The Wichita Independent Business Association will host Jeff Fluhr, president of the Wichita Downtown Development Corp., as speaker for its Sept. 14 luncheon at the Wichita Area Association of Realtors building, 170 W. Dewey.
The luncheon begins at 11:45 a.m. The cost is $15 and reservations are required by Friday. Reservations can be made by calling WIBA office at 316-267-8987 or e-mailing email@example.com.
Fluhr's presentation will highlight elements of the approximately $150 million investment in current downtown development and also give an overview of the downtown master plan.
Stocks fall on worries about European debt
NEW YORK — Stocks closed lower Tuesday following new worries about Europe's debt problems.
Treasury prices rose and gold settled at a new high as investors sought out safe assets.
U.S. stocks followed European markets after news reports said banks in Europe may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.
Shares of major European banks including Barclays PLC and UBS fell, and the dollar rose against the euro.
Casey's board rejects latest buyout offer
NEW YORK — The board of Casey's General Stores Inc. rejected the latest takeover bid from convenience store operator Alimentation Couche-Tard Inc., saying Tuesday that the $1.47 billion offer was too low.
The Ankeny, Iowa, company also said it has received a higher preliminary proposal from an unnamed third party and has agreed to begin talks with that suitor.
Canada's Alimentation Couche-Tard, which owns the Circle K brand in the U.S., has struggled to build support for its attempt to acquire Casey's and has nominated eight people for election to the Casey's board.
Last week, Couche-Tard raised its offer to $38.50 per Casey's share in cash from $36.75. The $1.47 billion total price excludes about $528 million in Casey's debt.
Casey's said it has received another preliminary proposal of $40 a share in cash but that offer also undervalues the company. Casey's said it nonetheless has agreed to enter talks with the unnamed suitor to see if a deal can possibly be reached.
Economic pain failed to improve in July
Americans' economic struggles persisted in July, largely unchanged from the previous month, according to the Associated Press' monthly analysis of conditions around the country.
Nationally, unemployment, foreclosure and bankruptcy rates didn't budge from June. Yet the economic pain varied among localities, depending on their economic bases. Stress eased in counties whose work forces lean toward areas like agriculture, mining, wholesale trade and finance.
By contrast, counties with many employees in the retail and real estate industries suffered higher distress in July, according to a statistical analysis by AP.