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Byline: - Staff and Wire Services

Health Net pact extended by state

WOODLAND HILLS - Health Net of California announced Tuesday that the California Department of Health Services intends to extend its contract to cover Medi-Cal benefits for Los Angeles County, leading to up to eight years of coverage. The health plan has contracted with DHS since 1985 to serve nearly 500,000 patients, bringing in $560 million in annual revenue.

Work on Montage to start in summer

BEVERLY HILLS - Winning the right to build has never been easy in this affluent city, but few projects have weathered as strong a challenge as the proposed Montage Hotel, a $211 million project that survived a well-financed opposition campaign in a municipal election in March.

With the vote behind them and a building permit firmly in hand, the developers of the Montage plan to start clearing an eight-acre site this summer for the 214-room, seven-story hotel in the city's high-rent commercial district, known as the Golden Triangle.

Cisco's Q3 profit rises 16 percent

SAN JOSE - Cisco Systems Inc. said Tuesday that its fiscal third-quarter profit rose 16 percent while sales jumped more than 10 percent as the maker of network equipment continued to see strength across all its businesses around most of the world.

The company expects the growth to continue into the final quarter of its fiscal year, saying revenue should be between $6.45 billion and $6.6 billion - a year-over-year jump of 9 percent to 11 percent and higher than analysts' average expectation.

Blockbuster to fill 3 seats on board

DALLAS - Blockbuster Inc. on Tuesday explained to shareholders how they can in effect split their votes for three seats on the board of directors between incumbents and challengers led by billionaire financier Carl Icahn.

The strategy seemed designed to thwart Icahn's bid for a seat while protecting Chairman and CEO John F. Antioco.

Shareholders are scheduled to meet today in Dallas and fill three seats on the seven-member board. A company spokesman said, however, that results might not be immediately available.

GM recalls autos for bad turn lights

WASHINGTON - General Motors Corp. is recalling more than 300,000 trucks and sport utility vehicles because of problems with the turn signal on some vehicles, the company said Tuesday.

GM, the world's largest automaker, said a driver indicating an upcoming turn by moving the directional signal up or down might cause the front and rear turn lights to flash, making it appear like a hazard warning.

The recall involves the 2003 and 2004 model years of the Chevrolet TrailBlazer, the GMC Envoy, the Isuzu Ascender and the Oldsmobile Bravada. It also includes the 2004 Buick Rainier.

Permanent replacement parts will be available to dealers in August. In the meantime, consumers may have their directional/hazard signals fixed with temporary parts until a more permanent fix becomes available.