FYI: Business
By Staff and Wire Reports on Sep 18, 2013, at 2:25 AM Updated on 9/18/13 at 3:22 AM
Chandler
FYI
The TCC StartUp Cup's search for entrepreneurial excellence narrowed its scope to six finalists Tuesday.
The TCC Startup Cup’s search for entrepreneurial excellence narrowed its scope to six finalists Tuesday.
Magellan Midstream CFO to leave firm next year
John Chandler, chief financial officer of Magellan Midstream Partners LP, will leave the partnership at the end of March, the Tulsa-based company announced Tuesday.
"John has been a critical part of Magellan's success, from playing a key role in the partnership's initial public offering in 2001 to ensuring we maintain strong financial metrics as Magellan has grown," CEO Michael Mears said in a statement. "He is well-respected in the financial and investment community, leading Magellan's fiscal policy that has resulted in consistent value to our unit holders and an industry-leading balance sheet."
Chandler wants to spend more time with his family, church and community causes, Magellan said.
The company said it will immediately start the process to find a replacement.
Magellan is a publicly traded partnership that transports, stores and distributes refined petroleum products and crude oil.
Stocks higher as Fed kicks off its meeting
Stocks rose Tuesday as investors shrugged off worries about what the Federal Reserve is up to.
Many expect the Fed to announce Wednesday that it will reduce its $85 billion monthly bond-buying program. Wall Street is hoping for a small reduction because the bond-buying has kept interest rates ultra-low and made it cheaper to borrow money.
The Dow Jones industrial average gained 34.95 points, or 0.2 percent, to close at 15,529.73.
The Standard & Poor's 500 index rose 7.16 points, or 0.4 percent, to 1,704.76. The index was five points below its record high reached on Aug. 2. It has risen for three trading days in a row, and 10 of the last 11.
FYI
The TCC StartUp Cup's search for entrepreneurial excellence narrowed its scope to six finalists Tuesday.
The TCC Startup Cup’s search for entrepreneurial excellence narrowed its scope to six finalists Tuesday.
