Qvc

Thrift industry profits downProfits earned by the nation's thrift industry declined by 40 percent from July through September because of a $500 million, one-time write-off by two unidentified Northeast institutions, the government said yesterday.Nationwide, profits totaled $762.5 million during the third quarter, down from $1.26 billion in the second and $1.25 billion a year earlier. Maryland savings and loans earned $38.9 million in this year's third quarter compared with $32.6 million a year earlier.

Comcast Corp. said yesterday that its key earnings measure rose 13.5 percent during the second quarter.A successful crackdown on cellular phone fraud and big gains at its QVC cable shopping network led the way.The Philadelphia-based cable company, which operates local systems in Baltimore, Howard and Harford counties, reported net income of $16.8 million, compared with a loss in last year's second quarter.The primary difference was a $40.6 million gain from the initial public offering of Comcast affiliate Teleport Communications Group Inc. in June.

QVC shares rise more than $1QVC Inc. shares rose more than a dollar in heavy trading yesterday to close at $45.25, well above Comcast Corp.'s $44-a-share takeover offer, on speculation that a better bid is coming."

Jos. A. Bank Clothiers Inc., the Hampstead-based men's retailer, is spending $2.5 million on an expansive marketing campaign that it hopes will attract new customers and increase visibility as it moves beyond its regional roots. The campaign will include a foray into television shopping, magazine advertisements and an extension of its Internet presence. It's a new direction for the nearly 100-year-old company as it continues with a plan it announced in 2002 to have 500 stores open in five years.

NEW YORK -- Call it the power of a misleading headline. Or blame it on the desire of money managers to get home at a decent hour on Friday night.But whatever the reason, the great takeover war for Paramount Communications will drag on for two more weeks, despite the fact Viacom decided not to come up with an offer that was better than the one QVC Network had made.How could that be? The headline that hit the tape late Friday afternoon talked of an offer of $105 a share in cash for control of Paramount.

NEW YORK -- One of Wall Street's longest takeover battles ended yesterday in a crescendo of anger, disbelief and disappointment. And that was on the winning side.Officially, Viacom Inc. sounded a triumphant note after being declared the official winner of the $10 billion Paramount Communications Inc. sweepstakes. Paramount shareholders voted overwhelmingly to sell their shares to Viacom, which had offered a combination of cash and stocks worth $9.8 billion.The loser was QVC Inc., which had tried over the past five months to horn in on the arranged marriage between Viacom and Paramount.

AirTran adds $15 first-bag charge AirTran Holdings Inc. added a $15 fee for the first checked piece of luggage, joining larger carriers including Delta Air Lines Inc. in charging for the service. The change takes effect for travel on Dec. 5, the Orlando, Fla.-based company said yesterday in an e-mailed statement. The move by AirTran shows that even discount carriers haven't escaped the effects of slowing travel demand and a weakening economy that have forced many airlines to seek new sources of revenue.

Acquisition of QVC completedComcast Corp. and Tele-Communications Inc. said yesterday that they have completed their $1.42 billion acquisition of QVC Inc., accepting all shares of the home shopping network that were tendered.The transaction closed one week after the Federal Trade Commission voted 4-0 to let TCI buy a bigger share in QVC, ending months of uncertainty for the nation's largest cable TV operator.Comcast owns 57.4 percent of the joint venture, while TCI's Liberty Media owns about 42.6 percent.

Mortgage totals expected to fallThe dollar amount of new mortgages is expected to fall about 20 percent this year, to about $800 billion, as borrowers shy away from home purchases due to higher interest rates, the Mortgage Bankers Association said yesterday.This compares with a record $1.01 trillion of mortgages produced last year."If interest rates rise further, it [the estimate] will be adjusted" even lower, Stephen Ashley, MBA president, told journalists at a conference here.USAir to lighten up on weightsUSAir Group Inc. will temporarily drop its policy of weighstandards for flight attendants and pay $90,000 to resolve an equal opportunity lawsuit, the airline said yesterday.

Affirmative action challengeNationsBank Corp. has filed a lawsuit challenging how the federal government is monitoring the company's record on affirmative action.The suit seeks to stop the U.S. Labor Department from using bank-employment records in two cities to review the Charlotte, N.C.-based banking company's record on hiring and promoting women and minorities.NationsBank says in the suit, filed last week, that the department's "unwarranted and unreasonable designation" of its Tampa, Fla., and Columbia, S.C., operations for review could cause the bank "to suffer actual injury," because the department can bar the company from federal contracts.