You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • 19 deaths tied to ignitions
    DETROIT – The death toll tied to faulty ignition switches in General Motors small cars has risen to 19, according to a compensation expert hired by the company.
  • Breadstick policy seen as generous
    Olive Garden is defending its practice of giving customers as many breadsticks as they want, saying the policy conveys “Italian generosity.
  • Industrial output slips in August
    WASHINGTON – U.S. manufacturing output declined in August for the first time in seven months, reflecting a sharp fall in production at auto plants that was due mainly to seasonal adjustment problems.
Advertisement

Kroger big on cheese

The big cheese now resides at Kroger Marketplace.

Officials announced Thursday a Murray’s Cheese Shop has opened inside the Kroger store, 601 E. Dupont Road. The New York specialty cheese-maker will open 67 shops in Kroger locations in Indiana and Illinois this year.

Each store will create up to eight jobs. The shops will carry 175 various cheeses, including Greek feta, weinkase lagrein and vendeen bichonne.

Cincinnati-based Kroger Co. and Murray’s first partnered in 2008.

NIBE receives OK to buy WaterFurnace

NIBE Industrier AB has received antitrust approval to acquire WaterFurnace Renewable Energy Inc., officials announced Thursday.

The deal, announced in June, still requires approval of the WaterFurnace shareholders, who are scheduled to meet Monday. NIBE has offered about $350 million cash for all outstanding WaterFurnace shares, a 27 percent premium at the time the bargain was struck.

WaterFurnace will continue to operate as a separate entity led by the company’s current executives. The company makes geothermal heat pumps for residential, commercial and industrial customers.

The technology relies on an underground grid of pipes. The temperature below ground remains fairly constant year-round, allowing loops buried on homeowners’ properties to capture and circulate cooler air in summer months and warmer air in winter.

Berkshire Hathaway stock tops $200,000

Naysayers have been calling shares of Warren Buffett’s company overpriced for decades. But Berkshire Hathaway Class A stock, which first topped $1,000 in 1983, on Thursday surpassed $200,000.

“Everybody has now been proven wrong on it,” said Andy Kilpatrick, who wrote “Of Permanent Value: The Story of Warren Buffett.”

Berkshire has long had the most expensive U.S. stock. Buffett never split Berkshire’s A shares, although he did create more affordable Class B shares in 1996 that now sell for nearly $135.

Berkshire Hathaway has come a long way since Buffett’s investment partnership started buying shares for $7 and $8 apiece in 1962. At that point, Berkshire was a New England textile company. On Thursday, shares reached an all-time high of $202,454.99.

Buffett, who is turning 84 later this month, has amassed a fortune worth more than $65 billion from his Berkshire shares.

Chiquita says no to $610 million buyout

Charlotte, North Carolina-based Chiquita Brands International rejected a $610 million buyout offer from two Brazilian firms on Thursday, committing instead to its upcoming merger with an Irish produce company.

Chiquita’s board of directors voted unanimously to turn down an unsolicited $13-per-share offer to acquire Chiquita from Safra Group, a Brazilian bank, and Cutrale, an orange juice supplier.

The deal would have superseded Chiquita’s deal with Dublin-based Fyffes.

Chiquita called the offer of $13 a share inadequate. Chiquita will hold a meeting Sept. 17 for its shareholders to vote on the Fyffes deal.

Advertisement