Reported by Star-Bulletin staff & wire
Tuesday, November 30, 1999
Judge approves Dow Corning planBAY CITY, Mich. -- A judge today approved Dow Corning Corp.'s $4.5 billion plan to emerge from bankruptcy, which includes $3.2 billion to settle claims filed by women with silicone breast implants.
U.S. Bankruptcy Judge Arthur Spector confirmed the settlement during a 20-minute hearing, saying he would elaborate in a second opinion to be issued next week.
The judge cautioned that appeals could hold up payment to the claimants.
Dow Corning spokesman T. Michael Jackson said the judge approved a provision barring further lawsuits against Dow Corning's corporate parents -- Dow Chemical Co. and Corning Inc. -- and a ban on punitive damages in any future lawsuit by implant recipients who don't sign the agreement.
Airlines rescind latest fare increaseFORT WORTH, Texas -- American, United and Continental airlines canceled last week's 3 percent fare increases as rivals failed to follow, an Internet site that tracks fares said.
American, the second-largest U.S. carrier, raised its prices last week to help offset rising jet fuel costs but was forced to pull back yesterday, Bestfares.com said. Biggest carrier United and No. 5 Continental canceled their increases yesterday. The carriers' latest attempt at a price increase also fizzled.
Amazon.com buys Back to Basics ToysSEATTLE -- Amazon.com Inc. said today it had acquired Back to Basics Toys, a Herndon, Va., online and catalog retailer that specializes in old-fashioned toys. Terms were not disclosed.
Amazon, the Seattle-based online retailer, opened a Back to Basics store today on the Toys part of its Web site.
Juno Online to pay for subscribersNEW YORK -- Juno Online Services Inc., the Internet-service provider controlled by hedge-fund manager David Shaw, said it will pay customers $50 in cash for each new subscriber they recruit in December.