LITTLE ROCK — QUOTE OF THE DAY
“We intend to do everything we can to continue selling chicken profitably to China, as well as seek ways to expand our poultry exports to alternative markets.”
Gary Mickelson,
a spokesman for Tyson Foods Inc.
Article, 1D
Lawsuit: Man fired for being pagan
The Equal Employment Opportunity Commission filed a lawsuit Monday against a company owned by state Rep.
John T. Lowery Jr., alleging the company fired someone for being pagan.
The lawsuit alleges Premier Well Services LLC hired Eugene Keeler at its Searcy location as a driver, but after another employee told Lowery about Keeler’s religious beliefs, Keeler was fired after a few hours.
Lowery, D-El Dorado, denied the allegation in an interview Monday, saying that his business is an equal opportunity employer and that Keeler was never hired.
Lowery said Keeler wasn’t hired because of a company policy, but he wouldn’t explain further.
Keeler said Monday he didn’t want to comment about the lawsuit, but said he doesn’t follow the Wiccan form of paganism. He said he believes the world was created by a female deity.
University of Central Arkansas religion professor Julia Winden Fey said paganism is recognized by the federal government as an official religion.
Treasury bill interest falls at auction
WASHINGTON - Interest rates on short-term Treasury bills fell in Monday’s auction with rates on six-month bills dropping to the lowest level in three weeks.
The Treasury Department auctioned $29 billion in three-month bills at a discount rate of 0.155 percent, down from 0.160 percent last week. Another $29 billion in sixmonth bills was auctioned at a discount rate of 0.190 percent, down from 0.195 percent last week.
The three-month rate was the lowest since these bills averaged 0.140 percent two weeks ago on Sept. 13. The sixmonth rate was the lowest since these bills averaged 0.180 percent on Sept. 7.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.08 while a six-month bill sold for $9,990.39.
That would equal an annualized rate of 0.157 percent for the three-month bills and 0.193 percent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, fell to 0.25 percent last week from 0.26 percent the previous week.
FTC OKs Coca-Cola bottler buyout
WASHINGTON - Regulators have approved Coca-Cola Co.’s $3.4 billion buyout of the North American operations of its largest bottler, Coca-Cola Enterprises, on the condition that the soft drink maker restrict its access to business information from rival Dr Pepper Snapple Group Inc.
The Federal Trade Commission said Monday that according to a settlement, Coca-Cola will set up a “firewall” so that its ownership of the bottler won’t give it access to marketing information and plans for Dr Pepper Snapple, which had an existing deal with the bottler.
Messages left on Monday with Coca-Cola and Dr Pepper Snapple were not immediately returned.
In June, Coca-Cola announced it would pay $715 million to Dr Pepper Snapple for the rights to distribute Dr Pepper and Canada Dry in the U.S. after the bottler deal goes through.
Coca-Cola announced the deal to buy the North American operations of Coca-Cola Enterprises in February.
The regulatory order announced Monday is subject to public comment for 30 days, and then the commission will make it final. The FTC said the order, if approved, will expire in 20 years.
Vivendi sells NBC stake for $2 billion
PARIS - Vivendi SA says it has sold a 7.66 percent stake in NBC Universal to General Electric Co. for $2 billion.
The sale is the latest step in the deal agreed to last year under which the French media and entertainment conglomerate is selling its 20 percent stake in the U.S. television and film producer to majority owner GE.
Comcast Corp., the biggest U.S. cable TV provider, will then buy a controlling stake in NBC Universal from GE for $13.75 billion in cash and assets.
In a statement Monday, Vivendi said its remaining stake will be sold to GE for $3.8 billion upon completion of the GE-Comcast transaction.
Pratt & Whitney sues over patent
EAST HARTFORD, Conn. - In a continuing battle over engine part designs, jet engine maker Pratt & Whitney says it has filed a federal lawsuit accusing Rolls Royce of misleading the U.S. Patent and Trademark Office to obtain a patent.
Pratt & Whitney, a subsidiary of United Technologies Corp., said Monday that Rolls-Royce’s patent is invalid and unenforceable. It accused Rolls Royce of unlawfully using its patent and taking other actions to harm Pratt & Whitney.
Rolls Royce filed a patent infringement lawsuit in August against United Technologies over the design of engine parts. It alleged that fan blades in a United Technologies geared turbofan engine infringe on a Rolls-Royce patent.
Pratt & Whitney denies the accusation.
Business, Pages 24 on 09/28/2010