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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Sep 20, 2004
Page
3
A federal judge paused proceedings in a $6.5 billion IBM pension lawsuit. The suit claims IBM's cash balance plan adopted in the 1990s discriminated against about 140,000 older workers and seeks a historic pension judgment if not settled.
United Airlines said it is in talks with its unions about an additional 500 million in cost cuts as part of an exit plan from bankruptcy. The move would add to 655 million in annual savings identified two weeks earlier and 2.5 billion in wage and benefit cuts made a year ago, underscoring severe financial distress.
Roxio Inc plans to relaunch Napster as a public company with a new ticker, focusing on selling and delivering music online. The move follows acquiring Napster brand and Pressplay, selling its software business for 80 million, and touting a growing online revenue path amid rivals like Microsoft Yahoo EMI Virgin and Apple. Napster targets a $9.95 monthly subscription with a Go tier, adding portable transfer, while analysts weigh staying power and profitability.
The Washington Post Today notes the first Enron trials begin amid questions about improper dealmaking. It lists a busy week with the Federal Reserve and Fed officials meeting to discuss rate hikes, a consumer credit survey, housing data, and regulatory testimony and events shaping economic indicators through the week.
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