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Suit can go ahead for 'Guide' execs

Regulatory charges can move ahead against two ex-Gemstar-TV Guide executives accused of inflating the company's licensing and ad revenues by at least $248 million, court papers show.

U.S. District Judge Mariana Pfaelzer on Friday denied requests by former Gemstar-TV Guide International Inc. Chief Executive Henry Yuen and ex-Chief Financial Officer Elsie Leung to dismiss a civil suit filed against them by the U.S. Securities and Exchange Commission.

Pfaelzer also refused to issue a judgment against the two executives without a trial.

Katrinia-affected musicians helped

SANTA MONICA - The Recording Academy and its MusiCares Foundation have made a $1 million donation for music people affected by Hurricane Katrina.

``This is the time when we must come together and take care of those who need our help,'' academy President Neil Portnow said in a statement Tuesday.

The organization has also set up a relief fund to provide assistance ranging from food and shelter to medical expenses and the replacement of instruments and recording equipment.

Twelve regional chapters also plan local programming to raise funds, the academy said.

Chiron stock up on takeover play

SAN FRANCISCO - Chiron Corp.'s stock continued to climb Tuesday as investors bet that the recently troubled biotechnology company will remain a takeover target despite its rejection of a $4.5 billion acquisition bid by Swiss pharmaceutical giant Novartis AG.

The shares of Emeryville-based Chiron gained 72 cents, or 1.7 percent, to close at $43.51 on the Nasdaq Stock Market.

Tuesday's trading represented investors' first chance to react to Chiron's Labor Day rebuff of Novartis' $40-per-share bid to buy the third-oldest U.S. biotechnology company behind Amgen Inc. and Genentech Inc.

Short-term T-bill rates fall Tuesday

WASHINGTON - Interest rates on short-term Treasury bills fell in Tuesday's auction to the lowest levels in more than a month.

The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 3.435 percent, down from 3.495 percent last week. An additional $15 billion in six-month bills was auctioned at a discount rate of 3.570 percent, down from 3.705 percent last week.

In a separate report, 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 3.77 percent last week from 3.88 percent the previous week.

Ford ends 2006 model incentive

DETROIT - Ford Motor Co. on Tuesday ended its employee-pricing incentive on 2006 vehicles, although the discount will remain in place for most 2005 vehicles through Oct. 3.

Ford has been allowing customers to pay the employee price for 2005 vehicles since July. In August, it added the 2006 Ford Escape, Ford Expedition, Ford Econoline and Lincoln Navigator to the discount plan, but Ford removed those 2006 models from the plan Tuesday.

GM is including some 2006 sport utility vehicles and full-size trucks to its employee-discount plan. Chrysler hasn't added 2006 vehicles to its plan.
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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Date:Sep 7, 2005
Words:499
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