MidAmerican continues to reduce Constellation stake
MidAmerican Energy Holdings Co., which failed to buy Constellation Energy Group last year, continues to reduce its stake in the Baltimore-based company, according to a regulatory filing made public last night. MidAmerican, a subsidiary of Warren Buffett's Berkshire Hathaway, owned 7.45 percent of Constellation as of yesterday, down from 8.65 percent late last month and down from 10 percent in December. Buffett received the stake as part of a consolation prize when Constellation rejected his offer and instead agreed to accept an investment from Electricite de France. Constellation stock, which has fluctuated between $26 and $28 this year, closed yesterday at $26.40.
Disney and DreamWorks reach distribution deal
BURBANK, Calif.: The Walt Disney Co.'s motion picture arm said yesterday that it has agreed to a long-term exclusive distribution deal with Steven Spielberg's DreamWorks SKG movie studio, after a similar agreement between DreamWorks and Universal Pictures fell apart last week. Walt Disney Studios said it will handle distribution and marketing for six live-action DreamWorks films a year under its Touchstone Pictures brand, beginning in 2010. The company did not disclose any financial details. DreamWorks and Universal had announced a distribution deal in October, but talks fell apart.
Nissan says no more job cuts planned in U.S.
NEW YORK: Nissan said yesterday that it does not expect more job cuts in the U.S. after its announcement of 20,000 cuts worldwide. "We don't anticipate that you'll see further extensive job actions as part of that 20,000, because we've already made those job actions in the U.S.," said Alan Buddendeck, vice president of corporate communications for Nissan North America. Yesterday, Nissan Motor Co. in Tokyo said it expected a $2.9 billion loss for the fiscal year ending in March and said it planned to cut 20,000 jobs worldwide, or 8.5 percent of its 235,000-person global work force, by March 2010. In July, Nissan said it would offer buyouts to about 6,000 employees at its plants in Smyrna and Decherd, Tenn., with the aim of cutting 1,200 jobs.
RTKL acquires consulting firm Strategic Facilities
Architecture and engineering firm RTKL Associates Inc. said yesterday it has acquired consulting firm Strategic Facilities Inc. for an undisclosed amount. Annapolis-based Strategic Facilities' three employees will join RTKL's Baltimore-based Applied Technology Group. Strategic Facilities offers consulting services on building systems, including mechanical, electrical, plumbing and computers.