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Feature Story / Yahoo
Settles Browser Trademark Case with
Geico
-----
But Google has not
settle the suit by Geico over the use of brand
names to trigger ads in searches
SAN FRANCISCO &emdash; Yahoo Inc. settled a closely
watched trademark infringement lawsuit with auto
insurer Geico, even as rival Google Inc. prepared
to take the case to trial this month.
-----
Geico, a subsidiary of
Warren Buffett's Berkshire Hathaway Inc., sued the
two Internet companies in federal court in May for
allowing other insurance companies to buy ads that
appear when people type "Geico" into search
engines.
-----
The confidential
settlement reached Friday between Geico and the
Overture Services division of Sunnyvale,
Calif.-based Yahoo leaves Google as the sole
defendant in what could be the first case to decide
whether advertisers can lure Web surfers to their
sites by buying "sponsored search" ads related to
their competitors' brand names.
-----
The Geico case and
several related lawsuits brought by other trademark
holders threaten a sizable chunk of the
multibillion-dollar market for keyword ads
delivered alongside search engine results &emdash;
the primary source of revenue for Google.
-----
"It's a huge battle
over an enormous revenue generator for Google and
Yahoo," said James D. Nguyen, an intellectual
property lawyer who has been following but is not
involved in the cases.
-----
Google and Yahoo get
paid every time someone clicks on a sponsored link.
Many of the links are generated by searches using
generic terms, such as "car insurance." But many
advertisers also buy ads based on brand-name
keywords. So, for example, several competing
carmakers could attract Web surfers searching
Google for "Ford Focus."
-----
Geico argued that its
brand name shouldn't be used to drive traffic to
its competitors' websites. Judge Leonie Brinkema,
in an Alexandria, Va., federal court, ruled last
summer that Geico's claims of trademark
infringement, unfair competition and dilution of
trademarks had enough merit to go to trial.
-----
Brinkema approved last
week's settlement, but the agreement was sealed
from the public. The two companies confirmed the
settlement but declined to comment Wednesday.
-----
Because the
settlement's terms were not disclosed, observers
said it was difficult to tell how Overture's
submission might affect Google's chances of
winning. The Mountain View, Calif., company's trial
is scheduled to begin Dec. 13. Brinkema mostly
sided against the search engines in early stages of
the court proceedings.
-----
"This settlement with
Overture signals something to Google &emdash; there
is something that can be done to make Geico happy,"
said intellectual property lawyer Bruce Sunstein.
"It puts the pressure on Google to settle."
-----
But Nguyen and other
observers said Google seemed ready to defend its
turf in court.
-----
Pasadena-based
Overture lets trademark holders challenge ads
related to their brand names and removes ones it
thinks infringes trademarks. Google did too
&emdash; until April, when it dropped all
restrictions on keyword bidding in the United
States and Canada. Analysts said the move signaled
Google's desire to have a court rule on whether its
business practices could stand.
-----
"Overture's policy has
been a little bit more forgiving and favorable to
trademark owners, so it's not that surprising that
they settled when Google did not," said
intellectual property lawyer Sheldon H. Klein. But
he added, "Overture correctly surmised that this
judge may not be all that sympathetic to the search
engines."
-----
Yahoo shares rose 38
cents to $38 on Wednesday, while Google fell $2.02
to $179.96. Both trade on Nasdaq.
Center
Page /
Oil -- Who's
Buying and Who's Selling in Libya Fuzhou, China / November 28, 2004
Fear of a sudden, steep price drop has
companies wary of committing cash to exploration
that could take several years to start paying off.
Some of the funds are going to investors.whiteThe
key numbers for Big Oil these days aren't $45 or
$55. They're 1986 and 1998.
-----Although
producers are reaping massive revenues because of
soaring prices crude eclipsed $55 a barrel last
month and gasoline is well above $2 a gallon in
California the industry remains wary of spending on
exploration and production.
-----The worry
is that oil prices will drop sharply and perhaps
even collapse as they did in 1986 and again in
1998. And no producer wants to be stuck with a
string of expensive new drilling sites that can't
turn a profit.
-----"Companies are
cautious," said Charles Williamson, chairman of El
Segundo-based Unocal Corp. "We're
not investing based on $45 oil, because our
projects are in three-, five-, 10-year cycles and
we don't know what the oil prices will be
then."
-----Instead of
betting all of their extra cash on drilling, oil
companies are using much of it to reward investors
and bolster their balance sheets. They are hiking
dividends, buying back shares, paying down debt and
beefing up pension plans.
