Business briefs for Jan. 22, 2004

Thursday, Jan. 22, 2004 | 11:13 a.m.

Las Vegas employees reassured about merger

About 30 Las Vegas jobs will be safe and new jobs could be on the way following the merger announcement of two U.S. technology companies.

Science & Engineering Associates Inc. of Springfield, Va., and New Orleans-based ITS Services Inc. have announced that the companies will merge. Executives were at SEA's Las Vegas office on Wednesday, ensuring employees that their jobs were said, said spokesman Mike Smith.

"There will be no job loss (in Las Vegas) whatsoever, and there is a good opportunity for expansion," he said, adding that the number of local jobs that could be added was unknown. Overall, the company, which has 900 employees nationally, plans to add 100 employees this year.

Both companies provide information technology services to the federal government. SEA's Las Vegas office works with the Department of Energy and the University of Nevada, Las Vegas.

Former chief accountant pleads innocent

HOUSTON -- Enron Corp.'s former top accountant pleaded innocent today to six federal fraud charges in an indictment that accused him of being "a principal architect" of a scheme to mislead investors in the energy company.

Richard A. Causey, 44, accompanied by a pair of attorneys, walked into the Houston offices of the FBI just before daybreak. He was later taken in handcuffs to the federal courthouse.

The indictment, charging Causey with five counts of securities fraud and one count of conspiracy to commit securities fraud, was handed up Wednesday and unsealed today after his surrender.

Henderson store to close

Officials with bankrupt Factory 2-U Stores Inc. said today they will close one of the firm's six Southern Nevada stores as part of its strategy to restructure the company.

The San Diego-based operation said in a motion in U.S. Bankruptcy Court in Wilmington, Del., that it would close its store at 862 S. Boulder Highway, one of 44 operations listed as unprofitable by the company. The company filed for voluntary bankruptcy protection last week.

Norman Plotkin, chief executive of Factory 2-U, said the company plans to refine its merchandise mix at 195 stores that would remain open. The 44 stores being closed would have their merchandise liquidated in mid-February, he said.

In a release issued today, the company did not say whether employees at the Henderson store would be offered positions at other stores. The release said employees would be paid at normal rates until the closures.

Leading indicators rise

The index of leading U.S. economic indicators rose in December for a ninth straight month, reflecting rising stock prices and fewer jobless claims.

The New York-based Conference Board's gauge of how the economy will perform over the next three to six months increased 0.2 percent after a revised 0.2 percent gain in November, the board said today.