Suncor, union reach tentative contract
Calgary-based Suncor Energy Inc. and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union on Thursday announced a tentative agreement to merge the company’s East Plant workers into the existing collective-bargaining agreement at Suncor’s refinery in Commerce City.
The union’s bargaining committees, the International representative and the local’s president have agreed to unanimously recommend ratification of the terms of the settlement. A ratification vote is expected within one week.
Jewell Commons project announced
Inland Real Estate Development, the fifth-largest shopping- center owner in North America, said Thursday it will build a 600,000-square-foot shopping center on 68 acres at East Jewell Avenue and Gun Club Road.
Called the Marketplace at Jewell Commons, the undertaking will be part of a joint project between Inland and the Daly Group of Chicago. Construction on the project is expected to begin in 2007.
Tellabs shareholders can sue Notebaert
A federal appeals court in Chicago ruled Wednesday that shareholders of phone-equipment maker Tellabs Inc. can proceed with a lawsuit accusing former chief executive Richard Notebaert of overstating sales projections to inflate the company’s share price. Notebaert is now CEO of Denver-based Qwest Communications.
The 7th Circuit Court of Appeals reversed part of a lower-court ruling dismissing the case. The court found that certain optimistic statements made by Notebaert in early 2001 about sales misled investors. Tellabs, based in Naperville, Ill., later lowered its sales projections for the first quarter and ultimately reported sales that were significantly below its original forecasts, causing its stock to fall.
Qwest spokesman Chris Hardman said Notebaert would not comment on the ruling.
OfficeMax closings to spare Colorado
Itasca-based OfficeMax said Thursday that none of its 28 Colorado stores will be affected by the company’s decision to close 110 of its stores as part of a corporate restructuring effort.
Retired pilots fight OK of United’s plan
The United Retired Pilots Benefit Protection Association filed an appeal Thursday of the approval of United Airlines parent UAL Corp.’s reorganization plan, which will allow it to exit bankruptcy as early as Wednesday. Retired United pilots’ pension benefits are affected by the termination of the airline’s pilot pension plan.
Durable-goods orders post solid gain in Dec.
Orders to U.S. factories for big-ticket items posted a solid gain in December, propelled by strong demand for autos and machinery, as manufacturers closed out a record year.
The Commerce Department reported Thursday that orders for durable goods rose by 1.3 percent in December, the third straight monthly increase, to a monthly record of $228.1 billion.
For all of 2005, orders increased by 8.2 percent to an all-time high of $2.51 trillion. Orders for durable goods had risen by 10 percent in 2004 and 4.2 percent in 2003 after declines in 2002 and 2001, when the country was in recession.
Investors support BlackBerry maker
BlackBerry, the hand-held communicator that bankers and politicians can’t live without, isn’t about to shut down. At least that’s the verdict of investors.
Shares of Research In Motion Ltd., maker of the BlackBerry, have increased sixfold since the company was hit with a lawsuit in 2001 that threatened to halt U.S. service.
NTP Inc. claims the BlackBerry uses some of its patented technology without permission, and Research In Motion co-chief executive James Balsillie said the company may get relief from the U.S. Patent and Trademark Office, which made a preliminary decision that NTP’s patents should be canceled.
Shareholders OK sale of Dex to Donnelley
R.H. Donnelley Corp.’s proposed purchase of larger rival Dex Media Inc. won shareholder approval at each company Wed nesday. The $4.2 billion purchase announced in October will create the country’s third- largest yellow-pages company.
Donnelley publishes directories under the Sprint name, while Colorado-based Dex is the official directory publisher for Denver-based Qwest Communications International Inc.
Soul-food restaurant closed in tax dispute
Pierre’s Supper Club, a popular soul-food restaurant at 2157 Downing St. in the Five Points neighborhood, was shut down Thursday by the Colorado Department of Revenue for failing to pay back taxes.
Restaurant officials could not be reached Thursday.
According to the Department of Revenue website, Pierre’s owes $34,098.63 in taxes for a period from 1997 to 2000.
The restaurant, a Five Points institution for more than three decades, has undergone a series of ownership changes since founder Lawrence Pierre retired.
