BRIEFCASE EDGAR ON YOUBET BOARD OF DIRECTORS.

Byline: - Staff and wire reports

WOODLAND HILLS - Online wagering company Youbet.com Inc. said Thursday it has appointed former Illinois Gov. Jim Edgar to its board of directors.

Edgar crafted legislation that allowed horse racing to remain competitive with the rapidly growing riverboat casino industry.

He also created laws to improve housing conditions for workers and their families at Illinois tracks.

Wal-Mart recalls defective bikes

WASHINGTON - About 132,000 mountain bicycles sold at Wal-Mart stores are being recalled because their suspension forks can break apart, potentially causing riders to lose control, fall and be injured.

There have been 20 reports of the Ballistic 105 forks breaking on the Next Ultra Shock bicycles, resulting in injuries to 19 riders, including concussions and chipped teeth, the Consumer Product Safety Commission said Thursday.

BY US International Co. of Taiwan manufactured the forks on these bicycles, which were distributed by Dynacraft Industries Inc. of San Rafael, Calif.

The recall includes blue Next Ultra Shock bicycles with model numbers 8524-14 and 8526-20. The bicycles were manufactured between April 1999 and Nov. 9, 1999.

The government said consumers should stop using the recalled bicycles and call Dynacraft Industries toll-free at [phone] for information on receiving a free replacement fork.

Markets plunge to 2002's lowest

NEW YORK - The Dow closed down 129.80, or 1.4 percent, at 9,431.77, its lowest close since Nov. 2, when the average stood at 9,323.54. It was the average's fourth triple-digit loss in eight sessions. The Dow has fallen 274.35 points over the last two days, wiping out a rally earlier in the week.

Broader stock measures also retreated. The Nasdaq lost 32.08, or 2.1 percent, to 1,464.75. The index last finished lower on Sept. 27, when it was 1,460.71.

The S&P dropped 13.70, or 1.3 percent, to 1,006.29, its lowest close since Sept. 24, when it finished at 1,003.45.

The selloff brought all three indicators to new lows for 2002 and even closer to the lows that followed the Sept. 11 attacks on the World Trade Center and the Pentagon. The Nasdaq is just 2.9 percent and the S&P 4.2 percent from their respective Sept. 21 lows, while the Dow has 14.5 percent to go.

Dynegy closes Internet trading

HOUSTON - Financially troubled Dynegy Inc. shut down its Internet-based energy trading system Thursday because of a decline in industrywide trading volumes, but the company vowed to restart DynegyDirect if demand rebounds.

The announcement came one day after the Houston-based company's chief financial officer was replaced and 340 employees were laid off, including 50 from the company's trading business. Shares of Dynegy continued their fall on Thursday, as did the stock prices of other major energy trading companies.

Adelphia says it will serve public

Adelphia Communications released a letter Thursday that it sent last week to 3,500 agencies that grant cable franchises in which it assures them that it is working to provide good customer service, diverse programming and new services.

The letter was released in response to a statement from Rocky Delgadillo, the city attorney of Los Angeles, who said the company could have its license revoked if it did not improve service or pay fees on time. Adelphia has about 250,000 cable subscribers spread over five franchise areas in the Los Angeles area.

Delgadillo said he was concerned about Adelphia's financial condition because the company, which is based in in Coudersport, Pa., had stopped upgrading its systems and ``therefore will not be able to offer Internet or broadband service.''