Business in brief: S-R raising price in outlying areas
The Spokesman- Review today raises the newsstand price of the daily newspaper to $1 in areas outside the newspaper’s core market. That’s an increase of 25 cents. The Sunday price will increase 50 cents, to $2.50 a copy, in those areas.
The increases were prompted by rising regional delivery and production costs, said Shaun O’L. Higgins, director of sales and marketing. Home delivery and online edition prices will remain the same.
The newspaper’s single-copy buyers total about 8,000 on weekdays and about 13,000 on Sundays.
“Most of those sales take place in Spokane and Kootenai County, and we are happy that we can hold the line on prices for the weekday paper in those counties, as well as to home-delivered customers throughout the region,” Higgins said.
Single copy prices will not change in Spokane and Kootenai counties or in parts of Whitman and Latah counties.
In another cost-saving move, The Spokesman-Review will eliminate mail subscriptions effective July 15. About 800 newspaper subscribers, mostly businesses and libraries, receive subscriptions by mail. These subscribers will be offered alternative digital and facsimile subscription options.
Corn, soybean plantings larger
St. Louis – Farmers planted an unexpectedly large crop of corn and soybeans this year, easing some fears of rising food costs.
The U.S. Department of Agriculture said Tuesday a record 77.5 million acres of soybeans were planted through June, up 1.8 million acres from last year. Farmers also planted 87 million acres of corn, up 1 million acres from last year and the second-largest corn acreage in more than 60 years.
The unexpected boost in planting could mean crop supplies won’t be as tight this year as many analysts feared a few months ago. Lower commodity prices would be welcomed by ethanol makers and meat companies that have been stung by higher feed prices over the last two years.
Judge revokes Stanford’s bond
Houston – A federal judge on Tuesday revoked the bond of Texas financier R. Allen Stanford, ordering he be kept in jail while he awaits trial on charges alleging he swindled investors out of $7 billion.
U.S. District Judge David Hittner issued an order overturning a magistrate judge’s decision last week to allow Stanford to be free on $500,000 bond but be under GPS monitoring and home detention. Stanford has been in custody since being indicted and arrested June 18.
Stanford’s attorney, Dick DeGuerin, said he would appeal the bond decision.