The Kansas City Star from Kansas City, Missouri • 83

DOW JONES: 4402 SAP: 442 NASDAQ: 414 10-YEAR T-NOIE YIELD: 418 SECTION BUSINESS THE KANSAS CITY STAR wwwkansascitycom Friday September 23 2005 THREAT OF HURRICANE RITA FORCES SHUTDOWNS BARRERA URGES COMMUNITY SUPPORT Refineiy capacity takes a dive Wholesale gasoline prices in Midwest nudge upward Wholesale oasoKne Midwest wholesale prices cents per gallon 280 260 240 1 By STEVE EVERLY The Kama! City Star Nearly a quarter of the refinery capacity was shutting down Thursday in preparation for Hurricane Rita according to the Department of Energy Five percent of the capacity was already down because of damage caused by Hurricane Katrina But an additional 22 percent of capacity is down at least temporarily as refineries in the path of Explorer Pipeline which delivers fuel to the Midwest stopped operations so its employees in the Houston area could be evacuated Such developments would normally roil wholesale gasoline markets But wholesale prices in the Midwest according to Bloomberg Business News were up only 4 Hurricane Rita ceased operations and released their employees In total capacity capable of producing 5 million barrels a day of petroleum products including 25 million barrels of gasoline is not available could send prices higher but for how long will depend on how long it will take them to get running said Douglas MacIntyre an analyst for the federal Energy information Administration If the refineries that suspended operations this week are down for just four days that would mean 10 million barrels of gasoline 420 million gallons that would be off the market In addition there were reports that some pipelines were preparing for the hurricane by closing or scaling back operations an tec DAVID PULLIAM The Kansas City Star Michael Barrera president of the US Hispanic Chamber of Commerce spoke Thursday in Kansas City Official touts clout of Latino businesses Sbpt 22 2004 Sept 22 2006 Source: Bloomberg News The Kansu City Star See REFINERY C-5 $24 BILLION GAIN IN NEW ESTIMATE RISING IN THE EAST By JENNIFER MANN The Kansas City Star Backers to unveil $340 million downtown redevelopment plan merger savings CEO hails benefits in Nextel alliance By JASON GERTZEN The Kansas City Star In 2002 the 16 million Latino businesses in the United States generated $2265 billion in revenues and by 2009 Latino purchasing power is expected to reach $11 trillion Despite those impressive figures said Michael Barrera president of the US Hispanic Chamber of Commerce there are myriad ways that Latinos can help one another still more Barrera told the 200 people attending the National Association for Latino Community Asset Builders conference held Thursday at Ewing Marion Kauffman Foundation Conference Center that they could for example make a decision to do business with one another For instance said Barrera a former Kansas City resident and area lawyer studies show that a dollar spent in Asian and Jewish communities changes hands in those communities eight to 10 times before leaving In the Hispanic community he said a dollar changes hands only twice before leaving Barrera cited as an example a time when he was practicing law in Kansas City A Hispanic group came to him with an idea and said that because he was Hispanic he should support their effort said fine your attorney?" Barrera said hdve to be me but the point was that we need to support one There are 41 million Hispanics in the United States representing 14 percent of the population Fifty percent of those 41 million are under the age of 27 presents tremendous Barrera said need to identify these youths and present them with opportunities and start training them now for success in the future mm Proposed East Village redevelopment Rosemann Associates Apartmantsconrfo I T-nh-w Nrw parking structurs By KEVIN COLLISON The Kinds City Star d-' i kgjy a liG Merger-related savings for Sprint Nextel Corp will be about $24 billion more than promised though the company slipped a bit in the competition for new wireless customers Sprint executives on Thursday boosted estimates from roughly $12 billion to about $145 billion in savings that will come from job cuts lower network upgrade costs and other benefits of combining the former Sprint Corp and Nextel Communications Inc are off to a great Gary Forsee president and chief executive officer Shareholders told Wall of Nextel Part-Street analy- ners Inc will sts during a vote Oct 24 on presentation in New York Sprint and force the pur-Nextel offi- chase of the dally com- company by bineid in a Sprint Nextel $388 billion Story C-2 purchase Aug 12 and launched a sales campaign just weeks later Financial benefits from the Sprint Nextel transaction are on pace to total $16 billion over the next few years Forsee said at a communications