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St. Louis Business & Technology News
www.slfp.com/SLFPBIZp.htm "When you think Saint Louis, think Saint Louis Front Page," a weekly publication covering the news and events in the greater St. Louis area. 
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Senate Considers Anti-Spam Bill WASHINGTON, D.C., (PRNewswire), May 15, 2002 - Americans, at home and at work, face a growing nuisance every time they log on to e-mail - spam, from shocking pop-up porn solicitations to get-rich-quick schemes and pitches for diet aids. No one knows quite what to do to control this junk that consumes valuable bandwidth and floods the public network. Congress is now taking action on an anti-spam bill it hopes will help solve the problem. On Thursday, May 16, the Senate will meet to consider S.630, which prohibits senders of unsolicited commercial electronic mail from disguising the source of their messages. The bill will give consumers the choice to cease receiving a sender's unsolicited commercial electronic mail messages. The Senate will also consider S.2201 to protect the online privacy of individuals who use the Internet. According to Paris Trudeau, e-mail security expert at SurfControl, each Internet user in America received 571 spam messages in 2001 and by 2006, that number will triple. Trudeau stated that the Federal Trade Commission gets 15,000 complaints about spam every day. Worldwide, spam is estimated to cost $8.6 billion a year. Spam accounts for more than a quarter of all email traffic. "All e-mail you send and receive carries risk. And while spammers are getting more and more sophisticated in finding their way to our inboxes, we have to become more sophisticated in keeping them out," stated Trudeau.  SBC Trims 5,000 Jobs ST. LOUIS, (BUSINESS WIRE), May 14, 2002 - SBC Communications Inc. (NYSE:SBC) will eliminate 5,000 jobs in the second quarter in response to the continued poor economy and a burdensome regulatory environment, the company said today in an announcement. SBC said the jobs will impact employees in Arkansas, California, Connecticut, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, Ohio, Oklahoma, Texas and Wisconsin. The workforce cuts involve management and non-management employees not directly involved in serving customers. "We will continue to provide the best possible service to our customers," said SBC President William Daley. "However, the soft economy-and regulations which our competitors don't face-have combined to force us to cut expenses and jobs." "Reducing our workforce is something we try to avoid, but until the economy begins to recover, it's something we have to do," Daley said. "Policymakers could provide this industry and the U.S. economy with a boost by creating rules which provide an incentive for companies to invest and create jobs," Daley said. "As the rules stand now, SBC is discouraged from investing in new infrastructure or new jobs. These rules are not economically rational and they are uncertain at best." SBC has reduced its workforce by approximately 10,000 in the past two quarters. In April, the company said it would probably eliminate 4,000 positions over the last three quarters of 2002. SBC owns 60 percent of America's second largest wireless company - Cingular Wireless - which serves more than 21 million wireless customers. Internationally, SBC has telecommunications investments in 28 countries. Sears to Acquire Land's End for $1.9 Billion ST. LOUIS, (PRNewswire), May 13, 2002 - Sears, Roebuck and Co. (NYSE: S) and Lands' End, Inc. (NYSE: LE) have entered into a definitive agreement for Sears to acquire the direct merchant in a cash tender offer for $62 per Lands' End share, or approximately $1.9 billion. Upon completion of the transaction, expected in June, Lands' End will become a wholly owned subsidiary of Sears and will continue to be headquartered in Dodgeville. Lands' End is the largest specialty apparel catalog company and seller of apparel on the Internet in the U.S. Sears will introduce a selection of Lands' End products into many of its 870 full-line stores by fall 2002 and is expected to complete product rollout to stores by fall 2003. Sears stores will carry a compelling assortment of Lands' End men's, women's, and children's apparel, as well as a selection of footwear, accessories and home fashions. Lands' End will continue to offer its complete product line direct to customers through its catalogs and online at landsend.com. The growth prospects of Lands' End and Sears' customer-direct businesses, which consist of online and catalog operations, will be enhanced significantly. Alan J. Lacy, chairman and chief executive officer, said the opportunity to be the exclusive retail distributor of Lands' End merchandise is significant to the Sears' overall apparel strategy. It further differentiates Sears as a destination for nationally recognized brands, improves its apparel offering and accelerates growth of its customer-direct business. Lands' End and Covington, Sears' new proprietary classic apparel line launching this fall, will be the foundation of the company's proprietary apparel offerings. Including other important national brands, Sears will provide compelling apparel assortment choices to its customers. "Lands' End is a very successful and well-managed company," Lacy said. "We were drawn to Lands' End's brand strength across all apparel categories, including men's, women's and children's. It is an excellent fit for Sears and our customers, and will aid us in becoming the preferred shopping destination for families. We can help accelerate the growth of the Lands' End