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Knology reports rise in revenue for 2009

Knology Inc. reported an increase in revenue for 2009, but suffered a loss on net income.

The West Point, Ga.-based communications and cable company reported its year-end results Tuesday, saying it had a net loss of $3.4 million, or 9 cents a share, compared to a net loss of $12 million, or 34 cents a share, in 2008.

The net loss is attributable to a noncash charge of $6.2 million related to the company's interest rate swaps and a $3.4 million one-time expense related to the amendment of Knology's credit.

Excluding these charges, Knology would have posted net income of $6.2 million, or 17 cents per share, for 2009.

Its voice, data and video connections grew by 15,863 for the year, which includes customers acquired through the merger of PCL Cable.

Hummer to shut down after deal collapses

NEW YORK --- Hummer, the off-road vehicle that once symbolized America's love for hulking SUVs, faces a shutdown after its sale to a Chinese heavy equipment maker collapsed.

Sichuan Tengzhong Heavy Industrial Machines Co. said Wednesday it pulled out of the deal to buy the company from General Motors Co. Tengzhong failed to get clearance from Chinese regulators within the proposed timeframe for the sale, the Chinese manufacturer said.

GM said it will continue to honor existing warranties.

GM has been trying to sell the loss-making brand for the last year and signed a deal with Tengzhong in October. However, resistance from Chinese regulators, who have been putting the brakes on investment in the fast-growing Chinese auto industry, created difficulties from the start.

In other news

AN ITALIAN JUDGE held three Google executives criminally responsible for an online video of an autistic teenager being bullied -- a verdict that raises concerns that the Internet giant, and others like it, might be forced to police their content.

HEATING OIL AND natural gas prices inched higher as another winter storm headed toward the Northeast. Heating oil prices for March delivery rose 0.98 cent to settle at $2.0421 per gallon on the New York Mercantile Exchange. Natural gas prices gained 3.8 cents to settle at $4.816 per 1,000 cubic feet.

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