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Business Today
By wire services
Published May 13, 2005
PUBLIX TO LAUNCH NATURAL FOODS STORE: Publix Super Markets Inc. next year will unveil its own version of a natural foods store called GreenWise. The Lakeland grocer, which added GreenWise departments to 752 of the chain's more than 850 stores a few years ago, is experimenting to counter the incursion of such supermarket chains as Wild Oats Natural Marketplace, Fresh Market and Whole Foods Markets into Florida. The Publix GreenWise will cater to shoppers who prefer selections dominated by organics, wellness products, so-called "good-for-you foods" and gourmet items. St. Petersburg developer Sembler Co. is building a lifestyle shopping center in Palm Beach Gardens that will house the first of two experimental GreenWise stores. Another will be in a renovated Publix in Boca Raton.
E-TRADE MAKES OFFER FOR AMERITRADE: Only a few hours after online brokerage Ameritrade Holding Corp. affirmed it was not for sale, rival E-Trade Financial Corp. disclosed it had made an unsuccessful bid for its rival. It was not immediately clear how much E-Trade's offer was worth.
TWO SCRUSHY CHARGES DISMISSED: The judge in Richard Scrushy's federal fraud trial threw out two charges against the HealthSouth Corp. founder Thursday but ruled jurors must consider three dozen other counts when deliberations start next week. Closing arguments are set for Monday, and jurors are expected to get the case the next day.
MORGAN STANLEY DISSIDENTS WANT SPINOFF: A group of former Morgan Stanley executives and dissident shareholders wants to spin off the Wall Street firm's investment banking business - long the pride of Morgan Stanley - to "regain its stature and reputation," the group said Thursday. The proposal would essentially reverse Dean Witter & Co.'s 1997 takeover of Morgan Stanley.
FORD CEO TO FORGO PAY: Ford Motor Co. chairman and chief executive Bill Ford said Thursday he will forgo all compensation until the company's automotive business is sustaining profitability. Ford's 2004 compensation package was worth about $22-million. Also Thursday, Moody's Investors Service downgraded Ford's credit rating to its lowest investment-grade level.
SPARSE CROWD FOR GOOGLE MEETING: Fewer than 200 people attended Google Inc.'s first annual meeting as a public company Thursday.
[Last modified May 13, 2005, 01:05:00]
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