Business Briefs
Force Protection files delayed '07 report
Force Protection Inc. said Monday its sales skyrocketed last year but its profit was cut by more than half by rising costs as it hurried to boost production of its armored vehicles.
The Ladson-based maker of blast-protected military trucks reported in a long-delayed regulatory filing that in 2007 it earned $7.7 million, or 11 cents per share, down 58 percent from $18.2 million, or 36 cents a share, in 2006. Sales soared 354 percent to $890.7 million from $196 million.
The company filed its 2007 annual report on the day the Nasdaq Stock Market had set as the deadline to bring up to date its required annual and quarterly reports — delayed after the company found problems with its accounting controls — or see its stock delisted.
Investors OK sale of Wendy's to Peltz
NEW YORK — Shareholders of Wendy's and Triarc Cos. Inc. approved a $2.34 billion deal Monday that will make the nation's No. 3 hamburger chain a part of billionaire investor Nelson Peltz's empire.
Atlanta-based Triarc operates the Arby's fast-food chain and is owned by Peltz. Triarc said in April it would buy Wendy's for $26.78 a share in an all-stock deal after the chain known for its square hamburgers and Frosty dessert rejected at least two earlier offers by Peltz.
Triarc will change its name to "Wendy's/Arby's Group Inc." and trade under the "WEN" symbol on the New York Stock Exchange.
Best Buy cuts deal to acquire Napster
CHICAGO — Napster, the online music community that rose from a dorm room project to become the scourge of the recording industry, is being bought by Best Buy Inc. for nearly $127 million as the electronics retailer tries to boost its digital music business.
The all-cash deal announced Monday is nearly double the music network's Friday closing price but a small sum to pay for Best Buy, which gets access to Napster's 700,000 subscribers who pay a monthly fee to access digital music catalogs.
Honda auto recall might be expanded
WASHINGTON — The government is studying whether it should expand past recalls involving the Honda Accord after receiving complaints of the car rolling away and crashing.
The National Highway Traffic Safety Administration said Monday it has received 15 complaints of a failure of the ignition park-shift interlock system in the 2002-03 Accord. The problem led to two Honda recalls in the past five years. The government is studying whether it should expand those to include about 680,000 2002 and 2003 Accords.
United to increase 2nd bag fee to $50
CHICAGO — United Airlines on Monday doubled its fee for a second checked bag to $50, citing volatile fuel prices.
United, a unit of UAL Corp., said the $50 one-way fee would apply for tickets bought beginning today for travel beginning Nov. 10 in the U.S. or to or from Canada, Puerto Rico and the U.S. Virgin Islands.
Travelers in first or business classes, some frequent fliers and active-duty military personnel traveling on orders will be exempt.
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