Away From the Pack
Date: 25 July 2001
By Alex S. Jones
Alex Jones
Alex S Jones Op-Ed comment on news coverage of Chandra Levy disappearance case in Washington observes that television organizations yearn to distinguish themselves from the pack but also panic at prospect of being truly different; applauds Dan Rather of CBS for refusing to follow events obsessively on his nightly news program (S)
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World Business Briefing | Europe: Britain: Reuters Net Falls
Date: 25 July 2001
By Suzanne Kapner (NYT)
Suzanne NYT
Reuters Group's first-half profit fell 21 percent, to 269 million pounds ($381 million); company will cut 1,340 jobs, or about 7 percent of work force (S)
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AMERICAN AIRLINES TO OPEN TALKS WITH PILOTS
Date: 24 July 2001
By Bloomberg News
Bloomberg News
American Airlines and the union for its 11,500 pilots plan to open contract negotiations formally today by exchanging initial proposals. The talks follow agreements that American, which is a unit of the AMR Corporation and is the largest airline company in the nation, reached with flight attendants and mechanics. The flight attendants still must vote on their tentative contract. The Allied Pilots Association approved a five-year agreement after the last contract negotiations in 1997.
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SARA LEE'S ACQUISITION OF EARTHGRAINS IS APPROVED
Date: 24 July 2001
By Bloomberg News
Bloomberg News
The Sara Lee Corporation's $2.8 billion acquisition of the Earthgrains Company was cleared by federal regulators. Sara Lee's tender offer of $40.25 for each Earthgrains share will expire at midnight on July 31. The transaction will make Sara Lee, the nation's biggest maker of frozen pies and cakes, the nation's second-largest bread company.
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EXXON MISSES FORECAST; CHEVRON TOPS IT
Date: 25 July 2001
By Bloomberg News
Bloomberg News
Exxon Mobil reports net income of $4.46 billion in second quarter compared with $4.53 billion year earlier; Chevron reports 18 percent increase in profits; net income rose to $1.32 billion compared with $1.12 billion year ago (S)
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FORD TO EXPAND PICKUP TRUCK PLANT IN VIRGINIA
Date: 24 July 2001
By Bloomberg News
Bloomberg News
The Ford Motor Company will invest about $375 million in the next three years and add as many as 200 jobs as it expands a plant in Norfolk, Va., that produces the F-150 pickup truck. The expansion project includes a new 350,000-square-foot body shop, Ford said. The plant, which opened in 1925, has about 2,300 workers and built about 240,000 F-Series pickups last year.
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AMERICAN ELECTRIC POWER BUYING 1,200 BARGES
Date: 24 July 2001
By Bloomberg News
Bloomberg News
The American Electric Power Company said yesterday that it had agreed to buy 1,200 barges and 30 towboats from Progress Energy Inc. for $270 million, tripling the size of its inland shipping fleet and enlarging its territory. The barges can handle coal, ore, grain or other dry-bulk commodities, said Pat Hemlepp, an American Electric spokesman. The transaction is expected to close in 60 days, immediately adding to earnings, he said. American Electric is buying Memco Barge Line, a St. Louis-based unit of Progress, which is based in Raleigh, N.C. Memco operates on the Mississippi River and its tributaries in Tennessee and Alabama, and along the Gulf of Mexico, Mr. Hemlepp said. Before the acquisition, American Electric owned 605 barges and 15 towboats on the Ohio River.
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GE CAPITAL TO ACQUIRE DANISH CREDIT CARD BUSINESS
Date: 24 July 2001
By Bloomberg News
Bloomberg News
GE Capital, the largest nonbank finance company and a unit of the General Electric Company, plans to buy the Danish credit card unit of Gjensidige Nor Sparebank of Norway for about $66.5 million. The credit card business, AcceptFinans, has a total loan portfolio of $151 million, according to GE Capital, which is based in Stamford, Conn. AcceptFinans will become part of GE Capital's Global Consumer Finance unit, which already employs about 400 people in Scandinavia, mostly in Sweden.
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IN AMAZON'S STOCK SALE TO AOL, A CLAUSE ABOUT TAKEOVER
Date: 25 July 2001
By Bloomberg News
Bloomberg News
Amazon.com agreement to sell $100 million of stock to America Online includes provision that lets AOL propose takeover of company, world's largest Internet retailer (S)
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AMERITRADE PROFITS FALL 98% AS ONLINE TRADING DECLINES
Date: 25 July 2001
By Bloomberg News
Bloomberg News
Ameritrade Holding Corp says profit fell 98 percent in fiscal third quarter, to $70,000; sales fell 26.5 percent, to $112.6 million (S)
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