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HOLLAND & KNIGHT EXPANDS TO MIDWEST: Holland & Knight is buying a 40-lawyer firm in Chicago, giving the Tampa firm its 17th location in the country and first presence in the Midwest. Terms of the merger with Burke, Weaver & Prell were not disclosed. Ed Ryan, Burke's managing partner and executive partner of the new Chicago office, said he was approached by Holland & Knight. "Their thinking is, to be a truly international firm you have to be in the Midwest, and generally speaking that means Chicago," Ryan said. After the merger, Holland & Knight will have more than 900 attorneys, making it the sixth-largest law firm in the United States and among the top 10 in the world. Already the largest firm in Florida, Holland & Knight recently opened an office in Buenos Aires, its third international site.

AMAZON TO BUY STAKE IN AUDIO COMPANY: Inc. said it will pay $20-million for a 5 percent stake in Audible Inc., which provides Internet-delivered spoken-audio services, including audio books, that can be downloaded on personal computers. As part of the deal, Amazon will promote Audible's content and services for $30-million over three years.

AOL PARTNERS WITH AIRLINE: America Online Inc. and American Airlines said Monday they will launch a program in the spring to let customers earn and redeem travel miles by shopping for air travel, goods and services on AOL Web sites. The firms said they have a three-year pact for the new customer-loyalty program. Financial terms were not disclosed.

HEIST PLANS NAME CHANGE: Clearwater-based C.H. Heist Corp. plans to change its name to Ablest Inc. following a pending $20-million sale of its industrial maintenance business to Onyx Industrial Services Inc. of Houston. Heist said it will focus its ongoing business on staffing services, a business the company now conducts through its Ablest subsidiary. Heist will hold a March 6 special meeting of shareholders to consider the Onyx sale and change of the company name.

TREASURY AUCTION: Interest rates on short-term Treasury securities rose in Monday's auction. The Treasury Department sold $7.5-billion in three-month bills at a discount rate of 5.560 percent, up from 5.385 percent last week. An additional $6.5-billion was sold in six-month bills at a rate of 5.705 percent, up from 5.520 percent. The new discount rates understate the actual return to investors: 5.731 percent for three-month bills and 5.972 percent for a six-month bill. In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills rose to 6.17 percent last week from 6.13 percent the previous week.


United Parcel

Services Inc.

The Atlanta-based company reported significant growth in its logistics and e-commerce operations for the quarter ended Dec. 31. Results for the quarter include a onetime $1.44-billion tax assessment. UPS went public in November with the biggest public stock offering in history, $5.47-billion at an opening price of $50 per share.

4thQtr Year Ago

Revenue $7.45-bil $6.66-bil

Net Income $661-mil $482-mil

Per Share 56 cents 43 cents

YearYear Ago

Revenue $27.05-bil $24.79-bil

Net Income $883-mil $1.74-bil

Per Share 77 cents $1.57

Medical Manager Corp.

The company said income for the quarter ended Dec. 31, excluding non-recurring items, was down as a result of increased investment in its CareInsite division, which processes transactions for doctors via the Internet. Its quarterly results include a pretax gain of $24.8-million on the sale of investments. Medical Manager is based in Elmwood Park, N.J.; its physician practice management division is based in Tampa.

2ndQtr Year Ago

Revenue $79.9-mil $65.1-mil

Net Income $17.4-mil $2.83-mil

Per Share 43 cents 8 cents

Digital Lightwave Inc.

The Clearwater maker of monitoring equipment for fiber optic networks posted its third consecutive quarter of double-digit revenues and earnings growth. Fourth-quarter revenues and earnings were both records. Revenues for 1999 doubled those of 1998.

4thQtr Year Ago

Revenue $17.5-mil $8.3-mil

Net Income $3.9-mil -$6.2-mil

Per Share 13 cents -23 cents

Year Year Ago

Revenue $50.5-mil $24.2-mil

Net Income $5-mil -$29.8-mil

Per Share 17 cents -$1.13