FED WILL AUCTION $60b more IN
BID TO AID BANKS
The Federal Reserve announced Friday that it will auction an additional $60-billion in March as it continues to combat the effects of a severe credit crisis. It repeated a pledge to keep holding the auctions "for as long as necessary." The central bank said it will make $30-billion available to cash-strapped banks at each of two auctions, on March 10 and 24.
Gorton's recall extends to Florida
Gorton's Inc. recalled about 1,000 cases of frozen fish in 10 states, including Florida, on Friday after confirming that items a Pennsylvania customer reported finding in her food were pills. The recall is for Gorton's 6 Crispy Battered Fish Fillets, 11.4 ounces. The UPC Code is No. 44400157770, with a date code of 7289G1 and a best-if-used-by date of April 2009.
Philip Morris suit alleges fake butts
Philip Morris USA, the nation's No. 1 tobacco company, said Friday it filed a lawsuit accusing Nice Pak Products Inc., of Orangeburg, N.Y., of importing counterfeit cigarettes and unauthorized use of the Marlboro trademark. Philip Morris filed the federal suit in U.S. District Court in California. Nice Pak makes premoistened wipes.
Group targeting Circuit City board
Wattles Capital Management, a shareholder group, has proposed the ouster of the entire corporate board at Circuit City Stores Inc., the electronics retailer that has struggled to maintain market share.
Update caused LinkedIn shutdown
The online networking site LinkedIn was inaccessible for about an hour Friday just a day after a major update with new features. The site was restored by about 11:30 a.m., the company said.
XM, Sirius willing to wait for okay
XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. said Friday they extended their merger agreement to May 1 as they await approval by federal regulators.
Ex-Tyco execs can appeal convictions
A New York appeals court judge says former Tyco executives L. Dennis Kozlowski, 61, and Mark Swartz, 47, can appeal their 2005 convictions to the state's highest court. Convicted of conspiracy, grand larceny, securities fraud and falsifying business records, they were each sentenced to 81/3 to 25 years in prison.
Shells appoints interim president
Shells Seafood Restaurants Inc. announced Friday that Warren R. Nelson, executive vice president and chief financial officer, was appointed as of interim president, replacing Leslie J. Christon, who left the company. Shells has 23 restaurants in Florida.
WCI delays release of annual report
Ailing homebuilder WCI Communities Inc. will delay filing its 2007 annual report to sort out tax issues, the company said Friday.