Martha Stewart to design home-goods line for Macy’s
New York – Martha Stewart Living Omnimedia on Thursday said it will design a line of upscale home merchandise for Federated Department Stores, operator of the Macy’s and Bloomingdale’s chains, set to roll out next year in Macy’s stores across the country.
The Martha Stewart Collection will include home items such as sheets, dishes, cookware, holiday decorations and garden furniture.
Financial terms of the deal were not disclosed.
Last summer, Federated announced that the Foley’s nameplate will change to Macy’s this year. In Colorado, Federated operates 11 Foley’s, and three more are planned or under construction.
The deal with Federated is the latest alliance with a big retailer for Martha Stewart, who has built a media and publishing company on her reputation as an entertaining and lifestyle guru.
Martha Stewart also sells a line of home furnishings in discount retailer Kmart, but the two lines won’t compete. The new Macy’s collection is aimed at a more affluent audience, Stewart said.
The Federated deal follows an agreement Stewart signed in February with KB Home to design a line of homes aimed at wealthy buyers.
DENVER
Owens weighs veto on global trade bill
An international trade bill that could give U.S. companies an edge when bidding for state contracts landed Thursday on Gov. Bill Owens’ desk for approval. Owens, who suggested through a spokesman he might veto it, has 10 days to make a decision.
The bill, passed by the House in February and by the Senate in March, would remove Colorado state procurement rules from existing international free-trade agreements, including the Central American Free Trade Agreement and World Trade Organization agreements.
The bill would also require the governor to seek the legislature’s approval to join such pacts.
DENVER
State legislators move to fight identity theft
Two bills targeting identity theft moved closer to state law Thursday. House Bill 1347 would create an identify-theft and financial-fraud unit within the Colorado Bureau of Investigation. The unit would provide a database and staff assistance to law enforcement agencies. That bill passed out of the House and will go to the Senate.
House Bill 1326, which would make identity theft a Class 4 felony punishable by a minimum sentence of two to four years, passed the House Appropriations Committee.
LONGMONT
Pending deal pays off for Intrado executives
At least 11 Intrado executives received a total of more than $24 million in lieu of canceled stock options as part of the company’s pending sale to West Corp. of Omaha.
The executives, including Intrado chief executive George Heinrichs, received between $273,600 and $5.24 million for the canceled options, according to filings with the U.S. Securities and Exchange Commission. Hein richs received $3.19 million for his canceled options.
DURANGO
Oakridge finds buyer for $40 million land
Texas-based Oakridge Energy Inc. has found a buyer for 1,965 acres southeast of Durango that it is selling for $40 million, the oil and gas development firm said this week. Denali Partners LLC, described as an equity firm, has deposited $2 million to begin a 60-day inspection on the land, Oakridge president Sandra Pautsky said.
WASHINGTON
Sheila Bair likely to be named FDIC chief
Sheila Bair, a Treasury Department official in the early years of the Bush administration, is expected to be named by the White House to head the Federal Deposit Insurance Corp.
Bair’s nomination to lead the independent agency was expected in a few days, a person familiar with the matter said Thursday, confirming a report by The Wall Street Journal Online.
DENVER
Apex Silver Mines sells 2.1 million shares
Apex Silver Mines Limited announced Thursday that the company has sold an additional 2.1 million shares, increasing its previously announced offering of 4.3 million shares to 6.4 million at $24.45 per share.
Apex Silver intends to use the net proceeds of about $151 million to continue further evaluation, exploration, advancement and expansion of its portfolio of exploration properties and for other general corporate purposes.
VANCOUVER, B.C.
Intrawest Corp. picks new president, COO
Intrawest Corp., a Canadian resort operator, announced Thursday that Alex Wasilov has been appointed to the newly created position of president and chief operating officer. Intrawest owns Copper Mountain and operates Winter Park Resort.
TULSA, Okla.
Williams Partners to add pipelines in Colo.
Williams Partners LP, a U.S. pipeline partnership, said it agreed to acquire a 25.1 percent stake in a gas-gathering subsidiary for $360 million to add pipelines and plants in New Mexico and Colorado.
Williams Partners agreed to buy the stake in Williams’ Four Corners LLC unit in the San Juan Basin, the Tulsa, Okla.-based company said Thursday.
DETROIT
Ford president Padilla to retire on July 1
Ford Motor Co. president Jim Padilla, the company’s No. 2 executive, will retire July 1. He becomes the latest manager to depart as chief executive William Clay Ford Jr. revamps his executive team and tries to end losses in North America.
Bill Ford, 48, will assume the duties of Padilla, 59, the company said in a statement. The president’s post will remain vacant, spokesman Oscar Suris said in an interview.
DENVER
Frontier cites 14.5% rise in March traffic
Frontier Airlines said it had a 14.5 percent increase in March traffic measured in revenue passenger miles, compared with the same month a year earlier.
Its planes were 81.3 percent full in March, up from 79.4 percent full a year ago. But passenger yield, a measure of financial performance, was down 3.1 percent.
WASHINGTON
FDA looking at health of wireless-phone use
The Food and Drug Administration plans to review the health effects of wireless phones after a recent analysis suggested long-term use may be linked to a risk of brain cancer.
The agency will hold a meeting to evaluate data on health risks associated with cordless phones and cellphones.
