BRIEFCASE.

Byline: - Staff and Wire Services

Gas prices down 3rd week in a row

Southern California gasoline prices fell for the third consecutive week this week because of continuing declining demand and increased imports, the Automobile Club of Southern California reported Friday.

The average self-serve price for a gallon of regular unleaded gasoline was $2.829 in the Los Angeles-Long Beach region Friday morning, 7.2 cents less than last week and 10 cents less than last month, but 39 cents more than at this time last year.

``Southern Californians have reduced their driving significantly in the past couple of months,'' said Auto Club spokeswoman Carol Thorp.

``Temporarily relaxed emissions standards have encouraged foreign imports of gasoline. Imports have more than made up for supply problems caused by Hurricanes Katrina and Rita.''

Ford losing head of hybrid program

DETROIT - Ford Motor Co.'s high-profile head of hybrid programs is leaving the automaker at a time when Ford is relying heavily on its gas-electric hybrid-vehicle program to help turn around its struggling automotive operations.

Mary Ann Wright, Ford's director of hybrid programs and chief engineer on the Ford Escape Hybrid, put in her resignation Friday morning. She is one of many senior managers to recently exit Ford, which is in the midst of a corporate restructuring that is to be detailed early next year.

Wright, who had been with Ford since 1988 in high-level engineering roles, was a key face in Ford's hybrid and fuel-efficiency initiatives, going to California recently to present the California Air Resources Board with a Ford Focus fuel-cell vehicle.

Chevron profits up, damage high

SAN RAMON - Chevron Corp., the nation's second-largest oil company, joined in its industry's third-quarter earnings boom, but didn't capitalize on soaring fuel prices as much as some rivals because Hurricane Katrina and other devastating storms crippled its Gulf of Mexico operations.

The San Ramon-based company said Friday that it made $3.6 billion, or $1.64 per share, during the three months ended in September. That represented a 12 percent increase from net income of $3.2 billion, or $1.51 per share, in the same quarter last year.

Revenue for the period totaled $54.5 billion, a 34 percent increase from $40.7 billion last year.

ADM shares rise despite storms

DECATUR, Ill. - Shares of agricultural processor Archer Daniels Midland Co. rose sharply Friday despite fiscal first-quarter earnings that fell 30 percent from sluggish grain sales due to hurricanes Katrina and Rita.

Much of the profit decline was attributed to ADM's agricultural services unit, which was disrupted by the storms. But its largest business segments, including corn and oilseed processing, showed solid profit growth.

Shares of Decatur-based ADM added $1.05, or 4.5 percent, to close at $24.30 on the New York Stock Exchange, nearing the top of their 52-week range of $17.01 to $25.37.