The Journal News from White Plains, New York • Page 27

SECTION Tl Ti Vs -i Calendar 2D Dllbert 2D Tech-e 3D-4D IV III If 1 im 1 IV. 1 She Journal News Monday, March 18, 2002 Briefing Top gainers and losers Hudson Technologies gained 16.13 percent last week to lead public companies in Westchester, Rockland and Putnam counties. Worldcom Inc. fell the most, declining 19.48 percent iv; mi i a Gainers Hudson Technologies 16.13 USB Holding Co. CSS 15.44 Winfield Capital ESSI 15.38 13.33 Star Struck Ltd.

13.33 Frontline Communications Losers Micros to Mainframes 8.33 E3 9.22 ffB Drew Industries 10.40 RCN Corporation mmmma ii Interliant Inc. Worldcom Inc. Source: Bloomberg News Photos by Frank Becerra Jr.The Journal News Richard Shuyler, chief executive officer of Atlas Air since January 2001, has a vision: "Ten years from now, I'd like to see Atlas Air leading the heavy cargo biz the way UPS and FedEx lead the small package side of the business." With an eye toward long-term growth, the Harrison-based company last year acquired Polar Air Cargo of California, which has route rights In Japan and Asia. CORPORATE PROFILE -Bumpy 'ride for Atlas Air New CEO guiding air cargo carrier through economic slowdown Atlas Air Worldwide Holdings Inc. Ticker: CGO (NYSE) Headquarters: 2000 Westchester Purchase, NY 10577 Telephone: 914-701-8000 Web site: www.atlasair.com Worldwide work force: 1,747 Tri-county work force: 380 1 i i I Rochelle Kass The Journal News HARRISON Few people would have envied Richard H.

Shuyler last year. Shuyler took over Atlas Air Inc. in late January, a day after company founder Michael Chowdry died in a plane crash. Within months, the bottom fell out of the air cargo traffic in-, dustry, and domestic and worldwide economies struggled. The company's once-stunning rapid growth was stunted.

As grieving company insiders asked, "What would Michael do?" when decisions had to be made, concerned outsiders questioned whether Shuyler could measure up to his predecessor. Now, however, industry experts say Shuyler mayhave what Atlas needs to guide the company's development during these turbulent times. The chief executive candidly acknowledges that he's no Michael Chowdry. Chowdry was a visionary and entrepreneur who saw the business potential of leasing aircraft, crew, maintenance and insurance to the air cargo industry. In 1992, he founded Atlas Air in Denver, and led the now-Harrison-based company to a prominent position as the For many, one job is not enough More than 5 percent of workers were moonlighting in Jan.

Michael Diamond Asbury Park (NJ.) Press At least three times a week, Tara Smith's workday begins at 8:30 a.m. and ends at midnight She spends days coordinating patient care for a home-care service, nights renting out videos at Blockbuster, and dinner at her mother's Eatontown, apartment sleeping. "I try to take a good 15-, 20-minute nap, change clothes and get up and go," says Smith, 33. "And then I'm on the rest of the night" Smith is one of millions of workers nationwide who moonlight in a second job, a routine that leaves them little time to spend with their families. For Smith, the grueling pace is taken out of necessity.

Her home-care job pays less than $25,000 a year. Her job at a Blockbuster video store pays $8 an hour. She and her husband, who works at Monmouth County (NJ.) Division of Social Services, are raising his 15-year-old son. "It has to be done," Smith says. "I wouldn't be able to pay the rent pay the car note.

You need transportation to get to and from work." A slight drop More than 6.9 million people nationwide, or about 5.3 percent of the labor force, worked more than one job in January, according to the U.S. Labor Department That's a little lower than the 7.1 million in the same situation a year ago. Economists said the recession has reduced the overall number of jobs. Lawrence D'Angelo of Keans-burg, works 40 hours a week as a Monmouth County park ranger for about $28,000 a year. And he recently took another job inspecting playground equipment D'Angelo's wife stays at home with their three young children, and they need die second job for extra income.

In the summer, it means D'Angelo wakes at 4 a.m., works all day, and comes home, drained. "You find time to be with the family," D'Angelo says. "I love my kids too much not to. But my 7-year-old just said the other day something to the effect that I don't play enough with her, I come home and go to sleep. That hits home." D'Angelo's experience isn't uncommon, experts say.

