BRIEFCASE.Byline: -- Staff and Wire Services Subsidiary of DI buys CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information stock Ducommun Inc. announced Tuesday that its Ducommun Technologies subsidiary has acquired the capital stock of CMP Display Systems Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Newbury Park. CMP is a manufacturer of incandescent, electroluminescent See electroluminescence and EL display. and LED edge-lit panels and assemblies for the aerospace and defense industries. Terms of the transaction were not disclosed. CMP's sales for the fiscal year ending Feb. 28 were about $8.6 million. Ducommun Technologies has design, development, manufacturing, integration and test capabilities in the areas of missiles, space, sensor, simulation, complex electronic/mechanical assemblies, illuminated cockpit displays, RF systems and space-qualified motion- control devices. Founded in 1849, Ducommun Inc. provides engineering and manufacturing services for the aerospace and defense industry. Interest rates fall for Treasury bills WASHINGTON -- Interest rates on short-term Treasury bills fell in Tuesday's auction to the lowest levels since June. The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 4.855 percent, down from 4.960 percent last week. Another $16 billion in six-month bills was auctioned at a discount rate of 4.920 percent, down from 4.970 percent last week. Separately, the Federal Reserve said Tuesday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, fell to 5.03 percent last week from 5.07 percent the previous week. Judge OKs Delta pension plan end WHITE PLAINS, N.Y. -- A federal bankruptcy judge on Tuesday approved Delta Air Lines Inc.'s request to terminate its pilots' pension plan. Judge Adlai Hardin's decision came after a splinter group splinter group n. A group, such as a religious sect or political faction, that has broken away from a parent group. splinter group Noun representing retired pilots formally withdrew its objection to the termination of the plan, which included an option for pilots to retire early at the age of 50 and take out half their entitlements in one lump-sum payment. Delta, the nation's third-largest carrier, must still go to the federal government's pension agency, the Pension Benefit Guaranty Corp., to officially end the plan. At that time, the PBGC PBGC See: Pension Benefit Guaranty Corporation will take over the plan and pay pilots reduced benefits. The change would be retroactive to Sept. 2. Delta said current retired pilots would still receive, on average, about $75,200 a year, including the lump-sum payment. It did not provide an updated estimate of how much pilots who retire in the future without a lump sum Lump sum A large one-time payment of money. will get. Phelps Dodge Phelps Dodge Corporation is a former United States company founded in 1834 by Anson Greene Phelps and William E. Dodge. On March 19, 2007, it was acquired by Freeport-McMoRan and now operates under the name Freeport-McMoRan Copper & Gold Inc. out of Inco takeover TORONTO -- Copper producer Phelps Dodge Corp. and Inco Ltd. canceled their takeover agreement Tuesday, leaving Brazil's Companhia Vale do Rio Doce Summary Companhia Vale do Rio Doce (CVRD) is a global diversified mining company, the second largest mining company in the world, and the largest logistics operator in Brazil. as the only suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) for the Canadian nickel miner. The announcement marks the latest twist in a multibillion-dollar takeover battle for Toronto-based Inco, the world's second-largest producer of nickel. Lack of support among its shareholders killed the deal. Phelps Dodge said it has received a $125 million payment from Inco as a result of the deal being terminated. Inco has agreed to pay an additional $350 million if the company changes hands on or before Sept. 7. |
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