BRIEFCASE DOLE TO CONSIDER MURDOCK BUYOUT.Byline: - Staff and Wire Services WESTLAKE Westlake, city (1990 pop. 27,018), Cuyahoga co., NE Ohio, a suburb of Cleveland; inc. as a city 1956. A growing city, its various manufactures include ink and plastics. VILLAGE - Dole dole, distribution to the poor, usually of food or money. In medieval times doles were usually from bequests of money or land, and the income was given to charity or distributed to the local poor at funerals. Food Co. Inc. said Friday it has formed a special committee composed of five board members to consider David Murdock's $1.26 billion acquisition proposal. Murdock, Dole's chairman and chief executive officer, offered $29.50 a share for the 76 percent stake he and his family don't hold in the Westlake Village-based company. The newly formed committee will be chaired by Richard Ferry, former chief executive officer of Korn/Ferry International. Economy better in second quarter WASHINGTON - The economic recovery lost momentum in the spring, but many analysts believe it picked up some speed in the current quarter as free-financing deals and record-low mortgage rates enticed people to buy cars and homes. The Commerce Department reported Friday that the economy grew at an annual rate of 1.3 percent in the April-June quarter. The latest reading on gross domestic product, considered the best barometer of the nation's economic health, represented a slightly stronger performance during the second quarter than the 1.1 percent growth rate previously thought. Delta expects big 3rd quarter loss ATLANTA - Delta Air Lines said its third-quarter losses will be nearly twice as much as previously expected, sending its stock tumbling along with others in the airline sector. Delta expects to lose about $350 million in the third quarter because of sluggish revenue and demand, the carrier said Friday. The loss comes to about $225 million after one-time items are excluded. The announcement came a day after Delta told employees it was cutting another 1,500 flight attendant ATTENDANT. One who owes a duty or service to another, or in some sort depends upon him. Termes de la Ley, h.t. As to attendant terms, see Powell on Morts. Index, tit. Attendant term; Park on Dower, c. 1 7. jobs, and a trade group warned the entire airline industry could lose a record $8 billion this year. Delta shares sank 24.4 percent, or $2.81 a share, to close Friday at $8.69 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Judge OKs 1 Tyco ex-exec's bond NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - A judge on Friday accepted the bail posted last week by former Tyco International For the unrelated division of Mattel, see . Tyco International Ltd. NYSE: TYC is a diversified manufacturing conglomerate incorporated in Bermuda, with United States operational headquarters in New Jersey. Ltd. chief executive L. Dennis Kozlowski Leo Dennis Kozlowski (born November 16 1946, Newark, New Jersey) is a former CEO of Tyco International, convicted of misappropriating more than $400 million of the company's funds. He is currently serving at least eight years and four months in prison. after a hearing to determine whether the money came from proceeds of alleged crimes against the company. Manhattan State Supreme Court Justice Michael Obus, however, rejected the bond secured with shares of Tyco stock posted by former chief financial officer Mark Swartz. Obus said he was satisfied that the $10 million cash posted by Kozlowski's ex-wife, Angie, on his $100 million bond was part of their divorce settlement. In Swartz's case, the judge said: ``The court is not satisfied that the stock offered here is acceptable.'' Feds OK Pennzoil sale to Shell Oil WASHINGTON - The government on Friday approved the $1.8 billion purchase by Shell Oil Co. of the Pennzoil Quaker State Quaker State may refer to:
1. Lube service stations. The deal, first announced last March, is expected to be made final by the end of the year. It is the latest merger in a trend of oil industry consolidation in recent years. The Federal Trade Commission conditioned its approval, however, on Pennzoil selling its interest in a company that makes the feed stock used in high-performance motor oil, saying the cost of such motor oil would otherwise probably increase because of the lack of competition. The companies have agreed to the required divestitures. Ford will fix police car tank shields SCOTTSDALE, Ariz. - Ford Motor Co. agreed Friday to install shields around the gas tanks on 350,000 Crown Victoria police cars across the country after at least a dozen officers were killed in fiery crashes. Ford agreed to pay for the modifications and study ways to make the cars safer after police departments said the vehicles are prone to burst into flames in high-speed, rear-end crashes. Approximately 80 percent of police cars on the road in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. are Ford Crown Victorias For the Police Interceptor version used by law enforcement, see Ford Crown Victoria Police Interceptor. For the 1979–1991 version known as the LTD Crown Victoria, see Ford LTD Crown Victoria. . Sue Cischke, vice president of safety engineering for Ford, said the automaker was responding to concerns raised by police nationwide. But she maintained that the Crown Victoria is safe. |
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