Whirlpool

NEW YORK -- U.S. stocks rose yesterday as Whirlpool Corp. and Tektronix Inc. said they would slash jobs, raising confidence that companies will do whatever it takes to boost profits.Whirlpool, which said it would cut 4,700 jobs, and Tektronix, which said it would eliminate 250, both jumped more than 10 percent and were the biggest gainers in the Standard & Poor's 500 index.They were among a host of companies this week that announced unit sales, spinoffs or share buybacks aimed at pleasing investors.

Police logEllicott City: 3400 block of Jay Court: Someone tried to steal TC 1987 Acura Legend after prying open its door Friday or Saturday, police said.Ellicott City: 5300 block of Sunnyfield Court: Burglars broke into a house under construction and stole a whirlpool tub and a patio door Nov. 15 or 16, police said.Ellicott City: 10000 block of Autumn View Lane: A gray 1986 Acura Legend with Maryland tags AZL-436 was stolen Friday or Saturday, police said.

CHICAGO -- Continuing a trend among large companies of cutting employment even in times of prosperity, the Whirlpool Corp. said yesterday that it would close two North American factories and reduce its worldwide work force by 3,200, more than 7 percent.The cutbacks will result in a one-time charge of $240 million against earnings in the current quarter, but are expected eventually to save $150 million in annual operating expenses. Whirlpool, based in Benton Harbor, Mich., has earned $249 million on sales of $6 billion in the first nine months of the year.

Too many house hunters forget that at-home happiness depends upon more than newness, convenience and room to roam. As a consequence, they gravitate toward larger homes in new housing developments. The trouble, for many of us, is that look-alike houses, spindly trees and seamless sidewalks and streets seem woefully sterile and lacking in character.That's why, for those who long for a sense of stability and rootedness and for a home that looks substantial and durable, it may well make more sense these days to take a second look at older neighborhoods and older homes.

Electric car battery productionGeneral Motors and a battery technology company will start commercial-scale production of nickel metal-hydride batteries for electric cars next year, the companies announced yesterday.Nickel metal-hydrides store about twice as much electricity per pound as lead-acid batteries, and can deliver the energy quickly. A Geo Metro converted to electricity with nickel metal-hydrides won a electric car race in Phoenix early this year by traveling more than 200 miles at highway speeds without recharging.

On a day that began in celebration, three friends died together in an icy whirlpool at the foot of a waterfall south of Palm Springs, Calif., a tragedy spawned by foolishness and heroism.Authorities, who had been searching rain-swollen Murray Canyon since Sunday afternoon -- when one of two survivors led them to the remote site -- recovered the last of the bodies yesterday."I know I should be dead but somehow, through the grace of God, I'm not," said survivor John Torchia, 20, a lifeguard who vainly struggled against spinning currents to rescue his dying friends and his dog, Buddy.

Two Pasadena men have been arrested and charged with stealing $5,400 worth of property, including three whirlpool tubs, from home construction sites around the county.County police said yesterday they got a tip from Prince George's County authorities that led them to a home in the 200 block of Lake Road in Pasadena.Authorities said they seized property from that address and arrested the owner, Thomas Scott Farace, 29, who was charged with four counts of felony theft and one count of misdemeanor theft.

NEW YORK -- Dominique Wilkins said Lawrence Taylor can make it back from a ruptured Achilles' tendon, but it won't be easy. The Atlanta Hawks' 32-year-old superstar should know.On Jan. 28 of this year in a game against the Philadelphia 76ers, Wilkins suffered virtually the exact injury the New York Giants linebacker did Sunday. Out for the remainder of the season, Wilkins went through six months of grueling rehabilitation and recovered fully in time for last week's NBA season start."It was rough," Wilkins said yesterday from his suburban Atlanta home.

Q: We're thinking of turning a small bedroom adjacent to the master bedroom into a combination bath and exercise room. Besides a whirlpool tub for two, the thing I really want is a fireplace. My husband says forget it, it's not practical. What do you think?A: I think you'd adore the fireplace. The double whirlpool is the thing I'd reconsider. Interior designers all over the country these days are reporting chronic disuse of giant-size whirlpools. The reason: In our time-pressed and environmentally distressed world of the '90s, those big tubs take too long to fill, use too much water and require too much synchronization from couples who're too busy to schedule a tandem soak.

Q: My bathroom, while larger than standard size, isn't big enough to handle all the features found in those new spa-style bathrooms. Since these advertised whirlpools and saunas look pretty inviting to me, I'm wondering whether there are any smaller, multipurpose fixtures that I could add as part of a planned remodeling project.A: It's hard to say what exactly your bathroom can accommodate and what it can't since I don't know its exact dimensions. Large and standard-size, like expensive and budget-priced, are relative terms.

