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Gov't releases 2005 crash tests ratings
Apr 5 2005 11:53PM (CT)
WASHINGTON (AP) - The Chevrolet Silverado and GMC Sierra had the lowest ratings in crash tests for 2005 pickup trucks, the government said Wednesday.
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Divided SEC to vote on stock rule change
Apr 5 2005 11:46PM (CT)
WASHINGTON (AP) - A divided Securities and Exchange Commission is preparing to mandate the biggest changes in how U.S. stocks are traded in three decades, amid fevered debate on market competition and the impact on investors.
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DaimlerChrysler execs to face shareholders
Apr 5 2005 11:44PM (CT)
BERLIN (AP) - Shareholders and investors fed up with DaimlerChrysler AG's setbacks and falling profits get a chance to confront the automaker's top executives Wednesday at its annual general meeting.
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Weyerhaeuser to appeal $460 million ruling
Apr 5 2005 10:44PM (CT)
FEDERAL WAY, Wash. (AP) - Weyerhaeuser Co. will appeal a federal court's decision Tuesday ordering the company to pay about $460 million in damages for its role in the initial public offering of stock in failed diaper maker Paragon Trade Brands Inc.
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China economy expected to grow 8.5 percent
Apr 5 2005 10:25PM (CT)
SHANGHAI, China (AP) - China's economy will grow at a robust annual rate of 8.5 percent this year and may pick up further steam in 2006-2007 due to strong investment, the Asian Development Bank said in a report issued Wednesday.
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BlackBerry makers report subscriber growth
Apr 5 2005 10:22PM (CT)
TORONTO (AP) - Research In Motion Ltd., the maker of the popular BlackBerry wireless device, on Tuesday reported that fourth-quarter sales came in below Wall Street expectations despite subscriber growth that more than doubled from a year ago.
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Greenspan: Energy prices should stabilize
Apr 5 2005 10:19PM (CT)
WASHINGTON (AP) - High oil and natural gas prices have put energy markets under the greatest strain in a generation, Federal Reserve Chairman Alan Greenspan said Tuesday, but he warned against interfering with market forces he hoped would stabilize prices.
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Tokyo stocks edge higher; dollar lower
Apr 5 2005 9:39PM (CT)
TOKYO (AP) - Tokyo stocks edged up Wednesday morning following Wall Street's strength. The dollar was trading lower against the Japanese yen and the euro.
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Pfizer trims projected 2005 earnings
Apr 5 2005 9:38PM (CT)
NEW YORK (AP) - Pfizer Inc. on Tuesday said its earnings will fall 6 percent this year as the company, which has been struggling with patent expirations and drug safety concerns, announced a cost-cutting plan aimed at saving $4 billion by 2008.
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Army to pay Halliburton subsidiary $1.18B
Apr 5 2005 9:35PM (CT)
WASHINGTON (AP) - The U.S. Army said Tuesday it will pay Kellogg Brown & Root, a subsidiary of Halliburton Corp. $1.18 billion for dining services in Iraq and Kuwait but retain a portion of payments suspended during a long-running billing dispute.
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Bill would raise Wal-Mart health spending
Apr 5 2005 9:15PM (CT)
ANNAPOLIS, Md. (AP) - A bill that would force Wal-Mart to spend at least 8 percent of its payroll on health benefits or pay the difference to a state fund is moving through Maryland's General Assembly with majorities that supporters say will be veto-proof.
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Renault opens new assembly plant in Moscow
Apr 5 2005 9:14PM (CT)
MOSCOW (AP) - French automaker Renault SA opened an assembly plant in the Russian capital Tuesday for its no-frills Logan model in a move aimed at increasing the company's sales in Russia. The plant will be working at full capacity in 2006, said Louis Schweitzer, Renault's chairman and chief executive.
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Bank: Indian economy to grow by 6.9 pct.
Apr 5 2005 8:39PM (CT)
NEW DELHI (AP) - India's economy is expected to grow 6.9 percent in the coming financial year, with brisk expansion in the country's service industries and better performance from farms, the Asian Development Bank said Wednesday.
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Vt. town rejects effort to limit retailers
Apr 5 2005 8:29PM (CT)
BENNINGTON, Vt. (AP) - Mike Bethel likes downtown Bennington. Narrow streets lined with small shops and cafes squeezed into the ground floors of historic buildings, it's quintessential New England.
