CKE SELLS RESTAURANTS: CKE Restaurants Inc. said it sold 105 of its company-owned Carl's Jr. and Hardee's restaurants to franchisees for $46.9-million as part of a plan to reduce its debt. The company sold 48 Los Angeles-area Carl's Jr. restaurants to an existing franchisee for $32.5-million, and 12 other Carl's Jr. restaurants in two separate transactions totaling $4.3-million. CKE also sold 45 Birmingham, Ala.-area Hardee's restaurants to a franchisee for $10.1-million. CKE is the largest stockholder of Checkers Drive-In Restaurants Inc. of Clearwater.
BLACK & DECKER TO SETTLE AD CHARGE: Black & Decker has agreed to settle government charges that the company claimed some of its residential lock products were "All American Made" when they actually contained many foreign parts and were assembled abroad. The Federal Trade Commission charged in a statement that the Kwikset Corp., a Black & Decker subsidiary, used false or misleading advertising and packaging for its lock products in violation of the government's "Made in USA" standard. Kwikset is based in Irvine, Calif.
WINN-DIXIE FILES SECURITIES REGISTRATION: Winn-Dixie Stores Inc. filed with the Securities and Exchange Commission to sell $1-billion in debt securities and warrants to buy debt. The S-3 filing allows the Jacksonville grocery retailer to register the securities in advance and sell them when market conditions are favorable or when financing needs arise. Winn-Dixie said it will use the net proceeds from the securities sale for repayment of debt, capital expenditures and working capital. The registration also includes $1-billion in previously registered securities that remained unsold, giving the company the ability to raise $2-billion.
AMERICAN STANDARD PLANS JOB CUTS: American Standard Cos. will cut 1,200 jobs and close a plant to eliminate duplicate positions and save $50-million a year. The job cuts _ about 2.1 percent of American Standard's work force _ will be spread among its businesses. American Standard's products include faucets, truck brakes and Trane air conditioners. Its shares rose $2.13 to $47.50.
FLEET SUED OVER PRIVACY COMPLAINTS: The attorney general of Minnesota is suing Fleet Mortgage Corp., accusing the Boston company of violating consumers privacy rights by sharing their account numbers and other personal information with telemarketers. The lawsuit, the latest in a series of efforts by Attorney General Mike Hatch to fight corporate invasions of privacy, seeks an injunction, restitution for consumers and other relief under state laws. Fleet disputed the charges.