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Business news Court finds Pledge of Allegiance unconstituional
By Robert Marus ABP Washington Bureau WASHINGTON (ABP)—Once again, a federal court in California has found the recitation of the Pledge of Allegiance in public schools unconstitutional because the oath affirms that the United States is “under God.” U.S. District Judge Lawrence Karlton, ruling in Sacramento Sept. 14, said three Sacramento County school districts’ policies encouraging recitation of the pledge violates the First ... Election Overhaul Is Urged
Politicians should give up voting oversight to nonpartisan pros, a bipartisan panel says. By James Gerstenzang Times Staff Writer September 19, 2005 WASHINGTON — In a report to be presented today to President Bush and congressional leaders, former President Carter and former Secretary of State James A. Baker III are recommending a widespread overhaul of election practices to make it easier for Americans to vote and to guarantee that their ... Who's next?
With Roberts' nomination for chief justice on track, attention now turns to filling Justice O'Connor's seat and the names on President Bush's short list By Margaret Talev -- Bee Washington Bureau Published 2:15 am PDT Monday, September 19, 2005 Story appeared on Page A1 of The Bee WASHINGTON - Now that John Roberts has sailed through his confirmation hearings, the White House, Congress and ideological activists are shifting focus to a second opening on the ... Share of oil and gas companies surge
SEP. 19 2:53 P.M. ET Shares of independent oil and gas companies surged Monday as a new storm brewing in the Bahamas raised the specter of more energy-supply disruptions and much higher commodity prices as a result. The industry's rally also followed news earlier Monday that Norwegian petroleum and aluminum producer Norsk Hydro ASA agreed to pay a hefty premium for Spinnaker Exploration Co., an exploration company based in Houston. Independent oil and gas company ... Share of oil and gas companies surge
SEP. 19 2:53 P.M. ET Shares of independent oil and gas companies surged Monday as a new storm brewing in the Bahamas raised the specter of more energy-supply disruptions and much higher commodity prices as a result. The industry's rally also followed news earlier Monday that Norwegian petroleum and aluminum producer Norsk Hydro ASA agreed to pay a hefty premium for Spinnaker Exploration Co., an exploration company based in Houston. Independent oil and gas company ... Hewlett-Packard buys Peregrine
PALO ALTO, CA, United States (UPI) -- California-based Hewlett-Packard Co. will pay $425 million in cash to buy software maker Peregrine Systems Inc., ZDNet said Monday. The deal, which must be approved by shareholders of Peregrine, headquartered in San Diego, Calif., is expected to close in the first quarter of 2006. HP plans to integrate Peregrine`s product line with its OpenView suite, which is designed to monitor business computing systems and keep them running ... [url=http://www.retirement-retirement.com]Homepage[/url]
Sep 19, 2005, 15:20 GMT BRUSSELS, Belgium (UPI) -- The European Union`s top trade official says the EU will only ease its farm subsidies if others, particularly the United States, do likewise. Trade Commissioner Peter Mandelson said trade talks in December could include decreases in agricultural subsidies -- but only if other nations cut farm subsidies, the BBC reported Monday. His remarks were widely seen as applying to the United States. World ... SAP Buys Triversity
The German business software giant acquires Canadian retail point-of-sale systems provider. September 19, 2005 SAP said on Monday that it was acquiring Triversity, a privately held maker of point-of-sale software systems, for an undisclosed sum, to build its retail capabilities. SAP plans to add Triversity’s software to its SAP for Retail system, enabling the company to challenge its rival Oracle, which has also been enhancing its retail ... I would be happy to discuss your opportunity and my qualifications in detail.