-----ChevronTexaco
Corp., for example, raised its quarterly
dividend 10% in the third quarter and bought back
$750 million of its stock. Those moves came as
profit that quarter jumped 62% from a year earlier
at the San Ramon, Calif.-based company. Irving,
Texas-based Exxon Mobil Corp.
raised its quarterly share repurchase program to
$2.5 billion from $1.5 billion.
-----Stephen Chazen,
chief financial officer of Occidental
Petroleum Corp., recently told analysts
that the Los Angeles-based company hoped "over the
next year to find high-quality projects with good
returns." But if it doesn't, he said, "we will
return the money to shareholders."
-----Investors are
happy, but the industry's moves aren't making a big
dent in one of the key problems behind lofty oil
prices: tight supplies. The world's limited supply
of oil is struggling to keep pace with rising
demand in the United States, Asia and other
regions. And with spare capacity so slim, fears of
production snags because of terrorism, political
upheaval and bad weather have repeatedly pushed
prices up. So has heavy speculation by traders.
-----Yet even if
companies immediately started spending more heavily
on finding and producing oil, it probably wouldn't
have an effect in the short term. That's because
major new oil projects many of them in difficult
terrain don't produce their first barrel of oil for
years, sometimes even decades.
-----"If
we're developing a deep-water project, say, off the
coast of West Africa, it may have another four or
five years before it's producing oil," said David
Pursell, a principal at Pickering Energy Partners,
an investment bank in Houston.
-----The
world's six largest oil companies this year are
expected to reach a record cash flow of $151
billion, a 40% jump from last year, according to
John S. Herold Inc., an industry consulting firm in
Norwalk, Conn. But their capital spending will rise
only 19.6% to $75.4 billion, Herold estimates. And
much of that gain won't involve new exploration and
production; it will reflect higher operating costs
for existing projects and the companies'
investments in foreign oil alliances.
-----ConocoPhillips
of Houston, for instance, recently announced an
investment in Russian oil giant
Lukoil valued at more than $2
billion. At Unocal, its 2005 capital budget "will
look roughly like it does this year," about $2
billion, Williamson said. "Obviously, we've got to
drill more wells; you can't just stay still," he
said. "But this industry is acutely aware of having
financial discipline."
-----It's
an awareness born of disaster. As prices soared in
the 1970s, oil companies went on a spending binge.
Exploration projects boomed, and the companies
diversified into such far-flung areas as retailing
and beef processing.
-----Then
came the price collapse of the mid-1980s, with oil
plunging as low as $10 a barrel. Profits
evaporated, exploration spending dried up, energy
stock prices tumbled, and several of the big oil
companies merged to survive.
-----The
scenario repeated itself in the late 1990s, when
oil climbed back above $30 a barrel and then two
years later plummeted to $10 a barrel. Ever since,
"capital discipline" has been the watchword for oil
executives.
-----"They
have memories of being chastised by investors for
destroying value," said Herold Chairman Arthur
Smith.
-----Oil
executives remain in a tough spot today even though
oil prices have climbed 52% this year. Crude for
January delivery closed Wednesday at $49.44 a
barrel on the New York Mercantile Exchange;
commodities markets were closed Friday for the
Thanksgiving weekend.
-----They
have to find more oil because their existing sites
are being depleted. But prosperous new fields are
getting hard to find, or are off-limits because
they are environmentally protected or run by
national oil companies. Meanwhile, there is
pressure from investors for companies to keep
posting high earnings quarter after quarter which
requires a close watch on spending and to return a
big chunk of their extra wealth to
stockholders.
-----Paul
Roberts, author of the book "The End of Oil," said
he would prefer to see oil companies boost spending
on alternative fuels in the face of dwindling
supplies of conventional crude oil. Even so,
Roberts said, he understood the companies'
dilemma.
-----"I
would hate to be in their position, because they
don't think there's any clear picture of how to
invest" their latest windfall, Roberts said.
"They've seen these cycles before."
-----Refiners,
too, are spending cautiously on new equipment
because they expect prices to drop from current
levels. Strict environmental laws have curbed new
construction there hasn't been a new U.S. refinery
built from scratch in two decades though several
refiners are expanding or modernizing current sites
to produce more gasoline, heating oil and other
fuels.
-----Exxon
Mobil, for instance, is seeking approval to enlarge
its giant Baytown, Texas, refinery to increase
output by 3% to 575,000 barrels a day.
