Posted on: Monday, November 8, 2004
BUSINESS BRIEFS
Eight phony bidders on eBay fined
Advertiser News Services
ALBANY, N.Y. — Eight eBay sellers were ordered to pay nearly $90,000 in restitution and fines after admitting they bid up products online to inflate the prices.
New York Attorney General Eliot Spitzer said more than 120 people will receive restitution in the settlement of the three cases, which wrapped up last week in state courts.
Spokesman Darren Dopp said the cases stemmed from specific complaints, but the office has not conducted a broad investigation of the online auction industry and doesn't know how widespread the practice of phony bidding is.
Microsoft links dividend, stocks
SEATTLE — For Microsoft Corp. shareholders, the holidays will likely come early this year in the form of a one-time $3 dividend that's part of the company's plan to return some of its $64.4 billion cash horde back to shareholders.
But Microsoft won't hand out the cash unless shareholders allow the company to alter its stock compensation plans, so employees who hold stock options and stock awards aren't hurt by the dividend payout. Shareholders are being asked to approve the proposals at tomorrow's annual meeting.
The move underscores that Microsoft, while eager to gratify its shareholders, also is anxious not to alienate employees. Many of Microsoft's thousands of workers expect to get considerable wealth from Microsoft's stock compensation programs, and have seen those hopes soured as Microsoft's once skyrocketing stock price has remained relatively flat over the past few years.
Lucent, unions extend talks
TRENTON, N.J. — Lucent Technologies Inc. and two labor unions agreed yesterday to give themselves one more day to avoid a possible strike.
Both sides faced a midnight deadline yesterday, but extended that to tomorrow.
Lucent's contract with two unions expired at the end of last month and negotiators agreed at the time to extend talks through yesterday.
Both sides have been meeting in Washington since Oct. 7, but have been unable to agree on a new pact.
"The company and the unions made progress on several issues but want additional time to more fully explore the complex issue of retiree healthcare," Lucent said in a statement.
