TWA official urges AA deal

        A top Trans World Airlines Inc. official urged a judge Friday to approve the planned sale of the troubled airline's assets to AMR Corp.'s American Airlines instead of a group backed by billionaire Carl Icahn.

        In a hearing before U.S. Bankruptcy Judge Peter Walsh, TWA chief financial officer Michael Palumbo testified the American bid would protect future employee health and retirement benefits, while Mr. Icahn's offer would not.
       

Amazon CEO investigated

        The Securities and Exchange Commission is investigating stock sales by Amazon.com chief executive Jeff Bezos just before a negative report on the company was released, The New York Times reported Friday.

        Documents filed with regulators on Feb. 2 and Feb. 5 indicated that Mr. Bezos intended to sell 800,000 shares of Amazon stock worth roughly $12.2 million.

        A week earlier, Amazon executives received an advance copy of a research report compiled by Lehman Brothers that questioned the company's ability to continue operating through 2001.
       

Marketing boss retires

        Ford Motor Co. said Friday its global marketing chief will retire this month as the world's second-largest automaker pushes to prop up soft U.S. sales and reverse its losses overseas.

        Bob Rewey, 62, Ford's group vice president for Global Consumer Services and North America since January 2000, will step down March 23, becoming the second top marketing executive to leave Ford recently.
       

Dial to trim spending

        Dial Corp. plans to reduce capital spending by about 13 percent this year as the maker of Purex detergent and Renuzit air freshener seeks to revive sales with new products. Dial expects capital spending this year to be about $40 million, down from $45.9 million last year, the company said in a filing with the U.S. Securities and Exchange Commission.
       

GE's Welch got $68.4M

        General Electric Co.'s Jack Welch, who is retiring as chairman and chief executive, received $16.7 million in salary and bonus last year, and $51.7 million from exercising options and stock appreciation rights. Mr. Welch also got 3 million options to buy General Electric stock, exercisable when GE shares reach $57.31.
       

OPEC to cut output again

        OPEC next week will cut oil production for the second time this year, heralding continued high energy costs at a time when world economic growth is slowing, traders and analysts said.

        The group will agree March 16 to reduce daily supplies by as many as 1 million barrels. Members want to keep their benchmark price at $25 a barrel.

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