Originally created 11/19/02

Business briefs



Credit bureau makes deal on reports

Merchants Credit Bureau in Augusta has aligned with a Connecticut company that sells credit reports to regional and community banks and to credit unions via the Internet.

The company, SS&C Technologies Inc. of Windsor, Conn., last week signed a resellers agreement to offer Merchant Credit Bureau's reports through BANCMall, SS&C's Web-based lending, leasing and research service.

The partnership creates "a unique delivery channel that gives financial institutions secure access to the three major credit data repositories," said Brian McKinney, Merchants' vice president of sales.

BRIEFLY

Comcast completes Broadband purchase

PHILADELPHIA - Comcast Corp., the cable television company that started four decades ago with 1,200 subscribers in Mississippi, completed the acquisition of AT&T's cable division Monday for $29.2 billion in stock to become the nation's largest cable operator.

Comcast had been the country's third-largest cable company, with 8.5 million customers. Acquiring AT&T Broadband, the nation's largest cable operator, created a new Comcast Corp. with 27 million subscribers, nearly twice as many as No. 2 AOL Time Warner Inc.

Lowe's reports earnings increase

CHARLOTTE, N.C. - Lowe's Cos., the second-largest home improvement retailer in the nation, reported a 35 percent increase in third-quarter earnings Monday, beating Wall Street expectations amid a robust housing market and the refinancing boom.

Lowe's reported net earnings of $339.2 million, or 43 cents a share, in the three months ending Nov. 1, up from $250.4 million, or 32 cents a share, in the same three months last year.

SEC opens file on Tenet Healthcare

SANTA BARBARA, Calif. - Tenet Healthcare Corp., already under federal scrutiny over Medicare payments, notified shareholders Monday that the Securities and Exchange Commission has opened an informal file on the hospital operator.

Tenet said company officials met last week with SEC representatives to discuss special Medicare payments known as outliers and the unusually high amount of trading in Tenet stock over the past few weeks.