By Compiled from Times wires
Published June 20, 2003
PROGRESS CEO SPEAKS: Progress Energy Florida Inc. president and chief executive Bill Habermeyer denied Thursday that the St. Petersburg utility had improper contact with the Florida Public Service Commission regarding a disputed rate refund. In a conference call with reporters, Habermeyer described suspicions of improper contact as "hurtful" and said "we are abiding by the rules scrupulously." The state Office of Public Counsel plans to question Habermeyer and other Progress executives regarding communication with the PSC about the refund. The PSC staff had sided with the public counsel in the refund dispute but shifted to a neutral position on the requests of two commissioners whose aides had received briefing material from a Progress consultant.
GD GETS DESIGN DEAL: General Dynamics Ordnance and Tactical Systems, a St. Petersburg unit of defense contractor General Dynamics Corp., said Thursday it was awarded a $4.8-million contract from the U.S. Air Force for the design and development of the BLU-113 warhead system. Work will be performed at the company's Niceville facility.
GRUDEN BACKS OJ: Tampa Bay Buccaneers head coach Jon Gruden will be the spokesman for the Florida Citrus Department's new advertising campaign, according to details released Thursday of the new "pewter partnership." The five-year contract will pay $4.2-million to the Super Bowl champs. The "Citrus Matters" campaign is to help preserve a federal tariff on orange juice imports from Brazil. The partnership also includes a 12-by-29-foot scoreboard sign, concession and ramp billboards, and display of a Citrus Matters logo during instant replays. Players, cheerleaders and the team mascot may appear on behalf of citrus twice a year. The Bucs will give citrus a full-page color ad in its game program and feature it on its Web site.
MATTHEWS WINS AWARD: Matthews Construction of Tampa has been named national small business of the year in a contest sponsored by Aetna Insurance. The 41-year-old construction contracting firm that employs 39 people was selected from among 360 companies nominated by Aetna agents. Matthews' recent projects include renovations at Sacred Heart Church, Plant High School and Jefferson High School in Tampa.
TEAMSTERS SENT PACKING: Northwest Airlines Corp. flight attendants ousted the Teamsters, their union representative for 26 years, in favor of a new, independent union formed by workers unhappy with the national union's oversight. About 55 percent of flight attendants who voted approved the change, said Andy Damis, an officer in the new Professional Flight Attendants Association.
PANEL FIGHTS FCC CHANGES: The Senate Commerce Committee voted Thursday to restore ownership restrictions that limit how media companies can merge and grow, aiming to counter a Federal Communications Commission decision this month to relax the rules. The legislation would roll back changes that would allow individual companies to own television stations reaching nearly half the nation's viewers and combinations of newspapers and broadcast stations in the same city. The bill also would change radio ownership rules. "I would like the FCC to start all over," said Sen. Kay Bailey Hutchison, R-Texas.
PEOPLESOFT BEGINS BUYING: PeopleSoft Inc., the business-software maker battling a hostile takeover attempt by Oracle Corp., put into play its earlier offer to buy up J.D. Edwards & Co.'s shares under a $1.75-billion agreement. Investors may choose $14.33 a share in cash or $7.05 in cash and 0.43 share of PeopleSoft. The offer, which expires July 17, carries out the deal as amended Monday. The buyout begins a day after Oracle, the world's second- biggest business-management software maker, raised its offer for PeopleSoft by 22 percent to $6.3-billion.
Earnings
Darden Restaurants Inc.: The owner of the Olive Garden and Red Lobster chains, said its fourth-quarter profit declined because of higher costs and because sales slipped last month in some of its restaurants open more than a year. Darden was expected to earn 34 cents, the average estimate of analysts surveyed by Thomson Financial. Darden's stock rose 35 cents to $19.50 in New York Stock Exchange trading.
