Walgreen to slow expansion (07/12/08)

Walgreen Co., which is expected to start construction soon on a new store in Portland, announced this week that it's going to slow its long-term rate of store openings in 2009.

The company's chairman and chief executive, Jeffrey Rein, told The Wall Street Journal this week that the decision to slow down on new store openings is related to changing views on how to allocate capital, not concerns about the economy.

Walgreen increased its number of store locations by 9 percent in the current fiscal year and plans to increase by about 8 percent in the fiscal year that begins Sept. 1. But in fiscal 2009, it expects the growth rate to slow to 6 percent. And in fiscal 2010, the growth rate is expected to be 5 percent, The Journal reported.

Strong sales

Wal-Mart Stores reported a huge jump in same-store sales figures this week.

The Arkansas company, which has a Supercenter in Portland, reported that same-store sales for the five weeks ending July 4 rose by 5.8 percent. That's the highest monthly rate of growth since May 2004.

Revenue rose nearly 12 percent to $39.94 billion, compared to $35.81 billion a year ago.

Workforce board

The Eastern Indiana Regional Workforce Board will meet this month in New Castle.

The luncheon meeting will take place Wednesday, July 23, from 10 a.m. to 1 p.m. at the New Castle-Henry County Public Library, 376 S. 15th St.

Contact Barbara Street at (765) 282-6400 or (800) 483-2742 ext. 102 before noon, July 16 if you wish to add an agenda item.

Eye screenings

Back to school eye screenings will be free for one day at a center in Portland.

The Portland Eye Center, 1111 N. Meridian St., will be offering free eye screenings from 2 to 4 p.m. on Wednesday, July 16. No appointments are necessary, call (260) 726-4210 for more information.

4-H retirement

Jay County's 4-H secretary, Shelba Chenoweth, will be retiring Aug. 1 and a retirement gathering to thank her for her service will take place.

The gathering will take place from 1 to 4:30 p.m. at 504 W. Arch Street. Ice cream, cake, and refreshments will be served.

Herbal award

A Berne herbal supplement store has received an outstanding retailer award this month.

Earthen Treasures was selected as the recipient of the Michael and Lesley Tierra East-West Herbal Course award. Owner Linda Gifford started selling herbs and vitamins from her home in the 1980's and has since become an authority on herbals in the area.

Bank appointment

A new member has been added to the First Bank of Berne and First Berne Financial Corporation's board of directors.

Roger Muselman was named to both boards effective July 1 for the financial institutions. He currently serves as the chairman of DRG, a management company overseeing the companies owned by the Muselman family in Berne.

Safety honored

A former Jay County resident was honored for 20 years of driving for UPS delivery without an accident.

Steve Guntle, Selma, was recently honored for his safe driving working for the delivery service.

Guntle was a 1977 graduate of Jay County High School and previously ran a route in the Portland area.

His parents, Don and Eileen, reside in rural Portland.

Toyota slows

Toyota Motor Corp., the seemingly unstoppable juggernaut that saw its U.S. sales double in the last decade, has come back down to earth.

Toyota is a major competitor of Honda, a prime customer of FCC (Indiana)'s Portland plant.

Stung by rare double-digit sales declines and burdened by a growing inventory of slow-selling pickups, Toyota said Thursday it will start producing the Prius hybrid in the U.S. and will shut down truck and SUV production to meet changing consumer demands.[[In-content Ad]]