BRIEFCASE VERTEL PLANS CHANGE TO SMALLCAP MARKET.

Byline: - Staff and Wire Services

WOODLAND HILLS - Software maker Vertel Corporation announced Thursday that it plans to transition to the Nasdaq SmallCap Market by May 15 after receiving notice from the exchange that it had fallen below minimum bid requirements.

As an alternative to regaining compliance in 90 days to remain on the national market of Nasdaq, companies have an initial grace period of 180 days to regain compliance with the minimum bid price of $1 for more than 30 days.

EBay reclaims Web Billpoint ownership

SAN FRANCISCO - Online auctioneer eBay Inc. plunked down $43.5 million to reclaim full ownership of its Web site's billing service from Wells Fargo Bank on Thursday, and set its sights on toppling successful payment provider PayPal Inc.

San Francisco-based Wells bought a 35 percent stake in eBay's payment service, known as Billpoint, in March 2000 and planned to court e-commerce customers across the Internet.

But San Jose-based eBay has been more interested in tailoring the service exclusively for its own auction site with 42.4 million registered users. The site has developed into a booming business that generated a $90 million profit last year.

Likely MGM suitors get sticker shock 

MGM's getting a big thumbs-down from potential buyers.

The legendary studio's sky-high $7 billion asking price has turned off suitors such as media giants Disney and Viacom, media analysts said.

MGM has become far less desirable following the landmark federal court ruling handed down earlier this week that could eliminate TV station ownership caps, while allowing cross-ownership of cable systems and TV stations in the same market.

That knocks MGM - whose majority owner is 84-year-old billionaire Kirk Kerkorian - way down the food chain. Instead of film studios, media empires are now expected to bulk up on TV stations and cable companies.

MGM stock, which has tumbled 19 percent this year, fell 3.5 percent Thursday to $17.16.

Graco is recalling kids' activity trays

WASHINGTON - Graco Children's Products Inc. is recalling about 8,900 snack and activity trays for children because their suction cups can be installed incorrectly, causing them to detach and become a choking hazard.

Consumers should stop using these trays and contact Graco toll-free at [phone].

AT&T leader named to company's board

NEW YORK - In a move that appears to point to its next chief executive, AT&T Corp. appointed company President David W. Dorman to its board of directors Thursday.

Armstrong has said he will remain with the company's cable business, AT&T Broadband, which, pending shareholder and regulatory approval, will be sold and merged with cable provider Comcast Corp. The combined company will be known as AT&T Comcast.

Analysts have long considered Dorman, 48, the top candidate to replace Armstrong, who has busied himself in the past two years spinning off the ailing company's wireless unit, AT&T Wireless, along with the cable business.