Nabisco

Six years after selling its Chun King plant in Cambridge, Nabisco Inc. has repurchased the Eastern Shore plant and plans to use it to make products in its specialty brands line, which includes such well-known names as Grey Poupon and A1 Steak Sauce.The plant, which made canned Chinese food, was closed in June and 173 jobs were eliminated. Hunt-Wesson Inc., maker of such products as Wesson Oil and Hunt's Ketchup, had previously bought the Chun King name and trademark and moved production to an Ohio plant.

Several players could be in the running for the LPGA's No. 1 ranking by the end of the season, or within the next couple years. Along with current No. 1 Lorena Ochoa of Mexico and former No. 1 Annika Sorenstam, there are a handful of LPGA players who could make a case for themselves should they win a major or two this season. Name Age Country Wins Majors Rank* Skinny Lorena Ochoa 25 Mexico 11 0 No. 1 Needs her first major to be solid No. 1. Annika Sorenstam 36 Sweden 69 10 No. 2 Coming off first significant injury.

In a transaction that will create the world's most profitable food company, Philip Morris, the parent of Kraft Foods, announced yesterday that it would buy Nabisco Holdings, the food company that makes and markets Oreo cookies, Ritz Crackers, and other classic packaged foods, for $14.9 billion. In addition, Nabisco Group Holdings, the parent of Nabisco Holdings, said that once it completes the sale of its food business to Philip Morris, it has agreed to be acquired by the R. J. Reynolds Tobacco Co. for $9.8 billion.

RANCHO MIRAGE, Calif. -- Since when does a victorious Sunday charge amount to a modest round of 3-under 69? And is it a full-scale retreat when you've got a three-shot lead with four holes to go and promptly fire up a bogey, a double bogey and a bogey? The answers were yes for Morgan Pressel, who at 18 became the youngest winner in the history of LPGA major championship competition; and yes for Suzann Pettersen, whose quest for victory at the Kraft Nabisco Championship veered erratically at the worst possible time.

Philip Morris Cos. said yesterday that it planned to acquire RJR Nabisco's North American cold-cereal business for $450 million.With its cash bid, which some analysts had predicted, Philip Morris hopes to catch the Nabisco division on the rebound from a planned sale to General Mills for the same price. That deal was scrapped two weeks ago because of concern over possible regulatory hurdles.The most recent proposal stands a better chance of winning regulatory approval, analysts said, because the combined divisions would still fall short of the two industry leaders, General Mills and Kellogg, limiting the potential qualms of regulators.

There are two big winners in the two-part deal to sell off Nabisco: Philip Morris shareholders, who saw the price of their stock rise nearly $4 yesterday on the news that the maker of Marlboro, Jell-O and Miracle Whip would now own brands like Oreo and Wheat Thins; and Carl Icahn, the value investor whose betting against the market when he bought a stake in Nabisco Group Holdings earlier this year gave him a large psychic and financial victory. "When we bought Nabisco three or four months ago, everybody said it was in big trouble because of the litigation," Icahn recalled in an interview from his home in East Hampton, N.Y., where he spent most of last week as the final installments in the closely watched takeover drama unfolded.

About a year ago, a Cambridge food manufacturing plant closed and sent home 173 workers.Today, at the same Eastern Shore plant, state, local and business officials will gather to mark the return of the plant's former owner that has put to work almost as many people.Hunt-Wesson Inc. closed the plant, which made canned Chinese food under the Chun King name, last June. Nabisco, which had sold the Eastern Shore plant in 1989, repurchased it last August for a reported price of $1.3 million. It now employs 160 people -- 65 more than the company's original estimate.

PARSIPPANY, N.J. -- Nabisco Holdings Corp., the biggest U.S. cookie and cracker maker, said yesterday that it will take a second-quarter charge of about $268 million -- three times estimated earnings -- to slash costs by firing about 3,100 workers and closing nine factories.The maker of Oreo and Ritz snacks will take another $118 million in pretax charges over the next year as it pares its work force by 6 percent. Chief Executive James Kilts will use the $100 million in annual savings to boost ad spending by a third to try to regain sales lost to rival Keebler Foods Co.The restructuring is Nabisco's second in two years aimed at reducing expenses, costing more than $1 billion in pretax charges.

NEW YORK - Philip Morris Cos. surged to its biggest gain in at least 20 years after agreeing to buy Nabisco Holdings Corp., the largest U.S. maker of cookies and crackers, for $18.9 billion. Johnson & Johnson led the Dow Jones industrial average yesterday to its largest advance in three weeks. Philip Morris soared $3.6875, or 15 percent, to $27.125, and Nabisco rose $1.125 to $52.75. The world's largest tobacco company will pay $55 a share for Nabisco, a 6.1 percent premium over its closing price Friday.