CHICAGO - Smoking is a lightning rod for controversy, as is the question of whether workers who smoke should have to pay more for their health insurance. It's no wonder then that Whirlpool Corp. made headlines last month for suspending 39 workers who were seen smoking outside their Evansville, Ind., factory despite enrolling for insurance as nonsmokers. Whirlpool's smokers pay $500 a year more for their employer-provided health insurance - a penalty big enough to increase the likelihood of cheating - but how would the company find out?

When it comes to the art of complaining, there is a very fine line between being determined and being a pain. Lil Jungreis worried that she crossed that line after she spent two years calling Whirlpool Corp. about a defective refrigerator she purchased in October 2004. "They make like I am crazy or like I don't know what I am talking about," Jungreis said of her repeated calls for repair. "Almost from the very beginning, I thought I did something wrong. I felt so bad. I spoke to so many different people.

Maytag Corp. directors, after waiting in vain for a rival suitor to raise its bid, agreed yesterday to sell the company to longtime appliance-industry rival Whirlpool Corp. for $1.7 billion. The proposed acquisition is far from a sure thing, however. Because a Whirlpool/Maytag combination will hold a nearly 50 percent share in certain segments of the household-appliance marketplace, the acquisition is expected to face tough, protracted scrutiny from federal antitrust regulators. Yesterday's accord ends a lengthy bidding process that began in May, when an investor group led by the New York buyout firm of Ripplewood Holdings offered to buy financially struggling Maytag for $14 a share, or $1.12 billion.

CHICAGO - Maytag Corp.'s board, reversing its earlier stance, declared Whirlpool Corp.'s risky but richer $21-a-share buyout proposal to be superior to the $14-a-share bid that Maytag earlier accepted from a private investment group. The Newton, Iowa, company's move late yesterday appears to put Whirlpool's $1.7 billion bid in the lead as the fight over Maytag moves into its final stage. But Whirlpool hasn't won yet. The contest for Maytag began in May, when an investor group led by the New York leveraged-buyout group Ripplewood Holdings offered to buy the company for $14 a share, or $1.11 billion.

Whirlpool Corp., seeking to dislodge another bidder and lock up a deal, raised its buyout bid for struggling industry rival Maytag Corp. $2 yesterday to $20 a share, or $1.6 billion. In a rare and potentially costly maneuver, Whirlpool's offer also includes a promise to pay Maytag a $120 million "reverse breakup fee" if the government blocks the acquisition on antitrust grounds. The sweetened offer "reflects both the value we see in the combination of Whirlpool and Maytag and the confidence we have in the ultimate receipt of regulatory approval for the transaction," said Whirlpool Chairman and Chief Executive Officer Jeff Fettig.

Maytag Corp. has agreed to open its books to suitor Whirlpool Corp., as the two appliance-industry rivals edged closer to a possible deal. Whirlpool, of Benton Harbor, Mich., said yesterday that it entered into a confidentiality agreement with Maytag, under which Whirlpool can "immediately commence" the in-depth examination of a buyout target's nonpublic financial materials. Whirlpool has said it is willing to pay $18 a share, or about $1.43 billion, to buy Maytag, assuming a review of Maytag's finances turns up no previously unknown problems.

Maytag Corp. shares jumped yesterday after rival Whirlpool Corp. unexpectedly unveiled a $17-a-share buyout bid to become Maytag's third suitor. Despite a number of question marks that surround Whirlpool's $1.37 billion cash-and-stock proposal, investors bet that Maytag will draw an even higher bid: In New York Stock Exchange trading, Maytag shares surged $2.03, or 13 percent, to close at $17.48. Whirlpool said that if it succeeds in acquiring cash-strapped Maytag, it could strengthen the smaller company's competitive position by introducing technological innovations and economies of scale.

As any reader of the Brothers Grimm, L. Frank Baum or even J.K. Rowling can attest, the idea of a magic wand casts a powerful spell on the human imagination. Probably no sooner did our cave-dwelling forebears wield their first stick, in fact, than they began longing for even more powerful technologies to make life easier. Harried homemakers, then, may be intrigued to learn that a new type of magic wand is about to alter the way we live. Will it (gling!) turn drab footwear into red sequined pumps a la The Wizard of Oz?

Somewhere in Sweden a robot vacuum cleaner is scuttling beneath a dining table. A continent away, a Korean homeowner is using the videophone on his refrigerator. And, in Japan, technicians are teaching toilet seats to measure blood pressure. As a new generation of "smart" appliances (those that digitally store and share information) are embraced by consumers overseas, U.S. companies are pushing harder to move households out of the century of iceboxes and washboards. One of the most drastic efforts is targeted for the Playa Vista development near Marina del Rey, Calif.

You might think your oven and refrigerator work just fine. What you might not realize is that they're too dumb to keep up with the demands of your hectic lifestyle. That, at least, is the way top appliance manufacturers see it. Last week they unveiled plans for an array of "smart" devices that can cook, stock the pantry and tackle household chores with little or no help from you. Their vision is of a house filled with devices chattering silently to each other or to sites on the Internet, grabbing information about the weather or sending off an order for milk.