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8th of January 2002 News
Nyheter som framträdde på New York Times framsida den 8 januari 2002
BOLDFACE NAMES
Date: 09 January 2002
By James Barron
James Barron
New York State Supreme Court Justice Judith J Gische rules that Rudolph Giuliani's book contract, with $2.7 million advance, is not marital asset that he will have to share with Donna Hanover because contract was negotiated after he filed for divorce; Skitch Henderson's baton case is confiscated by security personnel at Kennedy Airport; photo; Antonio Mora is leaving his job as news anchor for Good Morning America to be anchor at CBS station in Chicago; chef Alain Ducasse is shown on giant screen in Times Square as he prepares meal at kitchen in Conde Nast Building; Justin Sebik is charged with assaulting his girlfriend in Bayonne, NJ (M)
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BOLDFACE NAMES
Date: 08 January 2002
By James Barron With Glenn Collins, Jennifer Steinhauer and Linda Lee
James With
CNN pulls commercial about Paula Zahn, news anchor, that refers to her as 'just a little sexy'; photo (S)
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National Briefing | South: Georgia: Cleric Loses Jail Privileges
Date: 08 January 2002
By David Firestone (NYT)
David NYT
Jamil Abdullah Al-Amin, Muslim cleric formerly named H Rap Brown, is found in contempt of court for discussing his capital murder trial with news media and in letter to his mosque; Judge Stephanie B Manis of Fulton County, Ga, says Amin is trying to taint jury pool; revokes certain jail privileges; photo (S)
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CONSECO EARNINGS BELOW PREDICTIONS
Date: 08 January 2002
By Bloomberg News
Bloomberg News
Conseco Inc. said its profit in 2001 failed to meet the 72 cents a share the company, involved in life insurance and finance, had predicted. Profit was hurt by a slumping economy, which led to a rise in losses on consumer loans, Mark Lubbers, executive vice president for corporate affairs, said in a statement. Conseco's announcement came days after its biggest rival in the mobile-home lending business, the GreenPoint Financial Corporation, said it would stop lending to buyers of mobile homes. GreenPoint said the business was not profitable enough.
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DYCOM INDUSTRIES TO ACQUIRE ARGUSS COMMUNICATIONS
Date: 08 January 2002
By Bloomberg News
Bloomberg News
Dycom Industries, a cable installer, plans to acquire Arguss Communications Inc. for about $84 million in stock to add telecommunication system services. Dycom will pay $83.7 million in stock, or 0.3333 share, for each share of Arguss, the company said. Based on Friday's closing stock prices, the deal is worth $5.77 a share for Arguss stockholders, a 30.5 percent premium to Arguss's price. Dycom, which is based in Palm Beach Gardens, Fla., will also assume $65 million of debt. Arguss Communications, based in Rockville, Md., provides system services to telecommunications and cable companies. It said in November that it had eliminated 500 jobs since last year.
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ARCHER DANIELS PATENTS HEALTH SUPPLEMENT PROCESS
Date: 09 January 2002
By Bloomberg News
Bloomberg News
The Archer Daniels Midland Company, a grain processor, says it has received a patent on a technique for making health-food supplement ingredients from soybeans and flaxseed. The patent covers a method for isolating chemicals that promote cardiovascular and prostate health, the company said. Archer Daniels is based in Decatur, Ill.
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TITAN TO BUY GLOBALNET TO EXPAND IN LATIN AMERICA
Date: 08 January 2002
By Bloomberg News
Bloomberg News
The Titan Corporation, a satellite communications and information-technology company, agreed to buy GlobalNet Inc. for $35 million in cash and stock to expand its wireless business in Latin America. The purchase, which is expected to close this quarter, will add $70 million to $75 million to the 2002 revenue of Titan, based in San Diego, and add to earnings this year, the company said. GlobalNet, which is based in Lombard, Ill., will become part of Titan's wireless unit, which provides communications services in developing markets in Africa and central Asia. GlobalNet provides voice, data, and Internet services in the United States and Latin America.
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CLOROX SAYS IT WILL MEET ITS PROFIT FORECAST
Date: 08 January 2002
By Bloomberg News
Bloomberg News
The Clorox Company, the maker of Glad bags and Kingsford charcoal, said it would meet its annual profit forecast. Clorox expects earnings before charges of $1.82 to $1.87 a share this fiscal year, the company said. The average estimate of analysts polled by Thomson Financial/First Call is $1.84. A year earlier, Clorox earned $1.63 before special charges. Clorox, the nation's leading maker of household bleach, said an expected 1 percent sales decline because of the devaluation of the Argentine peso would be offset by cost savings, including the elimination of 585 jobs. Clorox gets 3 percent of its sales in Argentina, said a spokeswoman, Kathryn Caulfield.
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BORGWARNER TO WRITE OFF $19 MILLION FOR ACQUISITIONS
Date: 08 January 2002
By Bloomberg News
Bloomberg News
BorgWarner Inc., a leading maker of automatic-transmission parts, expects costs of about $19 million in the fourth quarter to write off the value of assets and other expenses. Excluding the cost of 72 cents a share for the write-offs, the company will earn $3.10 to $3.20 in 2001, a spokeswoman, Mary Brevard, said. Analysts surveyed by by Thomson Financial/First Call had forecast BorgWarner would earn $3.15 a share. The costs are mostly related to businesses BorgWarner bought the last few years to broaden its product range. BorgWarner is writing off environmental costs and expenses to combine headquarters of three units at a site in Auburn Hills, Mich.
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UNIROYAL TECHNOLOGY TO CUT 90 JOBS AND FREEZE PAY
Date: 08 January 2002
By Bloomberg News
Bloomberg News
The Uniroyal Technology Corporation, a maker of light-emitting diode display products whose shares had fallen 60 percent this month, said it planned to cut 90 jobs, freeze salaries and reduce the pay of top executives. The cuts are expected to save the company $7.5 million a year. Bonuses were eliminated in 2001 and its coated fabrics business is for sale, the company said. Uniroyal, based in Sarasota, Fla., has lost money in each of its last three fiscal years as it sought to make the transition from making chemicals and plastics.
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FIRST BOSTON HIRES ANOTHER MORGAN STANLEY EXECUTIVE
Date: 09 January 2002
By Bloomberg News
Bloomberg News
Credit Suisse First Boston has named Eileen Murray of Morgan Stanley Dean Witter & Company to be head of global technology and operations, in the second major hiring from his old firm made by John Mack, the chief executive. Ms. Murray spent 18 years at Morgan Stanley, most recently as chief administrative officer for the institutional securities group. At Credit Suisse First Boston, she will be a managing director.
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LEAR TO CLOSE 4 PLANTS AND CUT 1,200 JOBS
Date: 08 January 2002
By Bloomberg News
Bloomberg News
The Lear Corporation, a leading maker of automobile interiors and seats, plans to eliminate about 1,200 jobs and close four plants to consolidate production. The company will shut plants in June or July in Marlette, Mich.; Bowling Green, Ohio; Peru, Ind.; and Wentzville, Mo., a spokeswoman, Andrea Puchalsky, said. An undetermined number of workers will be able to apply for other jobs. The cuts represent 1 percent of Lear's work force of 116,900. Lear said in October that it would eliminate an unspecified number of jobs and close under-used plants and offices at its seating, interior and electrical businesses, moves it expected would result in as much as $150 million in fourth-quarter costs. Lear is based in Southfield, Mich.
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