Copyright 2000 Chicago Sun-Times, Inc.
Chicago
Sun-Times
September 20, 2000, WEDNESDAY, Late
Sports Final Edition
SECTION:
FINANCIAL; BREAKFAST BRIEFING; CHICAGO; Pg. 76
LENGTH: 602 words
BODY:
United deal lowers costs: study
The merger of US Airways and
United Airlines will result in substantial ticket-price savings for
passengers who are used to changing airlines when they fly, an airline-funded
study has found. But the study, prepared by University of Illinois economist Jan
Brueckner for United, appears unlikely to defuse the controversy that has
surrounded the proposed $ 11.6 billion acquisition of US Airways. Critics of the
combination contend it will result in less competition and, as a consequence,
higher ticket prices for consumers. CBOT extends online hours
Directors
of the Chicago Board of Trade, the largest U.S. futures exchange, voted Tuesday
to allow online buying and selling of grains at the same time that its
auction-style trading pits are open. CBOT directors voted unanimously to expand
online trading that currently occurs from 10:10 p.m. to 6 a.m. Chicago time on a
system co-developed with Eurex, CBOT spokesman David Prosperi said. Pit trading
begins at 9:30 a.m. and ends at 1:15 p.m. The new trading hours for grains,
subject to a vote of CBOT members, will be 10 p.m. to 4 p.m., the same hours
that financial futures and options trade at the CBOT, Prosperi said.
Sears, CheckFree join forces
Sears, Roebuck and Co. and
CheckFree said Tuesday that Sears' 60 million credit card customers can view and
pay their Sears bills online through their choice of nearly 200
CheckFree-powered Web sites. Customers can access bills online, view bill
details and approve their bill payment using the CheckFree sites. The agreement,
whose dollar value was not disclosed, is the largest business relationship
between a retailer and an electronic billing and payment provider, the two
companies said.
CoolSavings nets ad contracts
CoolSavings said
Tuesday that BestBuy.com, Sears Home Central and LensCrafters signed advertising
contracts with the Chicago-based online coupon and sampling site. CoolSavings
will e-mail the companies' online savings offers to specific Web audiences.
Fashion show to help hospital
Nordstrom and Children's Memorial
Hospital will host a gala fund-raising event from 6:30 to 11 p.m. tonight to
help fund the hospital's new Epilepsy Center. The event, which Nordstrom is
underwriting, is expected to raise more than $ 650,000 and will feature the
company's first simulcast runway fashion show highlighting American and European
designer collections. Tickets range from $ 150 to $ 500 per person. For more
information, call (773) 880-8215. Nordstrom opens all four floors of its first
store in downtown Chicago at Grand and Wabash at 10 a.m. Friday.
FMC in
line with expectations
FMC Corp., the Chicago maker of machinery,
industrial and agricultural chemicals, said its third-quarter and yearly
earnings will meet or beat analyst expectations. FMC is expected to earn $ 1.75
a share in the third quarter and $ 6.64 for the full year, the average estimates
of seven analysts surveyed by First Call/Thomson Financial. The company earned $
1.33 in the year-earlier quarter.
Pritzkers to buy U.S. Franchise
Chicago's Pritzker family agreed to buy U.S. Franchise Systems Inc.,
franchiser of the Microtel Inns & Suites, for $ 99.8 million in cash. The
Pritzkers, owners of the Hyatt hotel chain, will pay $ 5 a share for all U.S.
Franchise outstanding stock, 14 percent more than Monday's closing price of $
4.38. The agreement negates a June agreement for the family to invest $ 75
million to gain a controlling interest in Atlanta-based U.S. Franchise.
Contributing: Associated Press, Bloomberg News, Dow Jones News Service
LOAD-DATE: September 29, 2000