Men traditionally have worked multiple jobs to allow women to stay home and raise their families. But as women became more prevalent in the workplace in the 1980s, they also began working two jobs, says Jean KimmeL an economics professor at Western Michigan University. The number of multiple jobholders peaked at 8.5 million, or 6.6 percent of the work force, in November 1996, up from 4.8 million in 1980. And the number of moonlighters is almost evenly divided between men and women, according to the Labor Department Some spending cash Brenda Mersinger, 38, works full-time as a special education teacher's aide at a middle school and part-time nights and weekends at a Lord Taylor department store. Her husband works as a truck driver, and they make enough to support their three children.

But Mersinger uses the Lord Taylor money to pay for trips to the movies and restaurants. She says she doesn't want to give it up. "I got accustomed to having that extra money," she says, and apparently she's not alone. "Just at Lord Taylor alone, I know three teachers." Other workers have taken second jobs that are more rewarding or at least more fun than their primary jobs. William Henel, 47, of Brick, is an assistant manager at a women's clothing store.

In the evenings, he works as an umpire for little League baseball games. Henel gets paid $40 a game, and he calls six to eight games a week during the summer. Often he doesn't get home until 10 p.m., but he enjoys it so much that he's trying to be certified to umpire high school games. "I've always enjoyed baseball, and I get the best seat in the house behind the catcher," Henel says. "I'm too old now (to make it a career) but if I realized how much I enjoyed it, I would have done it" third largest air cargo carrier in the United States, with more than $790 million in sales in 2000.

Shuyler worked side-by-side with Chowdry from 1994 until the crash, rising from senior vice president and chief financial officer to executive vice president of strategic planning. "(Michael) was one of the most personable people that you could ever know, the Will Rogers type. He never met somebody he didn't like and who didn't like him, propelling him throughout his career in terms of his ability to do business around the world with a diverse group of people," Shuyler said. "I'm not the outgoing type that Michael was," he said. "I certainly don't have the way with customers that he had.

What I hope I bring to the com- Atlas Air founder Michael Chowdry, who died in a plane crash in January 2001, was the recipient of many industry accolades. He built the company Into the third largest air cargo carrier in the country, with more than $790 million in sales in 2000. average annual growth of about 7 percent, traffic declined in 2001 by about 8 percent, said Robert Dahl, project director at Air Cargo Management Group, a Seattle-based aviation consulting firm. Please see ATLAS, 2D pany is a sense of stability and ongoing capitalization on the strengths that Michael had already built for Atlas." As bad as business was because of the worldwide recession, air freight was virtually grounded after the Sept 11 terrorist attacks. After 30 years of Merrill ShermanThe Journal News Burger King to sell meatless burgers Diageo PLC's Burger King will offer meatless burgers containing 10 grams of fat beginning today to attract more customers to the world's second-biggest fast-food restaurant chain.

The flame-broiled patties will contain vegetables, whole grains and spices, topped with lettuce, tomatoes and a new reduced-fat mayonnaise, served on a sesame seed bun, Burger King said in a statement They will sell for about $1.99 each. Burger King plans to introduce 14 products, including a Chicken Whopper and a grilled-beef sandwich called Back Porch Grillers by June and begin a new advertising campaign to bring more people to its fast-food restaurants. The patties, which are to be sold at all 8,248 U.S. Burger King stores, are made with water chestnuts, mushrooms, brown rice, green peppers and other grains and vegetables, spokeswoman Kim Miller said. Companies still scaling back their spending PriceWaterhouseCoopers found that several companies it dubbed "trendsetters" are scaling back their spending for much of the current fiscal year even though if becoming clear that the recession is ending.

Nearly half the chief executives of the nation's fastest growing companies surveyed by PriceWaterhouse, or 47 percent, said it was more difficult to devise a budget for 2002, compared to the same time last year, because of "unsettled world events and economic volatility." Of that number, 23 percent said coming up with a realistic budget was much more difficult while 24 percent said it was a "little more" difficult Just 11 percent of the companies polled 405 of the fastest growing businesses in the United States in the last five years said it was less difficult The remainder, or 40 percent, said things were about the same as lasto year. Two percent weren't sure. Gateway plans to sell ready-made PCs Gateway a direct seller of build-to-order personal computers, plans to sell ready-made models at most of its 277 stores because some customers don't like placing orders and waiting for delivery. Gateway, the second-biggest direct seller of PCs, said in a statement it will offer an $899 model and a $1,299 model and will later add more computers. "Most of the people who came to the stores were not aware you could not take a computer home with you that day," said Gateway spokeswoman Ashley Wood.

