BUSINESS BRIEFS
Mesa, parent of go!, seeks OK for new share offer
Advertiser Staff and News Services
Mesa Air Group Inc., the Phoenix-based parent company of go! airlines, hopes shareholders will soothe its financial troubles this week by allowing the airline to issue millions of new shares valued at nearly twice its current market capitalization.
Mesa is expected to ask permission tomorrow at the carrier's annual shareholders meeting to sell as much as $37.8 million in new common stock. The shares would help the airline pay senior convertible notes in June and bolster the company's beleaguered operation.
If it's not able to sell more shares, Mesa said in a regulatory filing that there "can be no guarantee that the company would have adequate cash resources" to pay back those notes.
NEWSDAY SOLD IN $650 MILLION DEAL
NEW YORK — Tribune Co. agreed yesterday to sell the Long Island newspaper Newsday to Cablevision Systems Corp. for $650 million.
The deal — structured as a tax-free joint venture — would give Tribune $612 million in cash to pay down its nearly $13 billion debt. Two-thirds of that was incurred in December's $8.2-billion buyout of the company, which was orchestrated by Chicago real-estate baron Sam Zell. Tribune owns the Los Angeles Times, the Chicago Tribune and other media properties around the country.
FEDERAL SITE HELPS SELECT A HOSPITAL
Even for the most diligent shoppers, healthcare has long been a difficult area. Although scores of Web sites can lead you to a good restaurant or a deal on a TV set, few will help you choose a hospital.
One site worth visiting is the Hospital Compare Web site www.hospitalcompare.hhs.gov of the U.S. Department of Health and Human Services.
An easy-to-use search tool enables you to find and compare hospitals in your area on 36 criteria, such as the percentage of surgery patients who received the appropriate preventive antibiotic or the percentage of heart attack patients given aspirin at arrival (the recommended practice).
Hospital performance in certain procedures, such as gallbladder removal, angioplasty or female reproductive operations, can be found by searching "Specific Conditions Or Procedures."
And be sure to view the patient assessments of hospitals on criteria such as nighttime noise level, bathroom cleanliness and the communication skills of doctors and nurses.
NEW BLACKBERRY MODEL UNVEILED
NEW YORK — Research In Motion Ltd. today is introducing its first major new BlackBerry model in more than a year: the Bold, a high-end model that further demonstrates the company's desire to make tools for both work and play.
The Bold, or 9000, has twice the screen resolution of the current Curve model, making for a very sharp display. It matches the resolution, but not the size, of the screen on Apple Inc.'s iPhone, which has emerged as a potent competitor in the "smart phone" category.
It also has more internal memory, a glossy metallic look, and adds Wi-Fi capabilities to third-generation cellular and Bluetooth radios.
Waterloo, Ontario-based RIM didn't announce a price for the Bold, nor agreements with specific carriers. It said the phone would be available from various carriers this summer.
LUMBER PRODUCER HIT HARD BY SLUMP
Weyerhaeuser Co., the largest North American lumber producer, plans to sell forests and sawmills in Australia amid mounting losses from slowing U.S. housing markets.
Weyerhaeuser is cutting spending, selling assets and closing mills to stem losses amid falling U.S. demand for lumber used in home building. The company last week reported a $148 million first-quarter loss. No price was disclosed for the sales that are subject to approval by Australian regulators and the Weyerhaeuser board.
