Wednesday, January 12, 2000
TRISTATE BUSINESS SUMMARY
Comair officially absorbed by Delta
The deal is done. Comair is now officially a subsidiary of Delta Air Lines Inc.
The $1.91 billion buyout of the regional airline was announced in October and completed Tuesday during a Comair shareholders' meeting in Atlanta. With Delta owning 90 percent of Comair stock going into the meeting, the merger was assured and the vote a formality.
Erlanger-based Comair becomes part of Delta Connection Inc., a new subsidiary that will oversee the Atlanta-based airline's commuter business. David Siebenburgen, former Comair chief executive, was named chief executive of Delta Connection.
Comair shareholders who have not yet tendered their shares should receive a letter explaining how to get the money they are owed.
Delta said in October that it would pay $1.8 billion, or $23.50 a share in cash, for the 78 percent of Comair it did not already own. It also said it would assume $110 million of Comair debt.
E-mail monitors tested by Cincinnati Bell
Cincinnati Bell is testing a new service that allows customers to monitor their e-mail from a small appliance similar to a Caller ID box.
Bell has not set pricing or rollout for the service, developed by Notify Technology Corp., a San Jose, Calif., provider of call and message notification products.
Notify's Visual Got Mail service using its eView 100 Internet voice appliance allows customers to see up to 10 new e-mail headers from up to five e-mail accounts without turning on their computers. The eView 100 displays the e-mail header, including the specific account, the sender's name, subject line and whether a document is attached.
The service contacts the customer's Internet or e-mail service provider to check messages, so it does not depend on whether the customer receives e-mail via telephone line or cable modem, Bell said.
International Paper to cut 2,000 more jobs
International Paper Co., North America's biggest paper and wood-products maker, which employs several thousand in Greater Cincinnati, said it will eliminate 2,000 more jobs this year companywide and take a fourth-quarter charge of $111 million for the cost-cutting move.
The cuts represent about 2 percent of International Paper's work force and are in addition to the 1,600 jobs the company eliminated last year after buying Union Camp Corp. in April.
Spokesman Jack Cox said it was too soon to say where all the cuts would be made, although some have already been made in Oregon.
In Greater Cincinnati, IP's operations include the Covington-based Xpedx distribution business; Beckett Paper, a fine paper maker in Hamilton; and a packaging research and development unit in Loveland.
SDRC lands $3.5M order from Seagate
Seagate Technology Inc., the manufacturer of disk drives, has placed an order valued at more than $3.5 million for software and services from Clermont County's Structural Dynamics Research Corp. (SDRC).
SDRC said Seagate would standardize on SDRC's Metaphase product data management and I-DEAS product development software.
“Using SDRC's out-of-the-box Metaphase products, we will significantly accelerate the deployment of our SeaLink information system, allowing us to design and build Seagate products anywhere in the world,” said Tom Porter, Seagate's chief technical officer.
— From staff and wire reports
Kroger to put 'Cosmo' under wrap
AOL stock slide cuts value of Time Warner deal
Critics say merger will stifle diversity
Media getting feet wet on Net
Office Suites Plus geared to flexibility, convenience
Ameritech lowers telephone rates
Bank One earnings drop likely may drop
TRISTATE BUSINESS SUMMARY
INDUSTRY NOTES: RETAIL
PEOPLE ON THE MOVE
Bayer must back off aspirin claims
TRISTATE MARKET SPOTLIGHT
