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Byline: - Staff and Wire Services

Pump prices dip, but rise expected

After rising for six straight weeks, prices at the pump fell in the Southland this week because of a seasonal glut of winter-grade gasoline, but increases are expected next month, the Auto Club reported Friday.

The average price of a gallon of self-serve unleaded regular was $2.57 in the Los Angeles area Friday morning, 3.6 cents less than last week, but 12 cents more than last month and 44 cents more than at this time last year, according to the Automobile Club of Southern California.

Delphi once again avoids labor woes

DETROIT - Delphi Corp. dodged a bullet Friday, avoiding a devastating strike by delaying a bid to reject its labor agreements. But the nation's largest auto supplier warned that it will renew efforts to cancel its contracts in six weeks if it fails to reach a settlement with its unions and its largest customer, General Motors Corp.

Delphi, which filed for bankruptcy in October, says its expensive U.S. labor agreements make it impossible to compete in a global economy. The company first threatened in December to ask a bankruptcy court to reject its union contracts. Friday was the third time Delphi delayed the filing, which also seeks to terminate health care and life insurance for retired hourly workers.

Delphi said it will try to settle with GM and its unions by March 30.

Bank of America chief banks bonus

CHARLOTTE, N.C. - The chairman and chief executive of Bank of America Corp. will receive $11.7 million of restricted stock as part of his compensation for last year, the nation's second-largest bank disclosed in a filing with federal regulators.

Ken Lewis led Bank of America to a record $16.9 billion profit in 2005, the same year the bank acquired credit-card company MBNA Corp. and a 9 percent stake in a large Chinese bank.

Delta pilots airing pay-cut concerns

ATLANTA - More than two dozen Delta Air Lines Inc. pilots brought the fight over their contract to their employer's doorstep Friday as they held signs berating management for asking pilots to take more pay and benefit cuts while the company tries to get court approval for a controversial severance plan for officers.

The picketing at the passenger drop-off area outside Delta's terminal at Hartsfield-Jackson Atlanta International Airport, the company's main hub, came after the pilots union and airline on Thursday failed to agree on another round of concessions.

Schick, Gillette bury the hatchet 

ST. LOUIS - After 2 1/2 years of lawsuits and countersuits, the nation's two largest razor makers have settled most of their differences out of court, a whisker short of the trial.

Gillette Co. and Schick Wilkinson-Sword have been waging a legal battle since Schick launched its Quattro four-blade razor in August 2003, with one more blade than Gillette's three-bladed Mach3 razor.

Gillette filed a suit in Boston, saying any razor with three or more blades violated its patent. Schick later filed a suit in Connecticut challenging Gillette's advertising claims for its razor.

Details of the agreement reached last week were not disclosed.