kanaka
Joined: 04 Jul 2003
Posts: 933
Location: roaming...
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Posted: Mon Jul 07, 2003 4:42 am Post subject: Sears elects new board member
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HOFFMAN ESTATES, Ill. (Dow Jones)--Sears Roebuck & Co. named William L. Bax to the board, boosting the number of directors to 11.
In a press release Wednesday, the retailer said Bax, 59 years old, was managing partner of PricewaterhouseCooper's Chicago-area practice until he retired from the accountant firm Monday.
Sears, which had revenue of $41.37 billion in 2002, is trying to regain ground against its competitors by improving its apparel and appliance businesses and pruning costs. In late May, the company received first-round bids for its credit card operations. Although the unit has provided Sears with a majority of its profit, the company has also had to write off an increasing percentage of credit-card accounts as uncollectible.
Source
I'll fill in for Nofs until he gets back from his vacation.
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