Lee meets exchange requirement — Lee Enterprises, owner of the Post-Dispatch, says it is again in compliance with the share-price minimum set by the New York Stock Exchange. The newspaper publisher, based in Davenport, Iowa, had stood to lose its listing on the NYSE if its share price had remained below $1. Lee said it has met the exchange requirement that Lee's shares remain above $1 for 30 consecutive days. Lee stock closed at $1.12 on Tuesday. The company emerged from bankruptcy on Jan. 30. Lee says the company has about a year to comply with another exchange rule requiring that its market capitalization remain above $50 million for 30 days. Lee's market cap, the value of all its shares at the current price, was $57.9 million on Tuesday.
J&J's CEO retiring — Johnson & Johnson's longtime CEO, Bill Weldon, is retiring in April, following an embarrassing string of product recalls over more than two years that has cost the health care giant hundreds of millions. The maker of Band-Aids and biotech drugs said Tuesday that Weldon will remain chairman of the board for the time being, while ceding the chief executive post to Alex Gorsky, head of the medical device and diagnostics business. The official transfer will be on April 26, the day of the company's next annual shareholders meeting. Since January 2011, Gorsky has been vice chairman of J&J's executive committee, the senior leadership team.
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