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Satellite insurers seek arbitration

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The insurers initiated legal proceedings in the International Chamber of Commerce in Paris in an attempt to win compensation for claims they have paid, the report said, citing an industry official involved in the issue.

A Boeing spokesman could not be reached for comment.

Boeing has admitted there was a design problem on the first versions of its 702 spacecraft and has made changes.

The defects forced costly fixes by the satellites' owners and caused insurance premiums on the equipment to increase, the newspaper said.

Underwriters claimed Boeing failed to remedy the defects quickly or give owners proper warning, the Journal said.

The case involves Middle Eastern concern Thuraya Satellite Communications, to which insurers have paid about $250 million, the report said.

BAE Systems

Deal for DigitalNet to boost U.S. presence

BAE Systems, Europe's largest defense company, said yesterday it had agreed to buy DigitalNet Holdings for $494.4 million to expand U.S. sales.

Herndon, Va.-based DigitalNet has 2,200 employees and sells network security software to U.S. defense and intelligence agencies.
 
BAE will pay $30.25 for each share of Digital NetNet, a 28 percent premium to Friday's closing price of $23.56. It will assume $93.3 million in debt.

BAE owns 20 percent of jet maker Airbus.

Sears, Roebuck

Home furnishings, clothes for sale online

NEW YORK — Sears, Roebuck, which has successfully sold its tools and appliances on the Web, today begins online sales of home furnishings and apparel.

Sears.com has incorporated some of the features its Lands' End unit pioneered on the Web, such as the "virtual model," where customers can enter body measurements to get an idea of how the outfit will look.

There are also features not yet on Landsend.com such as a zooming technology that focuses on fabric and texture of the merchandise.

Sears.com will also have a virtual decorator, allowing customers to click on such choices as bedding, floor finishes, paint, lamps and wall décor.

A virtual kitchen will be added in the fall.

About 50 percent of Sears' apparel offerings and 70 percent of its home furnishings will be available on Sears.com.

Industry analysts praised the site for innovation but said it might hurt the retailers' efforts to improve sluggish clothing sales at its 820 stores, which has dragged down the company's overall business.

Stamps.com

Some images don't cut it for stamp fame

Stamps.com has made some changes since introducing its service that lets you put mom's picture on a real U.S. postage stamp. Unless mom is Mae West or Imelda Marcos or Bonnie Parker.

The company added restrictions after The Smoking Gun Web site, co-owned by Time Warner and Liberty Media, tested the boundaries. They tried to get stamps processed featuring Lee Harvey Oswald, the Unabomber and Salvatore "Sammy the Bull" Gravano. All three were rejected.

Undaunted, it successfully ordered stamps featuring New Jersey Gov. James McGreevey and his alleged gay lover; Monica Lewinsky's blue dress; and Slobodan Milosevic.

The Stamps.com personalized postage-service test ends Sept. 30.

The U.S. Postal Service will review it and decide its fate.

Meanwhile, Stamps.com has tightened its policy on uploaded pictures and is charging a $10 fee for each graphic submitted which "violates our content restrictions."

Compiled from Reuters, The Associated Press and CBS MarketWatch