Five-and-dime retailerto cease in February
YORK, Pa. -- McCrory Corp., which operates discount variety stores under the names Dollar Zone, McCrory, G.C. Murphy, J.J. Newberry and T.G. & amp;Y., plans to cease operations in February.
"Although McCrory had converted the vast majority of its locations to the 'dollar store' format last year, this sale nonetheless marks the final chapter in the history of the last of the major five-and-dime retailers in the United States," said Paul Buxbaum, chief executive of Buxbaum Group, which will liquidate the stores.
US Airways to reviewpullout decision in Erie
ERIE, Pa. -- A group of Erie officials has been unable to persuade US Airways officials to reverse a decision to pull jet service from Erie International Airport, but the airline agreed to visit the airport to review the decision. Erie officials are suggesting turboprop airplanes be used at the airport.
Bankruptcy loomsfor Enron Corp.
HOUSTON -- In quick succession Wednesday, two rating agencies dropped Enron Corp.'s credit rating to junk, obliging it to make good on billions of dollars of debt it probably can't pay. Dynegy Inc. immediately backed out of an $8.4 billion acquisition plan.
The collapsed deal made bankruptcy seem inevitable for a company that just months ago was the country's seventh largest in revenue -- but crumbled after admitting it overstated profits.
Vindicator staff and wire reports