SEC CONSIDERS CITIGROUP CHARGES: The Securities and Exchange Commission is considering recommending charges against two former Citigroup Inc. employees and a current employee, the financial-services giant said Friday. The possible charges relate to the creation and operation of an internal transfer agent unit to serve primarily the Smith Barney family of funds, according to a Citigroup filing with the SEC. The three under investigation by the SEC include Thomas W. Jones, the former chief executive of Citigroup Global Investment Management. The other two were not identified.
PORT MEETING WEDNESDAY: Tampa port commissioners will hold an emergency meeting Wednesday to discuss the future of embattled interim port director Zelko Kirincich. Mayor Pam Iorio has proposed that commissioners choose retired GTE executive William Starkey to replace Kirincich until a permanent director is hired. The meeting will be at 9:30 a.m. Wednesday at Tampa Port Authority headquarters at 1101 Channelside Drive in Tampa.
BOARD MEMBER MANAGING SRI: SRI/Surgical Express Inc. of Tampa disclosed in a filing with the Securities and Exchange Commission on Friday that it is paying board member Charles T. Orsatti $250 an hour to manage the daily operation of the company while it is seeking a new chief executive. SRI's former head, Joseph Largey, resigned abruptly on Sept. 24. Orsatti's work as a paid consultant began immediately. Orsatti joined the board in February. He is a private investor who, until 1995, was chief executive of Fairfield Medical Products Corp./Herman Miller, a manufacturer of critical care medical equipment. SRI provides reusable and disposable surgical supplies to hospitals and surgery centers.
EU MOVES UP ORACLE RULING: European Union regulators will decide Tuesday whether Oracle Corp.'s hostile $7.7-billion bid for rival business software concern PeopleSoft Inc. can proceed, the EU's antitrust chief said Friday. The ruling on the proposed takeover would be two weeks earlier than expected.
HOOTERS OPENS IN CHINA: Hooters Shanghai is open for business. The restaurant chain founded in Clearwater opened its first China outlet on Friday night. Located in an upscale mall in the foreigner-friendly Hongqiao district, the outlet adds to the more than 375 stores operated by the chain famed for its waitresses clad in clingy low-cut tank tops and high-cut shorts. While the chain says appearance is less important than attitude, youth and comeliness appear to be prime requisites for the job.
INTEL SCRAPS TV CHIP: Intel suffered another setback Thursday when it canceled a chip for flat-panel television sets. The chip was a major part of the company's plan to diversify into semiconductors for consumer electronics. Intel spokesman Bill Calder said the company scrapped the "liquid crystal on silicon" chip because it had just completed a strategic review and decided resources were better spent elsewhere.
EX-CONSECO EXEC TO PAY $62.7-MILLION: The former chief executive of Conseco Inc. and his family trusts must pay $62.7-million plus interest to a Conseco subsidiary, which can foreclose on his mansion, a judge has ruled. Steve Hilbert, who co-founded Conseco in 1979, owed that much in interest on $162-million he and his family trusts borrowed to buy stock of Conseco, an insurance holding company.
JAPANESE BANK WANTS TO BLOCK GLAZER PURCHASE: A Japanese investment bank is exploring ways of blocking a possible takeover of Manchester United by Tampa Bay Buccaneers owner Malcolm Glazer. Nomura, Japan's biggest investment bank, said Friday it was working with British investment banker Keith Harris on a financing package for the world's richest soccer club. Harris, chairman of Seymour Pierce and a longtime United fan, wants to build up a stake that would be held by fans and be big enough to ensure the club could not be taken over without their consent. Glazer has raised his stake in Manchester United PLC to 28.11 percent in the past week.
TOBACCO SALES STILL FALLING: Tobacco companies are spending more than ever to market cigarettes but sales are falling, according to a government study released Friday. The six largest cigarette makers spent a record $12.5-billion on advertising and promotions in 2002, the last year for which data is available, according to the Federal Trade Commission study. That was an 11 percent increase from 2001, but U.S. sales fell about 5.5 percent to 376-billion cigarettes.
UNISYS CHOOSES CEO: Unisys Corp., the computer services and equipment company, said Friday that president and chief operating officer Joseph McGrath will become chief executive as of Jan. 1. McGrath, 52, replaces Lawrence Weinbach, 64, who will stay on as chairman through January 2006.
KIDDE PLC REJECTS TAKEOVER BID: Kidde PLC, a British fire and safety equipment maker, said Friday its board had rejected a tentative takeover offer valued at up to $2.3-billion from the conglomerate United Technologies Corp., saying it significantly undervalues the company. Kidde suggested that it was open to a higher offer.
EARNINGS
HCA Inc.: The Nashville hospital chain reported that hurricanes in Florida cut $40-million, or 5 cents a share, from its earnings for the quarter ended Sept. 30.
Nextel Communications Inc.: The wireless telephone service provider reported a 69 percent increase in profits in the third quarter, thanks to continued customer growth and a one-time tax benefit, and boosted guidance for the year.
