BURLINGTON INDUSTRIES ANNOUNCES LAYOFFS AND BONUSES
Date: 11 January 2002
By Bloomberg News
Bloomberg News
Burlington Industries, textile maker, will lay off 4,000 workers as part of reorganization; asks judge hearing its bankruptcy proceedings to approve up to $13 million in executive bonuses to retain top employees; seeks approval of $1 million bonus payment to Douglas J McGregor, chief operating officer S)
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ALCOA BIDS FOR REST OF A NORWEGIAN ALUMINUM PRODUCER
Date: 10 January 2002
By Bloomberg News
Bloomberg News
Alcoa offers 4.6 billion kroner ($516 million) for 60 percent of Elkem, Norwegian producer of aluminum and other metals, that it does not already own; bid is rejected as too low by Finn M Jebsen, chief executive of Orkla, Norwegian consumer-goods company that owns 32 percent of Elkem (S)
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SCHWAB PLANS TO EXPAND RETIREMENT PLAN BUSINESS
Date: 10 January 2002
By Bloomberg News
Bloomberg News
Charles Schwab Corp is creating division to sell services like retirement plans to companies, as company seeks to expand its presence in market with $3.5 trillion in client assets; division will be led by Walt Bettinger (S)
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OXFORD EXPECTS ENROLLMENT IN HEALTH PLANS TO RISE
Date: 10 January 2002
By Bloomberg News
Bloomberg News
Oxford Health Plans expects enrollment to rise 2 percent in 2002; stock rises $3.51, to $32.75 (S)
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MARTHA STEWART SELLS $45 MILLION OF HER STAKE
Date: 10 January 2002
By Bloomberg News
Bloomberg News
Martha Stewart sells $45 million stake in Martha Stewart Living Omnimedia to ValueAct Capital Partners, her biggest share sale since company sold stock to public in 1999; sale represents 9 percent of her stock and 6 percent of company; Stewart says sale is for diversification and estate planning purposes (S)
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DANAHER AGREES TO BUY MARCONI'S DATA SYSTEMS UNIT
Date: 11 January 2002
By Bloomberg News
Bloomberg News
Danaher Corp agrees to buy data systems business of Marconi PLC for $400 million (S)
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CALPINE RECEIVES $1 BILLION LINE OF CREDIT
Date: 11 January 2002
By Bloomberg News
Bloomberg News
Calpine, power plant developer, has been granted $1 billion in unsecured credit, increasing its finances for third time since its credit rating was cut month ago (S)
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COACH INC. SAYS QUARTERLY PROFIT BEAT THE FORECAST
Date: 10 January 2002
By Bloomberg News
Bloomberg News
Coach Inc's profit in second quarter ended Dec 29 is at least 96 cents a share, compared with 88 cents year earlier; sales rose 12 percent, to $235.8 million from $211 million (S)
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IMATION, MAKER OF DATA STORAGE DISKS, TO CUT 500 JOBS
Date: 11 January 2002
By Bloomberg News
Bloomberg News
Imation Corp, maker of data storage disks, will cut 500 jobs, or 14 percent of its work force, as part of restructuring that will reduce pretax fourth-quarter profit by $60 million to $65 million (S)
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EQUIFAX CUTS 700 JOBS AND TAKES $37 MILLION CHARGE
Date: 11 January 2002
By Bloomberg News
Bloomberg News
Equifax Inc, consumer-credit reporting company, has eliminated 700 jobs, or about 12 percent of its work force, and has closed offices after July spinoff of payment-processing business, Certegy Inc (S)
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