REAL ESTATE

Saks Names Senior VP, Real Estate

BY CSA STAFF

New York City Saks Inc. announced that Vince Corno joined the company on Monday as senior VP of real estate.

Since May 2006, he served as VP of development for real estate company Forest City Enterprises, Inc. From 1998 to April 2006, Corno served in several real estate positions of increasing responsibility with The May Department Stores Co. including the post of senior VP of May Realty, Inc.

Corno will be responsible for overseeing all real estate matters for Saks Fifth Avenue and Off 5th, including new store development, expansions and remodels.

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O’Reilly Automotive looks to buy CSK Auto

BY CSA STAFF

SPRINGFIELD, Mo. O’Reilly Automotive said today that it has expressed interest in acquiring all of the outstanding shares of CSK Auto common stock for $8.00 per share in cash. The transaction is valued at approximately $845 million, which includes the assumption of about $490 million of CSK debt.

According to O’Reilly Automotive, the proposal represents a 34% premium over CSK’s closing stock price on Thursday, Jan. 31, as well as a 63% premium over the average trading stock price for CSK over the last thirty days.

“The benefits of our proposed transaction are very compelling and offer significantly more security to CSJ stockholders, creditors, suppliers and partners than CSK on a standalone basis,” O’Reilly ceo Greg Henslee said in a letter to CSK ceo Lawrence Mondry.

Henslee went on to detail how the merger would create the third largest auto parts retailer in the country. “Building upon the foundation of CSK’s Western presence and O’Reilly’s Midwestern and Southeastern presence, the combined company would be positioned to further leverage O’Reilly’s very effective dual-market strategy,” Henslee said.

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New DeCA site focuses on good health

BY CSA STAFF

FORT LEE, Va. The Defense Commissary Agency has revamped its Web site once again, this time with a focus on diet and nutrition.

The new DeCA site features the “Ask the DeCA Dietitian” section, a nutrition forum hosted by Army Reserve Maj. Karen Fauber, a registered dietitian. According to DeCa, customers can use the forum to exchange questions, comments and experiences on nutrition topics with the DeCA dietitian and other users.

Customers looking for recipe ideas will find them on the new site in the “Kay’s Kitchen” section, which provides easy and nutritional recipes.

 

The site also informs customers of sales through its “Savings Aisle” section, which also provides links to Internet coupons.

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