BRIEFCASE.Byline: -- Staff and Wire reports
Pixar filings detail options
Pixar Animation Studios granted stock options to key executives four times since 1997 on dates that coincided with the company's lowest stock price, company filings show.
The grants have not been questioned by federal regulators and the company, which was bought by The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966)
Disney, Walter Elias Disney Co. earlier this year, has not said it is concerned about the accuracy of its financial records.
Pixar spokesman Tom Sarris declined comment Tuesday.
``We do not comment on personnel compensation,'' he said.
The Securities and Exchange Commission also declined comment and would not say whether the agency was examining Pixar's options granting practices.
Cinemark buying Century Theatres
DALLAS -- Plano, Texas-based Cinemark USA Inc. said Tuesday that it is acquiring San Rafael-based Century Theatres Inc. for an undisclosed amount of cash and stock.
The deal, subject to antitrust and financing approval, will create one of the biggest players in the movie exhibition industry.
Cinemark, which was acquired by Chicago private equity firm Madison Dearborn Madison Dearborn Partners (MDP) is a private equity firm specializing in buyouts of private or publicly held companies, or divisions of larger companies; recapitalizations of family-owned or closely held companies; balance sheet restructurings; acquisition financings; and growth Partners LLP LLP - Lower Layer Protocol in 2004, had $1.02 billion in revenue in 2005. It operates roughly 3,300 screens, making it the third-largest exhibitor in the country, and has a significant presence in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. .
Century, which was founded in 1941 in California and has a broad base there, operates more than 1,100 screens in 12 states, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the company's Web site.
The combined enterprise will have more than 200 million customers in 391 theaters with 4,395 screens in 37 states and 13 countries.
Upon closing of the transaction, Cinemark's stockholders will include founder and chief executive Lee Roy Mitchell, Syufy Enterprises LP, Quadrangle quadrangle
Rectangular open space completely or partially enclosed by buildings of an academic or civic character. The grounds of a quadrangle are often grassy or landscaped. Capital Partners and Madison Dearborn, which will remain the controlling shareholder.
Mitchell will remain chairman and chief executive of the company. Raymond Syufy, chairman of Century Theatres, and Joseph Syufy will join the company's board.
Bristol-Myers suffers stock hit
NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were Co. shares plunged nearly 7 percent Tuesday on concerns its earnings and dividend are in serious jeopardy now that a generic version of its best-selling medicine has been launched by Apotex Corp.
Some patients will likely to be able to purchase the generic version of blood thinner blood thinner
A drug used to prevent the formation of blood clots.
blood thinner Vox populi Anticoagulant, see there Plavix beginning today. Rite Aid Rite Aid (NYSE: RAD) is a United States retailer and pharmacy chain, operating over 5,000 stores in 31 states and the District of Columbia. Rite Aid Corporation is one of the nation's leading drugstore chains. Corp. spokeswoman Jody Cook said the company expects to have the drug ``at most, if not all'' its 3,300 stores by then.
Apotex declined to say how much it was charging for its pills. Plavix pills have a wholesale price of $3.89 each.
Apotex's announcement Tuesday that it had begun selling the drug came just hours after Bristol-Myers disclosed it was expecting such a move in an SEC filing.
U.S. productivity slows in spring
WASHINGTON -- The efficiency of American workers slowed sharply in the spring while a key gauge of labor costs rose at the fastest rate since late 2004.
The Labor Department The Department of Labor (DOL) administers federal labor laws for the Executive Branch of the federal government. Its mission is "to foster, promote, and develop the welfare of the wage earners of the United States, to improve their working reported that productivity -- the amount of output per hour of work -- slowed to an annual rate of increase of 1.1 percent in the April-June quarter, down from a 4.3 percent rate of increase in the first three months of the year.
Labor costs, as measured by each unit of output, rose at an annual rate of 4.2 percent in the spring, the fastest increase since the final three months of 2004 and up sharply from a 2.5 percent rate of increase in the first three months of this year.
Economists said the slowdown in productivity growth and the acceleration in labor costs was certain to raise concerns at the Federal Reserve about the potential for rising inflation.
Productivity is the key factor determining rising living standards. Strong growth in output allows businesses to pay their workers more without having to raise the cost of their products, which fuels inflation.
Sprint Nextel set for WiMax
KANSAS CITY, Mo. -- Sprint Nextel Corp., the nation's third-largest cellular provider, said Tuesday it will use an emerging technology called WiMax to build a new high-speed wireless network.
The company said the new network, expected to be available in the fourth quarter of 2007, will provide consumers with wireless Internet speeds on par with DSL DSL
in full Digital Subscriber Line
Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary and cable TV modems.
Gary Forsee, Sprint's chief executive, said the telecom company will spend $1 billion on the network in 2007 and between $1 billion and $2 billion in 2008.
The initiative was announced less than a week after the company, formed last summer by the merger of Sprint and Nextel Communications, reported a 38 percent drop in second-quarter profit.