ChevronTexaco this month said it was considering
plans to increase the capacity of its Pascagoula,
Miss., refinery by 25% to about 79,000 barrels a
day.
-----Total
U.S. refining capacity "should rise annually only
by 0.6% during the 2005-07 pe- riod, significantly
less than the 0.9% yearly increase witnessed in
1998-2004," analyst Jacques Rousseau of Friedman
Billings Ramsey & Co. said in a recent note to
clients.
-----To
be sure, the industry isn't running in place. It is
spending more than $60 billion a year scouring the
world for more oil, and that's keeping providers of
drilling rigs and other oil field services
busy.
-----"We
forecast continued growth in the worldwide rig
count to 2,595 rigs in 2005, up 8% from 2004,"
analyst Mark Urness of Merrill Lynch & Co. said
in a recent report.
-----Still,
that's less than half the peak number of rigs
operating in the early 1980s, and spending for oil
services also is expected to keep rising only
gradually despite the surge in crude prices.
-----"We
have the same problems the operators have," said
Dennis Smith, director of corporate development at
Nabors Industries Ltd., a leading
oil services concern. Oil exploration and
production companies "are very sensitive" to the
past boom-and-bust cycles, "and they're being more
measured" about spending, he said.
-----The
oil companies' search for petroleum spans the
globe. Unocal is operating in the Gulf of Mexico,
Indonesia, Thailand and Bangladesh. Occidental
whose oil spending is expected to rise 13% next
year to about $1.8 billion has sites in Ecuador,
Colombia, Qatar and Yemen.
-----ChevronTexaco
this year has announced discoveries in the Gulf of
Mexico, Australia, Venezuela, Nigeria and the
Atlantic Ocean off the coast of Angola. The company
also is boosting its total capital budget next year
by 15% to about $8.5 billion. But that's still well
below the $12-billion level it reached in 2001.
-----Each
year's spending is "guided by long-term corporate
strategies and business plans, and not by
short-term market conditions" such as this year's
soaring oil prices, said ChevronTexaco spokesman
Stan Luckoski.
-----Analysts
said there were some potential oil sources that the
major companies would pursue regardless of their
outlook for future market prices, simply because
those fields have such rich long-term
prospects.
-----One
is the Arctic National Wildlife Refuge, a
19-million-acre region in northeast Alaska. The oil
industry, environmentalists and politicians have
fought for years over whether drilling should be
allowed there.
-----Now,
with Republicans having added to their majority in
Congress, the Bush administration is expected to
push again to open the refuge to drilling. If it
prevails, "the oil companies will be standing in
line to get leases," Smith of Herold said.
-----The
government estimates that there are 6 billion to 16
billion barrels of oil beneath the refuge's tundra,
though opponents argue that only about 3.2 billion
can be recovered economically.
-----Another
potential source is Libya, which has about 36
billion barrels of proved oil reserves, more than
Mexico and Nigeria and about 3% of the world's
total, according to the U.S. Energy Department.
-----This
year, President Bush eased sanctions that have kept
U.S. oil producers out of the North African country
for 18 years. Occidental and ChevronTexaco are
among the companies exploring ways to resume
operations there, and another meeting of U.S. oil
firms and Libyan officials is scheduled in Tripoli
in early December.
-----"Whether
oil is $25 or $30 or $40, Libya is an extremely
attractive spot, so I think it's pretty independent
of price," Occidental's Chazen said in an
interview.
-----Overall,
though, the oil companies will maintain their
guarded stance toward spending on new production
unless they become convinced that today's prices
are here to stay, Pursell of Pickering Energy
Partners said.
-----"They're
making long-term bets here," he said. "But if we're
having this discussion next year, and oil is still
$50 or $55 a barrel, you will see them drill for
more oil. You can buy back stock or raise the
dividend only so much."
Gower
Studios Is Sold One
of Hollywood's most storied film lots has been
sold. -----The
former Columbia Pictures headquarters, most
recently known as Sunset-Gower Studios, was
acquired by Menlo Park, Calif., private equity firm
GI Partners. It landed the 17-acre property, which
includes the Nickelodeon Theater, from Pick-Vanoff
Co. at a price real estate industry sources put at
$110 million.
-----The
lot has one of the richest histories in the
entertainment industry, dating to a tiny studio
that movie tycoon Harry Cohn bought on Sunset
Boulevard between Gower Street and Beachwood Drive
in 1920. After it became home to Columbia Pictures
in 1924, some of Columbia's most noteworthy films
&emdash; among them "It Happened One Night," "Mr.
