BUSINESS NOTES FTC INVESTIGATING UNOCAL PRACTICES.Byline: - Staff and Wire Services The Federal Trade Commission is looking into whether Unocal Corp. used unfair competitive practices with its patents for making cleaner-burning gasoline, the company disclosed in a government filing Tuesday. The energy company made the statement in a quarterly report filed with the Securities and Exchange Commission. The investigation was spurred by a complaint from Exxon Mobil Corp., or ExxonMobil, of Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to , the filing said. The complaint revolves around reformulated gas, a clean-burning fuel required by federal law in the country's smoggiest regions. Without elaborating, the filing said ExxonMobil accused Unocal of using anticompetitive an·ti·com·pet·i·tive adj. That discourages competition among businesses: anticompetitive foreign trade restrictions. practices to gain ``monopoly profits'' from its patents, which date back as early as 1994. Krause's, others to fill open orders The U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. in Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. has preliminarily approved interim financing Interim financing A short-term loan made to a company on the condition that a takeout will follow with long-term or intermediate financing. interim financing The financing that supports a transaction until permanent financing can be arranged. to allow Krause's Furniture Inc., Krause's Custom Crafted Furniture Corp. and Castro Convertible Corp. to continue operations until at least Sept. 30 and fulfill all its customers orders. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Richard M. Neiter, a senior member of Stutman, Treister & Glatt Glatt may refer to:
The Brea-based company previously closed 12 showrooms and on August 13. Neiter also said that a new group of investors, composed of some members of current management and certain investors not related to Krause's, has offered to purchase the scaled-down business and to assume the obligations due to the landlords at the remaining 57 locations. Power provider's president quits After just six months at the helm of energy giant Enron Corp., President and Chief Executive Officer Jeffrey K. Skilling unexpectedly resigned Tuesday, citing personal reasons. Chairman Kenneth Lay will take over both positions for the Houston-based company. Still, the announcement took Wall Street by surprise and analysts sought - and received - assurances from Lay that Skilling's departure was not an indicator of any financial troubles at the company. While Enron's profits continue to grow, the company's stock has fallen nearly 50 percent in the past year. Investors were also made skittish skit·tish adj. 1. Moving quickly and lightly; lively. 2. Restlessly active or nervous; restive. 3. Undependably variable; mercurial or fickle. 4. Shy; bashful. by the decision by federal regulators to place temporary caps on wholesale electricity prices in the West this summer. And to top it off, Enron is one of several companies being investigated by California legislators over alleged price manipulation in that state's energy markets. |
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