THE WEEK AHEAD Major business events and economic events scheduled this week: Today Treasury bill auction, 2 p.m. Start of federal trial at which nine states and the District of Columbia are seeking antitrust penalties against Microsoft Corp. Tomorrow Commerce Department reports on international trade for January, 8:30 a.m. Federal Open Market Committee meets to discuss interest rates. Hewlett-Packard shareholders vote on Compaq deal strongly opposed by Hewlett and Packard family members.

Wednesday Commerce Department reports on housing starts for February, 8:30 a.m. Treasury Department reports on the federal budget for February, 2 p.m. Thursday Labor Department reports on consumer price index for February and on weekly jobless claims, 8:30 a.m. Freddie Mac reports on mortgage rates. The Conference Board releases its Index of Leading Economic Indicators for February.

The Associated Press and Bloomberg News contributed to this report. HP-Compaq vote appears too close to call Proxy deadline tomorrow, tally may take weeks i i The Associated Press A customer looks at Compaq and Hewlett-Packard computers at a store in Palo Alto, Calif. The sons of both HP founders have lambasted the company's $22 billion plan to acquire Compaq Computer casting doubt on the deal and challenging the leadership of HP chief executive Carly Fiorina. Not mincing words The proxy fight over the acquisition of Compaq Computer Corp. by Hewlett-Packard Co.

has been a rhetorical carnival. A sampling, culled from advertisements, public documents and interviews: "You may have received a letter from Walter B. Hewlett opposing HFs proposed merger with Compaq. Walter Hewlett, an heir of HP co-founder Bill Hewlett, is a musician and academic who oversees the Hewlett family trust and foundation. While he serves on HFs board of directors, Walter has never worked at the company or been involved in its management His motivations and investment decisions are likely to be very different from your own." HP, in a letter to shareholders.

They're trying to paint him as a guy who is an emotional vagrant and that's not fair. I have found him to be a very insightful businessman. The notion that he's a mammoth caught in the ice, a screwball stuck on old religion, is just not the guy we've known on the Agilent board." Gerald Grinstein, chairman of HP spinoff Agilent Technologies on HFs attacks against Hewlett There is now a real danger HP will die of a broken heart" David Woodley Packard. "HFs presentations suggest that HP would forever be doomed to stand still and repeat 2001, like 'Groundhog if the merger does not happen." Walter Hewlett Brian Bergstein The Associated Press PALO ALTO, Calif. -Hewlett-Packard Co.

chief Carly Fiorina told her 88,000 employees in a November e-mail that talk of a feud between her and sons of the company's founders was merely "lazy reporting" by journalists trying to sell newspapers. "It is far easier to dream up a feud that doesn't exist than to research complex, far-reaching, industry-changing business concepts," she wrote. Perhaps Fiorina was right there was no feud. Because "feud" would be a huge understatement for the all-out war that has raged the last five months over HFs plans to buy Compaq Computer Corp. in a stock deal now valued at about $22 billion.

The bickering should end tomorrow, the deadline for HFs 900,000 stockholders to send in cards indicating how they stand. Hundreds of shareholders also are expected to come to a Silicon Valley auditorium to vote their stakes and speak their minds. The contest appears too close to call. Although Compaq shareholders are expected to approve the deal Wednesday, HP results might not be known for weeks because independent proxy counters will painstakingly verify each vote. Both sides say early tallies of proxies already mailed in show the vote going their way.

Whatever happens, this deal will forever change HP, a proud Not everyone sees that as a plus. "If she was as enthusiastic and paid as much attention to running the business as opposed to doing the deal, Hewlett-Packard shareholders would be in a lot better shape," said David Katz, president of Matrix Asset Advisors, which will vote its HP and Compaq stock against the acquisition. HP and Hewlett sometimes talked past each other, failing to address specific issues. Each accused the other of violating tenets of corporate governance: Hewlett criticized HP by alleging it was hiding lucrative pay packages for Fiorina and Compaq's chief, Michael Capellas; HP slammed Hewlett for missing three key board meetings. "In my personal opinion, HFs institution two engineers started in a Palo Alto garage 64 years ago.

Even longtime business observers have been stunned by the tenor of the proxy fight, which has matched Fiorina and her management team against dissident director Walter Hewlett and his advisers, who are intent on blocking what would be one of the world's biggest high-tech mergers. The deal is also opposed by David Woodley Packard and other heirs of the late founders. Each side has spent tens of millions of dollars on newspaper and Internet ads, road trips for meetings with investors, legal fees and public relations blitzes. "Carly is a warrior," said HP board member Patricia Dunn, chief of Barclays Global Investors. "She's been very ON THE WEB VVWW.THU0URNALNEWS.COM Pleas tot MERGER, 2D 1.