In the Region United suspends work of team in USAir...


May 12, 2001

In the Region

United suspends work of team in USAir merger

With its year-old proposal to acquire US Airways still awaiting regulatory approval, United Airlines has suspended the work of a merger preparation team of hundreds of employees.

United spokesman Andy Plews said yesterday that the decision means that the airline is ready for the first 100 days of operations as an expanded airline rather than wavering in its commitment to the pending $4.3 billion acquisition.

The head of United's merger integration effort said workers who spent the last nine months on the integration team are returning to their regular jobs but will resume merger-related work later, as the Justice Department moves forward with its antitrust review of the deal.

Nasdaq to delist Silver Diner's shares

Silver Diner said yesterday that its stock will be delisted from the Nasdaq stock market at the opening of business Wednesday for failure to comply with Nasdaq's minimum bid maintenance requirements.

On Tuesday, Nasdaq gave the company until May 15 to appeal the determination, but Silver Diner said it doesn't intend to do so.

Silver Diner, of Rockville, operates 13 restaurants in the Baltimore-Washington and Philadelphia areas, and in Tidewater Virginia.


EEOC asks judge for sanctions against Wal-Mart

The Equal Employment Opportunity Commission has asked a federal judge in Tucson, Ariz., to punish Wal-Mart Stores Inc. over claims that the company failed to comply with terms of a discrimination settlement last year involving two deaf job applicants.

U.S. District Judge William D. Browning set a hearing May 29 for arguments on the EEOC's request for the court to declare Wal-Mart in contempt of court and impose sanctions.

The EEOC sued Wal-Mart in 1998, claiming the company violated the Americans with Disabilities Act by failing to hire two deaf men. Since the settlement, the retailer has failed to create training materials for hearing-impaired employees, has not provided disabilities training for managers and has refused to allow EEOC officials and the Arizona Center for Disability Law to visit its stores to verify compliance, the EEOC said.

Pricewaterhouse CEO announces resignation

PricewaterhouseCoopers Chief Executive Officer Jim Schiro, 56, will retire as soon as a successor is found, the world's largest accounting firm said yesterday.

No reason was given for the departure, which Schiro signaled yesterday in a speech in Paris. Mandatory retirement age for the firm's partners is 60, the company said.

Schiro's departure comes as many senior partners have voiced discontent about the company's management for months. The company said last month that its consulting unit would fire up to 8 percent of its employees and that an additional 1,100 support jobs would be cut because of the slowing U.S. economy.

AT&T starts process of splitting into four

AT&T Corp., the nation's largest long-distance telephone and cable TV company, said yesterday that it has filed a preliminary proposal to seek shareholder approval to break into four separately traded companies.

The telecommunications giant said in a statement that it filed the preliminary proxy with the Securities and Exchange Commission seeking approval for previously announced plans to create two tracking stocks, one designed to reflect the financial performance of AT&T's consumer business and the other designed to reflect the financial performance of its broadband business.

The proxy also asks shareowners to approve the separation of a company composed primarily of AT&T's business and consumer units from AT&T broadband.

This column was compiled from reports by Sun staff writers, the Associated Press, Bloomberg News and Reuters.

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