Originally created 07/25/02

Business briefs



BRIEFLY

Savannah's port has traffic increase

SAVANNAH - During fiscal year 2002, 1,660 vessels called on the Port of Savannah, representing an 8.6 percent increase or an additional 132 vessels as compared to fiscal year 2001.

Georgia Ports Authority finished fiscal year 2002 with double-digit container growth, an impressive feat considering the sinking economy.

For the second year in a row, the authority moved more than 1 million 20-foot equivalent units, the 20-foot-long corrugated metal containers called TEUs.

Sources say sale of Burger King near

LONDON - Diageo PLC is nearing a deal to sell fast-food business Burger King Corp. for at least $2.1 billion, sources knowledgeable about the talks said Wednesday.

A consortium led by Texas Pacific Group, a U.S. venture capital firm, is the potential buyer. Discussions progressed through the night, and an agreement was believed to be imminent, possibly by the end of the day, the sources said, speaking on condition of anonymity.

Burger King spokesman Rob Doughty declined comment Wednesday, as did Texas Pacific.

Regulator reports surge in cable rates

WASHINGTON - Cable rates have shot up far more than inflation, despite the government's effort to deregulate the telecommunications industry and foster competition, consumer and industry groups say.

Consumers Union, which publishes Consumer Reports magazine, says rates have risen 45 percent since 1996, when the Telecommunications Act passed ordering the deregulation of the cable industry.

But industry officials dispute those numbers because deregulation didn't begin until 1999. The National Cable & Telecommunications Association says cable rates increased about 17 percent during the three-year period of deregulation.

Either way, the numbers dwarf the rates of inflation during that period.