Smith Goes to Washington," "From Here to Eternity"
and "Funny Girl" &emdash; were shot there. Some
celebrated television shows were made on the lot
too, including the 1960s hits "I Dream of Jeannie"
and "Bewitched."
-----Movies
and TV programs will continue to be filmed on the
13 soundstages, GI Partners said Wednesday.
Projects underway include episodes of the
television shows "Six Feet Under," "American
Dreams" and "Eve."
-----Andrew
Tainiter, a partner in the equity firm, said it
typically invested in businesses "with a high
degree of recurring revenue."
-----"Sunset-Gower
has been one of the premier independent studios for
a long time," Tainiter said.
-----He
wouldn't disclose what the studio's revenue stream
has been. It makes money renting soundstages,
office space and equipment and providing support
services such as catering.
-----Although
Tainiter now has an office on the lot, veteran
General Manager Steve Auer will run day-to-day
operations of the studio, Tainiter said. Cosmetic
improvements will be made to the lot, and more
stage and office space may be developed, Tainiter
said, though he declined to say how much would be
spent.
-----In
1976, the Columbia glory days were over when
Pick-Vanoff bought the property for $6.2
million.
-----Saul
Pick and Nick Vanoff got what the industry
considered a white elephant that had been so
thoroughly looted that it was missing office doors,
carpeting and toilet seats. Many of the soundstages
had been converted to indoor tennis courts.
-----Pick
and Vanoff renovated the studio, and by 1981 the
renamed Sunset-Gower Studios had become a bustling
lot, with ABC renting a third of its stages.
-----In
1983, Pick and Vanoff also purchased the landmark
Aquarius Theater, which had been the Moulin Rouge
nightclub and the Earl Carroll Theatre. They
converted it into a state-of-the art television
theater that for nine years was the home of "Star
Search" and today is the Nickelodeon Theater.
-----Pick
was a German immigrant who survived a Nazi
concentration camp and went on to build a real
estate empire in Los Angeles before he died in
2002. He built the Cinerama Dome in 1963 and the
two bank buildings on the southwest corner of
Sunset and Vine Street. And he turned the former
KHJ-TV studio on North Vine Street into a thriving
independent television facility that was bought by
ABC in 1970.
-----In
1963, he also built the first high-rise hotel on
the Sunset Strip; it's now called the Hyatt West
Hollywood but may best be known as the Continental
Hyatt House.
-----Vanoff
was a former dancer and successful television
producer born in Greece, whose shows included "The
Hollywood Palace," the second "Sonny & Cher
Show" and "Perry Como's Kraft Music Hall." He died
in 1991, a year after winning a Tony Award for best
musical for his production of "City of Angels."
-----Pick's
son, Mark, took over management of the studio that
year. Sunset-Gower wasn't on the market, Mark Pick
said, but GI Partners "was remarkably persistent.
The more I said 'no,' the more dogged they
were."
-----Pick
said he would miss life on the lot and such
memorable moments as the rehearsal for the 1993
Academy Awards where a boa constrictor to be used
in the performance of a song from "Aladdin" escaped
from its handler and disappeared, sending the
rehearsal into chaos. The snake reappeared weeks
later hungry but unharmed.
-----Pick
may use profits from the sale to buy another
studio, he said.
-----Sunset-Gower
was the third studio to be sold this year. The
historic Culver Studios in Culver City where Cecile
B. DeMille filmed silent movies was purchased for
$80 million in April by a group of El Segundo and
New York investors. Last month, a Los Angeles
investment banking firm reportedly paid close to
$100 million for Manhattan Beach Studios, a
5-year-old studio in Manhattan Beach.
-----"Even
with television and film production improving in
L.A. County, only private investors are seeking out
these investments," said commercial real estate
broker Carl Muhlstein of Cushman & Wakefield.
"You would think the majors who rent them would
want to bid on them."
-----Film
and television producers aren't putting money into
hard assets, he said, preferring to simply rent
their facilities and charge the expenses to
individual productions.
