Business memo 2/25

Child care business topic at Thursday program

Developing your child care business is the topic at a program Thursday that is sponsored by Child Care Resource and Referral in partnership with the Small Business Development Center at Southeast Missouri State University and the Ewing Marion Kauffman Foundation.

Participants will receive an overview of Child Care Resource and Referral and its services as well as complete an application form and learn about a child care class to be offered in Cape Girardeau this spring.

A free registration and information session is planned for 6:30 p.m. Thursday in the Family Resource Center at 1202 S. Sprigg. To register for Feb. 28 orientation, call 290-5595.

Fortune names SBC 'most admired' telecom

Fortune magazine has named SBC Communications Inc., parent company of SBC Southwestern Bell-Missouri, America's "most admired" telecommunications company. This is the sixth time SBC has topped the industry rankings. In the past decade, no other telecommunications company has made it to the top of the industry ranking more times than SBC.

SBC finished first in every performance category, receiving its highest individual score (7.79) in the category of financial soundness and an overall composite score of 7.30, more than one percentage point better than the nearest competitor. SBC joins other corporate leaders such as General Electric, Johnson & Johnson and Southwest Airlines as national leaders in their respective industries.

Consumer inflation rises mildly in January

Higher prices for gasoline, medical care and some food items contributed to a mild rise in consumer inflation in January. But prices for clothing, cars, lodging and computers all fell, providing shoppers with some bargains.

The Consumer Price Index, a closely watched gauge of inflation, rose 0.2 percent last month after dipping 0.1 percent in December, the Labor Department reported last week.

Excluding energy and food prices, which can swing widely from month to month, the "core" rate of inflation increased 0.2 percent in January, up slightly from a 0.1 percent advance the month before.

Even with the modest advances in both overall and core inflation in January, many economists believe consumer prices will remain steady in the months ahead.

Chrysler reports fourth-quarter loss

Due to a withering economic climate in the United States and a bruising incentive war among automakers, the Chrysler Group of DaimlerChrysler AG last week reported a loss for the fourth quarter of 2001.

But thanks to successful cost-cutting measures and a number of new products in the pipeline, company executives said they are sticking to their goal of breaking even by year's end.

The Auburn Hills, Mich.-based arm of the German-American automaker reported a loss of 359 million euros ($320 million) in the October-December period. That was an improvement over its performance a year earlier when it lost 1.4 billion euros in the quarter.

Revenue at the division was 17 billion euros ($15.2 billion) in fourth quarter 2001, compared to 16.1 billion euros a year earlier.

States looking at raising cigarette taxes

Squeezed by the recession, nearly half the country's states are looking at raising cigarette taxes to generate revenue and discourage people from smoking, too.

Twenty-two states are considering proposals by governors or legislators to boost cigarette taxes.

In Oregon, for example, Gov. John Kitzhaber is advocating a 50-cent-a-pack increase, despite protests from the tobacco industry that it would balance the state budget on the backs of smokers.

Kitzhaber spokesman Jon Coney said the governor -- a former emergency room physician -- views the tax increase as a "two-fer" for Oregon.

Bankers foundation to award scholarships

The Missouri Bankers Foundation will award seven $500 Willis W. Alexander Scholarships this school year. One scholarship will be awarded to a high school senior in each of the seven regions of the Missouri Bankers Association.

MBF scholarships are designed to promote and encourage college-level study for young people who are interested in pursuing a career in the field of banking. Scholarship applicants must be high school seniors who have exhibited academic achievement and/or economic need, and they must be planning to enroll in a full-time course of study leading to a degree with a major field related to banking.

Applications must be postmarked by March 15. Applications are available online at www.mobankers.com.

-- From staff, wire reports