than Wall Street expected. The credit card company benefited from March to May not from issuing credit, but rather from milking its third-party payments business -- which processes ATM and debit transactions and other banks' cards -- and selling its British card business. .... Yahoo Inc. is setting up a new chain of command amid the turmoil triggered by the embattled Internet icon's snub of Microsoft Corp.'s $47.5 billion takeover bid. Under the new pecking order, Yahoo executive vice presidents Hilary Schneider and Ash Patel are being given expanded responsibilities over the Sunnyvale-based company's products and sales teams. ... The owner of The Philadelphia Inquirer and Daily News is exploring the possibility of sharing editorial functions of the two newspapers' newsrooms, a union official said Thursday. ... The Portland (Maine) Press Herald and Maine Sunday Telegram are eliminating 31 jobs and closing their four news bureaus in response to a continuing decline in advertising revenues, their publisher said Thursday.

BEE NEWS SERVICES

Figuratively Speaking

73: Percentage of fathers who would sacrifice an exciting job for more time with their children, according to a survey conducted by Spike TV's "State of Men 2008" in partnership with national research firm Penn, Schoen & Berland

73: Percentage of fathers today who are at least "somewhat willing" to be stay-at-home dads, a 13-point increase from 2004

80: Percentage of men who indicated that what defines a man most is being a good husband and father

JOHN MacINTYRE,

UNIVERSAL PRESS SYNDICATE