BRUSSELS, SEPT 19: The EU’s trade chief, trying to get member countries behind him for global talks, said Europe could not hide from free trade, but he pledged to heed the concerns of farmers and business about a more competitive world. Peter Mandelson said there was an urgent need for consensus over trade reform among the European Union’s (EU) 25 members who only recently were split on how to cope with a surge in Chinese textile imports. “Europe cannot hide away from what is happening ... Terror insurance guarantee on hold
Insurers worry that renewal of TRIA, the federal insurance backstop, could be delayed by Katrina. NEW YORK (CNN/Money) - As Congress recessed in late July, the insurance industry was confident that upon its return, a hearing would be set to renew the $100 billion safety net the industry wants the U.S. Government to pledge in the event of a costly terrorist attack. Then came Hurricane Katrina. And now with only 103 days left before that federal backstop ... Microsoft goes after small business
New software aimed at making headway through capturing $10 billion share of fragmented market. SEATTLE (Reuters) - Microsoft Corp. introduced a line of software products for mid-sized businesses Wednesday using technology it acquired as part of its strategy to sell more software to companies with fewer than 500 employees. The world's largest software maker, which is making a major marketing push for its business software to customers at its Redmond, Wash., ... Small businesses: still optimistic
Survey shows businesses upbeat despite Hurricane Katrina; loans at highest level since 1989. WASHINGTON (Reuters) - U.S. small businesses continued to display optimism about the economy in August, as they increased capital spending and hired more employees, a survey released on Tuesday showed. The National Federation of Independent Business said its small business optimism index was virtually unchanged last month, down 0.2 points to 100.9, from 101.1 in July. Katrina may have devoured sugar crop
And a key refinery remains shut, further complicating things for Louisiana's cane farmers. NEW YORK (Reuters) - Louisiana's sugar growers may have suffered substantial damage from Hurricane Katrina and might have to refine their cane elsewhere because a key refinery remains shut, officials said Friday. Windell Jackson, senior agronomist for the American Sugar Cane League, which represents 95 percent of cane growers in Louisiana, told Reuters by phone that the storm ... [url=http://www.retirement-retirement.com]Homepage[/url]
Preliminary survey: Unlike Hurricane Ivan, Katrina didn't do extensive damage to oil lines. WASHINGTON (Reuters) - Unlike last year's Hurricane Ivan, Katrina did not cause major damage to underwater pipelines in the Gulf of Mexico, the head of the Minerals Management Service said Friday. "There hasn't been major damage to pipelines under water," MMS Director Johnnie Burton told reporters at a briefing on damage to offshore oil and natural gas production. Economists' No. 1 fear: energy prices
High costs have replaced terrorism as top short-term threat to the U.S. economy, NABE survey says. WASHINGTON (Reuters) - Lofty energy prices have supplanted terrorism in the eyes of economists as the biggest short-term threat facing the U.S. economy, a survey released Friday showed. The National Association for Business Economics said a survey of 202 of its members found that 30 percent now view energy prices as the biggest risk to growth, up from 11 percent in its ... LBOs Achieve Wider Acceptance As Stable Firms Become Targets
These aren't your father's leveraged buyouts. Risky debt-financed buyout deals are becoming bigger, more aggressive and more commonplace, evoking comparisons with the free-wheeling deal making of 1980s Wall Street. Today's LBOs, however -- marked by the recent $11.4 billion SunGard Data Systems Inc. deal and coming multibillion-dollar buyouts of Neiman Marcus Group Inc. and Ford Motor Co.'s Hertz Corp. unit -- may usher in a new era in the risky buyout business. Many ... Schwarzenegger Confirms He Will Seek Second Term
SAN DIEGO -- Gov. Arnold Schwarzenegger confirmed an open secret Friday, telling supporters that he's running for re-election next year -- an early announcement designed to re-energize his sagging political momentum. "I'm going to follow through with this here. I'm not in there for three years. I originally got into this ... to finish the job. I'm in there for seven years," he told an enthusiastic crowd of about 200 invited guests. "Yes, I will run for governor." Mr. ... U.S.-Led Forces Gird For Vote in Afghanistan
