St. Petersburg Times
Online: Business
August 22, 2002  
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Today’s headlines
Fewer Americans are satisfied with their jobs
Workers in New England have the highest dissatisfaction at work.

Analyst downgrades TECO stock
The Tampa utility's rating is lowered to "sell" by A.G. Edwards & Sons over concerns about wholesale business.

Veracruz leaders seek strong ties to bay area
A trade delegation from the Mexico state meets with local businesses to discuss opportunities.

Enron inquiry aiming higher
After a guilty plea by an insider who promises to cooperate, Justice aims at the former chief financial officer.

US Airways will drop 200 daily flights
ARLINGTON, Va. -- US Airways plans to reduce its flight schedule by about 13 percent, from 1,550 daily departures to 1,350, as part of a restructuring plan designed to allow the airline to emerge from bankruptcy as a profitable carrier.

AOL pays AT&T billions to untangle joint venture
Protracted negotiations end with AT&T receiving cash, stock and a share of a cable company.

Hasbro restores 'Kung-Fu grip' on GI Joe figures
The popular toy is taking a step back in time as its maker brings back the once-popular feature.

FDA: Ruling on Paxil ad wrong
LOS ANGELES -- A federal judge was wrong to ban national TV commercials that claim the anti-depressant Paxil is not habit-forming, the Food and Drug Administration said in a new court filing.

Business Today
TECO RATE INCREASE: The state Public Service Commission has approved a smaller-than-requested interim rate hike for Peoples Gas System, the natural gas unit of TECO Energy Inc. Peoples Gas had originally asked for a temporary 1.6 percent rate hike for residential customers ahead of an additional hike next year that would result in a double-digit permanent increase for residential customers. But citing TECO's ability to cope with a smaller rate hike with proceeds from wholesale gas sales, the PSC granted a smaller 0.6 percent interim rate hike that raises the bill of a typical household using 20 therms of natural gas per month by 17 cents to $27.34, effective in about a month. The PSC will hold a public hearing on the proposed permanent rate hike on Sept. 24 at noon in the Lake Forest Ballroom of the Doubletree Hotel on West Shore Boulevard in Tampa.

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