BUSINESS NEWS FOR TUESDAY, OCTOBER 8, 2002
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Bush takes step to end port lockout
WASHINGTON - President Bush will seek an 80-day cooling-off period that would reopen West Coast ports crippled by a labor dispute, marking the first effort in a quarter-century to end a work stoppage under the Taft-Hartley Act.
• Taft-Hartley invoked
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Tristate feeling lockout's ripples
Ripples from the dock lockout continued to buffet the Tristate on Monday, with companies worried about how long the labor impasse might continue and how its effects could grow stronger.
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What's the buzz?
List free drinks on overseas flights as yet another casualty of the continuing struggles in the airline industry.
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Smaller Webcasters may get song reprieve
Smaller Internet music broadcasters would owe thousands of dollars less in copyright royalty payments under rate revisions the U.S. House unanimously approved Monday.
Former WorldCom exec pleads guilty
NEW YORK - A former WorldCom executive pleaded guilty to securities fraud and conspiracy, saying he acted on orders from his superiors, and agreed to cooperate in the probe of the largest corporate accounting fraud in U.S. history.
Cricket farm hopping to keep pet stores going
VISALIA, Calif. - As Jon Bassett sticks his hand in a 2-foot-by-4-foot bin filled with 100,000 chirping brown-and-white crickets, dozens bounce off his arm, elbow and hand.
Japan to delay limits on bank deposits
TOKYO - Prime Minister Junichiro Koizumi said his government will delay putting a limit on the guarantee for bank deposits for another two years so Japanese bankers can have more financial flexibility as they tackle bad loan disposals.
Business Digest
CHICAGO - Sears, Roebuck and Co. said that the credit-card business that provides a majority of its profit is taking a hit from the worsening economy and will cause third-quarter results to fall short of expectations.
Business Summary
C. Phillip Combs, a retired GE Aircraft Engines executive, has been named president and CEO of Belcan Corp.
P&G auditors keep tabs on firm's finances
Even before Enron Corp. sprang into the nation's consciousness late last year, Procter & Gamble Co. had tightened its internal audit controls with a program called “Financial Stewardship.”
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Latest P&G innovation is, well, innovation
The latest innovation from Procter & Gamble Co.'s board should increase the company's innovations. P&G's directors this year formed an innovation and technology committee, headed by Duke University Health System president Ralph Snyderman.
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Erpenbeck archive
A. William Erpenbeck spent years building a company that appears to be crumbling. One of the Tristate's biggest home builders, the Erpenbeck Co., is under federal investigation for a suspected bank fraud that is affecting lenders, subcontractors and home owners. Click here for links to all Enquirer reports.
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