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New report details black inequality
Apr 5 2005 8:04PM (CT)
NEW YORK (AP) - Though income and education gaps between black and white Americans have narrowed significantly, black households still have barely one-tenth the net worth of white households, according to a new National Urban League report.
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Philip Morris to research smoking dangers
Apr 5 2005 7:45PM (CT)
RICHMOND, Va. (AP) - Philip Morris USA announced plans Tuesday to build a $300 million research and development center in Richmond that will focus on reducing the hazards of smoking.
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Army restructures Future Combat program
Apr 5 2005 6:41PM (CT)
WASHINGTON (AP) - The Army announced Tuesday it is restructuring the business side of its $107 billion Future Combat Systems program in an effort to increase government oversight and control costs of the Boeing-managed effort.
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Siebel Systems warns of 1Q shortfall
Apr 5 2005 6:29PM (CT)
SAN FRANCISCO (AP) - Siebel Systems Inc. warned Tuesday its first-quarter results will fall well below investor expectations, marking the latest setback for the business software maker as it struggles to regain the sales momentum that once made it a stock market darling.
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Wal-Mart fights criticism from labor
Apr 5 2005 6:19PM (CT)
ROGERS, Ark. (AP) - Wal-Mart is "good for America" and the barrage of criticism against the company is an effort to protect the status quo in retailing, President and CEO Lee Scott said Tuesday in a sharp attack on community activists, organized labor and retail rivals.
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Belo CEO gets raise but no bonus
Apr 5 2005 6:14PM (CT)
DALLAS (AP) - Belo Corp. gave its top executive a 3 percent raise, to $880,000, but no cash bonus in 2004, the media company said Tuesday in a regulatory filing.
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More oversight of Fannie Mae, Freddie Mac
Apr 5 2005 5:57PM (CT)
WASHINGTON (AP) - A legislative push began Tuesday to tighten government oversight of Fannie Mae and Freddie Mac and possibly limit their size, following accounting scandals at both government-sponsored mortgage giants.
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Qwest reiterates deadline on offer for MCI
Apr 5 2005 5:55PM (CT)
DENVER (AP) - Qwest Communications International Inc. said Tuesday it will hold MCI Inc. to a midnight deadline to declare its $8.9 billion buyout proposal superior to the long-distance phone company's $7.5 billion deal to be acquired by Verizon Communications Inc.
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Interpublic gives unaudited results
Apr 5 2005 5:45PM (CT)
NEW YORK (AP) - Advertising conglomerate The Interpublic Group of Cos., which is in the midst of an internal accounting probe, provided unaudited 2004 financial results Tuesday but warned that the figures will likely need to be restated.
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International Speedway raises outlook
Apr 5 2005 5:44PM (CT)
DAYTONA BEACH, Fla. (AP) - International Speedway Corp., the country's largest operator of car racing tracks, Tuesday said earnings in the latest quarter beat internal forecasts, as the company benefited from a shift in the NASCAR calendar.
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Pinault denies conspiring for takeover
Apr 5 2005 5:39PM (CT)
LOS ANGELES (AP) - French billionaire Francois Pinault denied Tuesday that he conspired with other investors to cover up an illegal takeover of failed insurer Executive Life more than a decade ago.
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Tuesday's Commodities Roundup
Apr 5 2005 5:30PM (CT)
CHICAGO (AP) - Crude-oil prices at the New York Mercantile Exchange fell Tuesday, weighed down by a sharp sell-off in gasoline futures and expectations of growing U.S. crude oil inventories.
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Industry to seek more limits on imports
Apr 5 2005 5:27PM (CT)
WASHINGTON (AP) - A day after winning major concessions from the Bush administration in their efforts to curb Chinese textile imports, American manufacturers on Tuesday began preparing for the next step _ including requests for import limits on several other products.
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Report: Cablevision bids on Adelphia
Apr 5 2005 5:21PM (CT)
NEW YORK (AP) - Cablevision Systems Corp. has made a $16.5 billion all-cash offer for the assets of Adelphia Communications Corp., shaking up the sale process for the bankrupt cable TV company, The Wall Street Journal reported on its Web site Tuesday.
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Insurers drop backing for asbestos fund
Apr 5 2005 5:21PM (CT)
WASHINGTON (AP) - A group of insurance companies have rescinded their backing for Senate legislation that would end asbestos liability lawsuits in exchange for a victims trust fund, but other business groups moved quickly Tuesday to restate their support for a compromise trust fund bill.
