Business

Cathy's Diner planned for downtown

Cathy Hetterscheidt is back in the former 54 Diner space at 206 E. Kellogg where she and Judi Young briefly had Lilli Mae's.

The two had a falling out and Hetterscheidt left to start her own place in the former Takhoma Burger space at 816 S. Broadway, but it didn't work out.

"It was just a lot more than I bargained for there," Hetterscheidt said of readying the building.

She said Young invited her back to Lilli Mae's to help out. Soon, though, Young backed out of the business and Hetterscheidt took over.

The new Cathy's Diner sign should be up soon.

Hetterscheidt's plans are the same as they were for the Broadway space — a Coca-Cola theme and a little something to attract people of all ages.

She'll also begin offering a salad bar July 18.

Hetterscheidt said she had hoped Young would stay.

"I was actually going to try to keep her on as a cook," she said. "She just decided she didn't want to be there anymore."

—Carrie Rengers

Health care coalition adds board member

Susan Smith of GLMV Architecture has been elected to the board of the Wichita Business Coalition on Health Care.

Smith, who serves as an employer representative on the board, replaces Lori Grubbs, who left the board recently when she changed jobs.

—Karen Shideler

Job openings drop in May as hiring stays weak

Job openings dropped in May from the previous month and layoffs edged up, fresh evidence that employers are reluctant to add workers.

The decline in job openings comes after a sharp rise the previous two months, driven by temporary government hiring for the 2010 census and more openings in the private sector. As a result, the number of available jobs has rebounded since the depths of the recession but remains well below pre-recession levels.

The Labor Department said Tuesday that job openings fell to 3.2 million in May from 3.3 million in the previous month. April's upwardly revised figure was the highest in 18 months.

—Associated Press

Fed: Investors have bigger debt appetite

Investors are showing a bigger appetite to fund a range of securities, an encouraging sign that credit conditions are improving.

The Federal Reserve, in its first such survey, released Tuesday, found that demand has increased over the past three months for funding high-grade corporate bonds, stocks, residential mortgage- backed securities issued by Fannie Mae and Freddie Mac and other asset-backed securities.

—Associated Press

Stocks surge after strong profit reports

The stock market got a shot of confidence and adrenaline from the start of second-quarter earnings season.

Investors were enthusiastic Tuesday about better-than-expected profits from aluminum maker Alcoa Inc. and railroad operator CSX Corp. The Dow Jones industrial average rose more than 145 points, and the major indexes were up well over 1 percent.

The companies, among the first to report second-quarter earnings, also issued upbeat forecasts for the rest of the year.

—Associated Press

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