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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Short Reports

From Staff

Whirlpool Corp. plans to slash up to 10 percent of its work force as it looks to cut costs amid weakening demand, higher materials costs and increased price competition.

Strong sales of yogurt and snacks helped General Mills Inc. boost second-quarter earnings by 5 percent, despite a 2 percent decline in shipments of Big G cereals.

MasterCard International Inc. announced Wednesday it will begin issuing smart cards in the United States, joining American Express and Visa in trying to popularize the credit cards that have imbedded programmable computer chips.

The Procter & Gamble Co. has agreed to buy Cleveland-based Dr. Johns Products Ltd., which makes a battery-powered toothbrush priced to compete with manual brushes. Terms of the deal announced Wednesday were not disclosed.

Growth in loans helped propel Pend Oreille Bank to record earnings. Earnings for the first nine months totaled $453,708, a 30 percent gain from the same period last year. Loans also grew by 30 percent, to $49.2 million. Pend Oreille Bank is owned by Pend Oreille Bancorp, which operates in Sandpoint and Newport, Wash.