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GM to revive `Hot Button' promotion
Apr 5 2005 5:20PM (CT)
DETROIT (AP) - General Motors Corp., struggling with sluggish U.S. sales so far in 2005, said Tuesday it will revive a roughly $50 million marketing program started last year that gives consumers a chance to win one of 1,000 GM vehicles.
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Best prtfolio managers share same skills
Apr 5 2005 5:20PM (CT)
NEW YORK (AP) - A quick scan of the mutual fund world shows few portfolio managers have been able to beat the Standard & Poor's index with any sort of consistency. But if you take a look at those who have, you'll find they share some of the same characteristics.
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Morgan Stanley dissidents want new CEO
Apr 5 2005 5:17PM (CT)
NEW YORK (AP) - A day after Morgan Stanley announced its plan to spin off its Discover Card division, dissident shareholders demanded Tuesday that the investment firm's chief executive, Philip Purcell, be dismissed and be replaced by one of their own.
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Yahoo's CEO cashes $230M in stocks in 2004
Apr 5 2005 5:16PM (CT)
SAN FRANCISCO (AP) - For Yahoo Inc. Chief Executive Terry Semel, it pays to be wanted. Semel took advantage of a rebound in technology stock prices and sold 10 million shares of Yahoo worth $230 million last year, making his annual haul one of the largest ever for a corporate executive. He still holds $324 million worth of stock he can sell any time and another $71 million of restricted shares.
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Crude futures fall after EU cuts forecast
Apr 5 2005 5:14PM (CT)
VIENNA, Austria (AP) - Oil prices dropped nearly $1 a barrel Tuesday as traders took profits from a recent run-up to new highs, the European Union cut its economic growth forecast and Federal Reserve Chairman Alan Greenspan expressed confidence that market forces would eventually bring oil prices under control.
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5 Toys R Us execs get $6.1M in bonuses
Apr 5 2005 5:13PM (CT)
NEWARK, N.J. (AP) - Toys R Us, which is to be sold by July to a private consortium, has awarded bonuses totaling $6.1 million to five executives for fourth-quarter performance.
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Boeing delivers 70 planes in quarter
Apr 5 2005 5:13PM (CT)
CHICAGO (AP) - Boeing Co. said Tuesday it delivered 70 commercial airplanes in the first quarter, six fewer than a year earlier and behind the average pace it needs to meet its 2005 target.
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Ford to offer some workers buyout packages
Apr 5 2005 5:12PM (CT)
DETROIT (AP) - Ford Motor Co., the nation's second biggest automaker, will try to eliminate about 1,000 salaried jobs by this summer as part of a voluntary buyout program, the company said Tuesday.
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Scrushy trial resumes, analyst testifies
Apr 5 2005 5:08PM (CT)
BIRMINGHAM, Ala. (AP) - The on-again, off-again fraud trial of former HealthSouth Corp. CEO Richard Scrushy resumed briefly Tuesday with testimony from an analyst who lowered his rating on the stock after an announcement that prosecutors say was linked to the wrongdoing.
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Judge won't disqualify self from retrial
Apr 5 2005 4:56PM (CT)
TOPEKA, Kan. (AP) - Attorneys defending David Wittig and another former Westar Energy Inc. executive will face restrictions on their behavior during a second criminal trial, imposed by a federal judge who rejected their request she remove herself from the case.
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Goldman Sachs halts ground zero HQ plans
Apr 5 2005 4:47PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc. said it has halted plans to build a $2 billion, 40-story headquarters at ground zero. Officials said the company was troubled by the location of a proposed tunnel to be built beneath the site.
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American Greetings posts lower 4Q profit
Apr 5 2005 4:43PM (CT)
CLEVELAND (AP) - American Greetings Corp., the nation's second-largest maker of cards, said Tuesday its fourth quarter profits skidded 56 percent, citing slow sales and a plant closing. It also said earnings for the current quarter and full fiscal year would be below Wall Street's expectations.
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HealthSouth sues Ernst & Young for fraud
Apr 5 2005 4:37PM (CT)
BIRMINGHAM, Ala. (AP) - HealthSouth Corp. has filed suit accusing its former outside auditor, Ernst & Young, of intentionally or negligently failing to uncover a massive accounting fraud at the medical services chain.
