REDMOND – Calling it the single most important strategic move it could make, AT&T Wireless said Monday it would acquire the 77 percent of TeleCorp PCS it doesn’t already own for $2.4 billion in stock. AT&T Wireless, the nation’s third-largest wireless carrier, also will assume $2.1 billion in debt and about $221 million in preferred securities. The move will allow Redmond-based AT&T Wireless to boast a “footprint” – a geographic area where cellular phone coverage is available – that is on par with the nation’s largest wireless carriers. That gives AT&T Wireless the ability to market to millions more potential customers and compete more aggressively with rivals such as No. 1 wireless provider Verizon.
SEATTLE – Horizon Air said Monday that it will reinforce cockpit doors with deadbolt devices to hinder unauthorized access to the flight deck. The work should be completed this week on the carrier’s entire fleet of 61 aircraft. Horizon said it expects the deadbolt devices to be an interim measure.
MADRID, Spain – Starbucks Corp. said Monday it will open its first coffee shop in Spain, its first Spanish-speaking market, next spring under a joint venture with two companies in Madrid and Barcelona. Starbucks, based in Seattle, said the agreement was signed with Madrid-based Grupo Vips and Europastry SA of Barcelona.
SEATTLE – Same-store sales at retailer Nordstrom Inc. dropped 9.4 percent in September compared with a year ago as terrorist attacks further undermined a weak economy. Sales were $398.5 million compared to $424 million in September of last year. Nordstrom said its weak performance was boosted slightly by the first few days of a special sale that began Sept. 28. The company has already been forced to cut costs, including laying off 1,600 employees nationwide. Nordstrom employs about 45,000 people.
NEW YORK- Merck offers on-site auto maintenance for employees at its New Jersey headquarters. SAS prepares take-home dinners and brings in a hairstylist three times a week. Bristol Myers Squibb sends baby formula to an employee’s home for a newborn’s first year. These and other perks make these companies among the best at helping working moms balance their careers with the rest of their lives, according to Working Mother magazine, which issued its 16th annual list of top employers Tuesday. Out of the top 100, Working Mother recognized 10 companies as exceptionally progressive: Bristol-Myers Squibb Co., Citigroup Inc., Fannie Mae, IBM Corp., Marriott International Inc., Morgan Stanley Dean Witter &Co., PriceWaterhouseCoopers, Procter &Gamble, Prudential Financial Services and Texas Instruments.
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