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Page 2: Allegiant Air sets course for Greensboro, N.C.

By Times staff, wires
Published March 16, 2007

Allegiant Air sets a course for N.C. airport
Discount carrier Allegiant Air will begin flying between St. Petersburg-Clearwater International Airport and Greensboro, N.C., on May 24. Allegiant will make round-trip flights three times a week, on Tuesdays, Thursdays and Sundays. The airline is offering an introductory fare of $49 each way, taxes and fees not included, through April 7. After that, the lowest fare will be $69 one-way before taxes and fees.

Walter unit joins climate exchange
Jim Walter Resources Inc., a unit of Walter Industries of Tampa, has joined the Chicago Climate Exchange, the world's first voluntary, legally binding greenhouse emissions reduction, registry and trading program.

Caremark's shareholders to vote on CVS
After months of arguments from rival bidders, Caremark shareholders will decide today in Nashville whether to accept the CVS offer favored by managers or hold out for the chance to be taken over by Express Scripts. As expected, CVS Corp. shareholders on Thursday approved a stock and cash buyout valued at $26.5-billion. Analysts believe CVS may have the edge over Express Scripts Inc., whose bid is slightly higher at $27.2-billion but hasn't yet passed antitrust scrutiny. The CVS bid has already been approved by the FTC.

Board of Trade gets $9.9B offer
The 159-year-old Chicago Board of Trade found itself the target of a possible bidding war Thursday when electronic futures market IntercontinentalExchange Inc., of Atlanta, made a surprise $9.9-billion all-stock bid, threatening its $8-billion deal to merge with the crosstown Merc.

Inflation jumps on gas, energy prices
Inflation at the wholesale level soared in February, pushed higher by gasoline and other energy prices and the largest increase in food costs in more than three years. The Labor Department reported that wholesale prices surged 1.3 percent last month, the biggest increase since November and more than double the expected 0.5 percent gain. Cost pressures also showed up in cigarettes, alcoholic beverages, appliances and children's toys and games.

OPEC's curbs could push crude higher
OPEC decided Thursday to stick to already agreed-on output levels while paying more attention to curbing overproduction - a decision that could push prices higher by taking up to 700,000 barrels of crude a day off world markets. OPEC members have generally expressed satisfaction with their oil fetching around $60 a barrel in recent weeks.

Cisco will pay $3.2B for WebEx
Cisco Systems has agreed to acquire the online meeting company WebEx Communications for about $3.2- billion in cash, a takeover that furthers Cisco's push beyond its core market for networking gear and into the lucrative arena of business communications.

[Last modified March 15, 2007, 23:18:01]