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Business Today

Albanese takes over at Ernst & Young

By wire services
Published June 11, 2005

Marion Albanese will become the first female managing partner in Florida for Ernst & Young when she takes over the Tampa office at the end of this month. Dick Dobkin is retiring from the position after 37 years with the accounting and consulting firm, which has about 220 employees in Tampa. He said he plans to continue his civic activities, which in the past have included serving as chairman of the Greater Tampa Chamber of Commerce and its Committee of 100. Albanese is the partner in charge of Ernst & Young's tax practice for northern and central Florida.

State's grapefruit crop will be smaller

Florida's grapefruit crop will be slightly smaller than predicted, but the orange forecast remains unchanged from last month, agriculture officials said Friday. The grapefruit crop forecast for June decreased by about 200,000 boxes from last month to an estimated 12.8-million boxes, which will be the smallest crop since the 1930s. Each box weighs 85 pounds. The orange crop forecast for June remained unchanged from last month at 151.2-million boxes, which will be the smallest in 13 years if it holds. Each box of oranges weighs 90 pounds.

The Federal Trade Commission on Friday cleared the way for Chevron Corp. to acquire Unocal Corp. for $18 billion, voting 4-0 to settle a 2-year-old complaint against Unocal alleging anticompetitive practices. The settlement ends a legal fight between Unocal and the FTC over the energy company's rights to a patent for reformulated gasoline.

Northwest Airlines Corp. complained the loudest when Delta Air Lines Inc. capped many of its one-way fares at $499 in January. And on Friday, Northwest was the one to try to push those fares higher, tacking $50 each way onto fares aimed at business travelers. If it sticks, it'll be the largest of several fare hikes this year.

The U.S. trade deficit rose to $56.96-billion in April as a big jump in exports was swamped by record foreign oil prices and heavy American demand for imports. The Commerce Department reported Friday that exports and imports climbed to record levels. Imports rose 4.1 percent to $163.38-billion, led by a higher foreign oil bill. Exports were up 3 percent to $106.42-billion, thanks to strong demand for American-made commercial aircraft, computer chips, industrial machinery and cars. The April deficit, which was the fourth largest on record, was up 6.3 percent from a revised trade gap of $53.56-billion in March.

The European Union and China agreed Friday to limit surging Chinese textile exports, settling a dispute that threatened to cause a major trade disruption. The agreement lays down staggered increases in Chinese textile exports over the next three years. The growth rates will rise each year through 2007, and limits will be abandoned in 2008.

Big Lots Inc., the largest U.S. retailer of discounted and overstocked goods, named Steven Fishman chairman and chief executive officer. Fishman, 54, will succeed Michael Potter, who in January said he was resigning to move with his family to the West Coast.

[Last modified June 11, 2005, 00:25:17]