Modesto company adds distribution
A company that specializes in printing and labeling will add West Coast distribution services to its Modesto operation. Standard Register, based in Dayton, Ohio, provides manufacturing customers with printing of labels, safety decals, signage and technical literature. "With a growing customer base on the West Coast, we wanted a facility to meet their needs," said Bob Sadowski, a company spokesman. Standard Register has 3,500 employees around the country. It employs nine people in Modesto at its Finch Road location, Sadowski said, but no employees will be added at this time. "If business picks up and it deems more employees or space, we will address that need to better serve customers," Sadowski said.
Bear payout better
Wall Street extended its big advance Monday as investors applauded a new agreement that will give Bear Stearns Cos. shareholders five times the payout that was set in a JPMorgan Chase & Co. buyout deal a week ago. The Dow Jones industrial average jumped nearly 190 points. JPMorgan Chase & Co.'s higher offer for Bear Stearns on Monday gave the investment bank control of nearly 40 percent of its ailing rival, blunting the threat that angry shareholders could scuttle the deal. The $2.4 billion lifeline to rescue the investment house stands a strong chance of success, assuaging investors unhappy with a $2 per share offer by raising it to $10 apiece.
Home sales rise
Sales of existing homes increased unexpectedly in February after six months of decline, but private economists said it was too soon to say the prolonged slide in housing is coming to an end. The National Association of Realtors said sales of existing homes rose 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It marked the first sales increase since July. But even with the gain, sales were 23.8 percent below where they were a year ago. Prices continued to slide. The median sales price for single-family homes and condominiums dropped to $195,900, a fall of 8.2 percent from a year ago, the biggest slide in the current housing slump.
Filing for an extension of tax filing deadline can be good planning by a small business, not an act of desperation, says Small Talk columnist Joyce M. Rosenberg.