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Show PAGE 4 THURSDAY, MARCH 8. 2007 BUSINESS EDITOR I Grace Leong National Briefing y Dow Jones V V Nasdaq S&P500 Gold Silver Final Final 12,192.45 -- 15.14 2374.64 -- 10.50 Final 1391.97 --3.44 Per ounce $650.60 $6.80 Per ounce $13,000 $0,123 Delta details Harry R. Weber THE rw P, 5 Walgreen Co. accused of bias against blacks The federal government Wednesday sued ST. LOUIS Walgreen Co., alleging widespread racial bias against thousands of black workers throughout the nation's largest drugstore chain. d, n m Grinstein. The exact amount of money was not disclosed, but the newsletter said all regular employees, not including officers and directors, will receive a lump-supayment representing a percentage of their pay. A majority of employees also will receive grants of un The U.S. Equal Employment Opportunity Commission allawsuit that Walgreen, based in Deer-fielleged in a 111., makes decisions about employee assignment and promotion based on race. Most of the complaints that led to the lawsuit, filed in U.S. District Court in East St. Louis, 111., came from employees and former employees in St. Louis, Kansas City, Detroit and Tampa, Fla. But EEOC officials in St. Louis said they have found evidence of the same trend around the country. class-actio- nized Delta. About 1,000 leaders of the company will be granted ownership stakes in Delta, but those shares will come in different forms, such as restricted stock, stock options and performance stock, and will vest over periods of up to three years, the newsletter said. In addition, some pieces of the management awards will require Delta to meet specific cash payment to many employees when the airline emerges from bankruptcy this spring, according to a newsletter sent this week to workers from Chief Executive Gerald performance goals for them to have any value. and other reward programs also will be set up, the newsletter said, g adding that will pay at least 15 percent of Profit-sharin- m EXCHANGING profit-sharin- THE DOLLAR Tuesday Wednesday Yen Euro 116.36 $1.3182 $1.9339 1.1781 11.1593 Pound Canadian dollar Mexican peso . 116.67 $1.3121 $1.9292 1.1766 11.1380 benefits post-baifapt- cy restricted stock in the reorga- ASSOCIATED PRESS ATLANTA Delta Air Lines Inc. plans to issue a tump-su- . A gleongOheraldextra.com 344-291- 0 the company's annual pretax profit, which is what's left after subtracting expenses from net revenue. Grinstein said the company would move to an industry standard pay structure, on par with other carriers, and he said some employees would receive their first pay increases this summer. Atlanta-base- d Delta has said before that employees would share in Delta's successful emergence from bankruptcy, but previously had not released details. The newsletter said employees would receive further details later. The news follows several years of heavy pay and benefit cuts for all employees, including executives and pilots. Since 2001, Delta also has announced it would cut more than 30,000 jobs. "Delta's transformation is a remarkable success story from a bankrupt company nearly out of cash to a company that some speculate will once again be the industry leader and that is certainly our goaL" Grinstein said in the newslet' ter. VN V,'"' Delta, the nation's third-largest carrier, filed for bankruptcy in September 2005. It projects it will be worth $9.4 billion to $12 billion when it emerges from Chapter 11, possibly as early as next month. -. Consumer borrowing increases in January Consumers' borrowing increased in WASHINGTON January, reflecting an increase in auto loans. The Federal Reserve reported Wednesday that consumer credit rose at a 3.2 percent annual rate in January, up from December's 2.5 percent increase. The gain was in line with expectations of analysts who believe that debt levels will grow more slowly this year as consumers try to adjust their personal finances in light of record Green Suburbia levels of consumer debt. "The high debt levels that many consumers are carrying will be a factor governing their borrowing behavior," said Bill Hampel, chief economist for the Credit Union National Association, an industry trade group. "Some of the steam will be coming out of consumer spending." Much of U.S. sees modest growth Most parts of the country saw modest WASHINGTON economic growth in the past month, although there were pockets of sluggishness as businesses continued to cope with fallout from the troubled housing and automotive industries. Information in the new snapshot, released Wednesday by the Federal Reserve, was collected before last week's nosedive in worldwide