conference organized by Goldman Sadia Global Investment Research Sprint is now forecasting savings of $145 billion however because the company increased spending plans for expanding and improving its network Sprint has yet to say how many or when employees will be affected as the quest for savings starts inducting job cuts In aU Sprint now employs about 80000 with about 16000 of those workers in the Kansas City area Executives are still analyzing how many workers various business units will need to pursue the growth aspirations said Jennifer Bosshardt a Sprint spokeswoman are close to identifying an overall head count reduction goal for the new com- ti 9th St 'll sfiipi mi first glance $340 million East Village redevelopment plan 12 blocks on east side of downtown U83 housing units 87200 square feet of retail 213000 square feet of office space A new headquarters for JE Dunn Construction Co Proposed JE Dunn coprorate I headquarters I See BARRERA C-5 i )M An ambitious proposal to transform a dreary 12-block section of downtown's east side into a cozy neighborhood anchored by corporate offices is expected to begin in earnest today Backers of the $340 million East Village redevelopment plan are scheduled to make their opening pitch to the Planned Industrial Expansion Authority a city agency that controls property tax incentives and other development tools vital to the realization If successful an underused swath of surface parking lots and scattered buildings northeast of City Hall will be redeveloped into a project with 1183 housing units 87200 square feet of retail and 213000 square feet of office space that backers hope will house a new headquarters for )JL Dunn Construction Co do you get an opportunity to have such a tremendous impact on a said Brian Gorecki project manager with Minneapolis-based Sherman Associates a nationally known urban redevelopment firm have an opportunity to create a dynamic Sherman Associates is part of a team East ViBage LLC which includes Swope Community Builders and Twelfth jOtni Heritage uevetopment Loipt INSIDE i flSSBs ms More than 200000 people have lost their jofarbecause of Hurricane Katrina C-2 Min Kao of GarminLtdis among local residents on list of richest Americans C-2 is launching its updated look locally at its new North-laadrestaurant C-3 13th St See CITY C-5 Hie Kansas aty Star See SPRINT C-2 THE M0RNIN6 NEMO from 532 percent One-year adjustable-rate mortgages rose to 448 percent from 446 percent There rates do not indude add-on fees known as points which averaged between 06 percent and 07 percent The Associated Press No Missouri sites were added this year The Flint Hills byway passes through the Talgass Prairie National Preserve the last large remnant of untouched prairie in Natth America The Wetlands and 1 life byway encompasses toatatts and lacked creativity and vision for a world in which consumer electronics companies are being forced to adapt nimbly to hMHng information and enter-tainment cod sumption patterns brought on ay me hiwubi Job cabal Delta A mere eight days after filing for bankruptcy protection Delta Air Upas Inc signaled Thursday that it wanted to move quickly to reduce costs The nation's third-biagest airline announced that it would eliminate That lumpen without pain for many employees who stuck with the carrier through nearly $10 billion in tosses and earlier rounds of cuts that have shed 24000 jobs since 2001 The job cuts announced Thursday which will be phased in over more than a year represent 17 percent of the work force at fiaphip operation The Associated Pros 11 of 65 manufacturing plants and shrinking or eliminating 15 unprofitable electronics operations by the same deadline Sony refused to say what thoae businesses were The Associated tress Hortgage rates ibt Mortgage giant Ftedttte Mac reported Thursday that the nationwide avenge for rates on 30-year find-rate mortgagee tore this week to 540 percent up from 574 percent bat week It was the eecand consecutive weekly Incwiua and pinfeed die 30-year rate to to bull which are prime bird-v A third Kansas route the Rock Scenic Byway along 232 between tfa Wlson and Lucas Those analysts did not however deny die need for coat cum which inrkiiwt Mridg nywo joba or about 6 percent of 0obto node force by the end of March and cut domestic capacity while addfag more international flights The changes were not a surprise butthe meed in putting them forth mm add airline analyst Ray Nddl at Caban Sacnritfca ahows feat determined to trend aidtoe Nddl In ceremonies Thursday US of Transportation Nor-announced that die and the were naong 45 routes added Sony Gap's Howard Stringer promised a dedshe turnaround Thursday centered on cutting Jobs dodtq phots mat I shedding improbable buMureres But many analysts said his plan ion 1 537 parent up.