Fort Worth Star-Telegram from Fort Worth, Texas on September 29, 2000 · 36
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Fort Worth Star-Telegram from Fort Worth, Texas · 36

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Fort Worth, Texas
Issue Date:
Friday, September 29, 2000
Page:
36
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c DIGEST 2C MARKETS 5-10C MUTUAL FUNDS 9-10C 5 FRIDAY SEPTEMBER 29 2000 Star-Telegram wwwslar-tclegramcom i I Ground time equals air time at LaGuardia By Rip Watson Bloomberg News Raises for United pilots set off a chain reaction WASHINGTON — AMR Chief Executive Donald Carty said delays have reached a crisis level at New York’s LaGuardia Airport with flights of the company’s American Eagle commuter airline spending as much time waiting for takeoff as in the air ‘American Eagle’s average wait on taxiways at the airport last month was 55 minutes the same as for flight duration Carty told a Delays at crisis level for Eagle Carty says House aviation subcommittee For AMR’s American Airlines just 30 percent of flights at LaGuardia have arrived on time this month he said As part of a $40 billion spending bill approved this year Congress lifted restrictions on takeoffs and landings at LaGuardia (More on DELAYS on Page 3C) ' Executive Donald Carty WHAT IT MEANS TO YOU Travelers flying into LaGuardia International Airport can expect some delays especially if connecting to a regional airline 3C Employees at other airlines are demanding similar pay increases By John Schmeetzer ’ Chicago Tribune United Airlines appears to have opened Pandora’s box when it agreed this summer to give its pilots a 25 percent raise Dazzled by the hefty increase their peers wasted little time seeking the same Pilots at Delta Air Lines who have been in negotiations with their management for months notified Delta officials that they expect 25 percent or more Meanwhile American Airlines pilots trounced a contract extension last week that would have given them a token raise of 3 percent Now flight attendants at United are demanding their share Saying they took the brunt of abuse from irate passengers this summer United’s attendants demanded an even sweeter deal — a 30 percent increase that would make them the highest-paid in the industry And if they don’t get it they’ll refuse to cooperate with crew scheduling if United’s merger (More on PILOTS on Page 3C) Highlights CYBER MERGER "-Two of the largest players in the fast-growing business of managing and maintaining powerful computers and software for Internet companies are combining in a $65 billion stock deal 2C ITALY TO GET F-15S Italy plans to lease 34 used p-16 fighters under a program in which Lockheed Martin Aeronautics Co of Fort Worth would help provide $780 million in renovations and support 2C RAILROAD Bill A campaign-season bill to raise benefits for thousands of retired rail workers and cut taxes for railroads appears headed for passage in Congress despite concerns it could drain $15 billion from the budget surplus and permit risky investment in private securities 4C GAIN RAUSCHER SOLD Royal Bank of Canada owner of that country’s largest securities firm agreed to buy Dam Rauscher which was founded through a merger in 198 1 of Dain Bos worth Co of St Paul Minn and Rauscher Pierce Refsnes of Dallas 4C ‘BLUETOOTH’ TECHNOLOGY Motorola and its chief rivals are racing to make the first “Bluetooth” mobile phones available to consumers by year’s end promising to usher in a new phase of wireless technology But analysts caution that the new technology has a ways to go to deliver on its much-touted potential 4C r“”“T For today’s Star-I I Telegram and more LkJ news and features “ goto wwwstar-telegramcom To search the Metroplex go to Vwwwdtwcom ( Local businessman who made his fortune on auto air conditioners and cruise controls and then acquired a large part of the Stockyards joins venture to sell Russian-made vehicles in Latin America Growth report puls nip I stocks Fort Worth businessman Holt Hickman leans on a Gazelle truck made in Russia by AutoGaz By Sandra Baker Sur-Telegram Staff Writer FORT WORTH — Businessman Holt Hickman made his money in automobile air conditioners and cruise controls Then he added real estate to his portfolio amassing a large portion of the city’s historic Stockyards district What’s next? Russian-made cars Hickman has entered a joint venture to sell Russian cars to South and Central Americans Starting next week Hickman and his partners — East Coast Trading Co in New Jersey and JSC Gaz one of Russia’s biggest automakers and producer of the AutoGaz line — will