Short Reports

Tue., Nov. 28, 2000

From Staff

Billionaire investor Kirk Kerkorian filed a $9 billion lawsuit Monday against DaimlerChrysler AG, accusing chairman Juergen Schrempp of falsely telling Chrysler shareholders that the 1998 combination with Daimler-Benz was a “merger of equals.” The Los Angeles-based Tracinda, which Kerkorian uses to control his investments, said in a statement that it is seeking to unwind the $34billion deal. It claims that it would have never voted for the merger if it had been presented as a takeover of Chrysler.

The National Association of Realtors reported that existing home sales fell 3.9 percent in October after a 2.3 percent drop in September.

Japan Airlines has ordered eight Boeing 777-200ERs and three 767-300ERs worth an estimated $1.6 billion, Boeing Commercial Airplanes Group announced Monday.

E-Stamp Corp. said Monday it is getting out of the online postage business, abandoning a ballyhooed concept that it pioneered.

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Short Reports

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