Business Today

PUMPING MORTGAGE SALES: Bank of America said it will hire 100 more mortgage specialists in the Tampa Bay area, split between downtown St. Petersburg and an office near Tampa International Airport. The jobs are among 850 being added nationwide to Bank of America's mortgage operations, which employ 10,000 people. The bank also said it plans to double its mortgage sales force to 4,000 people over the next two years.

SEC PROBING IMCLONE: ImClone Systems Inc. said Wednesday the Securities and Exchange Commission is investigating why the company has delayed reporting its 2002 performance and its restatement of 2001 results. ImClone made the disclosure as it delayed reporting again, saying it won't meet its own deadline of April 15. Last week, ImClone said it was postponing the reports because former president and chief executive Sam Waksal failed to pay $60-million in taxes on stock options and warrants he exercised.

UAL GETS UNION OK: Using the leverage of a May 1 bankruptcy court deadline, United Airlines has secured concessions from the baggage handlers and public contact workers union. The union gave initial approval Tuesday to contracts that would save the bankrupt carrier $2.6-billion over six years. That leaves United in need of concessions from its mechanics union to achieve the cutbacks it seeks to avoid liquidation.

VERIZON WINS DELAY: The Florida Public Service Commission voted Wednesday to grant Verizon Communications' request for a delay of the commission's order in November that the company offer lower wholesale rates to competitors. Verizon had argued that it was entitled to a delay while it appealed the order to the state Supreme Court. By voting for a delay, the PSC acted against the recommendation of its staff.

VANILLA WAVE: PepsiCo Inc. is hoping to turn up the heat this summer in its rivalry with Coca-Cola Co. by launching its own vanilla-flavored cola. The company ended speculation Wednesday about the new drink by confirming it will introduce Pepsi Vanilla late this summer. Also on tap from Pepsi is Mountain Dew LiveWire, an orange-flavored Dew; new packaging that mimics Coca-Cola's "Fridge Pack"; and a Mountain Dew tie-in with the movie The Hulk from Universal Pictures. Pepsi also plans to offer 1,000 people a chance to compete for $1-billion live on a WB Network show to air in fall.

SCRUSHY PLEADS 5TH: Faced with more than 50 questions about his role in an alleged $2.5-billion fraud scheme and his personal finances, Fired HealthSouth CEO Richard Scrushy refused to answer Wednesday, instead invoking his right to avoid self-incrimination during a hearing in federal court over whether his personal assets should remain frozen. Scrushy will be charged in a criminal indictment, his attorney said. Eight former HealthSouth executives already have pleaded guilty, and a ninth has agreed to do so.

INTERNET FRAUD CLIMBS: Fraud on the Internet rose sharply in 2002, with the FBI reporting 48,252 complaints referred to prosecutors -- triple the number of the year before. By far the most common complaint was auction fraud, followed by non-delivery of promised merchandise, credit card fraud and fake investments, according to the FBI report. The total dollar loss of Internet fraud reported in 2002 was $54-million, compared with $17-million the year before.

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