Short Reports

Fri., Feb. 19, 1999

From Staff

United Parcel Service’s profit rose 37 percent in the fourth quarter and 87 percent for the year, citing a profitable global expansion and full recovery from a 1997 strike.

Pennzoil-Quaker State Co. is voluntarily recalling its Fix-A-Flat tire inflator products, saying they might cause tires to explode if improperly exposed to extreme heat after use.

A bigger-than-expected decline in demand for farm equipment has led Deere & Co. to extend summer plant shutdowns by up to five weeks in East Moline, Ill., and Moline, Ill. Earlier this week, Deere reported a 75 percent drop in first-quarter profits from a year ago.

A jury ordered DaimlerChrysler to pay $58.5 million in a class-action lawsuit filed by a woman whose hand was burned when her car’s air bag inflated in an accident. The jury awarded $730 to each of 75,000 plaintiffs from Pennsylvania to buy safer air bags for Chrysler vehicles made between 1988 and 1990. The state court jury also awarded $3.8 million in punitive damages. The automaker plans to appeal.

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Short Reports

Jesse Tinsley

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