Qwest sells bonds to deal with debt
Qwest Communications sold $1.1 billion of 20-year convertible bonds as part of its plan to refinance its $3 billion in debt to save money, according to a Securities and Exchange Commission document filed Thursday.
Qwest chief Richard Notebaert said Tuesday he hoped to make Qwest profitable in 2006, a measure boosted by the debt-savings deal. Qwest posted flat sales in the third quarter.
Class-action status for insurance lawsuit
Boulder Country District Court Judge Morris Sandstead Jr. has granted class-action status in a lawsuit against American Family Insurance Co. for failing to provide enhanced personal injury protection coverage to its Colorado customers between 1992 and 2001 as required by state law.
Although American Family claims it notified 17,700 customers of changes made to bring policies into compliance, the court found that 6,000 people may not have received notification. The plaintiff in the case, Chad Hicks, wants American Family to provide medical benefits without dollar or time limits and to offer 85 percent income replacement.
ATG signs deals with suppliers for Javelin
Aviation Technology Group Inc. said it has signed agreements with Parker Hannifin Corp., Northcoast Technologies, Meggitt Thermal Systems, Dukes Inc. and Mecaer to supply systems for its Javelin executive jet.
Those companies will supply to ATG flight controls actuation, electrothermal airframe ice protection, environmental control and inlet de-ice systems, cabin pressurization control systems and landing gear.
Oracle CFO resigns after months on job
Oracle Corp., the world’s third-biggest software-maker, said chief financial officer Greg Maffei resigned after less than five months on the job.
Oracle has had four finance chiefs in two years. Maffei, who had been hailed by chief executive Larry Ellison for his experience as Microsoft Corp.’s former finance chief, missed a meeting with analysts in New York last week and canceled another at a Goldman, Sachs & Co. event next week, fueling speculation he was not adjusting to Oracle.
DirecTV plans use of Level 3’s fiber optics
Broomfield-based Level 3 Communications said Thursday its fiber-optic network and data centers will be used by DirecTV to expand high-definition TV offerings in several markets around the country.
Level 3 already gives DirecTV similar support for the satellite- television company’s regular TV service. The two companies have worked together since 1999.
Specialty Foods seeks way out of SEC filing
Centennial Specialty Foods Corp. announced that it has filed with the Securities and Exchange Commission to terminate the company’s requirement to file reports under the Securities Exchange Act of 1934.
The company also announced that it is currently pursuing voluntary removal of its listing from the Boston Stock Exchange, because its does not meet requirements. Centennial was delisted from Nasdaq on Oct. 26.
Real-estate trust plans sale of Denver sites
CarrAmerica plans to sell its 1.5 million-square-foot Denver office portfolio, including Harlequin Plaza, 7600 E. Orchard Road; Quebec Courts I and II on South Quebec Street; and the Dry Creek Corporate Center on East Geddes Avenue.
The Washington, D.C.-based real-estate investment trust has just started the process of marketing the portfolio, so pricing has not yet been determined, CarrAmerica spokeswoman Karen Widmayer said.
Two more encourage Knight Ridder to sell
Two more big investors in Knight Ridder Inc. have joined calls for the company to talk to potential buyers, increasing the pressure on the nation’s second-largest newspaper chain.
William C. Nygren and Harry R. Berghoef, investment managers with Harris Associates L.P., wrote Thursday to Knight Ridder chairman P. Anthony Ridder in a letter filed with the Securities and Exchange Commission.
The letter followed one to Knight Ridder made public Tuesday by the company’s largest investor, Legg Mason Inc.’s Private Capital Management L.P., which also urged Ridder to sell.
