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Business Today

By wire services
Published April 29, 2005

APPLE SUED ON EVE OF TIGER'S DEBUT: Apple Computer Inc., maker of iPod digital-music players and Macintosh computers, was sued by Tiger Direct Inc. for allegedly infringing its trademark with the new "Tiger" Mac software package scheduled for release today. Tiger Direct, a Miami company that sells computers and related products on the Internet, said the software package threatens to dilute its trademarked name. If the court grants Tiger Direct's request for an injunction, Apple's rollout of the product could be stopped. The new Mac OS X Version 10.4 will sell for $129, Apple said. Macintosh computers shipped today will come with the Tiger software installed.

SENATE APPROVES UTILITY BOND BILL: The state Senate voted 39-0 Thursday to approve a bill that would enable electric utility companies to issue corporate bonds to cover the cost of storm-related damage. Bond issues would be subject to the approval of the Florida Public Service Commission. Utilities say this method of storm cost recovery would lead to lower surcharges on customer bills than those they have requested in recent applications to the PSC. However, the surcharges would be collected over a longer period of time. The House is scheduled to vote on similar legislation next week.

SPITZER FILES SPYWARE SUIT: New York Attorney General Eliot Spitzer sued a major Internet marketer Thursday, blaming it for secretly installing software that delivers nuisance pop-up advertisements and can slow and crash personal computers. Spitzer accuses Intermix Media Inc. of redirecting computer users to Web sites where ads get displayed, adding unnecessary toolbars to Web browsers and delivering unwanted ads that pop up on computer screens. Christopher Lipp, senior vice president and general counsel for Intermix, denied promoting or condoning spyware.

TYSON PAYS FINE: Tyson Foods Inc. agreed Thursday to pay a $1.5-million civil fine to settle federal regulators' charges that it failed to fully disclose lavish perks provided to former chairman Don Tyson, including $38,000 in oriental rugs and antiques, and the use of houses in England and Mexico. Don Tyson will pay an additional $700,000 civil fine to settle charges by the Securities and Exchange Commission.

REGAL BUYS THEATERS: Regal Entertainment Group, the country's largest motion picture exhibitor, is expanding its presence in the Southeast with a $127.6-million cash deal for 22 theaters from North Carolina-based Eastern Federal Theatres. Meanwhile, the company said it was closing another deal announced last month for seven theaters in Maryland, Florida, Pennsylvania and Virginia owned by R/C Theatres of Maryland for $31-million in cash. Theaters include Parkplace Movies 16 in Pinellas Park.

SEVEN SUE DENNY'S FRANCHIESEE: Seven men of Middle Eastern descent have sued a South Florida Denny's restaurant franchisee and one of its managers for $28-million, saying they were kicked out because of their ancestry and compared to Osama Bin Laden. Restaurant Collection Inc.'s owner, Alfonso Fernandez, said the allegations are false.

Syniverse Holdings Inc.: The Tampa telecommunications services company said revenue for technology interoperability services surged 52 percent in the quarter ended March 31, while wireless network services revenue rose 8 percent. But the company saw revenue continue to drop for call-processing and business-network services.

Shells Seafood Restaurants Inc.: The 26-store Tampa chain blamed increased capital expenditures for much of the decline in earnings during the quarter ended March 28. Shells opened a restaurant in Clearwater Beach and remodeled six during the quarter. Same-store sales rose 6.8 percent year-over-year, while the number of shares of stock outstanding grew 43 percent.

Kellogg Co.: The nation's top cerealmaker said its earnings grew 16 percent as the Battle Creek, Mich., company's new products and improved sales of snack foods lifted results. The company also improved its earnings outlook for the rest of the year and raised its quarterly dividend by 10 percent.

MarineMax Inc.: The Clearwater boat retailer said same-store sales grew 11.4 percent year-over-year in the quarter ended March 31. CEO William McGill Jr. attributed part of the growth to strong boat-show sales. The company forecast 2005 earnings of $1.75 to $1.80 per share.

Raytheon Co.: The Waltham, Mass., defense contractor reported a 30 percent increase in quarterly profit and beat Wall Street's expectations despite the costs of settling an accounting investigation and shareholder lawsuit.

Microsoft Corp.: The Redmond, Wash., computer giant said earnings nearly doubled from last year, when the company incurred legal charges of $2.53-billion, but revenue failed to meet Wall Street expectations.

Procter & Gamble Co.: The nation's largest household products maker said quarterly earnings rose 13 percent, driven by volume increases across all the Cincinnati company's business units that were partly offset by continued marketing investments.

Exxon Mobil Corp.: The world's largest publicly traded oil company said quarterly earnings soared 44 percent, mainly because of strong crude and natural gas prices. The Irving, Texas, company said it will boost its share repurchase rate by $1-billion in the second quarter.

Comcast Corp.: The nation's largest cable television company said its profit more than quadrupled as more customers signed up for its premium cable and Internet services.

Dow Chemical Co.: The Midland, Mich., chemical company, the largest in the country, said quarterly earnings nearly tripled, driven by significant price increases and solid volume.

Wendy's International Inc.: The Dublin, Ohio, company said quarterly earnings fell 2.8 percent from last year as sales at its namesake fast-food chain were hurt by inclement weather and an incident in San Jose, Calif., in which a female customer claimed she found a finger in a bowl of chili.

Waste Management Inc.: The nation's largest trash hauler posted essentially flat quarterly profit as one-time charges for the Houston company offset a revenue boost from higher prices.

DaimlerChrysler AG: The German-American carmaker said quarterly earnings plummeted by 30 percent, dragged down by losses at luxury unit Mercedes. DaimlerChrysler still beat analysts' estimates.

[Last modified April 29, 2005, 00:43:31]