Promus to split hotels, gaming
The Promus Cos., which owns Harrah's casinos and Embassy Suites, said yesterday that it planned to split its hotel and gaming businesses into independent corporations by the summer.
The Memphis, Tenn.-based company's stock has fallen 40 percent in the last year, when many gambling stocks were battered.
Yesterday on the New York Stock Exchange, the stock rose $1.625 a share, to $32.875.
FCC OKs 'follow-me' numbers
The U.S. Federal Communications Commission said this weekend that the seven Baby Bells can offer "500" service, which lets users have one phone number that follows them anywhere.
Customers with 500 service can route their calls to an office number, a cellular phone, a distant city, or a voice mailbox.
USAir negotiations to continue
USAir pilots and machinists, after failing to agree with flight attendants on how to share wage cuts and contract give-backs, plan to continue talks among themselves on a pilots-machinists proposal to management.
While holding open the possibility that an agreement may be reached with flight attendants, the pilots and machinists unions are ready to move ahead without them, union officials said yesterday. Talks are to resume this week.
Columbia Bancorp earnings up
Columbia Bancorp, parent of the Columbia Bank, reported that continued loan growth contributed to a 21.5 percent increase in fourth-quarter earnings. The company, which has $224 million in assets, earned $648,582, or 45 cents a share, in the three months that ended Dec. 31. A year earlier, Columbia earned $533,812, or 38 cents a share. For the full year, earnings were $2.4 million, or $1.67 a share, up from $1.7 million, or $1.13 a share, in 1993.
American Airlines cutbacks
American Airlines will eliminate 29 jet flights and 200 jobs at its unprofitable Nashville International Airport hub by June 15.
Among the cuts will be the airline's daily, nonstop flight from Nashville to Baltimore.
USX-U.S. Steel reports profit
USX-U.S. Steel Group said yesterday its fourth-quarter profit from operations nearly tripled from a year earlier, helping the largest U.S. steelmaker post its first annual profit since 1990.
USX had fourth-quarter net income of $90 million, or $1.11 a share. Including a gain of $32 million for deferred tax benefits, USX had net income of $201 million, or $2.35, for the year.