Pacific Northwest A federal appeals court yesterday upheld an antitrust judgment of nearly $80 million against timber giant Weyerhaeuser...
Court rejects appeal
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of antitrust damages
A federal appeals court yesterday upheld an antitrust judgment of nearly $80 million against timber giant Weyerhaeuser for trying to maintain a monopoly on alder logs.
The 9th U.S. Circuit Court of Appeals in San Francisco affirmed the 2003 verdict of a U.S. District Court jury in Portland, which found that Weyerhaeuser artificially increased prices for alder logs to drive Ross-Simmons Hardwood Lumber of Longview and others out of business.
Weyerhaeuser appealed, arguing that it had no market power in the alder-log business, so antitrust law did not apply. It asked for a new trial, arguing the judge’s instructions to the jury misstated the law of predatory overbidding. It also sought reversal of the damage award on grounds it was based on speculation.
The appeals court rejected all of Weyerhaeuser’s claims.
Weyerhaeuser said it was “very disappointed” and would appeal the decision.
boosts 787 order by 5
Boeing said Ethiopian Airlines doubled its order for the company’s 787 to 10 planes. The order is valued at $1.6 billion at list prices.
The airline is the first to exercise purchase rights or options on the aircraft, Boeing said yesterday. Ethiopian ordered five planes in February.
Suntory teaming up
on bottled coffee
Starbucks will sell bottled coffee at stores in Japan and Taiwan to gain part of a growing $10 billion-a-year market led by Coca-Cola.
Starbucks of Seattle signed an agreement with Japanese brewer Suntory to make and distribute chilled drinks in Japan. A separate venture with President Starbucks Coffee Taiwan, its partner in coffee shops in Taiwan, will distribute products in that nation, Starbucks said in a statement.
Nation / World
to cost 25% less
SBC Communications, the largest U.S. provider of high-speed Internet access on digital subscriber lines, cut the price for its standard DSL service today by 25 percent, from $19.95 to $14.95 a month.
The service has a top download speed of 1.5 megabits.
The lower-priced SBC Yahoo! DSL now costs about half what’s charged by cable-television companies including Comcast, and is intended to attract consumers using dial-up connections, a company official said.
TD Waterhouse USA
Ameritrade and TD Bank Financial Group confirmed yesterday that they are in discussions regarding a potential transaction involving the online brokerage TD Waterhouse USA.
The companies said they will make no further comment until an agreement is reached. An Ameritrade spokeswoman declined to detail what type of transaction was being discussed.
Some financial analysts speculated that Ameritrade wants to acquire TD Waterhouse as the industry tilts toward consolidation in the face of declining trade volume and commissions.
Compiled from The Associated Press and Bloomberg News