BRIEFCASE IHOP TO BUILD, RUN OHIO RESTAURANTS.

Byline: - Staff and Wire Services

GLENDALE - IHOP Corp. announced Thursday plans to build new restaurants in Cincinnati.

Shifting from its recent strategy of relying on franchised growth, the pancake maker plans on developing and running 15 to 20 new restaurants in the next four years in hopes of creating a test market.

The company plans on spending $20 million to $25 million to support the program, which will be used to test new products, marketing programs and initiatives for use in the rest of its 1,149 restaurants.

CalPERS rejects NYSE proposals

SACRAMENTO - The California Public Employees' Retirement System rejected proposed changes at the New York Stock Exchange on Thursday, calling on the Securities and Exchange Commission to follow suit.

CalPERS criticized the plan, proposed by NYSE Chairman John Reed, for having inadequate investor representation, insufficiently independent regulation and overly complex structure.

CalPERS controls $154.2 billion in assets, representing 1.4 million members.

Pixar bottom line boosted by 'Nemo'

EMERYVILLE - The tale of a worried clown fish searching for his lost son sent the quarterly net income of Pixar Animation Studios surfing past analyst expectations Thursday, despite a drop from last quarter's results.

The Emeryville-based studio, which produced this year's ``Finding Nemo'' with The Walt Disney Co., reported net income of $13.1 million, or 23 cents per share, compared with $46.9 million, or 87 cents per share, in the same quarter last year.

Analysts surveyed by Thomson First Call had expected net income of 13 cents per share.

Federal judge OKs Rx Depot closure

TULSA, Okla. - A federal judge granted the government's request Thursday to shut down a company, operating as Rx Depot and Rx of Canada, that helps customers buy cheaper prescription drugs from Canada.

The decision by U.S. District Judge Claire Eagan is a blow to customers who use the company to purchase less expensive medicines. It also could affect cities and states nationwide that are considering allowing employees to import drugs in order to cut rising prescription costs.

An estimated 1 million to 2 million Americans already buy Canadian drugs through the Internet, storefront operations or by crossing the border.

Greenspan says economy growing

WASHINGTON - Soaring government budget deficits threaten the economy in the long term and must be brought under control, Federal Reserve Chairman Alan Greenspan said Thursday. But in an upbeat assessment of current conditions, Greenspan said the odds ``increasingly favor'' the creation of new jobs.

In a speech to the Securities Industry Association, Greenspan delivered his most detailed assessment of the state of the economy since testimony before Congress last July.

He struck an optimistic tone, noting a growing number of signs of strength in recent months and said that even the weak job market should soon start to show improvement.