BRIEFCASE SPORT CHALET NEW STORES HELP SALES.Byline: - Staff and Wire Services LA CANADA FLINTRIDGE - Sport Chalet Inc. saw a 17.2 percent increase in sales for its second quarter as the result of several new stores opening, the company announced Tuesday. Sales for the quarter ending Sept. 30 reached $72.5 million, compared with $61.8 million over the period last year. The boom is attributed to the opening of three new stores late last year and two new stores in Northern California early this year. Sports Chalet also plans to open two stores next year in Elk Grove and Visalia and is planning expansion into Arizona. DirecTV reports a larger net loss The DirecTV Group reported a considerably larger net loss in the third quarter after writing down the value of two satellites that will be switched to transmit TV signals rather than provide Internet access. The company reported a net loss of $1.008 billion, or 73 cents in the quarter ended Sept. 30, compared with a loss of $23 million, or 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. in the same period last year. Analysts had expected a net loss of 8 cents per share. Shares of DirecTV fell 46 cents to $16.56 at the end of regular trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Former ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. exec is hired by Yahoo Yahoo Inc. has hired a former ABC television programmer, who was behind shows such as ``The Sopranos'' on HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy and ``Lost'' on ABC, to head the online giant's media and entertainment division. Lloyd Braun will try to convince movie, TV and music companies to distribute more content exclusively on Yahoo, company officials said Monday. Braun, 46, also will try to create original programming for the 90 million visitors a month to the company's Web sites. Braun was ousted in April by The Walt Disney Co. as chairman of the ABC Entertainment Television Group. He had clashed with Disney President Robert Iger over the direction and management of the network, which had fallen to fourth place in the ratings. Tenet Healthcare reduces its loss SANTA BARBARA - Tenet Healthcare Corp. said Tuesday its loss narrowed in the third quarter, as the operator of acute-care hospitals significantly reduced its loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . However, the Santa Barbara, Calif., firm said results were hurt by its loss from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , impairment charges and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. costs, as well as the string of hurricanes that hit the Southeast. Ruling on Rigas retains charges NEW YORK - A federal judge declined to dismiss securities fraud charges against former Adelphia Communications Corp. executive Michael Rigas, whose criminal trial ended last July with a deadlocked jury. Monday's ruling paves the way for the Manhattan U.S. Attorney's Office to retry re·try tr.v. re·tried , re·try·ing, re·tries To try again. Verb 1. retry - hear or try a court case anew rehear Rigas on securities fraud charges. AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. planning 5% cut in work force NEW YORK - America Online, which has been trying to turn its fortunes around as users leave the service for broadband connections, plans to cut about 700 jobs next month, or 5 percent of its U.S. work force, in a bid to meet financial targets, a person familiar with the matter said Tuesday. The source, who spoke on condition of anonymity, said the job cuts would occur mainly in northern Virginia, where the online service is based. News of the cuts was reported earlier in The Washington Post. Tobacco company wins memo ruling WASHINGTON - A federal appeals court sided Tuesday with a tobacco company that is trying to keep a potentially damaging memo out of the U.S. government's $280 billion lawsuit against cigarette makers. The U.S. Circuit Court of Appeals for the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). ruled that U.S. District Judge Gladys Kessler erred when she said British American Tobacco PLC British American Tobacco PLC formerly British-American Tobacco Company Ltd. (1902–76) and B.A.T Industries PLC (1976–98) British conglomerate that is one of the world's largest manufacturers of tobacco products. must produce the memo because the company had, in effect, waived the right to protect the document under the claim of attorney-client privilege. The appellate ruling means BAT can continue to claim the document as privileged and try to keep it out of the massive civil racketeering Traditionally, obtaining or extorting money illegally or carrying on illegal business activities, usually by Organized Crime . A pattern of illegal activity carried out as part of an enterprise that is owned or controlled by those who are engaged in the illegal activity. case. However, the government can still challenge the claim in the lower court, where the trial is continuing. Hurricanes hurt insurance firms NEW YORK - The property insurance industry sustained record third- quarter losses this year after a series of storms, including a string of hurricanes, according to an actuarial firm's preliminary estimate. Eight catastrophes, including hurricanes Charley, Frances, Ivan and Jeanne, contributed to $21.3 billion in insured property loss claims, according to New Jersey-based ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. . That figure compares with $3.7 billion from last year's third quarter, $715 million in the third quarter 2002 and $19.15 billion in the third quarter 2001 - the previous record, which included $18.8 billion in insured property losses from the Sept. 11, 2001, terrorist attacks. H.K. Disneyland to hire thousands HONG KONG - Hong Kong Disneyland Hong Kong Disneyland (Traditional Chinese: 香港迪士尼樂園) is the first theme park inside the Hong Kong Disneyland Resort, which is owned and managed by the Hong Kong International Theme Parks, said Tuesday it plans to hire 4,650 more people to complement its existing staff of 350 by the time the theme park opens in late 2005 or early 2006. Workers will be hired in all aspects of the park's operation, including marketing, catering and information technology, said Hong Kong Disney spokeswoman Esther Wong, adding that auditions are already under way for 500 dancers, musicians and actors. Hong Kong's government, a partner in the joint venture with The Walt Disney Co., has argued that the jobs created at Hong Kong Disneyland will justify the project's $3.5 billion price tag. |
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