to open in Utah
Two LongHorn Steakhouses will open in Utah this December. The restaurants, being built by R&O Construction, are at 3650 Wall Avenue in Ogden and 11346 S. River Heights in South Jordan. They are owned by Darden Restaurants, which also operates Red Lobsters, Olive Gardens and others.
Gas inches up
The rise in California gasoline prices has slowed but the cost still inched up to another record Tuesday, even as officials hope allowing refineries to produce winter blends early will help ease the sticker shock. The average price for regular gas was $4.67 a gallon, according to the AAA. The price was the highest in the nation.
Black & Decker to
sell hardware unit
Toolmaker Stanley Black & Decker is selling its hardware and home-improvement business to Spectrum Brands for $1.4 billion in cash. The unit makes locksets, hardware and faucets for residential use and includes brands such as Pfister, Baldwin and Kwikset. Spectrum's brands includes the Rayovac, Remington and Toastmaster.
Ex-GE CEO Welch
to leave Fortune
Jack Welch, the former CEO of General Electric, will stop contributing articles to Fortune after backlash to his Twitter post suggesting President Barack Obama's team manipulated unemployment data to give the president a boost. Welch sent an e-mail to Fortune saying he and his wife, Suzy, would no longer contribute material, according to the magazine's website.
More small-business owners are growing pessimistic. A survey by the National Federation of Independent Business shows that owners are becoming more pessimistic as sales remain weak. The NFIB's index of owner optimism fell 0.1 point, to 92.8. More than a fifth of the survey's participants say weak sales remain their biggest concern.
$143M Q3 loss
Aluminum manufacturer Alcoa lost $143 million in the third quarter because of charges, but otherwise topped Wall Street's expectations. The loss amounted to 13 cents per share. That compares with net income of $172 million, or 15 cents a share, a year ago. Excluding $175 million in charges, Alcoa earned $32 million, or 3 cents per share. Revenue fell to $5.83 billion.