Ukiah Daily Journal from Ukiah, California on January 26, 2000 · Page 6
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Ukiah Daily Journal from Ukiah, California · Page 6

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Ukiah, California
Issue Date:
Wednesday, January 26, 2000
Page:
Page 6
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6 - WEDNESDAY, JAN. 26,2000 THE UKIAH DAILY JOURNAL ommerce BUSINESS IN BRIEF The Associated Prcsi Debate continues on Microsoft case ; WASHINGTON-Signaling a potential division within ranks ;that could complicate settlement talks and the next important ;phase of the Microsoft trial, some states active in the case believe the Justice Department's plan to break up one of the world's most successful companies may not be the best solution. Although debate continues in secret among the 19 state attorneys general deciding what to recommend about Microsoft Corp., there is a risk the government might fail to bring a unified proposal on sanctions to U.S. District Judge Thomas Penfield Jackson. The next round of courtroom arguments will be Feb. 22. Unless the case is settled, which appears unlikely, the judge will probably rule by April on which antitrust laws Microsoft violated. A hearing to decide Microsoft's fate.could come by spring or early summer. Microsoft must credit rival SEATTLE - A federal judge has ruled that Microsoft must ship products featuring the Java programming language that conform to standards set by the language's owner, arch-rival Sun Microsystems. However, U.S. District Court Judge Ronald Whyte amended an earlier ruling that said Microsoft Could, be in violation of Sun's copyright of the Java language as well as in violation of its contract with Sun. At the urging of an appeals court, Whyte dropped the copyright claim. • ! The most recent development in the ongoing lawsuit, originally filed by Sun in October 1997, came Monday in San Jose, Calif. AT&T profits drop ; NEW YORK - AT&T is making big strides toward building its n$w telephone and Web business over cable TV lines, but the high cost of reinventing the company weighed on fourth-quarter profits. By the end of the year, AT&T had 207,000 subscribers for high-speed Internet access via cable, an increase of 80,000 dur- iijg the final three months of 1999, and the company was installing the service at about 1;QOO homes a day. I Fourth-quarter net income was $1.15 billion, or 36 cents a share, including one-time factors. In the year-ago period, AT&T earned $1.99 billion, or 75 cents a share, including a one-time gain. eBay Inc. posts higher earners , SAN JOSE - Online auction house eBay Inc. topped Wall Street's estimates Tuesday, posting higher than expected fourth- quarter earnings reaped from record numbers of registered users and auctions. ! For the quarter ended Dec. 31, eBay reported net income of $4.9 million, or 4 cents per share, compared with $2.6 million, or 3 cents per share, in the year-ago period. Analysts surveyed by First Call/Thomson Financial had estimated earnings of 2 cents a share. Confidence at its highest level NEW YORK - Consumer confidence, a driving force in the economy's long expansion, has soared to its highest level in the 33 years the statistic has been kept, driven by the booming stock market and plentiful jobs. The Conference Board, which studies business and finance trends, reported Tuesday that its Consumer Confidence Index rose to 144.7 in January, the highest level reached since the business-financed group began keeping such records in February 1967. Wall Street analysts had only expected a reading of 141.5 in the index, which is based on monthly interviews with 5,000 U.S. households and measures consumer optimism about current and future business conditions. ICA/M 'Woolworth' slashes 3,700 jobs NEW YORK - The belt got even tighter at Venator Group Inc. on Tuesday as the retailer formerly known as Woolworth took another stab at restructuring its troubled business by slashing about 3,700 jobs and closing 358 underperforming stores. In recent years, the company has shuttered thousands of stores and sold many of its noncore divisions as its shifted its focus primarily to sporting goods. The retailer will cut about 30 percent of its sales and corporate staff in the United States and Canada. That includes about 600 corporate staffers and 3,100 people who work in its stores. About four of every five jobs eliminated will be in the United States. over the highest prices ever paid for TV commercials so they can join regulars like Anheuser- Busch, Pepsi-Cola and FedEx on this Sunday's NFL championship Super Bowl broadcast. There were only two dot-corns in last year's game - three if you count lingerie marketer Victoria's Secret which advertised its fashion show Webcast. ABC officials say the Internet companies helped push the commercial price to an average of $2.2 million - an astounding $73,333 per second - for 61 half-minute commercials in the game. The top price for an ad was said to be over $3 million. The average is a whopping 38 percent more than the previous record $1.6 million that the Fox network claimed for ads in last year's Super Bowl. FDIC proposing new rules WASHINGTON - The Federal Deposit Insurance Corp., concerned about its biggest losses from bank failures since the early 1990s, is proposing doubling the minimum required funding for banks that specialize in risky loans to people with inferior credit histories. Regulators have warned that the higher-interest loans, called subprime loans, can increase the risk of defaults for the deposit insurance fund. They played a role in some of the eight U.S. bank failures last year. The eight failures and another one in late 1998 cost the FDIC about $1 billion last year - its biggest annual hit since the regional banking crises of the early 1990s. The failures, coming amid a booming economy, have worried regulators and lawmakers. Compounding the concern, the FDIC is predicting that as many as 20 banks could go under this year. Euro slips against the dollar LONDON - Europe's single currency, the euro, slipped briefly to a new low against the dollar Tuesday, with analysts citing the prospect of higher U.S. interest rates as one of several factors in its renewed weakness. Internet companies buying Bowl spots NEW YORK-About a dozen Internet companies are forking »;;; The Nation'sill NORWEST Mortgage Lender A Wolls Fargo Co. Irwlde Write Fargo NhuUflra. 462-0290 245 B. Perkln* St. • UkUh Full Service • Precious Metals • Jewelry • Coins 468-0640 "Since 1980" 303 'A' Talmage Rd., Uklah CARLO ROSSI WINE Blush, Burgundy, CtiaMis, Pafeano, Rhine Peak, Sangria, Wn Rose or White Grenache 4Uter E&J VINEYARDS WINE CafeZnfandel, Hearty Burgundy, Sauvignon Blanc, White Bnfandel or White Greneche 1.5 Liter ANDRE CHAMPAGNE 750 ML E&J BRANDY Original or White 750 ML TURNING LEAF WINE Meriot, Chardonnay, H.VI xc. uar. 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