RANCHO MIRAGE, Calif. - Here are some things that are suspenseful: mystery novels, overtime, runoff elections, scary movies. But here's something that wasn't: Annika Sorenstam turning the Kraft Nabisco Championship into her personal bake-off, blowing out the candles on her eighth major championship, winning her record-tying fifth tournament in a row and running over every other player who showed up at Mission Hills Country Club. All Sorenstam did yesterday was shoot a 4-under-par 68 and win by eight shots, the largest winning margin of any of her eight majors.

Good morning -- LPGA -- It's the year's first major, the Kraft Nabisco. Winner gets all the macaroni and cheese and cookies she can eat.

Long before Michelle Wie became the most talked-about player in women's golf, another teen phenom in Hawaii with Korean roots was considered a future LPGA megastar. Grace Park won 55 titles during her career as a junior and amateur -- including the 1998 U.S. Women's Amateur over Jenny Chuasiriporn of Timonium -- before turning pro after two years at Arizona State. Though she won a tournament in each of her first four years on the LPGA Tour, Park seemed to be in a perpetual state of antipathy.

RANCHO MIRAGE, Calif. - Here are some things that are suspenseful: mystery novels, overtime, runoff elections, scary movies. But here's something that wasn't: Annika Sorenstam turning the Kraft Nabisco Championship into her personal bake-off, blowing out the candles on her eighth major championship, winning her record-tying fifth tournament in a row and running over every other player who showed up at Mission Hills Country Club. All Sorenstam did yesterday was shoot a 4-under-par 68 and win by eight shots, the largest winning margin of any of her eight majors.

SOUTH HADLEY, Mass. - Since being pushed by Karrie Webb to become the real Annika Sorenstam, the Swede has put Tiger Woods to shame in the domination department. Though one major victory short of Woods and still working on a Sorenstam Slam, the pride of Stockholm has won 29 of 74 starts with 54 top-five finishes, including 10 of 14 in the majors, since re-sculpturing her body and game. But Grace Park, one of many Koreans in the women's game, is relishing the idea of claiming No. 1 before Sorenstam's departure to motherhood and other interests in the near future.

About 100 workers will lose their jobs in autumn 2002 when Kraft Foods closes its Dorchester County plant that makes Grey Poupon and A-1 Steak Sauce, the company said yesterday. Production is moving to an existing plant in Pennsylvania. The county's unemployment rate of 9.4 percent is already the highest in the state. "It'll have a tremendous impact," said Thomas A. Flowers, president of the Board of County Commissioners. "I was hoping that [Kraft] would look at our needs a little more closely."

NEW YORK - Philip Morris Cos. surged to its biggest gain in at least 20 years after agreeing to buy Nabisco Holdings Corp., the largest U.S. maker of cookies and crackers, for $18.9 billion. Johnson & Johnson led the Dow Jones industrial average yesterday to its largest advance in three weeks. Philip Morris soared $3.6875, or 15 percent, to $27.125, and Nabisco rose $1.125 to $52.75. The world's largest tobacco company will pay $55 a share for Nabisco, a 6.1 percent premium over its closing price Friday.

CHEBEAGUE ISLAND, Maine -- Before it was over, they begged, badgered and cajoled. They wrote hard-edged letters and soft-hearted songs, ignoring those who ridiculed their cause. Yesterday, their passion paid off: The people of Chebeague Island saved a cracker.Only a few residents traveled to Boston to hear Nabisco formally announce that it is bringing back the Crown Pilot -- a New England chowder cracker discontinued last spring. Most of them knew that the place to savor victory was this snow-covered island about 10 miles north of Portland, where a national campaign to reclaim the snack began almost by accident.

Good morning -- LPGA -- It's the year's first major, the Kraft Nabisco. Winner gets all the macaroni and cheese and cookies she can eat.

There are two big winners in the two-part deal to sell off Nabisco: Philip Morris shareholders, who saw the price of their stock rise nearly $4 yesterday on the news that the maker of Marlboro, Jell-O and Miracle Whip would now own brands like Oreo and Wheat Thins; and Carl Icahn, the value investor whose betting against the market when he bought a stake in Nabisco Group Holdings earlier this year gave him a large psychic and financial victory. "When we bought Nabisco three or four months ago, everybody said it was in big trouble because of the litigation," Icahn recalled in an interview from his home in East Hampton, N.Y., where he spent most of last week as the final installments in the closely watched takeover drama unfolded.

In a transaction that will create the world's most profitable food company, Philip Morris, the parent of Kraft Foods, announced yesterday that it would buy Nabisco Holdings, the food company that makes and markets Oreo cookies, Ritz Crackers, and other classic packaged foods, for $14.9 billion. In addition, Nabisco Group Holdings, the parent of Nabisco Holdings, said that once it completes the sale of its food business to Philip Morris, it has agreed to be acquired by the R. J. Reynolds Tobacco Co. for $9.8 billion.