BRIEFCASE JAKKS PACIFIC OKS BUYBACK OF STOCK.Byline: - Staff and wire services MALIBU - Jakks Pacific JAKKS Pacific, Inc. NASDAQ: JAKK is is a multi-brand company that designs and markets a broad range of toys and consumer products and is based in Malibu, California. Its product categories include action figures, art activity kits, stationery, writing instruments, performance approved a $20 million stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. program Wednesday. The move, approved by the toy maker's board of directors, is aimed at shoring up Noun 1. shoring up - the act of propping up with shores propping up, shoring supporting, support - the act of bearing the weight of or strengthening; "he leaned against the wall for support" stock prices. Jakks' shares, traded on the Nasdaq exchange under the symbol JAKK, have slid considerably from their 52-week high of $23.70 on March 28, 2002. They closed up 10 cents at $11 on Wednesday. Countrywide now open in Torrance TORRANCE - Calabasas-based Countrywide Bank announced on Wednesday the opening of a financial center in Torrance. Countrywide Bank opened its first four financial centers more than a year ago in Ventura and Los Angeles counties. Countrywide Bank account applications and other information are available through the Internet, by telephone and at the financial centers. Oxy offering notes to generate cash WESTWOOD - Energy explorer Occidental Petroleum said Wednesday that it has priced $300 million of seven-year senior notes with an interest rate of 4.25 percent. The proceeds from the offering will be temporarily invested and then used to generate cash flow to repurchase notes due in 2013. Salomon Smith Barney is the lead manager of Westwood-based Occidental's offering. CSC announces 8-year Basell deal EL SEGUNDO - El Segundo-based Computer Sciences Corp. announced on Wednesday the signing of an eight-year information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much agreement with Basell, valued at about $320 million. Basell is the world's largest producer of polypropylene and a major supplier of polyethylene and advanced polyolefin products used in a wide range of consumer and industrial goods such as food and drink packaging, car parts, toys and underground piping. Under the agreement, CSC will assume responsibility for Basell's global IT infrastructure, including data center and help desk operations, networks and desktop computers. Teledyne offshoot gets Exelon deal Los Angeles-based Teledyne Technologies Inc. announced Wednesday that a subsidiary won a contract to provide material and valve maintenance labor services for Exelon Generation Co.'s nuclear operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon . Exelon Nuclear operates the largest nuclear power generation fleet in the nation and the third-largest in the world, with 10 stations and 17 reactors that represent about 20 percent of the U.S. nuclear industry's power capacity. Teledyne Instruments Inc.'s contract will cover all 17 of Exelon's reactors and run until January 2006. Terms were not disclosed. SEC widens probe into HealthSouth BIRMINGHAM, Ala. - Federal regulators have expanded their probe into HealthSouth Corp., with investigators gaining subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. power as they review possible wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do at the company.
The Securities and Exchange Commission has issued a formal order of investigation into the health company, HealthSouth said Wednesday. The Birmingham-based company had confirmed in September that the SEC was investigating the timing of its Aug. 27 announcement that reduced Medicare payments would slash the company's pretax profits by $175 million a year. AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. bankruptcy might occur soon DALLAS - AMR Corp., parent company of American and American Eagle airlines American Eagle Airlines is a regional airline based in Fort Worth, Texas[1]. It is a airline partner of American Airlines[2] (both wholly owned by the AMR Corporation holding company), operating over 1,800 flights a day, serving 159 cities across the USA, , could be forced into bankruptcy as soon as May, its pilots union warned. An analysis of AMR's finances by the Allied Pilots Association found that the Fort Worth-based company has just three months' worth of cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. , The Dallas Morning News reported Wednesday. American Airlines pleaded with employees earlier this month to accept steep cuts in wages and benefits to save $1.8 billion annually. The pilots' analysis concluded that that might not be enough. |
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