From wire reports

Recovering Kmart still seeks management

NEW YORK - As Kmart Corp. emerged from bankruptcy Tuesday after almost 16 months of Chapter 11 protection from creditors, the discounter must still fill some key holes in its management, particularly chief merchandising officer.

The lack of a cohesive merchandising strategy has long been a problem at Kmart. The chief merchandising officer decides what the store is going to sell, giving it the signature that draws in shoppers and brings them back.

The Troy, Mich.-based discounter is also on the hunt for a new chief financial officer to replace Al Koch, chairman of Alix Partners, a turnaround management firm, who came on board in March 2002 to help with the reorganization.

As auto deals rise, Ford expands offer

DETROIT - Financing deals and cash rebates on new cars and trucks rose to record levels last month, and Ford Motor Co. became the latest automaker to sweeten its offers Tuesday.

Like its rival General Motors Corp. did last week, Ford has extended its offer of interest-free loans for up to five years on a variety of vehicles, including the Taurus, Explorer and some F-150 pickups.