STOCK QUOTES     More market data...

Business Digest
Alaska Air Group changes auditors

E-mail this article Print this article Search archive Most read articles Most e-mailed articles

Alaska Air said the former auditor had found that on its 2003 financial statements, the company needed to improve its process for analyzing the account detail on its balance sheets, and that Horizon was not reconciling its inventory of expendable parts on a timely basis. Also, in connection with its audit of Alaska's 2002 financial statement, Deloitte advised the company's audit committee of design deficiencies related to password controls for certain software.

Deloitte was dismissed Aug. 10, and through that date there were no disagreements between the company and its auditor on accounting or disclosure questions under SEC rules, the filing said.

Alaska paid Deloitte $1.3 million for its work in 2002, the company reported last spring.

Warner Bros. buys Kirkland video-game producer

Warner Bros. has expanded its interactive gaming capabilities by acquiring Kirkland video-game producer Monolith Productions, officials said.

Monolith, which has created "Alien vs. Predator 2," "Tron 2.0" and "No One Lives Forever," will become part of Warner Bros. Interactive Entertainment, which licenses video games, co-publishes games and produces multiplayer online games, including "The Matrix Online."

Terms of the deal, which will close Oct. 1, were not disclosed.

Jason Hall, senior vice president of Warner Bros. Interactive Entertainment, co-founded Monolith Productions in 1994 and was recruited by Warner Bros. while the two companies developed "The Matrix Online."

Warner Bros. Entertainment bought a small stake of Monolith last year and has chosen to exercise its option to buy the company.

Monolith's headquarters and its 150 employees will remain in Kirkland.
 
"K" Line container shipper leaving Portland

PORTLAND — One of the last remaining Asian container-shipping lines serving Portland is leaving the area, a blow to the Port of Portland that jeopardizes hundreds of longshore and trade jobs.

A "K" Line official confirmed the plan to The Oregonian newspaper for its Friday editions. The withdrawal leaves Portland with just one trans-Pacific container carrier, Hanjin Shipping.

The news comes one month after Hyundai Merchant Marine, a Korean shipping line, said it would stop calling on Portland in mid-September.

"K" Line will continue its car-ship service and bulk-grain service to Portland.

Nation and World

Federal judge may unseal documents on Oracle price cuts

SAN FRANCISCO — A federal judge who will decide whether Oracle can pursue a hostile takeover of PeopleSoft said yesterday he may release sealed documents detailing price discounts Oracle gave customers to compete with rivals.

U.S. District Court Judge Vaughn Walker in San Francisco, who is expected to decide by the end of August whether Oracle's $7.7 billion proposed takeover of PeopleSoft violates federal antitrust rules, rejected Oracle's request to keep the documents secret. He said the discount information is "highly relevant" to the case and shouldn't be kept under seal.

The U.S. Justice Department, which sued to block the takeover, saying it will stymie competition and drive up software prices, presented the secret discount information during a monthlong trial that ended in July. It sought to show that price cuts will disappear if Oracle acquires PeopleSoft.

Oracle is seeking to acquire PeopleSoft to boost its business-applications software business. The Justice Department says only Oracle, PeopleSoft and Germany's SAP supply software in the U.S. to automate financial and human-resources departments at large corporations.

Compiled from Times staff, The Associated Press and Bloomberg News