BRIEFCASE DUO TO DIRECT FOX MARKETING EFFORTS.

Byline: - Staff and Wire Services

< Tony Sella and PamelaLevine are the new co-presidents of domestic theatrical marketing for Twentieth Century Fox, it was announced Wednesday.

Sella joined the studio in 1991 as senior vice president, creative advertising and was promoted to senior vice president, marketing/creative advertising in 1994.

Levine joined Fox in 1995 as vice president of market research.

Northrop ad aids pro-merger voters

Northrop Grumman Corp. stepped up its unfriendly takeover bid of TRW Inc. on Wednesday with a two-page ad in The Wall Street Journal aimed at TRW shareholders.

The ad tells the shareholders wishing to vote for Northrop's bid how to fill out the blue proxy card.

Northrop officials have complained that the complexity of the proxy card makes voting for the plan difficult.

President of Sun to be out by July

SAN JOSE - In the latest high-profile retirement at Sun Microsystems Inc., President and Chief Operating Officer Ed Zander said Wednesday that he is stepping down after more than 15 years at the company.

Zander, 55, will be replaced by the company's chief executive, Scott McNealy, on July 1 - the start of Sun's fiscal year. Zander will stay on through December to help with the transition.

Kmart seeks more time to file report

TROY, Mich. - Kmart Corp.'s annual report will come a little late, as the bankrupt retailer asked the Securities Exchange Commission for more time to complete its financial statements.

Data for Fiscal Year 2001 won't be available until at least May 15, which the company blamed on an accounting inquiry spurred by an anonymous letter alleging improprieties in January. The company expects losses to outflank its $244 million lost in 2000 ``significantly.''

Baby rattles, rings subject of recall

WASHINGTON - A New York toy company is recalling about 4,600 rattle and teether rings because they can break open, releasing small beads that are a potential choking hazard for young children.

The recalled Duckie Ring rattle/teethers have clear plastic tubes with balls inside that make a rattling sound. The rattle is attached to a yellow duck by a blue-and-yellow striped teether that has ``PRESTIGE'' printed on it.

Consumers should take the rattles away from children and return them to the company to receive a replacement toy or refund. For more information, consumers can call Prestige toll-free at [phone].

Expansion slows for manufacturing

WASHINGTON - Manufacturing grew at a slower pace and construction spending dipped, suggesting that an economic recovery that roared out of the starting gate might be losing a bit of steam.

The Institute for Supply Management reported Wednesday that its index of business activity dipped to 53.9 in April from a revised 55.6 in March. Analysts had been expecting a reading of 55.0.

Because an index over 50 signifies growth in manufacturing, April's figure indicates continued expansion in the sector, although at a slower pace than in March.

Vivendi stock bet may cost a billion

Vivendi Universal, the calamity-ridden media giant, may now have to fork over as much as a billion dollars because it made a bad bet on its own stock.

Last year, the embattled conglomerate sold put options on tens of millions of its shares - to raise cash to pay for stock options for its own executives. Vivendi was betting its stock would go up.

Instead, since then Vivendi's stock has plunged.

And if the stock fails to shoot back up by the end of the year, the company will be forced to buy back shares at prices far higher than their current value.