Tulsa World: FYI: Business

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FYI: Business

By Staff and Wire Reports
Published: 6/10/2009 2:22 AM
Last Modified: 6/10/2009 6:30 AM

Colorado plant remains closed, Williams says

Williams Partners LP's natural gas processing plant in Ignacio, Colo., remained closed Tuesday after a June 3 pipeline rupture.

There is "no update on Ignacio yet," Jeff Pounds, a company spokesman, wrote in an e-mail.

There was no word on when the Tulsa-based company plans to return the plant to operation.

Williams Partners said Friday that the plant, with a capacity of 450,000 million cubic feet a day, was expected to return to service "early" this week.

The company said it had rerouted more than half of the natural gas normally processed at Ignacio to other facilities.

Eddie Bauer on verge of bankruptcy filing

Eddie Bauer Holdings Inc., the Bellevue, Wash.-based outdoor-clothing chain, may seek bankruptcy protection as soon as this week, according to five people with knowledge of the discussions.

Hilco Consumer Capital LLC has expressed interest in bidding on the company's assets, the sources told Bloomberg News. CCMP Capital Advisors LLC, a private-equity firm based in New York, may also make an offer for the retailer, which is being advised by Peter J. Solomon Co., they said.

Shares of Eddie Bauer fell 24 cents to close at 24 cents Tuesday in Nasdaq Stock Market trading.

The shares have lost 54 percent this year.

Eddie Bauer, which opened its first store in Seattle in 1920, has reported annual losses for the past three years. The retailer operates about 370 stores in the U.S. and Canada.

Aviation fuel price rises in April

U.S. airlines paid an average price of $1.74 per gallon for aviation fuel in April, up from $1.65 a gallon in March, the Department of Transportation said Tuesday.

DOT's Bureau of Transportation Statistics reported that the price was down 42 percent from the April 2008 level of $3.01 a gallon.

Wholesale inventories fall 1.4 percent

Wholesalers slashed inventories more than expected in April as businesses across the nation struggled to get stockpiles in line with falling sales.

Still, analysts were slightly encouraged because sales dipped at a slower pace than in the previous month.

The Commerce Department said Tuesday that wholesale inventories fell 1.4 percent in April, more than the 1.1 percent decline that economists expected. It marked the eighth straight month that inventories dropped.

Sales at the wholesale level fell 0.4 percent in April following a 2.4 percent drop in March. Sales by wholesalers have fallen in nine of the last 10 months.

By Staff and Wire Reports

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