Print

Email story

Comment

Email editor

Digest

In brief

By TIMES WIRES
Published October 10, 2006

Dolans try again to buy all Cablevision shares

The Dolan family is making another offer to buy out public shareholders of Cablevision Systems Corp., more than a year after their last attempt failed due to objections from board members. The new deal values the cable TV operator at $7.9-billion plus the assumption of $11.3-billion in debt. The family would offer public shareholders $27 per share in cash, a 12.8 percent premium to the stock's closing value on Friday. The Dolans control the company through a special class of stock. The news sent Cablevision's shares soaring $2.57, or 10.74 percent, to close at $26.50 on Monday on the New York Stock Exchange.

CEO quits Airbus after three months on job

Airbus chief executive Christian Streiff resigned Monday after a little more than three months as head of the troubled European planemaker, and parent company EADS named one of its own co-CEOs to replace him. European Aeronautic Defence and Space Co. said Louis Gallois will succeed Streiff in the top job at Airbus while continuing in his current role as joint head of the Franco-German defense group. Streiff's departure deals a fresh blow to crisis-hit Airbus, which stunned investors in June by doubling the A380's production delay to one year, increased it again this month to two years and said the holdups would wipe $6.1-billion off EADS profits over four years.

Sales, prices drop for Pinellas homes

Pinellas County's real estate market continues to chill. From September 2005 to September 2006, sales slumped 43 percent, inventory nearly tripled to 16,202 units and median prices dropped 10 to 15 percent, to $157,500 for condos and $217,000 for single-family homes. The numbers come from the Pinellas Realtor Organization, but the trends are similar across the bay in Tampa. Investors and speculators that fueled sales last year have largely pulled out of the market.

Comair to cut wages for flight attendants

Comair, a subsidiary of Delta Air Lines Inc., said Monday it will impose wage cuts and changes in work rules for the regional airline's 970 flight attendants starting Nov. 15. The action comes more than two months after a federal bankruptcy judge gave Comair permission to throw out its contract with the flight attendants. Comair was seeking concessions of $7.9-million a year as part of a package of cuts from its flight attendants, pilots and mechanics.

[Last modified October 9, 2006, 22:20:45]