BRIEFCASE ON ASSIGNMENT BUYS HPO CORP.

Byline: - Staff and Wire Services

CALABASAS - On Assignment Inc., a temporary staffing agency for the health care industry, said Friday that it has completed the $150 million acquisition of Health Personnel Options Corp.

Under the terms of the cash and stock deal, HPO, provider of traveling nurses, will operate as a freestanding division of Calabasas-based On Assignment.

HPO generated revenues of $72.4 million for the year ended Dec. 31, 2001. The Cincinnati-based company is expected to grow in excess of 35 percent for 2002.

Gasoline prices temporarily level

Gasoline prices virtually stood still in Southern California this week after 14 weeks of steady increases, but they are soon likely to start rising again, the Automobile Club of Southern California reported Friday.

The average price of self-serve regular unleaded gasoline in the Los Angeles area stood this morning at $1.626 per gallon, one-tenth of a cent lower than last week, 14 cents higher than last month and 11 cents lower than at this time last year, according to the Auto Club's Weekend Gas Watch.

Thales Raytheon signs India deal

PARIS - French defense electronics group Thales SA said Friday that India has signed a deal to buy radar systems for about $140 million from El Segundo-based Thales Raytheon Systems.

Thales Raytheon is Thales' joint venture with Raytheon Co., the aerospace and defense giant based in Lexington, Mass.

Thales said the final price for the order of eight Firefinder radar systems was still to be settled. The system is designed to detect long-range missiles.

SEC investigates HP, Compaq vote

HOUSTON - The Securities and Exchange Commission has asked Compaq Computer Corp. to retain documents related to the vote on its proposed $20 billion merger with Hewlett-Packard, the company said Friday.

HP said earlier this week that it had been contacted by the SEC. It said the commission wanted information on the company's dealings with stockholder Deutsche Bank AG. HP said the SEC also issued a subpoena for information on the votes of Deutsche and shareholder Northern Trust Corp.

A lawsuit filed in Delaware by Walter P. Hewlett, the HP co-founder's son who has led the campaign to block the Compaq merger, alleges that the California-based computer maker coerced Deutsche Bank to switch its vote in favor of the proposed merger.

Enron president says he'll resign

HOUSTON - Enron Corp. President Jeffrey McMahon, who complained two years ago about impropriety of financial partnerships that helped fuel the company's swift downfall, said Friday that he will resign effective June 1.

McMahon, 41, said he decided his resignation was necessary to help ensure Enron's successful reorganization into a mover of electricity and natural gas.

UAL Corp. reports 2nd-biggest loss

CHICAGO - United Airlines' parent company reported a $510 million first-quarter loss Friday, its second-biggest setback ever, reflecting its continued struggles to lure back business travelers in a skittish economy.

The loss was the seventh in a row for UAL Corp., exceeded only by the $1.16 billion loss in last year's third quarter, when the terrorist attacks threw the airline industry into crisis. Passenger revenues tumbled 28 percent, largely due to schedule cutbacks made last fall.

Results did show improvement for the nation's No. 2 carrier.