Kmart enters Chapter 11 bankruptcy, putting into question its reputation, especially in comparison with competitors Wal-Mart and Target. In the wake of the filing, the
chain's top attraction, Martha Stewart, announced that she had every confidence the company would rectify its situation and said the retailer would continue to sell Martha Stewart
Everyday products. Industry pundits, however, say the company is on shaky ground and must retain its partnership with Stewart, who attracts consumers who otherwise might not shop
at Kmart.
The National Investor Rela-tions Institute (NIRI) announ-ced the results of a survey of 233 members on their use of pro forma reporting. While the SEC warns investors to be
wary of pro forma results, 57 percent of NIRI members surveyed report they use pro forma reporting. For more complete results, see http://www.niri.org/publications/alerts/EA20020117.cfm
Marketing communications firm NextPhase Strategy Inc. hires Ron P. Schwenger to launch its California office as partner and senior strategist. Schwenger brings more than 15
years of corporate and agency experience to the company and has recently worked with companies including Daewoo Motor America, Compel, Lucent, ICC, VISA and Gemplus.