WASHINGTON -- U.S.-led coalition forces in Afghanistan expect Taliban insurgents to continue violent efforts to disrupt Sunday's parliamentary elections, but they do not believe there will be a large, coordinated attack like those seen recently in Iraq, a U.S. commander said Friday. Amid escalating violence there that has left at least six candidates dead, Army Brig. Gen. James G. Champion, deputy commander in charge of combat operations in Afghanistan, said Friday the insurgents ... Soaring Natural-Gas Prices Point To Record-High Electricity Costs
While many consumers have focused in recent weeks on the high price of gasoline, utilities are grappling with enormous natural-gas bills that threaten to push another form of energy, electricity, to unprecedented price levels. Even before Hurricane Katrina, the price of natural gas had doubled during the past two years. The storm's destruction has roiled energy markets, sending natural-gas and oil prices to record levels and foreshadowing eventual rate increases for electricity in ... U.S. Renews Push on China's Yuan
WASHINGTON – The Bush administration is turning up the heat on Beijing to allow the Chinese yuan to rise against the dollar, reigniting an economic dispute that had appeared settled. Treasury Department officials are disappointed that China's eight-week-old promise to let the yuan move with market forces has resulted in only a tiny increase in its exchange value. They warn that Beijing is courting a backlash from U.S. lawmakers who say China's undervalued currency is robbing ... Wondering When Energy Costs Will 'Leak' Into Core Prices
Consumer prices rose 0.5% in August, but excluding volatile food and energy costs, the core inflation rate held steady at 0.1%. Economists, who weren't surprised by the numbers, weighed in on the post-Katrina inflationary effects of energy prices and what the trends might mean for the Federal Reserve's meeting on interest rates next week. Following are a handful of economists' reactions. * * * Core consumer inflation appears to have peaked after rising for most of the past 18 ... Trade Gap Eases, But Deficit Poised To Break a Record
WASHINGTON -- The broadest measure of U.S. trade showed a slight improvement this past spring, but the deficit remained massive -- $195.65 billion -- and remained on track to shatter last year's record. The current account deficit for the second quarter narrowed 1.5% from the first quarter's revised $198.67 billion gap. The current account measures trade in goods and services as well as cross-border investment income. The improvement partly reflected an increase in ... Bristol-Myers, ImClone Secure Backing for Erbitux in Canada
Bristol-Myers Squibb Co.'s Canadian unit and ImClone Systems Inc. said Health Canada approved Erbitux for treating colorectal cancer that has spread to other organs. The approval covers the use of Erbitux with a chemotherapy drug, irinotecan, for patients whose tumors are not responding to irinotecan-based chemotherapy alone. It also covers Erbitux used alone for patients who can't take irinotecan-based chemotherapy. Bristol-Myers Canada said it expects to make Erbitux ... ADM Begins Search for a CEO
Archer-Daniels-Midland Co. said it is searching for a successor to G. Allen Andreas, who took over as chief executive of the commodity-processing giant eight years ago in the wake of a price-fixing scandal that sent some officers to prison. The search coincides with the decision announced late yesterday by Paul B. Mulhollem to retire immediately as president and chief operating officer of the Decatur, Ill., company. Mr. Andreas is temporarily assuming the duties of Mr. Mulhollem, ... U.S. Pension Agency Faces Daunting Future, CBO Says
The government agency that guarantees worker pensions could see its liabilities quadruple over the next decade, jeopardizing the benefits of millions of retirees, a new report says. In a report made public Thursday, the Congressional Budget Office estimated that Pension Benefit Guaranty Corporation shortfalls will reach nearly $87 billion over the next decade, up from about $23 billion in 2004. The report also predicted that PBGC liabilities could rise to $119 billion ... MasterCard Says IPO May Raise $2.45 Billion
MasterCard Inc., in its first disclosure of details about an initial public offering of stock, said it wants to raise as much as $2.45 billion in the IPO early next year. The credit-card giant also said it expects to report a first-quarter 2006 net loss -- and possibly even a full fiscal 2006 loss -- as a result of the offering. The Purchase, N.Y., company filed its first document with the Securities and Exchange Commission outlining the basics of its 61.5 million ... Deutsche Telekom Said It Will Keep U.S. Unit
