Originally created 09/17/02

Business briefs



Court hearing postponed

AIKEN - A court hearing on alleged labor law violations at the Aiken Wal-Mart store has been postponed from Sept. 23 to Feb. 3.

The federal National Labor Relations Board charged the retailer with violations that reportedly occurred during a union-busting campaign at the store during the past year.

The charges stem from a probe into complaints filed by the United Food and Commercial Workers International Union on behalf of several Aiken store employees.

BRIEFLY

Group to acquire National Golf

SANTA MONICA, Calif. - An investor group led by Goldman Sachs Group Inc. affiliates Monday said it would acquire National Golf Properties Inc. and its largest tenant, closely held American Golf Corp. , in a deal valued at about $1.1 billion, including debt repayment.

National Golf is a real estate investment trust that owns 116 golf courses in 22 states. American Golf leases and operates more than 300 golf courses, including nearly all of National Golf's properties. Both companies are based in Santa Monica.

Inventory values up

WASHINGTON - For the third straight month, U.S. companies replenished their stockpiles in July, providing a bright spot for the struggling economic recovery.

Supplies of unsold goods on shelves and back lots jumped by 0.4 percent in July from the previous month, lifting the value of inventories to a seasonally adjusted $1.1 trillion, the Commerce Department reported Monday. Big factors in July's gain: automobile dealers stocked up on cars and trucks to meet consumer demand stoked by free financing and other incentives.

Competitor sues Sallie Mae

WASHINGTON - A competitor of Sallie Mae on Monday sued the nation's largest holder of student loans, alleging that it improperly denied borrowers the right to consolidate education loans with the lender of their choice.

College Loan Corp., which filed the lawsuit in federal court in Alexandria, Va., also alleged that Sallie Mae has illegally offered inducements such as free software to colleges and universities to get them to steer students to lenders that sell their loans to Sallie Mae.