Business

13 - 12:35am

U.S. BANKRUPTCY COURT JUDGE ROBERT JONES CHAPTER 7 Allen Lynn Grove and Margaret Lynn Grove, filed May 29 Hortencia Gonzalez and Raul Gonzalez, filed May 29

Business Calendar 06/02/13 - 12:35am

TUESDAY, JUNE 4 Young Professionals of Greater Lubbock – 5:30 p.m., Windsor Creek Apartments, 5301 Chicago Ave. Cost: No charge. First Tuesday networking session. WEDNESDAY, JUNE 5 Job Search Seminar – 9-12:30 p.m., Workforce Solutions, 1218 14th St. Cost: No charge. Registration is requested. For information or registration, contact Myra McNeil at 765-5038, ext. 2131. JUNE 12

Dell board recommends Michael Dell buyout offer 06/02/13 - 12:18am

The Dell board is standing behind a buyout offer from the company’s CEO and founder, and it has asked shareholders of the slumping PC maker to approve the deal in a July 18 vote. The company’s announcement Friday is the latest volley in a battle with prominent shareholders over the company’s future and Michael Dell’s role in it. Dell directors unanimously recommended an offer from Michael Dell and the investment firm Silver Lake Partners to take the company private for $24.4 billion, or $13.65 per share, according to filings with the Securities and Exchange Commission.

Cheaper leases offered to help spur electric car sales 05/31/13 - 12:21am

DETROIT — Auto companies are hoping lower lease prices can put a charge into sluggish electric car sales. Honda announced Thursday that it’s slashing the monthly lease cost of its tiny Fit EV by one third, following similar moves by other automakers. Honda also is throwing in other goodies, such as a free home charging station and unlimited mileage.

Economy grew at 2.4 percent in first quarter 05/31/13 - 12:21am

WASHINGTON — The U.S. economy grew at a modest 2.4 percent annual rate from January through March, slightly slower than initially estimated. Consumer spending was stronger than first thought, but businesses restocked more slowly and state and local government spending cuts were deeper. The Commerce Department said Thursday that economic growth in the first quarter was only marginally below the 2.5 percent annual rate the government had estimated last month. That’s still much faster than the 0.4 percent growth during the October-December quarter.

Business in Brief 05/31/13 - 12:20am

Business in Brief LOUISVILLE, Ky. A Florida tobacco distributor long watched by federal investigators pleaded guilty Thursday to conspiracy in a scheme to avoid paying taxes owed on online cigarette sales in Kentucky. Pedro “Peter” Bello of Miami, 43, became the second person to admit to plotting to use phony invoices to avoid paying taxes on millions of dollars’ worth of cigarettes sold in several states. Bello entered the plea in U.S. District Court in Louisville.

Sales of bank-owned homes hit five-year low in the first quarter 05/31/13 - 12:19am

LOS ANGELES — Sales of bank-owned homes have plunged to a five-year low, the latest evidence that the nation’s foreclosure woes are easing as the U.S. housing market recovery gains momentum. For the January-March quarter, sales of bank-owned homes fell 16 percent from the previous three months and were down 23 percent versus the first quarter of 2012, foreclosure tracker RealtyTrac Inc. said Thursday. The last time sales of bank-owned homes were lower was in the first quarter of 2008, the firm said.

Exxon Mobil CEO says no quick replacement for oil 05/30/13 - 12:28am

REPLACING OIL DALLAS (AP) — The CEO of Exxon Mobil Corp. says there’s no quick replacement for oil, and sharply cutting oil’s use to reduce greenhouse gas emissions would make it harder to lift 2 billion people out of poverty.

China's Shuanghui in $4.7 billion deal for Smithfield 05/30/13 - 12:27am

RICHMOND, Va. — The ham sandwich you had for lunch is the latest example of China’s growing appetite for U.S. investment. Smithfield Foods Inc., one of the biggest pork producers in the U.S., on Wednesday agreed to be bought by Shuanghui International Holdings Ltd., the majority shareholder in China’s largest meat processor, for about $4.72 billion.

Business in brief 05/30/13 - 12:26am

WASHINGTON U.S. banks earned more from January through March than during any quarter on record, buoyed by greater income from fees and fewer losses from bad loans. The largest banks are increasingly driving the industry’s profits, while many smaller institutions continue to struggle. The industry earned $40.3 billion in the first quarter, the Federal Deposit Insurance Corp. said Wednesday. That’s the highest figure ever for a single quarter. And it’s up 15.8 percent from the first quarter of 2012. NEW YORK