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Big Three lower incentives in March
Apr 5 2005 4:33PM (CT)
DETROIT (AP) - The traditional Big Three automakers eased off incentive spending in March, counting on new vehicles to lure customers to dealerships. But that likely will change in the coming months, especially if Asian automakers continue to boost incentives and sales, analysts say.
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Moody's cuts debt rating for GM
Apr 5 2005 4:21PM (CT)
DETROIT (AP) - Moody's Investors Service cut General Motors Corp.'s debt rating Tuesday to just above junk status, citing high health care costs, declining market share and an increasingly competitive market among the problems facing the world's largest automaker.
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Court rules common law protects recordings
Apr 5 2005 4:11PM (CT)
ALBANY, N.Y. (AP) - New York's highest court ruled Tuesday that common law protects a record company's copyright on recordings made prior to 1972 _ a decision that could have industrywide ramifications for everything from Bach to the Beatles.
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Pulitzer: SEC to review proxy statement
Apr 5 2005 4:03PM (CT)
ST. LOUIS (AP) - Federal securities regulators will review Pulitzer Inc.'s preliminary proxy materials tied to the company's plans to be acquired by fellow newspaper publishing Lee Enterprises Inc., Pulitzer announced Tuesday.
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Ex-Hollywood Entertainment CEO sells shares
Apr 5 2005 3:59PM (CT)
PORTLAND, Ore. (AP) - Mark Wattles, ex-CEO of Hollywood Entertainment Corp., has sold his remaining stake in the company for $52.6 million, cutting his final ties with the video rental chain he founded.
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Pernod discussing bid for Allied Domecq
Apr 5 2005 3:57PM (CT)
LONDON (AP) - French beverage group Pernod Ricard SA is in talks about a possible buyout of its larger British rival Allied Domecq PLC, possibly with assistance from U.S. liquor and consumer products company Fortune Brands Inc.
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LVMH demands 183M euros in bias case
Apr 5 2005 3:56PM (CT)
PARIS (AP) - French luxury group LVMH Moet Hennessy Louis Vuitton SA said Tuesday it is demanding 183 million euros ($236 million) in damages from Morgan Stanley on top of the 30 million euros it won last year when a court ruled that the investment bank had published biased research.
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Comcast eyes advertising system for DVRs
Apr 5 2005 3:51PM (CT)
SAN FRANCISCO (AP) - Comcast Corp. is working with TiVo Inc. on an advertising system that will insert new, updated commercials into already-recorded programs, the company said.
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Monsanto to sell Enviro-Chem Systems Inc
Apr 5 2005 3:49PM (CT)
ST. LOUIS (AP) - Monsanto Co. plans to sell its Enviro-Chem Systems Inc. unit to the managers of the subsidiary, Monsanto officials said Tuesday.
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Time Warner expands board to 15
Apr 5 2005 3:46PM (CT)
NEW YORK (AP) - Time Warner Inc., the world's largest media company, is expanding the size of its board to 15 from 13, and nominating two independent directors to fill the spots.
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Napster shares jump after boosted guidance
Apr 5 2005 3:35PM (CT)
NEW YORK (AP) - Shares of Napster Inc. soared Tuesday after the online music distributor raised its fourth-quarter revenue guidance, citing strong subscriber growth and better-than-expected sales of downloads.
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Boston Scientific stent gets FDA direction
Apr 5 2005 3:35PM (CT)
NATICK, Mass. (AP) - Boston Scientific Corp. said Tuesday that the Food and Drug Administration approved new directions for its Taxus Express2 drug-coated coronary stent, allowing doctors to perform magnetic resonance imaging on a patient soon after receiving the device. Its shares rose nearly 5 percent.
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TiVo, DirecTV in advertising deal
Apr 5 2005 3:34PM (CT)
ALVISO, Calif. (AP) - TiVo Inc., the maker of digital video recorders, and satellite broadcaster The DirecTV Group Inc. Tuesday said they have signed a deal to let both companies sell advertising for TiVo recorders.
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Trump looks to improve N.J. casinos
Apr 5 2005 3:04PM (CT)
ATLANTIC CITY, N.J. (AP) - Like a gambler with a fresh bankroll, Donald Trump's casino company hopes to soon be back in the game, pumping money into its Atlantic City properties and looking to neighboring Pennsylvania for possible expansion after a judge approved its bankruptcy reorganization plan on Tuesday.