begin selling six car and truck models Motorists in Fort Worth or anywhere in the United States for that matter won’t be able to buy the cars which haven’t been through safety and emissions tests in the United States But the Hickman-led company East Motors is using Fort Worth as its base Hickman has opened a 2400-square-foot showroom inside the Wellington Square shopping and office complex he owns at 6777 Camp Bowie Blvd on the city’s west side Inside are six AutoGaz vehicles: a Sobol (More on HICKMAN on Page 3C) NEW VENTURE: RUSSIAN CARS Fort Worth businessman Holt Hickman and two partners will begin selling Russian-made AutoGaz vehicles in South and Central America 0 Vehicles to be sold: cars i trucks minivans vans 0 Partners: Hickman East i Coast Trading Co New I Jersey JSC Gaz producer of AutoGaz 0 AutoGaz highlights: I Founded in 1932 it is one of Russia’s biggest : automakers Has invested i $15 billion in new models j and is focusing on global I marketing using U S I technologies Vehicles I haven’t been tested tor i safety and emissions in the United States and j aren’t sold here 0 Employees: 100000 0 Other tidbit: Hickman’s SCSFrigette Co in Fort Worth will supply some of the vehicles with air conditioners and other accessories produced locally SOURCE The Hickman Cos And news out of OPEC gives financial markets hope that oil prices will soon decline By Gregg Fields Knight Ridder News Service NEW YORK — Casting aside recent fears over rising oil prices and a slowing economy the stock market staged a broad advance Thursday after new reports suggested that strong growth and stable prices are likely to remain the economy’s defining forces In the regular session the Dow Jones industrial average closed up 19570 points at 1082406 its highest close this week and the blue chips’ biggest advance since it rose 19841 on May 15 Broader stock indicators also had big gains The Nasdaq composite index rose 12202 to 377832 and the Standard & Poor’s 500 index was up 3172 at 145829 The action was a contrast to recent stock market reversals but some skeptics believe that the rally could prove short-lived For one thing after the market closed Apple Computer announced its fourth-quarter earnings will be “substantially” below expectations because sales are short of estimates “We’ve clearly hit a speed bump” said Apple Chief Executive Officer Steve Jobs Should Apple a bellwether of the tech sector drop sharply in Friday’s trading it could produce a corresponding decline in the Nasdaq However Wall Street had reason to invest with confidence Thursday Most notably oil prices descended amid signs that the Organization of Petroleum Exporting Countries which has been meeting in Caracas Venezuela will increase supply and thus drive down prices Saudi Arabia’s representative at the meeting said his country is “ready to supply whatever amount necessary to stabilize the world market” “Our energy team believes that oil will average $25 a barrel in 2001 with the price decline beginning in the fourth quarter” said a new report from Merrill Lynch (More on MARKETS on Page 5C) Explorer buyers soon to get choice on tires Bubble Wrap firm leases site on 1-20 Sealed Air Corp rents space in Primera building Customers can pick their brand on the next model Ford says By Justin Hyde The Associated Press DETROIT — Ford Motor Co said Thursday that it will let customers decide whether the next version of its Explorer sport utility vehicle rides on Firestone tires The move comes as both companies’ images have been battered by a recall of 65 million tires — most of them installed as standard equipment on Explorers — that have been linked to at least 101 deaths and more than 400 injuries Ford dealers are already reporting that some buyers are unwilling to accept Explorers with Firestone tires (More on T1RFS on Page 3C) The Associated PressMirmi Iikw Gerard Barthelemy shows a Michelin LTX tire on a Jeep Wrangler during media day Thursday at the Pans Auto Show By Steve McLinden Star Telegram Stufl Wnter ARLINGTON — Arlington’s Interstate 20 corridor will soon have a new corporate tenant Saddlebrook NJ -based Sealed Air Corp the makers of Bubble Wrap and other packaging materials has leased 11 4 (XX) square feet of distribution space in the Primera Cos building completed last spring The company will occupy half of the 228000-square-foot complex at 3700 New York Ave just n’orth of 1-20 according to Primera President Ralph Heins Sealed Air is the latest company to take up residence in one (Moa- on I IRM on Page 3Cj 1 3SSS irHfiTi jtffnrfnTTOii $sjk&

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