ImClone ex-CEO pleads the Fifth before Congress

WashinGton >> The former chief executive of ImClone Systems invoked his Fifth Amendment right against self- incrimination today and refused to answer questions at a House hearing examining the failure of a cancer drug that cost investors millions and disappointed cancer patients.

Asked by subcommittee chairman Rep. Jim Greenwood, R-Pa., whether ImClone's strategy "was to put personal profiteering ahead of patients," Samuel Waksal said he was asserting his constitutional privilege and declining to answer lawmakers' questions. Waksal was out on bail from his arrest yesterday on securities fraud.

United Airlines may look for loan guarantees

NEW YORK >> The chairman and chief executive of United Airlines, John Creighton, said that the nation's second-largest carrier will apply for a loan guarantee from the federal government by the June 28 deadline if it receives unspecified concessions from workers.

Creighton said the airline has already made "considerable headway in securing employee commitments" but that the negotiations have taken longer than anticipated. If recent history is any lesson, though, United could apply for the federal loan assistance without finalizing the desired concessions from employees.

In other news ...

WASHINGTON >> Nine states fighting to bring stronger antitrust sanctions against Microsoft cleared a legal hurdle yesterday as a federal judge decided they have the right to seek penalties that would apply nationwide.