Stress management

... Hartmarx reinvention hurts profits Chicago Sun-Times - Business Home email article Autos Reviews & more Homes Homelife news Careers News & advice Subscribe Customer service Yellow Pages Local search Business Today's business Archive Appointments Calendar Currency Futures Personal finance Portfolio Real Estate Stock market Tax guide Technology Columnists Casual Friday Feder Herman Knowles Krauss Lazare Pincus Roeder Savage RSS feeds Business Hartmarx reinvention hurts profits March 31, 2006BY SANDRA GUY Business Reporter Hartmarx Corp., maker of the conservative Hart Schaffner Marx men's suits, disappointed Wall Street on Thursday by reporting a 39 percent drop in first-quarter profit, due to investments in new stores, marketing and apparel designs.

Shares of the company, a 115-year-old Chicago institution, fell 88 cents, or 8.9 percent, to $9.

The stock had initially tumbled 13.4 percent in morning trading.

Hartmarx CEO Homi Patel told the Sun-Times he still expects the company to meet its forecast for 12 percent to 20 percent earnings growth in fiscal 2006 on a 3 to 5 percent revenue increase.

"Our second half [of the fiscal year] is always stronger than the first," Patel said.

"We stress that we should be judged on an annual basis, rather than quarter by quarter." The company spent more than ...

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... Chicago Tribune Subscribers: Get the Advantage Search: chicagotribune.com Business Sale of finance arm would help GM Dow Jones Newswires Published March 31, 2006 Investors are bracing for news on General Motor Corp.'s efforts to sell its finance arm, General Motors Acceptance Corp., a crucial element in the automaker's turnaround strategy.

The Wall Street Journal reported Thursday that GM was getting close to a deal to sell a majority stake in GMAC to an investor group led by Cerberus Capital Management.

The newspaper cited as sources people familiar with the matter.

A transaction would be a milestone for GM, which would be giving up control of the 87-year-old unit at a time when it faces enormous financial stress.

Earlier this week, GM said in its annual 10-K filing with the Securities and Exchange...