Philip Morris Plant in Concord to End Cigarette Making

CONCORD — The parent of the Philip Morris cigarette companies said Tuesday that it will close its Concord cigarette plant by 2010, eliminating 2,500 jobs.

The move by Altria Group is designed to move cigarette production for non-U.S. markets to Europe. Cigarette manufacturing for the U.S. market will be consolidated in Richmond, Va.

Most North Carolina-based hourly employees and many salaried employees will be offered positions in Richmond, Altria said.

Others will be eligible for between three and 20 months of severance pay and benefits, depending on length of service, plus outplacement counseling.

The company said it expects cost savings of about $335 million by 2011, of which $179 million will be realized by Philip Morris International and $156 million by Philip Morris USA.

Dell hopes stodgy image ends with hued laptops

DALLAS — Flamingo pink laptops, anyone?

Computer maker Dell is hoping its image as a stodgy maker of computers is about to end, and it’s banking on some new color options and designs to do the trick.

In what Round Rock-based Dell says is a first wave of changes intended to turn around its lagging consumer business, the company on Tuesday unveiled a line of consumer computer products in a rainbow of eight hues, including “ruby red,”"sunshine yellow” and “espresso brown.”

Another up-and-down day leaves investors drifting

NEW YORK — Wall Street finished an erratic session with a modest decline Tuesday as investors parsed unimpressive data on home sales and consumer confidence.

The Dow Jones industrial average initially slipped, soared nearly 100 points and ultimately pulled back again — much as it did Monday when the blue chip index rose by triple digits only to give up the gains and finish lower.

— Wire Reports

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