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Business briefs

Briefs and news of note.

By Times staff and wires
Published May 10, 2006

Two seats open on state PSC board

The Florida Public Service Commission nominating council is accepting applications to fill two seats on the PSC, the state's utility regulator. The vacancies will open up in January when the terms of commissioners Terry Deason and Isilio Arriaga are scheduled to expire. Neither commissioner has decided whether to seek reappointment. Applications are available at www.flsenate.gov/pscnc. For information, call (850) 922-5035.

Checkers asks for acquisition approval

Checkers Drive-In Restaurants Inc. asked shareholders to approve its proposed acquisition by private Taxi Holdings Corp., a subsidiary of New York investment firm Wellspring Capital Partners. Votes on the $15-per-share offer will be tallied at a special meeting of Checkers shareholders on June 15. The merger cannot go forward unless a majority of outstanding shares are voted "yes."

Global Imaging plans stock, bond activity

Global Imaging Systems Inc. said its board approved plans to redeem certain bonds ahead of schedule, buy back up to $150-million of common stock over three years and restructure its debt. The Tampa copier distributor said the projects would enhance its acquisition flexibility and permit it to consider issuing dividends to shareholders.

Verizon, Bucs agree to extend partnership

Verizon Wireless said Tuesday it has agreed to a multiyear extension of its "Pewter Partnership" sponsorship of the Tampa Bay Buccaneers. The sides declined to disclose the financial terms or the length of the deal. Verizon's previous five-year sponsorship pact with the Bucs expired at the end of the most recent National Football League season. Under the new deal, Verizon will remain the team's official wireless provider.

AOL job cuts include closing in Jacksonville

AOL is laying off about 1,300 employees - about 7 percent of its worldwide work force - and is closing its call center in Jacksonville, where 780 people work. Other cuts will come from call centers in Ogden, Utah, and Tucson, Ariz. Spokesman Nicholas Graham attributed the layoffs to more savvy customers and better tools for them to help themselves. He said call volume has dropped by about 50 percent since 2004.

Gold hits $700 for first time since 1980

Gold prices surged Tuesday above $700 an ounce, a level not reached since 1980, as funds bought into the market, driven by weakness in the dollar, political tension in the Middle East and upward movement in commodities. Gold has risen 40 percent since November, when the most-active contract passed $500 an ounce for the first time in 20 years.

[Last modified May 10, 2006, 06:34:07]