Pitney Bowes to keep management services business

Tag : pitney bowes

Pitney Bowes Inc. — The mail and document-managing companywill keep its management services business, which provides mailroomand copy center services to corporations, federal agencies and lawfirms. Pitney Bowes said last November that it would cut 4 percentof its work force as it moves to fully digital equipment. Shareswere $33.79, down 10 cents.
General Motors Corp. -- The automaker has hired 450 temporaryworkers and recalled workers laid off this year for the Moraineplant it has slated for closure. The more than 770 workers whoaccepted a buyout or took retirement were working their last dayFriday at the southwest Ohio plant, which makes sport utilityvehicles and employs 2,400 hourly workers. The 450 temporaryworkers also hired include workers facing layoffs at the nearbyDMAX plant, which is a GM-Isuzu joint venture that makes dieselengines; former temporary workers at this plant; and newly hiredtemporary workers. GM recently announced plans to close the Moraineplant in 2010, or sooner if needed. Shares were $11.55, up 12cents.
Collective Brands Inc. -- The operator of the Payless ShoeSourceand Stride-Rite shoe store chains agreed to pay footwear rivalK-Swiss $30 million to settle litigation claiming trademarkinfringement. Collective Brands said it was not admitting anywrongdoing, but that it will agree to a permanent injunctionpromising to "refrain from making, advertising, promoting orselling footwear confusingly similar to that sold by K-Swiss."Collective Brands said it will take a $30 million charge in thesecond quarter but said it expected some of the settlement to beeventually covered through insurance. Shares were $12.04, up 28cents.
Delphi Corp. -- The auto parts supplier is seeking buyers for itsvehicle exhaust equipment business as it reorganizes under Chapter11 bankruptcy protection. Delphi said it would still provide fullengine management systems. Delphi says it will retain globalinvestment bank Lincoln International to explore sale opportunitiespending bankruptcy court approval.
Sony Ericsson -- The Swedish mobile phone maker warned that it willjust break even in the second quarter as worsening marketconditions cut into sales. Shares fell nearly 10 percent to 60kornor ($10.02) in Sweden.


Last modified: June 28, 2008 6:54am