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Risks of gas leaks prompt heater recall
Apr 5 2005 2:07PM (CT)
WASHINGTON (AP) - Two companies are recalling about 88,000 portable propane heaters because a defect can cause gas to leak out, creating a fire hazard, the government said Tuesday.
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Canadian automakers to cut emissions
Apr 5 2005 1:10PM (CT)
TORONTO (AP) - A landmark agreement to reduce greenhouse gas emissions by more than 17 percent over the next five years was formally signed Tuesday by the Canadian government and the country's automobile industry.
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Ex-Tyco auditor testifies on record access
Apr 5 2005 12:56PM (CT)
NEW YORK (AP) - Tyco International Ltd.'s former lead outside auditor testified Tuesday that access to the company's books and records wasn't restricted in his time of conducting audits for Tyco.
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Lawyers begin closing in Yukos CEO case
Apr 5 2005 11:41AM (CT)
MOSCOW (AP) - Lawyers for Mikhail Khodorkovsky on Tuesday began rebutting the criminal case against the former CEO of Yukos oil company, saying in closing arguments that prosecutors had failed to prove any of the charges against the jailed tycoon who was once Russia's richest man.
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Prosecutors seek review of acquittal
Apr 5 2005 10:55AM (CT)
BERLIN (AP) - German federal prosecutors have joined an appeal of the acquittals in the criminal trial of Germany's most prominent banker and five co-defendants over large payments to executives during a 2000 takeover battle, a spokeswoman said Tuesday.
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SAP co-founder disposes of 5M shares
Apr 5 2005 10:54AM (CT)
FRANKFURT, Germany (AP) - The co-founder of German software company SAP AG, Klaus Tschira, has disposed of 5 million shares in the company, a stake worth 614.4 million euros ($787.05 million), through a foundation he controls, a spokeswoman said Tuesday.
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ChevronTexaco to invest in crude project
Apr 5 2005 10:33AM (CT)
CARACAS, Venezuela (AP) - Oil giant ChevronTexaco Corp. is looking to invest between $5 billion and $6 billion in a heavy crude project in Venezuela's Orinoco tar belt this year, a company official said.
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C&D Aerospace is sold to France's Zodiac
Apr 5 2005 10:10AM (CT)
PARIS (AP) - French aeronautic equipment and systems supplier Zodiac SA said Tuesday it agreed to acquire C&D Aerospace Group, a closely held U.S. maker of aircraft seats, storage bins, and other interior equipment, for $600 million.
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Sempra shareholders vote against board
Apr 5 2005 9:32AM (CT)
LONDON (AP) - Sempra Energy shareholders voted against board wishes in favor of three corporate governance reforms, the U.S. natural gas and electricity distributor said Tuesday, at a meeting that was itself controversial for the decision to hold it 6,000 miles from the company's San Diego base.
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China says coal mining deaths up in 2005
Apr 5 2005 9:07AM (CT)
BEIJING (AP) - The number of deaths in China's accident-plagued coal mines surged by nearly 21 percent in the first three months of this year despite a national safety crackdown, the country's top industrial safety official said Tuesday.
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Group for Chinese stores wants boycott
Apr 5 2005 8:58AM (CT)
BEIJING (AP) - A trade group for Chinese chain stores is calling on its members to stop selling Japanese beer, coffee and other products to protest Japanese textbooks that critics say misrepresent Tokyo's role in World War II.
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UAW says membership increases in 2004
Apr 5 2005 8:54AM (CT)
DETROIT (AP) - The United Auto Workers says its membership rose 30,072 in 2004, reversing a long decline that saw the union shrink from 1.5 million in the late 1970s to 624,585 in 2003.
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Insurance cos. withdraw support of trust
Apr 5 2005 8:42AM (CT)
WASHINGTON (AP) - More than a dozen insurance companies have dropped their support of the proposed $140 billion federal trust fund meant to pay claims stemming from asbestos lawsuits, telling Congress it should instead work to establish standard medical criteria for such cases.
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Pernod, Allied Domecq in buyout talks
Apr 5 2005 8:38AM (CT)
PARIS (AP) - French alcoholic beverage group Pernod Ricard SA is in talks about a possible takeover of its British rival Allied Domecq PLC, both companies said Tuesday. Shares of Allied Domecq, which makes Perrier Jouet and Mumm champagnes, leapt on the news.
