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Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, March 29, 2000

Meeting to address work and marriage

Dr. Robert Welch of the downtown Mental Fitness Center will speak about handling the stress work puts on marriage at the American Business Women's Association meeting April 12.

The group will meet at the Pacific Beach Hotel in Waikiki from 5:30 p.m. to 9 p.m. Cost is $18, including food and beverage. Call Linda Yamashiro at 597-5391 by April 9.

CDNow admits financial troubles

WASHINGTON -- CDNow Inc. said in a regulatory filing that it cannot assure it will be able to obtain the financing necessary to continue to support its business.

The company said it has retained Allen & Co. to explore strategic options and alternative financing arrangements, and is seeking third-party financing or a merger.

In its annual report filed late yesterday with the Securities & Exchange Commission, CDNow said its independent public accountant, Arthur Anderson L.L.P., expressed "substantial doubt" about the company's ability to continue as a going concern. Fort Washington, Pa.-based CDNow is an online retailer of compact disks and other music products.

Lycos launching 'Net incubator

WALTHAM, Mass. -- Internet portal Lycos Inc said today that it will launch a business incubator unit to nurture and invest in early-stage Internet start-ups.

The unit, called LycosLabs, aims to identify promising Net-based firms by providing guidance, business services and investment of up to 20 percent of a firm's funding, said Jeff Crown, Lycos vice president and general manager.

"We get to play the role of kingmaker," Crown said.

In other news . . .

OAK BROOK, Ill. -- McDonald's Corp., is planning to increase the number of its non-hamburger restaurants this year, the world's largest fast-food chain said today. McDonald's will open 160 to 180 new restaurants under its Chipotle Mexican Grill, Donatos Pizza and London-based Aroma Cafe brands, the company said.