Protection One Parent May Jettison Stake

Utility company Western Resources Inc. said it may spin off all or part of its 85% stake in Culver City-based Protection One Inc. because losses at the security-alarm company are hurting Western’s results. Topeka, Kan.-based Western said it is considering several options for troubled Protection One, including seeking new sources of debt or equity financing. Western Chief Executive David Wittig said he believes that Protection One’s managers eventually will produce profit. The news was announced after markets closed. Western shares fell 31 cents to close at $21.38 and Protection One closed up 19 cents at $4, both on the New York Stock Exchange.