BRIEFCASE UNIVERSAL CARE SET TO OFFER MEDICARE.

Byline: - Staff and Wire Services

Universal Care, a Long Beach-based health plan, received permission Thursday to offer medical coverage to Medicare beneficiaries in Los Angeles, Orange and Kern counties.

Starting today, Universal Care will open enrollment in its new Medicare health plan, called Health Advantage.

Currently, only four Medicare+Choice plans are available to all the three counties' combined 1.4 million Medicare beneficiaries: Blue Cross of California, Health Net of California, Kaiser Permanente Health Plan and Secure Horizons.

Fast-food merger gets key approval

Shareholders of CKE Restaurants and Santa Barbara Restaurant Group approved a proposed merger of the companies Thursday.

They hope to close the merger - by which Carl's Jr. and Hardee operator CKE will acquire Santa Barbara Restaurant Group - today.

Under the deal, each share of Santa Barbara common stock will be exchanged for 0.491 shares of CKE common stock.

CKE Restaurants owns, operates and franchises some 3,400 quick-service restaurants, most of them Carl's Jr. and Hardee's.

Santa Barbara Restaurant Group operates 56 La Salsa restaurants, 25 Timber Lodge Steakhouse restaurants, five Green Burrito restaurants as well as restaurants under franchise.

Nestle SA profits jump 15 percent

VEVEY, Switzerland - Nestle SA, the world's biggest food group, said Thursday that its net profit rose 15.9 percent in 2001 on a 4 percent rise in sales.

The profit growth exceeded analysts' expectations for a rise of around 11 percent, but there were onetime factors such as tax changes that raised questions about whether the growth rate could continue.

The company, whose North American base is in Glendale, expressed confidence that it would ``deliver a continued positive trend'' in 2002.

Nestle said its acquisition of Ralston Purina had no material impact on the year's results because it was concluded only in mid-December.

NYSE may delist Asia Global Ltd.

NEW YORK - The New York Stock Exchange said Thursday that it was seeking to delist Asia Global Crossing Ltd. after the company said its financial difficulties were unlikely to be resolved soon.

Trading of the company's shares was suspended Wednesday. The shares last traded at 36 cents.

PG&E to restate 1999 earnings

SAN FRANCISCO - PG&E Corp. confirmed Thursday that it will restate its earnings dating back to 1999 to reflect changes in the way the power company accounts for several leases that hadn't been included on its books.

The San Francisco-based holding company of bankrupt Pacific Gas and Electric Co. warned last week that it might have to make the accounting correction. PG&E disclosed its definitive decision in an update filed with the Securities and Exchange Commission on Thursday.

30-year mortgage rates down again

WASHINGTON - Rates for 30-year mortgages dipped again this week, staying below the 7 percent mark for the fourth week in a row, and one-year adjustable rate mortgages fell to their lowest level since 1994, according to a nationwide survey released Thursday.

Freddie Mac, the mortgage company, reported that the average interest rate on 30-year fixed-rate mortgages edged down to 6.80 percent, down from 6.81 the previous week.

HP investors told of CEO bonus plan

SAN JOSE - Walter Hewlett released internal Hewlett-Packard Co. documents Thursday to back up his claim that the company has considered lavish pay plans for chief Carly Fiorina and Compaq Computer Corp. head Michael Capellas.

HP spokeswoman Judy Radlinsky said the company was ``outraged'' by Hewlett's action, which she called ``yet another blatant breach of fiduciary duties.''

But Hewlett said stockholders have a right to know the costs HP might incur from paying its leaders if the $22 billion acquisition of Compaq is approved. Investors are scheduled to vote March 19.