Business | WABE 90.1 FM

Business

Business news

Atlanta – Georgia-Pacific Corp. continued to be weighed down by asbestos litigation and settlements, posting a deeper loss in 2002.
The Atlanta-based pulp and paper products giant (NYSE: GP) had a net loss of $735 million on $23.3 billion in sales in 2002, compared with a net loss of $407 million on $25 billion in sales in 2001. Loss per share was $3.09, compared with loss per share of $2.10 in 2001.

Atlanta – Atlanta-based Centennial HealthCare Corp. filed for Chapter 11 bankruptcy protection on Dec. 20.
Centennial, which operates and manages 86 nursing homes in 19 states, including Ashton Woods Rehabilitation Center in Chamblee, listed debts of more than $100 million, according to court filings. It had estimated assets of up to $50,000, according to the documents.

Atlanta – Northwest Airlines Corp. has extended its e-ticketing service through an arrangement with Atlanta-based Delta Air Lines Inc.
The agreement allows passengers to use e-tickets for travel on either of the airlines. Until this agreement, different tickets had to be issued for each leg of a trip involving both Northwest and Delta (NYSE: DAL).
Eagan-based Northwest already has similar arrangements with American, United, Delta and Continental.

Atlanta – Embattled firm WorldCom Inc. will cut 82 jobs in Atlanta by February 2003, according to the Georgia Department of Labor.
Clinton, Miss.-based WorldCom declared bankruptcy in July amid an $8 billion accounting scandal. In November, it reported it may have hid another $2 billion.
Atlanta's ties to the long-distance phone company run deep.

Pages