financial markets, which in part reflected investors' worries about the health of the U.S. and Chinese economies. Nonetheless, the survey is consistent with Fed chairman Ben Bernanke's view repeated anew after the market meltdown that the central bank continues to foresee "moderate growth going forward." FBI: Corporate leaders upbeat about future Stocks of Local interest Yesterday's performance of selected publkry traded companies LAST CHANGE SYM COMPANY AA ALCOA INC ABSY ABSOWTESKY INC NEV LAST CHANGE SYM COMPANY 32 39 0.02 MATR NATURES 0.16 0.03 NETM NrManage. he 2819 4517 0.16 NOW Now 0.16 NUS NUSKMENTWC SUNSHINE BARRICK GOLD CP AEP AMEft Aft AMERMTl 69 30 0 44 NWN NORTHWEST AMD ADV MICRO DEVICES 1410 O.OI OMTR OrrrtUtht AMGN Amgmlrc 62.02 028 PCG BAC BK 5059 4510 5022 0.35 PR POttO" PFIZHNC 02S 036 0 U ELECTRIC TOW CO Of NC GROUP AMERICA CP CP BLL BALL C CmCROUPINC CRESTED CORP tonus) Corparjtan COW CVX CHEVRON OfS WALT DNEX Oiorn Corporation IMEnasaiTrtphone ERIC C CF 2 69 O07 SC0X 25.58 0.15 SHU) 6833 SI 6353 066 006 040 34 30 34.43 QWEST 000 S.17 0.03 646 1662 016 NAT GAS 42.71 029 ' 4648 2S27 ISO 0.06 COMMNTIMC TECHNOLOGY NC RASER SCO 11.75 PROD He ABX Gro he. 004 077 0 001 0J4 .SwHokiripCttpOftalfcL SMTTHMTIHC . 43.50 1.65 7545 205 S865 0J7 SKYW SkyWHlht SNTO SwtoCorpoMfan 0.30 SPI SCOTTISH POWER 96.56 0.07 STR QUEST AR CP 8.20 0.293 SWFT STrjmpirt1anCo,hc PLC 13 5.1 2 1X9 (The) FRANKLIN COVEY GE GEN ELECTRIC CO 3433 439 SY SYBASE HRt HR 21 48 0.02 T ATSTNC 5159 9394 1)12 0.19 TGT TARGET 014 029 MSUAniCaptratmll 74 O08 PENNEY I C CO HOLD 7765 006 INC NORDSTROM 5042 464 4070 102 bomlnraporatoj LEE ENTERPRISES 3087 422 LONGVfWrTEWf CO 2463 404 SOUTHWEST AHUNTS 1495 410 5S11 002 MYJtSSONCORP MC0CMNSTK 1221 011 TRV THE TRAVELERS CO SO 97 057 013 041 UOR UNTO) 0OMW RLTY TR 3056 4X55 UNH UNTTEDHEAITH GROUP S3 JO USB USIANCORP USKj UlEflffyCoip. BM MTC JBLU Kf JWN KRON LEE in LLN Ma MfR MTTY MMSI NC HmySttMlhC MU BUSINESS MACH "WH Corporation 19 04 MtTYtrtnrrtBht MnMHkiSyvTt,lnc.1264 VZ Wl WEN WPC WMT MoacllCarpoTaM) 271 422 MYGN MyiadGmeUhc. 1144 3310 TECHNOLOGY USAHHNSartlnc.5681 WH MKI S4S Ul X 427 JO. 0S7 SON Muted Pradur VWONCOMMUN 4)21 411 3547 414 USNA 0.1B MU CP UTMO 001 MSTT 70 2436 3543 6060 MC 412 44 he. M9 410 3V 480 S444 426 3073 011 WNOY5KTIK ' WT115 fAAGO I CO WW MJ2 034 4793 411 WV MART STOWS 170 401 SOT NUTRTT PfTl 17.70 UNfTTO STATU STEB, 003 901 f 2111 KB. ENtRGY WACKMACP K Item Bnwpoutqi I5.S2 1 LENNY IQNELZIAssociated Press home" by Pardee utilizes a solar electric power system with photovoltaic cells integrated in the roof that is part of their environmentally sensitive construction in San Diego on March 1. A "green National homebuilders lag in environmentally 'green' construction AP BUSINESS WRITER NEW YORK Green building as a cause has united disparate parties from environmental groups to big business to policymakers, but one key industry has struggled to react to the change in public sentiment. The major homebuilders, who account for 80 percent of all homebuilding activity in the nation, face a unique challenge in implementing green building on a widespread scale. Many have added energy-savinfeatures and experimented with environmentally friendly materials but have not yet been able to sign on a critical mass of buyers willing to pay more for them. The National Association of Home Builders and McGraw-Hil- l Construction predict a rise in green building to 10 percent of homes by 2010 from 2 percent today, but experts say the large-scal- e residential builders have been slower to g respond because of the extra costs and availability of materials. The residential market as I see it is the last one to take off," said Mary Ann Lazarus, sustainable design director of the architectural firm HOK. Homebuilders are crucial to reducing greenhouse gas emissions believed to cause global warming, according to Ed Mazria, founder of environmental activist group Architecture 2030. He estimates that their construction and operabuildings tion contribute 48 percent of overall emissions while transportation adds 27 percent and industrial activity 25 percent. Certainly, there has been frustration among some of trie largest homebuilders about finding the right cost formula. Estimates vary widely for how much green building can add to the final price, with the lower estimates at 3 percent to 5 percent versus higher predictions of 10 percent to 15 percent. Ara Hovnanian, head of one of the nation's biggest homebuilders, said that all other things being equal, consumers would choose green. But, he said, all is not equal. "Consumers have not been willing to make the investment," said