direct business through Sears' extensive customer relationships." "Today's transaction allows us to increase the market penetration of the Lands' End brand through exclusive retail distribution in approximately 870 Sears stores," said David F. Dyer, president and chief executive officer of Lands' End. "Strategically, we view retail distribution of our products as an important growth opportunity. We were considering the prospect of opening stores ourselves or seeking a strategic partner, and ultimately decided that our alliance with Sears offered the most exciting opportunity. Sears is the logical partner for us, considering its heritage of quality and strong proprietary brands, such as Craftsman and Kenmore. I feel confident that customers will respond well to another exceptional brand at Sears." American Express Returns to New York with Sponsorships to Revitalize Downtown NEW YORK, (SLFP.com), May 13, 2002 - American Express Company marked the return of its corporate headquarters to New York City with the announcement of a major cultural sponsorship designed to draw tens of thousands of people to lower Manhattan this summer. At official ceremonies this morning at New York's World Financial Center, American Express re-opened its world headquarters and welcomed back the first of 4,000 employees returning to lower Manhattan. The company, whose corporate headquarters was damaged September 11th, has been operating from seven temporary locations throughout the tri-state area. Joined by Governor George E. Pataki, Mayor Michael R. Bloomberg, U.S. Representative Charles B. Rangel and other members of the New York Congressional delegation, and leaders of the downtown community, American Express marked the occasion by announcing the launch of the Downtown NYC River to River Festival 2002. The five-month Festival will bring more than 500 music, dance, arts, and cultural events to downtown New York, including free concerts by headline performers Sheryl Crow, Wynton Marsalis, and Randy Newman. "Our 152-year history is filled with defining moments - staying open during crises when others close, coming through for our customers all around the world, doing the right things even when it is difficult to do," said Kenneth I. Chenault, chairman and chief executive officer, American Express. "When we look back on this day several years from now, I believe we will see it as another defining moment that marked the beginning of a new era of growth and opportunity for our company and our city. And we will take pride in knowing that we were a vital part of that renewal. The Downtown NYC River to River Festival 2002 will bring mostly free performances, cultural events, and hundreds of artists to the East River's South Street Seaport to venues throughout the Financial District to Historic Battery Park and Battery Park City and to the World Financial Center on the Hudson River. The Festival represents a unique partnership reflecting the combined commitment of the Alliance for Downtown New York, the Battery Park City Authority, the Battery Park City Parks Conservancy, the Lower Manhattan Cultural Council, the Port Authority of New York & New Jersey, the South Street Seaport Marketplace and the World Financial Center Arts and Events Program. In addition to American Express, the Festival's presenting sponsor through a commitment of $1 million, River to River sponsors include: AT&T, Pace University's Center for Downtown New York, Delta Air Lines, Insignia/ESG, Starbucks Coffee, Westfield America, New York Waterway, the Regent Wall Street, and 93.9 WNYC - New York Public Radio. Major foundation support comes from the September 11th Fund, created by the United Way of New York City and the New York Community Trust, the New York Times 9/11 Neediest Fund, and the Andrew W. Mellon Foundation. American Express earlier announced its founding sponsorship of the Tribeca Film Festival, which last week helped attract thousands of people to lower Manhattan. As part of its commitment to the downtown community, the company will continue to sponsor events, large and small - each with the goal of encouraging people to come to lower Manhattan. Travelers Express Goes High Tech to Stop Counterfeiters ST. LOUIS, (PRNewswire), May 13, 2002 - A new security feature has been implemented on Travelers Express money orders that will aid money order agents, merchants and consumers in distinguishing an authentic money order from a counterfeit item. Many Travelers Express money orders now being sold around the country show the company's globe-shaped logo on the front. Pressing a finger on the heat-sensitive logo causes the image to fade, which then reappears once the finger is removed. This simple test allows a money order agent, merchant or consumer to ensure the authenticity of a money order. "This security feature will help us protect the integrity of our money orders in the marketplace," said Tony Ryan, vice president and general manager for Travelers Express/MoneyGram. "By utilizing newer technology in our product line to build better safeguards, we hope to deter counterfeiters." Should a counterfeiter succeed in reproducing a money order, detecting such illegal reproductions will be easier, since the counterfeited item would not have the same ability to fade as the authentic product. Travelers Express expects it will take a few months to complete phasing in the enhanced money orders at all agent locations. With more than 50,000 agent locations in the U.S., the company is distributing the new stock to agents as they restock money order supplies. Return to St. Louis Front Page 
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