Amway building new herb processing plant

Amway will break ground on a $38 million herb processing plant Wednesday, according to the Wenatchee World newspaper.

The 48,000-square-foot plant is scheduled to be completed by 2014. The company will hire about 30 people to start. Expansion plans on adjacent land could create another 50 jobs.

The plant will process medicinal herbs and teas grown by Trout Lake Farm, an organic operation near Ephrata, Wash.

The processed herbs and teas are used in Amway’s NutriLite vitamins and dietary supplements.

Best Buy founder gets OK to look at books

NEW YORK – Best Buy Co. Inc. and its founder and former chairman Richard Schulze say they have an agreement that will allow Schulze to pursue his plan to try to buy the nation’s largest consumer electronics chain.

The news sent Best Buy shares up 3.2 percent to close at $17.87 Monday.

Best Buy said the agreement will allow Schulze to get access to confidential financial statements and allow him to form an investment group with private equity sponsors to make the bid. He already owns 20 percent of the company’s stock.

<h3>Ask.com parent buying Times’ About.com

NEW YORK – The New York Times Co. is selling its troubled online information service, About.com, to the parent company of Ask.com for $300 million in cash.

That offer trumped a $270 million bid from Answers.com that was reported three weeks ago.

Times’ stock fell 11 cents to close at $9.11 Monday. The shares are close to the 52-week high of $9.57 hit last week.

Ex-Boeing workers lose bid for age bias suit

WICHITA, Kan. – A federal appeals court ruled Monday that former employees of The Boeing Co. failed to demonstrate a pattern of age discrimination in the wake of the 2005 sale of its commercial aircraft business in Kansas and Oklahoma.

Ninety former Boeing workers sued in December 2005 claiming they lost their jobs because of their age when the Chicago-based aerospace manufacturer sold operations in Wichita, Tulsa, Okla., and McAlester, Okla., to Onex Corp.

Onex formed Wichita-based Spirit AeroSystems to handle the business.

Their lawsuit was granted conditional class-action status in 2006 under the Age Discrimination in Employment Act.

The 10th U.S. Circuit Court of Appeals agreed Monday with the 2010 decision of U.S. District Judge Eric Melgren, summarily siding in favor of the aerospace giants. Melgren found there was too little evidence to put the case before a jury.

ADVERTISEMENT