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The Tampa Tribune

Published: July 1, 2009

Lykes Insurance names Brabson CEO

Lykes Insurance Inc. named John A. Brabson president and CEO. Brabson has been on the board of Lykes Bros. for more than 20 years, and served as chairman from 1996 through 1999.

Brabson led Peoples Gas System Inc. through a period of growth and served as its CEO and president for 10 years. He also served on the board of Outback Steakhouse for 15 years, is a former United Way chairman and served as chairman of the Tampa Bay Partnership for two years.

Company changes ticker symbol

Montreal-based CAE, parent of Tampa-based aircraft simulator manufacturer CAE USA, will changes its ticker symbol on the New York Stock Exchange on Thursday from "CGT" to "CAE."

Judge revokes Stanford's bond

A federal judge Tuesday revoked the bond of Texas financier R. Allen Stanford, ordering he be kept in jail while he awaits trial on charges alleging he swindled investors out of $7 billion.

U.S. District Judge David Hittner issued an order overturning a magistrate judge's decision last week to allow Stanford to be free on $500,000 bond but be under GPS monitoring and home detention. Stanford has been in custody since being indicted and arrested June 18.

United Airlines, travel agents tussle

United Airlines has caused an uproar among travel agents with plans to force them to pay credit-card fees - or pass them along - when their customers buy tickets with plastic.

United, the nation's third-largest airline, sent notices to some travel agents in the past two weeks saying that beginning July 20, they must pay the credit-card fee when leisure or corporate customers buy tickets with Visa, MasterCard, American Express or another card.

Oil prices dip after hitting a high

Oil prices fell in volatile trading Tuesday not long after hitting an eight-month high.

Benchmark crude for August delivery dipped $1.60 to settle at $69.89 a barrel on the New York Mercantile Exchange after swinging between $68.90 and $73.38 in early trading.

It has been an extraordinarily volatile year, which began with crude prices near $40 per barrel, less than a third of what a barrel cost in July, before going on an extended rally for the past two months as the second quarter comes to a close.

Deere trimming 800 salaried jobs

Deere & Co. said Tuesday about 800 salaried workers have decided to leave the world's largest farm machinery maker under a voluntary separation program.

The number of workers taking the offer was about four times as many as the company expected when it announced the program in April and represents about 3 percent of Deere's overall salaried work force.

The company expects to realize $75 million in savings in the first year, after pretax expenses of about $100 million recorded mostly in the fourth quarter. Previously, the company expected $50 million in savings.

A staff and wire report

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