-----GI
Partners manages a $526-million investment fund
backed by the California Public Employees'
Retirement System pension fund and CB Richard
Ellis, a Los Angeles-based real estate services
company. Most of its properties are
telecommunications facilities, such as the Brea
Data Center in Brea and Carrier Center in downtown
Los Angeles
///
News
Highlights For Week
Economy
Adds Fewer Jobs Than Expected - Nov. 28, 2004 The
nation's hiring engine faltered yet again in
November, with the Labor Department reporting
Friday that the economy added a net 112,000 jobs
during the month. That was much fewer than the
200,000 that economists were expecting and only
about two-thirds of what needs to be created each
month to keep up with the growth in population.
-----
The
unemployment rate fell to 5.4% from 5.5% the
previous month.
-----
Employment
has seesawed for more than a year now, with periods
of strong growth followed by weak ones.
-----
November's
numbers looked particularly weak in contrast to
October's totals, which even after being revised
downward Friday were an impressive 303,000.
-----
"Just
when I thought it was safe to say the job market
had finally firmed up, we discovered once again we
were wrong," said economist Joel Naroff. "There's a
new psychology in the corporate sector. If they
need to hire 10 people, they try to get by with
five."
///
Mild
Weather, Higher Supply Knock Oil Prices -----Oil
prices fell sharply last week as unseasonably warm
weather in the Northeast and the return of Gulf of
Mexico production crimped by Hurricane Ivan allowed
U.S. refiners to build heating-fuel
inventories.
-----Crude
for January delivery tumbled $6.90, or 14%, to
$42.54 a barrel on the New York Mercantile Exchange
last week. Prices have plunged 24% from the Oct. 25
peak of $55.67 a barrel, which was the highest
level in the 21 years the contract has traded.
-----U.S.
stockpiles of distillates, including heating oil
and diesel fuel, rose 20% last week, the biggest
jump in almost five months, the Energy Department
said. The rise in stockpiles should signal a
further decline in gasoline prices this week,
analysts said.
-----The
Organization of the Petroleum Exporting Countries
will meet in Cairo on Friday to discuss production
quotas and target prices.
-----Plunging
oil prices and the declining value of the dollar
may push OPEC to take steps that could cause oil
prices to rise, some analysts said.
///
Ousted
CalPERS Chief May
Return
-----Sean
Harrigan, who was ousted last week as president of
the California Public Employees' Retirement System,
may soon be back on the board of the $177-billion
pension fund.
-----Harrigan
lost his seat when the state Personnel Board voted
3 to 2 to replace him as its representative to the
CalPERS board. His term expires Dec. 31.
-----
However,
according to sources close to the talks, Harrigan
and his backers in the labor and corporate
governance movements have asked Assembly Speaker
Fabian Nuñez (D-Los Angeles) and Senate
President Pro Tem Don Perata (D-Oakland) to appoint
the deposed CalPERS president to a board seat
controlled by the two legislative leaders.
-----
Sources
familiar with the discussions said Nuñez
made no commitment other than to encourage Harrigan
to line up support from top national and regional
labor leaders.
///
Southeast
Asian Nations, China Sign Trade Pact -----China
inked a deal with 10 Southeast Asian countries to
create the world's largest free trade area,
bolstering its influence in a region long dominated
by the United States.
-----
The
leaders attending the Assn. of Southeast Asian
Nations meeting in Laos also announced plans to
hold the first East Asian Summit next year in
Malaysia. The Asia-only gathering would include
China, Japan and South Korea.
-----The
moves are likely to boost China's political and
economic interests in an area where its relations
have been strained by territorial disputes and
lingering war animosities.
-----
That
could reduce U.S. clout among Southeast Asian
nations that are key military allies and large
markets for U.S. farm goods, machinery and
Hollywood films.
-----The
free trade pact would lead to the elimination of
tariffs by China and ASEAN on thousands of products
by 2015.
///
Early
Holiday Sales Show Weakness -----U.S.
retailers logged wimpy sales in November, which
might prompt them to tempt consumers with
bigger-than-planned discounts this month.
Sales
at stores open for at least a year, a key industry
indicator, rose 1.7% from a year earlier, according
to a survey by the International Council of
Shopping Centers. The year-over-year rate in
November 2003 was 3.7%.
-----
Of
the 71 retail chains surveyed this year, 45%
reported sales declines.
-----"The
breadth of the weakness was certainly evident,"
said Michael Niemira, the council's chief
economist.
-----Instead
of shopping steadily through the month in a way
that builds momentum, he said, people bought in
surges spurred by sales, and that made for little
"follow-through" spending. What's more, he said,
bricks-and-mortar stores may have lost revenues as
more Americans shopped on the Internet.
