Morning Briefs

The Florida Times Union, February 2, 2005 | Go to article overview

Morning Briefs


ST. JOE TAPS MORGAN STANLEY BANKER FOR CFO

The St. Joe Co. said Tuesday that Anthony Corriggio will be joining the company as chief financial officer. Kevin Twomey, who has been serving as CFO, will continue as president and chief operating officer of the Jacksonville-based real estate development company.

Corriggio is a former investment banker with Morgan Stanley Real Estate in New York. At Morgan Stanley, he was involved in several St. Joe stock offerings and served as an adviser to the company on other strategic initiatives.

Mark Basch/The Times-Union

U.S. AUTOMAKERS REPORT WEAK JANUARY SALES

The nation's two biggest automakers, General Motors Corp. and Ford Motor Co., reported soft sales in January while DaimlerChrysler AG's Chrysler Group and Japan's Toyota and Nissan reported healthy gains in their U.S. sales. The industry leader GM said Tuesday its overall sales increased 1 percent last month, while Ford, the nation's second biggest automaker, reported a 5.1 percent sales decline from January 2004. But Chrysler had its 10th consecutive month of year-over-year sales growth, with overall vehicle sales up 9.2 percent. January sales rose 15 percent for Nissan Motor Co. and 6.2 percent at its bigger Japanese rival, Toyota Motor Corp. The automakers said harsh winter weather in much of the country hurt sales as did strong December sales.

Associated Press

SBC ANNOUNCES 13,000 JOBS TO BE ELIMINATED

SBC Communications Inc., the second- largest U.S. local-telephone company, will eliminate 13,000 jobs after its planned purchase of AT&T Corp. The positions include 5,100 from sales and business operations, more than 5,100 from engineering and 2,600 from administrative functions such as legal and human resources, San Antonio-based SBC said in slides on its Web site today. The cuts follow more than 20,000 jobs trimmed at AT&T in the past two years as sales fell. U.S. communications companies have fired almost 300,000 workers since March 2001, trimming payrolls by 22 percent, according to the Labor Department. …

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