BRIEFCASE.Byline: -- Staff and Wire Services Mistrial A courtroom trial that has been terminated prior to its normal conclusion. A mistrial has no legal effect and is considered an invalid or nugatory trial. It differs from a "new trial," which recognizes that a trial was completed but was set aside so that the issues could be declared in McKesson trial SAN FRANCISCO -- Two former McKesson Corp. executives were acquitted Friday on one count each of federal securities fraud, but a mistrial was declared on six other counts in a $9 billion accounting scandal at the pharmaceutical distribution company. Charles W. McCall, the former McKesson Corp. chairman, was charged with fabricating revenue and then trying to cover up a conspiracy to inflate profits before its 1999 merger with Atlanta-based HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy & Co. Jay Lapine, the former general counsel of HBO, a health services software maker, faced similar charges. The two were tried before a federal jury that heard six weeks of testimony. The panel, after deliberating six days, said it was hopelessly deadlocked on the remaining charges. One holdout juror led to an 11-1 vote of guilt on three securities fraud counts against each defendant. A unanimous vote of all 12 jurors is needed to establish guilt. High oil prices cause market dip NEW YORK -- Wall Street ended a dismal week with its third straight decline Friday after oil prices jumped on word of possible attacks in Nigeria near production facilities. The rise in oil prices sapped enthusiasm over a Labor Department report that the nation's unemployment rate fell to a five-year low. The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. logged its first six-day consecutive drop since June 2005 after light, sweet crude rose $1.26, to $59.14, on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. . U.S. diplomats in Nigeria warned that militants are planning a series of kidnappings and bombing attacks in the coming days in areas where oil is extracted. For more than a week, investors have been nervous about the strength of the economy following a stream of disappointing data. While Wall Street wants growth to cool so the threat of inflation will dissipate and the Federal Reserve can cut interest rates, a precipitous slowdown could slice into consumer spending and corporate profits. SUV engine fires spark U.S. probe WASHINGTON -- The government has opened an investigation into some Ford Escape and Mazda Tribute sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. after receiving complaints of engine compartment fires, Ford Motor Co. said Friday. The investigation involves more than 600,000 SUVs from the 2001-03 model years. The National Highway Traffic Safety Administration The National Highway Traffic Safety Administration (NHTSA, often pronounced "nit-suh") is an agency of the Executive Branch of the U.S. Government, part of the Department of Transportation. said it had received eight complaints of engine fires around the antilock an·ti·lock adj. Of or being a motor vehicle braking system that electronically monitors and adjusts individual wheel speeds during braking to prevent the wheels from locking. braking system's electronic control module. Ford spokeswoman Kristen Kinley said Friday that there have been no reports of injuries. Berkshire income soars over 2005 OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. -- With no major catastrophes in this year's third quarter, Berkshire Hathaway Inc. reported net income Friday that was 4.8 times as high as last year's third quarter, when hurricanes Katrina, Rita and Wilma struck. Berkshire earned $2.772 billion, or $1,797 per share, for the quarter ending Sept. 30, versus $586 million, or $381 per share, in the year-ago period, according to Berkshire's news release. The Omaha-based company has posted strong results throughout the first nine months of the year with net earnings of $7.432 billion, or $4,821 per share. 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. delays vote on BellSouth deal WASHINGTON -- The final regulatory hurdle facing AT&T Inc.'s acquisition of BellSouth Corp. got a bit higher when 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. delayed a vote -- for the third time -- on whether to approve the proposed deal. Commissioners had been expected to vote on the deal at an open meeting Friday, but they yanked the item from the agenda a day earlier because they were unable to decide what conditions should be placed on the deal. |
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