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PUC POSTPONES US WEST DECISION: Colorado authorities postponed a decision to get a week Wednesday on whether to approve US West's petition to decrease its in-state long-distance phone rates and the fees which long-distance carriers cover the Baby Bell to finish calls on its own networks. While the 3 members of the Colorado Public Utilities Commission suggested they support the reductions, that would have effect at the beginning of 1999, they noticed that US West hadn't turned over crucial documents detailing the discounts. The business has proposed to reduce its own in-state longstanding rates by $12 million yearly. US West also wishes to decrease the access charges that long distance carriers cover to finish calls from precisely the exact same quantity.
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NATHAN'S GOBBLES UP ROGERS CHAIN: The Inferior Kenny Rogers Roasters Restaurants will likely be offered into the Nathan's Famous Inc. hotdog series for about $ 1 million in money. Nathan's stated Wednesday the buy, which will be subject to approval by the bankruptcy court, hinges on whether 30 of Kenny Rogers' 38 franchisees agree on the bid's provisions. Back in April, Roasters Corp., which owns the Rogers restaurants, also filed for protection from its creditors under Chapter 11 of this U.S. Bankruptcy Code.

KIMBERLY-CLARK BUYING COMPANY: Kimberly-Clark Corp., the world's biggest manufacturer of petroleum products, has agreed to purchase Ballard Medical Products for about $ 764 million in stock to expand its lineup of disposable health-care solutions. Dallas-based Kimberly-Clark would like to boost earnings of these health products as surgical masks and gowns. The purchase will add about $150 million in yearly earnings, increasing Kimberly-Clark's health-care business sales to approximately $700 million annually, the business said. (Bloomberg)

IRIDIUM RAISES MORE MONEY: Iridium LLC, supplier of the world's very first satellite-based worldwide phone network, said Wednesday it has secured approximately $1.55 billion in financing from banks to continue to keep its business going. The business also stated a partner, Motorola Inc., has agreed to postpone payments on its $500 million maintenance contract covering the satellite community for 10 weeks. Iridium anticipates the new financing to carry the business until its business develops enough to become self explanatory. (Bloomberg)

CBS NAMES CHAIRMAN: CBS Corp. has named a longtime exterior manager the organization's new chairman, leaving Mel Karmazin as the best executive accountable. David McLaughlin will succeed the retiring Michael Jordan and also take the task of non-executive chairman on Jan. 1, CBS explained. Karmazin, now the organization's president, was awarded Jordan's CEO name two weeks ago. Karmazin had been managing CBS' daily surgeries since being named president in April. While directing the organization's radio business to powerful gains, Karmazin has been slashing jobs within an cost-cutting attempt to reunite its own flagship television system to profitability. (AP)

BANK EARNINGS EXPECTED TO RISE: U.S. banks are expected to report that fourth-quarter earnings rose approximately 6 per cent, as higher profits from regional banks offset declines at a few of the country's main creditors. "The fourth quarter is going to be a span of their haves and have-nots in regards to earnings," explained James Ellman, portfolio director for the90-million AIM Global Financial Services Fund, a component of AIM Capital Management Inc., which manages $110 billion. Regional banks, such as Wachovia Corp., Fleet Financial Corp. and Mellon Bank Corp., will report that earnings climbed an average 16 percent from higher credit card charges, commercial loans, asset administration and home mortgages. Citigroup, which is planning massive growth, in addition to BankAmerica Corp., J.P. Morgan & Co. and other large banks, are expected to report that gains dropped an average of 4% from last year because of reduced trading sales and underwriting and advisory fees. The following year's outlook can be blended. Global banks continue to be vulnerable to slowing markets in Brazil, Asia, Eastern Europe and Russia, in which a lot of the associations dropped money this season, experts state. (Bloomberg)

NISSAN RECALLING CARS: Nissan Motor Corp. is recalling over 29,000 Infiniti Q45 cars because amplifiers in back speakers can short-circuit and potentially cause fires. The voluntary recall involves Q45s made from June 1990 through June 1992 for its 1991 and 1992 model years. The business said Wednesday the recall attempt covers 28,970 vehicles at the U.S. and 609 in Canada. The automobiles were equipped with back speakers which have amplifiers that may develop a brief circuit in many of conditions, together with higher temperatures, Nissan said. (AP)
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The new company intends to construct a $43 million, 106-mile amassing header from Glenrock, Wyo., north to a point near Gillette. A gas-treating facility will be set up in Glenrock. The lineup also will be expandable to 700 million cubic feet daily, the partners said.

After assembly for 12 hours Tuesday at Memphis, in which FedEx is established, the union's board voted 15-3 in favour of endorsing the contract. Copies of this contract, in addition to pro and con opinions on the arrangement, will be sent to members Monday. The payoff, which will give FedEx's 3,300 pilots a 17 percent increase over five decades and improve flight programs, could finish a last-minute dispute with the business. It would also be the primary labour contract in FedEx. (Bloomberg)

MORTGAGE APPLICATIONS FALL: Software for U.S. mortgages dropped a week to the next week in a row as mortgage rates dropped, the Mortgage Bankers Association of America said Wednesday. The MBA's mortgage software index dropped 10.3 percent to 459.3 from the week ended Dec. 18 out of 512.2 the previous week. Separately, rates on 30-year and 15-year fixed-rate mortgages climbed from the previous week, according to a weekly main mortgage market indicator published by BanxQuote Inc., a New York-based financial information firm. The average rate on 15-year fixed-rate conforming mortgage loans climbed 0.07 percent point to 6.50 percent. (Bloomberg)
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RMI DIVISION MOVES INTO W.VA: A subsidiary of Denver-based Rocky Mountain Internet Inc. has gained approval from state regulators in West Virginia to offer local phone and long distance phone services there. Rocky Mountain Broadband said it will start the services early next season. RMI currently offers Internet-access support in Charleston, W.Va.
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