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Blockbuster Won’t Pay 3Q Dividend

BY CSA STAFF

Dallas, Blockbuster Inc. will not pay a dividend in its third quarter, the first time it has failed to do so since it went public in 1999. The decision, made by the company’s board, is the latest sign of financial difficulty at Blockbuster.

Blockbuster paid a quarterly dividend of 2? a share on June 20. It will save about $3.7 million by not paying the third-quarter dividend of that amount, based on 183.7 million average shares outstanding in the second quarter.

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Farmer Jack to Close Stores After No Deal

BY CSA STAFF

Montvale, N.J., Farmer Jack parent company Great Atlantic & Pacific Tea Co. has announced that it will close four Farmer Jack stores in New Jersey after a union vote earlier this week rejected a proposed contract amendment.

The amendment to cut wages by 10% was designed to help the parent company sell the chain.

The closures will occur over the next 30 days.

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Farmer Jack to Close Stores After No Deal

BY CSA STAFF

Montvale, N.J., Farmer Jack parent company Great Atlantic & Pacific Tea Co. has announced that it will close four Farmer Jack stores in New Jersey after a union vote earlier this week rejected a proposed contract amendment.

The amendment to cut wages by 10% was designed to help the parent company sell the chain.

The closures will occur over the next 30 days.

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