Not every oil company is enjoying windfall profits in the era of expensive oil. Sunoco Inc., which refines oil it buys from producers, today reported a net loss of $59 million on sales of $12.8 billion for the first quarter of the year. Sunoco earned $175 million on sales of $9.3 billion in the first [...]
Kum & Go, operator of more than 430 convenience stores in 12 states, named Terry Montgomery its new vice president of business intelligence. In this newly created position, Montgomery’s main focuses will be developing the new Kum & Go Business Intelligence department and the expansion and growth of business intelligence function for the West Des [...]
Mars Inc., of McLean, Va., announced a merger agreement with Chicago-based Wm. Wrigley Jr. Company, a transaction that could ultimately be valued at $23 billion, the companies said. The agreement will make Wrigley, a $5.4 billion gum and confections company, a separate, stand-alone subsidiary of Mars. The agreement has been unanimously approved by both companies’ [...]
Truckers in Mississippi are stealing diesel by the hundreds of gallons, lawmakers in Florida are floating plans to offer commuters a gas-money refund and religious folks in California are resorting to prayer at the pump. Motorists nationwide are resorting to everything and anything to fight gas prices that continue to set record highs, with the [...]
Sheetz Inc. has opened a new unit in Davidson County in North Carolina just outside Winston-Salem, the company said. The opening is the 17th for Sheetz in North Carolina and brings the company’s overall store count to 348. Sheetz employees will hold a grand opening celebration and ribbon-cutting ceremony on May 8 at the store. [...]
BP has posted an eight-year high in profit while Royal Dutch Shell Plc had its biggest gain since 2005, Bloomberg news reported. Analysts said numbers posted by the oil giants were grand across the board, despite high crude prices. Crude oil reached $111.80 a barrel in March, and also touched an all-time high of $119.93 [...]
New York Congressman Peter King claims New York’s practice of not collecting taxes on Indian cigarette sales, despite have a law requiring it to do so, supports smugglers whose profits can support terrorists. King, a Long Island Republican, wants an investigation into what he calls a "very serious homeland security issue." A prominent Indian leader [...]
Merchants NY Cigar Bar, a go-to smoker’s paradise on New York’s Upper East Side for the past decade, has triumphed in a prolonged legal battled with the New York City Health Department, according to operators at the cigar bar. New York State Supreme Court Appellate Division unanimously upheld a lower court’s decision that the New [...]
Users of Gilbarco Veeder-Root’s Passport POS system will soon be able to remotely manage their sites from a central location as Gilbarco and RedPrarie Corp. are poised to release Passport Version 9, an integrated remote-management solution offering centralized control over configuration, fuel pricing, reporting and software maintenance. Additionally, Gilbarco and Allure Global Solutions Inc. are [...]
With combined profits of almost $72 billion in 2007, oil juggernauts Exxon Mobil Corp., Chevron Corp. and ConocoPhillips Inc. secured three of the top five spots on the Fortune 500 list, the magazine reported. ExxonMobil racked up $39.5 billion in profit last year, the largest-ever in U.S. history. That figure topped the previous record of [...]
With combined profits of almost $72 billion in 2007, oil juggernauts Exxon Mobil Corp., Chevron Corp. and ConocoPhillips Inc., secured three of the top five spots on the Fortune 500 list, the magazine reported. ExxonMobil racked up $39.5 billion in profit last year, the largest-ever in U.S. history. That figure topped the previous record of [...]
Just a week after a New York investor yanked its 7.5% share in The Pantry Inc., another investor stepped forward and raised its shares from just under 5% to 6.4%, the Triangle (N.C.) Business Journal reported. Oregon-based Stadium Capital Management LLC, a hedge fund investing in small-cap companies, now owns 1.42 million shares of the [...]
At the urging of his college-student grandson, retired Navy technical illustrator George Geisler Sr. of Camp Hill started putting pencil to paper. “I got on a roll and was having a lot of fun with it,” said Geisler, 81. By “it” he was referring to Rutter’s Farm Stores’ “Win Green Design Contest,” which challenged entrants [...]
Fresh & Easy and Rutter’s Farm Stores marked Earth Day with new initiatives, including the introduction of a reusable “bag for life” at Fresh & Easy and a recycling opportunity 0for consumers who visit Rutter’s Farm Stores, the companies said. Fresh & Easy, the U.S. arm of UK-based grocery retailer Tesco, distributed reusable shopping bags [...]
Quick Chek, Whitehouse, N.J. chain of more than 100 stores throughout New Jersey and New York, announced today it is launching a new brand positioning complete with logo, private-label product packaging and enhanced Web site. With its new logo in the shape of a bright, lime green-colored letter “Q” with tail shaped like a dark [...]