The Buzz On Business

YARD REPAIRS, FREEZERS BOLSTER LOWE'S SECOND-QUARTER: Repairs to drought-stricken flower beds and sales of freezers designed to hold bought-in-bulk food helped Lowe's Cos. Inc. post a better-than-expected second-quarter profit. But the nation's faltering economy and sluggish housing industry still sent profit at the nation's second-largest home improvement chain down nearly 8 percent. For the three months ending Aug. 1, Lowe's earned $938 million, or 64 cents per share, boosted in part by consumers who undertook small outdoor gardening projects, repairing their yards from last year's drought, and bought freezers to hold bulk food purchases to cope with soaring grocery prices.

ROMANO'S MACARONI GRILL SELLING MAJORITY STAKE: Brinker International Inc., the owner of the Chili's Grill & Bar chain, said Monday that it will sell a majority stake in Romano's Macaroni Grill to a private equity firm. Under the agreement, Brinker will sell most of its stake to Mac Acquisition LLC, a unit of San Francisco-based Golden Gate Capital, for $131.5 million in cash. Brinker will then turn over $6 million to Mac Acquisition in order to hold on to a 19.9 percent stake in the brand. "Brinker International will retain a minority ownership position in order to both maximize the value to Brinker's shareholders and contribute to the success of Macaroni Grill as a stand-alone entity," Brinker Chief Executive Doug Brooks said in a statement.

BID FOR GAME MAKER WITHDRAWN, BUT TALKS TO CONTINUE: Video game publisher Electronic Arts Inc. is retracting its hostile bid for smaller rival Take-Two Interactive Software Inc., but a deal, and a friendly one at that, is likelier than ever. Take-Two, best known for the popular "Grand Theft Auto" video game series, confirmed Monday that it expects to sign a confidentiality agreement with EA to begin formal discussions about "strategic alternatives." EA had said earlier that it wouldn't extend the Monday night deadline for its $2 billion tender offer to buy Take-Two. The companies have been unable to agree on a price for the past six months. Now, EA said that if it does buy Take-Two, it no longer believes it can combine the company in time for the holidays, when video game companies make most of their money. Because of this, EA said it needs to review assumptions made to support its offer price of $25.74 per share.

TRADE GROUP PREDICTS DROP IN LABOR DAY AIR TRAVEL: An airline trade group expects Labor Day travel to drop by 5.7 percent this year, as rising airfares and schedule cuts keep travelers home. The Air Transport Association of America projected on Monday that 16 million paying passengers will fly globally on U.S. airlines between Aug. 27 and Sept. 3. That would be down 5.7 percent from the 17 million passengers during the same period last year. The ATA said jet fuel prices averaged $160.47 per barrel from June 1 to Aug. 12, up 79 percent from the same period last year. The ATA said travel is being discouraged by higher energy prices, which have left consumers with less money to spend.

BEE NEWS SERVICES

Figuratively Speaking

48: Percentage of Americans who consider cell phones and other technology use to be the most dangerous distraction while driving, according to a Nationwide Insurance survey.

35: Percentage who cite our current societal mind-set and busy, on-the-go lifestyles as the reason why people drive distracted.

80: Percentage of Generation X (aged 31 to 44) who admitted to driving while distracted.

JOHN MacINTYRE,

UNIVERSAL PRESS SYNDICATE