BRIEFCASE REPORT NO PROOF THAT HERB IS SAFE.

Byline: - Staff and Wire Services

WASHINGTON - Some 16,000 customer complaints about the popular Metabolife brand of ephedra are not enough to prove whether the herb caused dozens of heart attacks and strokes, some fatal, congressional investigators say.

The report released Wednesday doesn't mean ephedra is safe, the Food and Drug Administration stressed: There is evidence from other sources that the pills can cause serious health problems.

Armed with reports of more than 100 deaths and thousands of side effects linked to ephedra use, the FDA two months ago pledged to put warning labels on every bottle that say the amphetamine-like stimulant can cause heart attacks, strokes or even kill.

A major Q1 loss mars Omnimedia

NEW YORK - The lingering cloud surrounding an insider trading probe of Martha Stewart continues to take a toll on her namesake company, which posted a larger-than-expected loss Wednesday for the first quarter as revenue dropped 15 percent.

With no clear sign when the domesticity maven's legal issues will be resolved, Martha Stewart Living Omnimedia Inc. also projected results for the second quarter well below analysts' expectations.

In a brief address to analysts during a conference call, Stewart, chairwoman, CEO and founder, backtracked from a statement she made in March that the government investigation regarding her sale of ImClone Systems Inc. shares would be resolved soon.

Bethlehem Steel fades into history

PHILADELPHIA - Bethlehem Steel Corp., the mighty company that made the skeleton of Rockefeller Plaza, beams for the Golden Gate Bridge and armor plate for countless warships, virtually disappeared Wednesday with the stroke of a pen.

The bankrupt steel maker's executives and lawyers began signing paperwork transferring ownership of the company's mills to International Steel Group, a new steel company based in Cleveland.

It was a quiet end for an American industrial icon once considered indestructible.

Once the paperwork is complete - a tedious process officials said could take until May 6 - the company will retain a small secretarial staff for a few months, then vanish.

Mirant overstated 2000-01 earnings

ATLANTA - Energy supplier Mirant Corp., in a long-awaited audit, said Wednesday that it overstated earnings by $188 million over a two-year period, and cited hefty restructuring charges as it reported a $2.4 billion loss for 2002.

Atlanta-based Mirant had delayed the release of its 2002 earnings until completing the audit, which showed it overstated income by $159 million in 2001 and $29 million in 2000.

Mirant announced in November that it overstated net income by $41 million from 1999 to 2002.

Accounting firm KPMG performed an independent audit of those years, and Mirant filed the findings with the Securities and Exchange Commission on Wednesday.