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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 10, 2005
Page
9
Crude oil futures rose above 55 a barrel on Wednesday amid strong demand and cold weather while a weak dollar supported prices despite rising U S supplies. Prices later eased but stayed over 50 percent higher than a year earlier with light crude peaking at 55.65 before settling at 54.77 per barrel.
Blockbuster Inc reports a slim fourth quarter profit and plans to restate finances to correct lease accounting errors. Shares rise over 8 percent as the company extends its nearly one billion dollar offer for Hollywood Entertainment Corp. to March 24 from March 11.
Crompton Corp plans a about 1.55 billion stock purchase of Great Lakes Chemical, creating a leader in plastics and petroleum additives, flame retardants, and pool chemicals as Great Lakes shares rise about 13 percent. William Clay Ford Sr. retires from Ford Motor Co. board after 50+ years, to become director emeritus in May at age 80.
At the CeBIT show in Hanover Germany handset makers unveil phones that do far more than call. Samsung debuts the SCH 770 with seven megapixel camera and bright display while Sony Ericsson Walkman models push music playback and tri band roaming. Siemens introduces Animated Instant Voice Messages offering text to speech synced with animated lips on user photos.
The Senate advanced a sweeping overhaul to U S bankruptcy laws aimed at limiting debt forgiveness for medical bills and consumer debt. The bill would introduce an income based test, require credit counseling, and shift some creditor priorities while facing opposition from Democrats led by Edward M Kennedy who warn it harms low income workers and single mothers.
The speaker promises a universal win for everyone in a marketing pitch offering a free home measurement and installation explanation with no obligation. The message emphasizes a no-pressure service visit to assess the house and discuss installation details.
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