Wednesday, June 4, 2003

Tristate summary



From staff reports

Company to handle properties for P&G

Procter & Gamble Co. has reached a $700 million, five-year deal for Jones Lang LaSalle Inc. to manage its facilities around the globe, P&G said Tuesday. The deal includes 13.8 million square feet in 60 countries, and 600 P&G employees will become Jones Lang LaSalle workers. The deal covers property management and strategic facilities planning.

It's the second in what will be a group of outsourcing contracts from P&G's Global Business Services unit. Earlier this year, P&G reached a $3 billion, 10-year deal with a unit of Hewlett-Packard Co. for information-technology services. That deal affected 1,850 P&G employees.

Last year, P&G tried to lump many of its back-office functions into one outsourcing contract, but pulled back from a potential deal with Electronic Data Systems Corp. at the last minute. It then said it would break that into several smaller contracts.

Local men appointed to Taft's tech board

Two Cincinnati men were named Tuesday to Gov. Taft's Third Frontier Advisory Board, one as chairman of the 16-person group.

The board will advise the Third Frontier Commission on how to spend money in the program to expand Ohio's base of technology.

Taft named Mark A. Collar as chairman of the group. Collar is president of Global Pharmaceuticals at Procter & Gamble. He also serves on the board of BioStart, a biotechnology incubator at the University of Cincinnati, and belongs to the Ohio Business Roundtable's biosciences task force.

James M. Anderson is the other Cincinnatian appointed to the board. Anderson is president and chief executive of Cincinnati Children's Hospital Medical Center. He is also chairman of CincyTechUSA's Leadership Council and is a member of the Greater Cincinnati Chamber of Commerce's executive committee.



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Shares of IBM fall at news of SEC probe
Mortgage rates go even farther into basement
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