In the Region 15-week strike ends at Dresser fuel pump...

In the Region

15-week strike ends at Dresser fuel pump plant in Salisbury

The 15-week-old strike at the Dresser Industries fuel pump plant in Salisbury has ended, Halliburton, the company that owns Dresser-Wayne, said yesterday.

A Halliburton spokeswoman told WBOC-TV in Salisbury that the company received a letter from the union last week saying members were ready to go back to work. The workers are expected to return Nov. 6.

The United Auto Workers at the plant have been on strike since July 13 over early retirement, pension plans, incentive pay and job consolidations. The two sides have not reached agreement and negotiations are expected to continue until those issues are resolved. But the company has said it plans to move manufacturing operations at the plant to a site in Austin, Texas.

Human Genome announces two pharmaceutical pacts

Human Genome Sciences Inc., a maker of gene-based drugs, announced two new agreements with pharmaceutical companies yesterday to develop drugs based on a protein discovered by HGS.

HGS and Dow Chemical Co. will develop a drug for the treatment of cancers such as chronic lymphocytic leukemia, multiple myeloma and non-Hodgkin's lymphoma.

Human Genome also said that it is extending its collaborative agreement with the British biotech company Cambridge Antibody Technology to include an exclusive development partnership on another product based on one of Human Genome's protein discoveries.

Mid-Atlantic Realty reports earnings increase

Mid-Atlantic Realty Trust reported that its diluted funds from operations in the third quarter was $6.68 million, or 37 cents a share, up 8.8 percent from the $6.34 million, or 34 cents a share, it reported for the third quarter last year.

The Lutherville real estate investment trust, which develops and manages Mid-Atlantic region shopping centers, said its revenue for the quarter was $14.2 million, compared with $13.2 million for the third quarter in 1999.

For the first nine months of the year, MART's diluted funds from operations totaled $19.99 million, a 3.1 percent increase over its $19.39 million FFO a year earlier. Revenue for the nine-month period was $42.6 million, compared with $39.5 million in the first nine months of 1999.

eOriginal forms alliance with California company

Baltimore-based eOriginal Inc. and SignOnline Inc., of Irvine, Calif., announced yesterday an alliance to develop and promote digital signing, storage and retrieval of electronic records, to streamline online transactions for businesses and consumers.

The two e-commerce companies will train their sales forces to promote each other's products and services. Eventually, the companies plan to integrate their systems to offer a complete software solution in electronic, legally binding document creation.

Elsewhere

Pilots union leaders at American Airlines say they will resign

The leaders of the pilots union at AMR Corp.'s American Airlines said over the weekend that they will resign, a month after members rejected a contract extension that would have forgiven a $45.5 million judgment against the union.

President Rich LaVoy, Vice President Brian Mayhew and Secretary-Treasurer Bob Morgan said at a weekend meeting of the union's board that they would resign once interim officers are appointed, the Allied Pilots Association said.

LaVoy and Mayhew have been at the center of a situation that began in February 1999, when the APA led a sickout to protest plans to mesh pilots from Reno Air Inc., bought by AMR, into American's seniority system. A federal judge fined the APA, LaVoy and Mayhew $45.5 million after ruling that they ignored his order to end the protest.

The union, which represents 10,500 American pilots, will start negotiations with American in June on a new contract. The APA is expected to seek terms similar to a new pilots contract at UAL Corp.'s United Airlines.

Prudential will close down institutional bond business

Prudential Securities Inc. said yesterday that it would shut down its institutional bond business, switching its focus to retail bond accounts in a move that will put more than 400 people out of work.

The move comes as U.S. fixed-income markets are being rocked by high market volatility, a sharp reduction in U.S. Treasury debt as the government runs budget surpluses and rapid consolidation in the banking sector.

Prudential said that, effective immediately, it was ending its institutional sales, underwriting and secondary trading of U.S. Treasuries, investment-grade and high-yield corporate debt, mortgage-backed and asset-backed securities as well as municipal bonds.

Ralston Purina to increase prices of dog and cat food

Pet food maker Ralston Purina said yesterday that it will increase all domestic dog and cat food prices about 5 percent beginning Jan. 8.

The St. Louis-based maker of Puppy Chow and Cat Chow said a similar price adjustment was made four years ago.

Coca-Cola accused in suit of inflating its stock price