Print

Email story

Comment

Email editor

Business Today

By wire services
Published March 31, 2005

WINN-DIXIE WANTS PROCEEDINGS MOVED TO FLORIDA: Winn-Dixie Stores Inc. on Wednesday requested its Chapter 11 bankruptcy proceedings be moved from New York to the company's hometown in Jacksonville. One of the supermarket chain's trade creditors, an Alabama soft drink bottler, objected to what it termed court "shopping." Winn-Dixie disputed the description but asked to move the case to Florida so a debate over the location does not become a "distraction."

GM, DAIMLERCHRYSLER TO DEVELOP HYDROGEN FUEL CELL VEHICLES: General Motors Corp. and DaimlerChrysler AG have signed agreements with the U.S. Department of Energy to develop hydrogen fuel cell vehicles over the next five years, the automakers said Wednesday. GM plans to build a fleet of 40 hydrogen fuel vehicles. Under the program, GM will spend $44-million to distribute the vehicles in Washington, New York, California and Michigan. The Energy Department also will provide $44-million in the deal, which is set to expire in September 2009. DaimlerChrysler will invest more than $70-million in its partnership with the Energy Department, the German-American company said.

MICROSOFT TO OFFER SECURITY UPGRADE: Microsoft Corp. plans this week to release a major security update for Windows Server 2003, the latest in the software company's effort to better safeguard its clients from Internet-based attacks. The update, due out today or Friday, aims to add more security tools for Microsoft's server software, which businesses use to provide services for multiple users on a network.

BUFFETT SAYS VOTE IS "TIDYING UP:" Billionaire investor Warren Buffett said Wednesday an upcoming shareholder vote on proposals to clarify the voting and economic rights of holders of Berkshire Hathaway Class B shares in the event of a merger is a "tidying up" and does not presage any major moves by the company. "The company's not going to be sold, but who knows what happens 100 years from now," said Buffett, 74. "But it's not going to be sold, there's absolutely no chance of that, while I'm alive." Buffett, chairman and chief executive of Berkshire Hathaway Inc., also ruled out any immediate plans to start paying dividends on Class A or Class B shares.

CONTINENTAL PILOTS RATIFY CUTS: Continental Airlines pilots ratified $213-million in wage and benefit cuts Wednesday. Last month, Continental announced tentative 45-month pacts with unions that called for $331-million in such cuts, rounding out the carrier's goal of securing $500-million in annual savings. The airline's two other major unions, representing flight attendants and mechanics, haven't released results of their ratification votes.

PEPSICO EXEC RESIGNS: The head of PepsiCo Inc.'s Beverages & Foods North America is resigning to pursue new career opportunities, the company said Wednesday. Gary Rodkin, 52, had been chairman and chief executive since 2002. PepsiCo promoted two executives to succeed Rodkin. Dawn Hudson, 47, will be chief executive of beverages distributed through the company's bottler network. John Compton, 43, was named president and chief executive of the company's QTG unit, which includes the Quaker Foods and Tropicana/Gatorade divisions in the United States and Canada.

[Last modified March 31, 2005, 01:42:02]