UAL leaders meet in crisis

        Officials of United Airlines' parent company met Wednesday amid the worst crisis in company history — and an uproar over a letter from United CEO James Goodwin that sent the airline's stock plunging.

        United officials declined to discuss the board of directors' agenda and whether it included the possible replacement of Mr. Goodwin, the embattled chairman and chief executive.

        The regularly scheduled meeting was the first since Mr. Goodwin's letter last week, in which he told employees the airline was hemorrhaging cash and “will perish” sometime next year if it doesn't stem huge losses that have worsened since the Sept. 11 terrorist attacks.
       

Hershey to lay off 400

        Hershey Foods Corp., the biggest U.S. chocolate maker, plans to cut 400 jobs, or 8 percent of salaried workers, shut three manufacturing plants and use the savings on marketing.

        Shares of Hershey fell 1 cent Wednesday to $64.00. The stock has gained about 24 percent in the past year.
       

HCA profits up 47%

        HCA, the nation's largest for-profit hospital chain, announced Wednesday that third-quarter profits increased 47 percent on the strength of patient volume and gains from the sale of HCA properties.

        For the three months ended Sept. 30, the Nashville-based company earned $256 million, or 48 cents per share, compared with $174 million, or 31 cents a share, during the third quarter of 2000.

        Shares of Nashville, Tenn.-based HCA fell $2.36, or 5.7 percent, to $38.74 Wednesday.

Amazon.com plunges

        Shares of Amazon.com Inc., the biggest Internet retailer, fell 20 percent after the company reported third-quarter sales that fell short of forecasts and reduced its fourth-quarter estimate.

        Amazon.com declined $1.91 to $7.64. The stock earlier dropped 23 percent to $7.40, its second- biggest percentage fall.

        Amazon.com has racked up $2.87 billion in losses since it was started in 1994.
       

Kodak to cut thousands

        Eastman Kodak Co. is cutting 3,500 to 4,000 more jobs, or 5.1 percent of its work force, as the world's biggest photography company struggles to rebound from a yearlong slump in film sales.

        Kodak already targeted 3,500 job cuts in April.

Diageo offers rum deal

        Diageo PLC, the world's biggest liquor company, plans to sell its Malibu brand of coconut-flavored rum as the price of securing regulatory approval for its joint bid for Seagram Co.'s drinks business, a source close to the potential deal said Wednesday.

        The U.S. Federal Trade Commission rejected the $8.2 billion joint offer by Diageo and France's Pernod-Ricard SA, saying late Tuesday that the buyout would give the two companies an anti-competitive duopoly in the American rum trade.

        Seagram and Diageo are the No. 2 and No. 3 sellers of rum in the United States, behind industry leader Bacardi. Seagram sells Captain Morgan Original Spiced Rum, which Diageo is eager to acquire.

        Captain Morgan is bottled at Seagram's Lawrenceburg distillery, which employs about 600.
       

Fujitsu warns of losses

        Japanese electronics giant Fujitsu Ltd. disclosed plans Wednesday to cut an additional 4,600 jobs as it posted a first-half loss and warned it expects a bigger loss than previously projected for the full year because last month's terror attacks could worsen the global economic slowdown.

        The company's announcement of more job reductions by the end of its current fiscal year in March will bring to 21,000 the number of positions it is cutting.

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