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Wachovia Corp. to buy Palmer & Cay
Apr 5 2005 8:36AM (CT)
CHARLOTTE, N.C. (AP) - Wachovia Corp., the nation's fourth-largest bank, said Tuesday it agreed to acquire insurance brokerage and benefits consulting firm Palmer & Cay Inc., in a move to form one of the top 10 U.S. insurance brokerage firms.
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Outokumpu sells copper products group
Apr 5 2005 8:30AM (CT)
HELSINKI, Finland (AP) - Outokumpu Oyj announced Tuesday it had sold its copper products division to private equity firm Nordic Capital for 599 million euros ($770 million) as the company concentrates more on stainless steel.
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Ethan Allen cuts third-quarter outlook
Apr 5 2005 7:56AM (CT)
DANBURY, Conn. (AP) - Furniture maker Ethan Allen Interiors Inc. warned that its third-quarter profit would fall short of Wall Street targets despite estimating sales at the high end of its previous range.
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Barton: Gas prices may prod energy bill
Apr 5 2005 7:26AM (CT)
DALLAS (AP) - On a day when oil prices breached a record high, a prominent House Republican said that steep gasoline costs will prod Congress to pass an energy bill this year and warned of a possible "horrible summer" because of power blackouts.
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Japan's auto recalls rise to record-high
Apr 5 2005 7:20AM (CT)
TOKYO (AP) - Auto recalls surged 71 percent to a new record high in Japan last fiscal year, as automakers used more interchangeable parts in different models and an auto defect cover-up scandal led more motorists to report cases, an official said Tuesday.
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China criticizes U.S. on textile makers
Apr 5 2005 6:36AM (CT)
BEIJING (AP) - China on Tuesday criticized a U.S. plan to try to re-impose textile quotas in order to protect American manufacturers, calling it unfair and a violation of free trade.
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Nokia agrees to sell mobile radio unit
Apr 5 2005 6:20AM (CT)
HELSINKI, Finland (AP) - Nokia Corp., the world's biggest mobile phone maker, said Tuesday it will sell its mobile radio business to European Aeronautic Defence & Space Co. in a deal valued at more than 90 million euros ($116 million).
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Harvard University to sell stake in co.
Apr 5 2005 5:49AM (CT)
BOSTON (AP) - Harvard University, after months of pressure from student activists, will sell an estimated $4.4 million stake in a subsidiary of China's top oil and gas producer because of its ties to the Sudanese government.
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Crude futures fall as EU cuts growth for
Apr 5 2005 4:09AM (CT)
SINGAPORE (AP) - Crude futures fell Tuesday after traders took profits, the European Union cut its growth forecast and the Organization of Petroleum Exporting Countries began discussions on another output increase.
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2nd tobacco program regulation published
Apr 5 2005 3:43AM (CT)
WASHINGTON (AP) - The first payments in the $10.1 billion tobacco buyout passed by Congress last year will be made between June and September, starting annual payments that will end the program that controlled American-grown leaf for decades.
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Soc. Sec. numbers on Medicare cards eyed
Apr 5 2005 12:38AM (CT)
NEW YORK (AP) - Amid growing concerns about identity theft, the federal government is reviewing its practice of putting Social Security numbers on Medicare cards that go out to about 41 million Americans.
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Texas drilling activity up
Apr 5 2005 12:10AM (CT)
LUBBOCK, Texas (AP) - The price of natural gas has more than doubled in three years, and that explains why Cloyce Talbott is so busy.
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Businessman Edward Bronfman dies at 77
Apr 5 2005 12:04AM (CT)
TORONTO (AP) - Edward Bronfman, who along with his brother Peter built one of Canada's largest business empires that included the NHL's Montreal Canadiens and Labatt beer, has died. He was 77.
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New Boeing chief vows not to lose money
Apr 5 2005 12:02AM (CT)
BELLEVUE, Wash. (AP) - Boeing Co. doesn't need money-losing airplane orders to compete with rival Airbus SAS, the company's new top commercial-jet salesman said Monday.
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Safeway tries to lure back shoppers
Apr 5 2005 12:00AM (CT)
SAN FRANCISCO (AP) - Hoping to lure shoppers back to its spruced-up supermarket aisles, Safeway Inc. is launching a $100 million marketing blitz to position itself as a more stylish alternative to the discount retailers that have steadily nibbled away at its market share.
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