BRIEFCASE.Byline: - Staff and Wire Services Globetrotters sold to Roy Disney firm BURBANK - An investment company controlled by Roy E. Disney Roy Edward Disney, KCSG, (born January 10, 1930) was a longtime senior executive for The Walt Disney Company, which his father Roy Oliver Disney and his uncle Walt founded. has bought 80 percent of the Harlem Globetrotters and will help expand the basketball team's merchandising and licensing activities worldwide. The Shamrock Capital Growth Fund bought the controlling interest from Mannie Jackson, the team's chief executive officer, who will continue to own 20 percent. Jackson, who had bought the Globetrotters in 1993, will continue to serve as the team's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Terms of the deal were not disclosed. Shamrock manages the investments for the family of Roy E. Disney, son of Roy O. Disney Roy Oliver Disney (June 24, 1893–December 20, 1971, aged 78) was, with his younger brother Walt Disney, co-founder of what is now The Walt Disney Company. Roy served as the company's chief executive officer (1929–1971)-though title name wasn't given until 1968-, and nephew of Walt Disney. The company, managed by Stanley Gold as president and CEO, has invested more than $550 million in media, entertainment and communications businesses in the United States. Crude oil prices drop after rally NEW YORK - Crude oil prices eased Tuesday after a robust rally a day earlier, but investors worried about possible shortages in gasoline and other products, such as heating oil, that require refining. Refineries were still assessing the damage caused by Hurricane Rita. Light sweet crude for November fell 75 cents to settle at $65.07 a barrel on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. . It had risen by $1.63 Monday. On London's International Petroleum Exchange, Brent futures for November fell 96 cents to $676 a barrel. About a dozen refineries in Texas and Louisiana remained shut Tuesday because of Hurricanes Rita and Katrina. Prices rose for gasoline and distillates. WellPoint adding New York region INDIANAPOLIS - WellPoint Inc., the nation's largest health insurer, moved Tuesday to expand its reach by acquiring New York-based WellChoice Inc. in a move that analysts said would thwart competition but that physicians said could be bad for customers. The deal, valued at $6.5 billion in cash and stock, gives Indianapolis-based WellPoint an important inroad in·road n. 1. A hostile invasion; a raid. 2. An advance, especially at another's expense; an encroachment. Often used in the plural: Foreign products have made inroads into the American economy. into the New York area with 5 million new customers and access to nationwide accounts, company officials said. The deal calls for WellPoint to pay $77.23 in cash and stock per WellChoice share, about 9.4 percent more than WellChoice's closing price Monday. WellChoice shares rose $4.91, or 7 percent, to close at $75.51 in trading Tuesday 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. , while WellPoint fell 8 cents to $75.01. Together, WellPoint and WellChoice will serve more than 33 million members in 14 states. WellPoint CEO Larry Glasscock said some WellChoice workers will be laid off as a result of the deal but did not specify how many jobs would be affected. FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. gives Internet phones a break NEW YORK - The Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. backed off again Tuesday on enforcing a deadline for Internet phone service See VoIP. providers to disconnect all customers who haven't acknowledged that they understand it might be hard to reach a live emergency dispatcher Software that determines what pending tasks should be done next and assigns the available resources to accomplish it. It may execute other programs or generate a list for human operators to follow. See scheduler. when dialing 911. The agency explained that the status reports required from every Internet phone company last week showed that by ``repeatedly prompting subscribers through a variety of means, the majority of providers .... have obtained acknowledgments from nearly all, if not all, of their subscribers.'' The decision came a day before a deadline that would have required Internet phone companies to cut off at least 10,000 of the estimated 2.7 million users of the service in the United States. |
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