The Buzz On Business

last updated: June 26, 2008 05:30:50 AM

ORACLE SHOWS STRONG NUMBERS: Oracle Corp. breezed past analysts' expectations in its fiscal fourth quarter, providing another sign of the technology industry's vitality despite the listless U.S. economy. With the impressive showing, Oracle joins several other major tech companies that are weathering the economic turbulence battering financial services, travel and retail. "The fact that we put up these results in these times demonstrates our strategy is working," Safra Catz, Oracle's chief financial officer, said in a Wednesday conference call with analysts.

INBEV GEARING FOR ANHEUSER-BUSCH: InBev is keeping up the pressure in its $46 billion bid to gobble up Anheuser-Busch Cos., telling the U.S. brewer that is has secured all the necessary financing it needs and already has ponied up millions in fees to get it. In a letter to Anheuser-Busch Chief Executive August Busch IV, InBev Chief Executive Carlos Brito said his company "remains committed" to its offer of $65 a share. InBev, based in Belgium but run by Brazilians, has a reputation for ruthless cost-cutting in pursuit of ever-higher margins, which has put St. Louis on edge, as Anheuser-Busch is one of the region's largest taxpayers and employers.

FORECLOSURE RESCUE PLAN STALLS: A foreclosure rescue plan that has broad bipartisan support stalled in the Senate on Wednesday in a dispute over taxes. Democrats and many Republicans were pushing for quick approval of the bill, which would allow the government to back $300 billion in new, cheaper mortgages for debt-ridden homeowners facing foreclosure. The Senate inched closer to passage of the measure Wednesday, endorsing its version over a similar bill already passed by the House. The 79-16 procedural vote reflected a desire among lawmakers in both parties to enact election-year aid for distressed borrowers in tough economic times.

YAHOO DEFENDS GOOGLE: Yahoo Inc.'s leaders defended online search leader Google Inc. as a more desirable partner than Microsoft Corp. in a letter that affirmed the Internet pioneer's commitment to a strategy that has alienated shareholders. Yahoo embraced its planned advertising partnership with Google amid reports that it had revived talks about a possible deal with Microsoft. Although Yahoo's letter didn't completely rule out a Microsoft deal, it stressed that working with Google remains the best option on the table.

NIKE RUNNING STRONG: Athletic shoe and apparel company Nike Inc. said Wednesday that strong growth overseas, particularly in Asia, helped boost its fourth-quarter profit by 12 percent. But Nike's stock fell 4.5 percent in after-hours trading reflecting investor concern over the company's growth prospects in its core U.S. market, where consumer spending is being curtailed by rising food and energy prices combined with the sharp downturn in the housing market. Nike Chief Executive Officer Mark Parker said the company does stand to benefit further from soccer's European Championships under way and the upcoming Olympics.

NEWSPAPER WOES:

The company that owns The Palm Beach Post will cut 300 workers -- 22 percent of its work force -- from its four publications. Palm Beach Newspapers Inc. employs 1,350 at the Post, Palm Beach Daily News, Florida Pennysaver and La Palma. The publications are owned by Cox Newspapers, a subsidiary of privately held, Atlanta-based Cox Enterprises Inc. The (Baltimore) Sun will cut about 100 jobs, including 55 to 60 in the newsroom, through buyouts, layoffs and the closing of open positions. The latest in a series of cuts to the venerable newspaper were announced in a memo from publisher Tim Ryan to the newspaper staff.

BEE NEWS SERVICES

Figuratively Speaking

41: Percentage of meeting agendas that are appropriately prepared, according to Proudfoot's Consulting Business Review findings

49: Percentage for which there is clear communication and preparation before the meeting

39: Percentage that are attended punctually and with appropriate attendance

JOHN MacINTYRE,

UNIVERSAL PRESS SYNDICATE

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