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Business briefs
A look at business
By Staff and Wire Reports
Published June 30, 2005
PSC council to pick from 24 for vacancies
The Nominating Council of the Florida Public Service Commission decided Wednesday to interview 24 candidates to fill three vacancies on the PSC. The nine-member council voted unanimously to interview incumbent commissioner Rudy Bradley, who faces two pending ethics complaints. Other candidates chosen for interviews include Rivers Buford III, legislative affairs director for the Florida Department of State; Beverlee DeMello, PSC assistant director of regulatory compliance and consumer assistance; Beth Keating, a senior PSC lawyer; James Kelly, director of the state division of consumer services; and Katrina Tew, an aide to PSC chairman Braulio Baez. The council will interview the candidates July 18 at the Tampa Airport Marriott Hotel.
Unocal merger vote set for Aug. 10
Shareholders of oil and gas company Unocal Corp. will vote Aug. 10 on a proposed merger with Chevron Corp. valued at about $16.6-billion, even if Unocal's board subsequently accepts a rival bid from Chinese oil company CNOOC Ltd. Unocal sent proxy materials to its shareholders of record as of Wednesday with a letter from chairman and chief executive Charles Williamson reiterating the board's unanimous recommendation to accept the Chevron bid.
Rush on student loans jams lines
Borrowers flooded the Department of Education and lenders with phone calls as they rushed to beat the deadline to consolidate student loans before interest rates rise. The variable interest rate on federal student loans will rise nearly 2 percentage points after midnight Thursday. The department encouraged filing electronically (www.loanconsolidation.ed
gov).
Northwest will try another fare hike
Northwest Airlines Corp. said on Wednesday that high fuel prices are prompting it to try another fare increase. Northwest said it added $50 each way to fares that had been capped at $499, and added $5 each way to fares that match discount carriers.
United attendants threaten walkouts
United Airlines flight attendants could begin random walkouts Friday if the airline goes ahead with its decision to turn over their pension plan to the federal government.
Judge approves bakery consolidation
A bankruptcy judge on Tuesday approved Interstate Bakeries Corp.'s plan to consolidate operations along the East Coast, which includes laying off 3,000 people.
T-note yields higher
The U.S. Treasury sold $20-billion of two-year notes Wednesday at a yield of 3.65 percent, up from 3.615 percent at last month's auction. The $20-billion is down from $22-billion in May and $24-billion in the 10 previous auctions. The U.S. Treasury also sold $18-billion in 14-day cash management bills at a high discount rate of 3.165 percent.
[Last modified June 30, 2005, 11:16:02]
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