In Brief
[naviga:h3]Fashion retailer out of bankruptcy court [/naviga:h3]
Warrendale-based fashion retailer rue 21 has emerged from Chapter 11 bankruptcy proceedings.
The U.S. Bankruptcy Court for the Western District of Pennsylvania accepted the company's reorganization plan on Sept. 11.
The company, which operates 758 stores across the nation — including a location in Cranberry, announced it was filing for bankruptcy in March.
[naviga:h3]Bass Pro Shops acquires Cabela's[/naviga:h3]
OMAHA, Neb. — Bass Pro Shops' roughly $4 billion acquisition of rival outdoor retailer Cabela's is complete, but the small western Nebraska town that has been home to Cabela's is still wondering about its future.
Monday's closing announcement didn't address how many of the roughly 2,000 Cabela's jobs will remain in Sidney, Neb.
Bass Pro has said it expects to keep some operations in Sidney, but redundant headquarters jobs will likely be consolidated in Bass Pro's hometown of Springfield, Mo.
[naviga:h3]Treasury bills mixed at weekly auction[/naviga:h3]
WASHINGTON — Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on three-month bills rising to their highest level since July while rates on six-month bills dipped.
The Treasury Department auctioned $42 billion in three-month bills at a discount rate of 1.050 percent, up from 1.045 percent last week. Another $36 billion in six-month bills was auctioned at a discount rate of 1.170 percent, down from 1.180 percent last week.
The three-month rate was the highest since those bills averaged 1.070 percent on July 31. The six-month rate was the lowest since those bills averaged 1.140 percent two weeks ago on Sept. 11.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,973.46 while a six-month bill sold for $9,940.85. That would equal an annualized rate of 1.067 percent for the three-month bills and 1.193 percent for the six-month bills.
