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Wednesday, Oct. 7, 1998
Business Briefs
German firm to buy 50% in barnesandnoble.com
Bertelsmann AG, the world's biggest publisher of English-language books, said it will buy a 50 percent stake in barnesandnoble.com. Bertelsmann and Barnes & Noble will each invest $100 million in the No. 2 online bookseller.
The investment from the German publisher could help barnesandnoble.com catch up with industry leader Amazon.com, analysts said. Bertelsmann is the world's third-largest media company and owns publishers including Random House and Bantam Doubleday.
The planned initial public offering of barnesandnoble.com will be postponed while an amended registration statement is drawn up, a spokeswoman said.Boeing to raise airplane unit profits with job cuts
The new head of Boeing Co.'s civil airplane division, Alan Mulally, said he's confident that the troubled unit can earn money faster than the jetmaker had planned, partly by cutting more jobs.
He said the effort would mean job cuts beyond the 28,000 now planned for the Seattle-based company's 235,000-strong workforce.Post your comments about local news eventsFront Page || Main Index || News || Business || Texas || South Texas Outdoors || Birdwatching || Sports || Entertainment || Selena || Education || South Texas Attractions || World Wide Web