Hershey’s sale bid hits legal challenge in Pa court
Hershey Foods Corp.’s majority owner argues the attorney general overstepped legal bounds to halt a possible sale. A Dauphin County judge set Sept. 3 for arguments as secret bidding for the 108 year old company advances. Reports say Nestle may bid about 11.5 billion dollars with preliminary per share offers at 82 to 85 dollars. Hershey stock rose about 2.4 percent to 76.80 dollars.
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Harrisburg
Hershey Foods Corp
Pennsylvania
Warren G. Morgan
Dauphin County
Nestle
USA Today
Hershey's
Former WorldCom Controller Sought Silence of Colleague
Former WorldCom controller David Myers allegedly attempted to silence Steven Brabbs, who oversaw European and Asian accounts, by sending a harsh warning as emails released by the House Financial Services Committee show. Brabbs had alerted Andersen about an improper $33 trillion reduction of expenses in WorldCom's international division in spring 2000.
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Washington
WorldCom Inc
David Myers
Steven Brabbs
House Financial Services Committee
WorldCom
Brabbs
Andersen
International
United Airlines to inform workers of cutbacks plan
United Airlines chief executive Jack Creighton said employees will be told by week’s end about proposed pay cuts and concessions as part of a recovery plan to obtain a $1.8 billion federal loan guarantee and halt the carrier’s long financial slide.
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Chicago
United Airlines
Jack Creighton
United
Associated Press
Stocks Rise On Moderate Rally After Profit Taking
Wall Street edged higher as light volume and a prior profit-taking wave gave way to cautious buying. The Dow closed up 46.05 at 8919.01, the S&P 500 rose 7.09 to 947.95, and the Nasdaq gained 11.12 to 1391.74 amid lingering war and Labor Day uncertainties. Investors await more data and third quarter guidance to gauge durability of the move.
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