Originally created 02/20/03

Business briefs



TAX TIPS

Address changes

Have you changed addresses lately? Notify the IRS to ensure you receive any refunds or correspondence. Although the IRS accesses the Postal Service's files, you might want to notify the agency directly using Form 8822. For more tips, go to www.augustachronicle.com/taxtips.

AROUND TOWN

Developer finishes N. Carolina project

Augusta real estate firm Blanchard & Calhoun Commercial Corp. announced Wednesday that it has completed development of a $7 million shopping center project in Winston-Salem, N.C.

Senior Vice President Mark Senn said the 67,000-square-foot River Ridge Center is anchored by a 38,000-square-foot Food Lion grocery store and a 7,500-square-foot Dollar General store. An Eckerd drug store has been developed on an outparcel.

The development is Blanchard & Calhoun's fourth major retail project in North Carolina.

BRIEFLY

Ex-FBI director will mediate dispute

ATLANTA - William Webster, the former FBI and CIA director, has been chosen to decide a dispute between telephone companies BellSouth and Sprint over a top executive.

Lawyers for both companies agreed to the selection Wednesday. At issue is the fate of BellSouth Vice Chairman Gary Forsee, who wants to leave the Atlanta-based company to replace William Esrey as chief executive of Overland Park, Kan.-based Sprint.

BellSouth went to court last month to stop Mr. Forsee from taking Mr. Esrey's job, citing concerns that he could disclose key information about BellSouth's business.

Pharmacia Corp. gets boost to income

TRENTON, N.J. - Pharmacia Corp. said Wednesday that fourth-quarter net income soared as a result of one-time gains in the quarter, a large restructuring charge and other costs that hurt profits a year earlier.

Including those special items, the drug maker's net income surged to $554 million, or 41 cents per share, from $86 million, or 6 cents per share, in October-December 2001.

Pharmacia, the maker of Rogaine baldness treatment and the blockbuster arthritis drug Celebrex, said adjusted net income was $530 million, or 40 cents per share, matching the forecast of analysts surveyed by Thomson First Call.