Wednesday, June 25, 2003

Business digest

From wire reports

States discuss case vs. Oracle takeover

DALLAS - Attorneys general from Texas, California and other states held a conference call Tuesday to discuss whether to oppose Oracle Corp.'s hostile takeover bid for PeopleSoft Inc. on antitrust grounds, according to two officials familiar with the situation.

During the call, state representatives discussed building a legal case against the takeover - including the potential cost to PeopleSoft customers, according to one of the officials. Both officials spoke on condition of anonymity.

Ex-investment banker seeks to move case

SAN JOSE, Calif. - Former investment banking star Frank Quattrone, who's facing obstruction of justice charges, has asked a New York judge to allow his case to be moved to San Francisco.

Defense lawyer John Keker said most of the alleged crimes occurred at Quattrone's former post in Palo Alto, where he headed technology investment banking for Credit Suisse First Boston, and that defendants have the right to be tried in the jurisdiction of the alleged wrongdoing.

New York's U.S. Attorney James Comey filed criminal charges against Quattrone last month, alleging the former banker attempted to thwart several investigations in December 2000 into how Credit Suisse handled hot initial public stock offerings.

Lakers' Bryant added to Nike fold

PORTLAND, Ore. - The San Antonio Spurs might have won the NBA championship, but they better hope Nike never forms a team.

The sneaker giant has added All-Star guard Kobe Bryant to its roster of basketball stars. The signing Monday came about a month after Nike inked sponsorship deals with LeBron James and Carmelo Anthony, two of the top three expected picks in Thursday's draft.

U.S. auto forecast remains uncertain

DETROIT - Demand for new cars and trucks remains weak in the United States despite unprecedented consumer incentives, and the outlook for next year is highly uncertain, a new report says.

In its report card for the global automotive industry released Tuesday, Standard & Poor's says sluggish demand has diminished U.S. market share for General Motors Corp. and DaimlerChrysler AG's Chrysler Group, while Ford Motor Co. has increased its share slightly.

Consumer confidence stays level
Forecasts surpassed at Kroger
PEALE: What's the Buzz?
Area bookstores reap the magic
Abercrombie settles lawsuit over dress code
N.Ky. small businesses honored
Consumers prefer to bank at branches
Tristate summary
Business digest
Morning memo