21 Feb 2001
Page 1
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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Feb 21, 2001
Page
1
Energy East, the parent company, plans to unite NYSEG and RG&E creating one of the Northeast region’s largest utilities. The merger cements the firm’s leadership as a combined service provider across New York with enhanced scale and regional reach.
Crouse Hospital plans Chapter 11 bankruptcy to stabilize finances after banks refused more time to renegotiate roughly 20 million dollars in long term debt and over 20 million owed to vendors. Chief executive Edward Wenzke says the move protects patient care and shields against creditor lawsuits as losses mount and Medicare payments strain operations.
Napster offers to pay major labels 150 million annually for five years plus 850 million to independent labels yearly in exchange for dropping the copyright lawsuit. The plan envisions monthly subscriptions from 2.85 to 9.95 dollars, ending free downloads by July, with 5 million users first year and over 17 million by year five. Universal Music Group dismisses the proposal as insufficient to protect artists and rights.
Upstate New York utility Energy East proposes to acquire RG&E and NYSEG in a merger that would create a large Northeast energy company. The deal, valued around 14 billion dollars, would freeze electric rates through 2008 and aims to save about 50 million annually by combining operations, with no layoffs planned.
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