Friday, August 22, 2003

Tristate Summary

Erpenbeck case in court today

The government's bank fraud investigation of the Erpenbeck Co. and Peoples Bank of Northern Kentucky will spill back into open court this morning in a hearing before U.S. District Judge Susan Dlott.

A spokesman for the U.S. Attorney's office said Thursday that the hearing will pertain to the Erpenbeck case, but he would not offer details. In the two previous hearings on the case, Dlott took guilty pleas from former company president Bill Erpenbeck and its main closing agent, Michelle Marksberry.

P&G suit against Amway dismissed

A federal court in Utah has dismissed a claim by Procter & Gamble Co. against several Amway Corp. distributors, Amway said Thursday.

Cincinnati-based P&G had claimed that Amway and its distributors spread rumors about a link between P&G and Satanism.

A P&G spokeswoman said the company disagreed with the ruling and was still considering its legal options. There still is a case pending against several distributors in Texas, she said.

Multi-Color split, dividend possible

A stock split and/or a dividend is a possibility at fast-growing Multi-Color Corp., the Cincinnati packaging provider.

CEO Francis Gerace told shareholders at the company's annual meeting Thursday that the board of directors continues to evaluate the pros and cons of splitting the stock, which has appreciated 54 percent since last year, or paying a dividend.

The company's sales and earnings have grown at double-digit rates, but Gerace said the company doesn't want to do anything to weaken shareholder value long-term.

'Self-healing' grid being developed
Economic signals turn green
Now, it's rising rates pushing home sales
Goodyear, union say OK on deal
Kodak tries to keep up
Home-themed center lands Sofa Express
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