Diebold to acquire Mosler's assets

        Diebold Inc., North Canton, Ohio, maker of automated-teller machines, has agreed to buy assets of defunct rival Mosler Inc. for about $28 million.

        The purchase includes the Hamilton offices of Mosler, which shut down suddenly in early August before filing for Chapter 11 bankruptcy reorganization, terminating 1,800 employees. A spokesman for Diebold, which outbid ADT Security Services for the Mosler assets, said the purchase to close this month includes Mosler's former offices on Berk Boulevard outside Hamilton.

        Mosler, started in 1867 in Cincinnati, employed about 300 in Hamilton. Diebold gets the right to sell, install and service Mosler equipment.

        The former Mosler business could add $100 million a year to revenue, Diebold said.
       

Cincinnatian fined in investment scheme

        A federal judge in Florida has fined a Cincinnati man $50,000 for his role in deceiving investors in a scheme that promised weekly returns of 16 percent, the Securities and Exchange Commission said Monday.

        The SEC said a default judgment was entered against Robert E. Gerwin in U.S. District Court in central Florida. The agency had accused Mr. Gerwin of being a sales agent for Titusville businessman Earl Abbott, whose promotion of nonexistent “prime bank securities” offering 16 percent weekly returns over 40 weeks drew $3.55 million from investors in 1998.

        The SEC said Mr. Gerwin's actions cost investors $245,000. In addition to the fine, the court issued an order against Mr. Gerwin barring him from violating anti-fraud provisions of federal securities law.
       

Delta reaches out to frequent fliers

        Delta Air Lines on Tuesday made it easier for its frequent fliers to redeem awards. The Atlanta-based carrier now allows SkyMiles members to book free travel online at www.delta.com/ awardticket.

        The new feature is good for travel only in the United States, including Hawaii and Alaska. Members can still book free travel by phone.

        In addition, the airline Tuesday extended its double-miles promotion for the second time. SkyMiles members will receive double miles through Dec. 15, and the bonus miles are also good toward elite level status for 2002.

        Delta has also reduced the miles necessary for a free trip for travel through Nov. 15 by 10,000 miles. A free coach ticket, with restrictions, costs 15,000 miles and a free first class ticket, with restrictions, costs 25,000 miles.
       

Hillenbrand to change end of its fiscal year

        In an effort to reduce the complexity of its operations, Hillenbrand Industries Inc., the Batesville, Ind., casket and health products maker, said it will switch the end of its fiscal year from the Saturday nearest Nov. 30 to Sept. 30 starting in 2002.

        The company said the switch will eliminate an alternating 52-week and 53-week fiscal year and bring the company's reporting more in line with customers and industry peers.
       

Cadence gets funding for more growth

        Cadence Network Inc., the Cincinnati-based facility cost management company, said it has obtained additional funding that should support its growth through next year when the 4-year-old enterprise expects to turn a profit.

        The amount and terms of the new funding weren't disclosed, but Cadence said it was led by Insight Venture Partners and Cinergy Ventures, the unit of Cinergy Corp. that led Cadence's formation.

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