-----
As
a result, Niemira trimmed his forecast for the
holiday season, saying he expected same-store sales
to rise 2.5% to 3% in November and December
combined, not the 3% to 4% he had predicted
earlier.
///
Anthem-WellPoint
Merger Is Completed -----After
several false starts and months of controversy,
Anthem Inc. completed its acquisition of WellPoint
Health Networks Inc., creating the largest health
insurer in the nation, with more than 28 million
members.
-----The
company will operate out of Anthem's Indianapolis
headquarters but will adopt a streamlined version
of its Thousand Oaks-based target's name: WellPoint
Inc.
-----Since
the deal was announced in October 2003, Anthem's
stock has risen 31%, while WellPoint's has soared
49%.
-----Analysts
said they expected the bulked-up insurer to grab
employee health benefit accounts at big
corporations operating in multiple states.
-----The
combined WellPoint covers more than a third more
people than its next largest competitor,
Minneapolis-based UnitedHealth Group
Inc.
///
Satellite
TV Pioneer to Leave DirecTV -----Eddy
W. Hartenstein, widely regarded as the father of
modern-day satellite television, will retire as
vice chairman of News Corp.'s DirecTV Group Inc. at
year-end, the company said.
-----Sources
said that Hartenstein had grown frustrated with his
diminishing role at the company he launched in 1990
and built into the nation's leading satellite TV
provider. Since News Corp. took control last
December, the sources said, Hartenstein has
increasingly been cut out of the loop.
-----Hartenstein's
resignation caught many employees at the El
Segundo-based company by surprise. The executive is
just 54 &emdash; young enough, industry sources
speculated, to start a second career at another
technology-based company.
-----Hartenstein
said he planned to take some time off before
contemplating his next move.
-----
Hartenstein's
"expertise and counsel have been critical to our
progress during the last year," Chase Carey, chief
executive of DirecTV, said in a statement.
///
U.S. to
Lift Ban on Mexican
Avocados
-----The
U.S. plans to lift a 90-year-old ban on importing
Hass avocados from Mexico into California, over the
strenuous objections of the state's growers, who
say an infestation of bugs from south of the border
could damage their orchards.
-----The
arrival of the Mexican-grown fruit in California,
scheduled to begin in 2007, could reduce prices for
consumers. But it could also slash state growers'
sales by as much as 20%, according to federal
estimates.
-----Under
the new rules, the U.S. Department of Agriculture
said it would allow Mexico to ship avocados to all
50 states year-round.
-----Previous
regulations limited Mexican avocados to 31 Northern
and Midwestern states far from the nation's
avocado-growing regions. What's more, imports were
confined to between Oct. 15 and April 15, when the
population of insects that could damage the U.S.
crop thins out.
///
Intel
Boosts Revenue Forecast for 4th
Quarter
-----Chip
maker Intel Corp. raised its quarterly sales
forecast for the first time in more than a year,
citing strong demand for its microprocessors that
run most of the world's personal and corporate
computers.
-----The
upbeat fourth-quarter forecast from Santa Clara,
Calif.-based Intel, a barometer of the tech
sector's health, came on the same day that
technology market researcher IDC said it expected
chip sales to rise 26% in 2004 but fall 2% in 2005
because of overproduction. Sales should grow in
2006, IDC said.
-----Intel
Chief Financial Officer Andy Bryant told analysts
that revenue for the three months ending Dec. 31
was likely to be $9.3 billion to $9.5 billion, up
from the previous estimate of $8.6 billion to $9.2
billion.
///
Edison
Uncovers More Unreported
Injuries
-----Southern
California Edison Co., which has admitted using
faulty workplace safety data to win
performance-based bonuses from the state, said the
blame fell mostly on Edison's failure to keep track
of cuts, bruises and other minor injuries among its
12,000 employees.
-----Edison
&emdash; the main unit of Rosemead-based Edison
International &emdash; said it also uncovered
"several hundred" more serious on-the-job injuries
between 1999 and 2004 that went unreported.
-----Those
injuries also are supposed to be logged for the
California Division of Occupational Safety and
Health. They came on top of 3,466 such injuries
that Edison did report to Cal/OSHA during that
time, Edison said.
-----Even
so, Edison asserted that the additional injuries
would not have deprived Edison of wining the
performance bonuses from the California Public
Utilities Commission, and that there was no
concerted effort by the electric utility to cheat
the state.
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Advertising
material must be received by the 10th of every
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can be Emailed to us at your convenience.
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