the CEO and president of Hovnanian Enterprises Inc. Hovnanian was one of 10 homebuilders that developed an community called Terr amor in Orange County, south of Los Angeles. He said the results of that venture were frustrating; consumers were unwilling to pay extra for green features such as solar panels to generate electricity. The casarjpointing thing is we were all hoping consumers would embrace it and at least be willing to pay a substantial part of the prerriium," he said. "I cant say we were overwhelmed by the results firiandaDy." Recouping that premium is more of a "Consumers have not been willing to make the investment" Ara Hovnanian CEO of Hovnanian Enterprises Inc. problem for developers who build properties for sale, as opposed to those who can benefit later from lower electricity bills or being able to charge higher rents. Investing in green features ultimately benefits the home buyer, so if the consumer is unwilling formula makes to pay more, the no sense, in Hovnanian's view. Bill Valentine, chairman of architecture firm HOK, said the main goal for architects who support green building is to get sustainability into the common man's cost-benef- budget. "The real action is in suburbia, in reconstructing suburbia," he said. Mazria of Architecture 2030 and others say that's about to happen. "I think we're just seeing the beginning of a total transformation of the building sector," Mazria said. Mazria said a number of different parties are working on proposals to extend the tax benefits in the Energy Policy Act of 2005 that could encourage growth in green building. 032 000 K BLOCK iJ 0.47 R ENTERGY HSIC i 0.05 ETR CO lr Vinnee Tong WASHINGTON America's chief executives are feeling pretty good about business prospects, with most expecting sales to increase, although Wall Street investors have expressed anxiety recently about the economy's direction. A survey by the Business Roundtable, released Wednesday, also showed that many executives expected capital investment and hiring to remain at current levels or be boosted in the coming months. These mostly positive projections came from a survey completed before last week's nosedive in financial markets at home and abroad. The market meltdown partly reflected investor worries about the possibility of economic slowdown in two global powerhouses, the United States and China. CMCSK if mortgage fraud cases have doubled WASHINGTON The number of mortgage fraud cases inFBI doubled the past three years, realmost the vestigated by flecting a problem that is "pervasive and growing," the bureau said Wednesday in its annual report on financial crimes. The bureau said its mortgage fraud cases increased from 436 in 2003 to 818 in 2006, and acknowledged that its case load likely represents a small piece of the problem. The FBI said mortgage fraud is difficult to track for a variety of reasons. For starters, the industry is not required to report fraud. Moreover, the sale of mortgage loans on secondary markets can "conceal or distort the fraud," thereby reducing the number of cases reported. CBAG : 40 American Skiing Co. studies future of Maine resorts THE ASSOC IATE0 PRESS AmerPORTLAND, Maine ican Skiing Co, moved a stop closer Wednesday to a possible tale of one or both of Maine's largest ski resorts. The Ualvbased company aid its board of directors has uthortzed strategic review of Sunday River and Sugarloaf i USA... "As t result of our recently announced resort talcs, we've , received tremendous amount of interest in our remaining resorts," said B J. Fair, president and chief executive. To ensure we maximize the value of these assets, we will commence a review of options for our Maine resort properties. " Fair said American Skiing would only pursue sale if term were fa vor able. Over the past few months, the company announced It was telling Steamboat in Colorado, Killington, Mount Snow and Pico in Vermont, and Art it ash in New Hampshirt Those sales would leave the ' company with Just three resorts: Sugarloaf, Sunday River and The Canyons, its flagship property in Park City, Utah, "With respect to The Canyons, we are continuing our efforts towards successful and favorable resolution of the litigation involving the resort," Fair said. The company is in dispute over terms of a lease covering a key section of the 3,500-acr- e Utah ski area. Ski industry observers have predicted that American Skiing, which moved its headquarters to Utah from Maine five years ago, will sell Sugarloaf and Sunday River and focus on The Canyons. The Utah resort has grown from 63 trails to 144 over the past decade while the Maine resorts have seen little change. |