Deutsche Telekom AG said it will hold on to its U.S. wireless operation, T-Mobile USA Inc., quelling rumors that the fourth-biggest U.S. cellular carrier is up for sale. Deutsche Telekom management has long debated whether to sell T-Mobile USA, merge it with another U.S. wireless operator or keep it and continue to invest billions of dollars in its network. In 2002, the company had talks with both Cingular Wireless and AT&T Wireless Services Inc. In February 2004, ... Gazprom Announces Shortlist Of Partners
MOSCOW – Russia's Gazprom gas monopoly announced Friday that Statoil ASA and Norsk Hydro ASA of Norway, France's Total SA, and Chevron Corp. and ConocoPhillips of the U.S. made the shortlist of potential partners to develop the giant Shtokman gas field. Nearly a dozen international energy giants had signed up with Gazprom in the hope of becoming partners in the world's biggest gas producer at Shtokman, locked under the seabed of the frigid Barents Sea. Gazprom CEO ... Hollinger Agrees to Settle Lawsuits
CHICAGO -- Hollinger International Inc. said it has tentatively settled the remaining class-action lawsuits it faced as a result of inflating circulation figures at the Chicago Sun-Times and two related publications. In a news release, Hollinger said the proposed settlement in the consolidated class-action suits will provide the plaintiff class with total consideration of about $7.7 million in cash and up to $7.3 million in free advertising or discounts. It said the ... Onshore Oil Facilities Struggle
By JOHN J. FIALKA Staff Reporter of THE WALL STREET JOURNAL September 17, 2005 With considerable storm damage to onshore oil facilities along the Gulf Coast, it will likely take three to four months to reach 90% of the pre-Katrina production level, the U.S. Interior Department's Mineral Management Service said. "We've reached a plateau," said Johnnie Burton, director of the service. In a briefing yesterday, she said the storm damage to most offshore oil ... | ||
On the web: Indian business community reels after Satyam (AP via Yahoo! News)One of India's largest outsourcing companies struggled Thursday to retain an air of normalcy as the business community reeled from the news that the company chairman had been doctoring the books for years. Snow rakes help small business weather rough economic climate (CNN)One small business has found a way to dig itself out of the snowballing recession -- snow rakes. Lots of them. Police investigating shooting at Chesterfield business (St. Louis Post-Dispatch)CHESTERFIELD -- Police are on the scene of a shooting at a Chesterfield business. One woman was shot in the foot, police said. There was no immediate information about the shooter or if there were any other victims. 'It is business as usual' for Canadian lending, bank CEOs assert (The Canadian Press via Yahoo! Canada News)TORONTO - Senior Canadian bank executives say it's largely business as usual for lending by their institutions but there's no doubt the country is undergoing a credit crunch as other loan sources evaporate. 7 movies that glamorize business travel (MSNBC)Portfolio.com's Joe Brancatelli suggests you take some time to relax, fire up the flat screen in the living room and find the angles in his favorite business-travel movies of all time. Japan funds banks to drive lending to business (Financial Times)Japan is stepping up efforts to encourage banks to lend more to business amid fears that a credit crunch will worsen in the run-up to the fiscal year-end on March 31. Cleveland assembles business leaders to advise on airport operations (The Cleveland Plain Dealer)Mayor Frank Jackson has tapped the private sector for advice on how to operate the city-run Cleveland Hopkins International and Burke Lakefront airports. A dozen business leaders will sit on Jackson's strategic advisory committee. The panel will have no decision-making... Free workshop offered for small-business owners (The Indianapolis Star)The U.S. Small Business Administration will host a free small-business workshop from 2 to 3:30 p.m. Jan. 21 at the its district's office on the Far Northside of Indianapolis. Johnson & Johnson exec to head OSU business school (BizJournals)Ohio State University's Fisher College of Business has named its first dean to come directly from the private sector. Triad Business Index steadies (BizJournals)Economic activity in the Triad held steady in November, according to statistics included in UNC-Greensboro's Triad Business Index. |
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