Originally created 11/05/04

Business briefs



CSRA Hall of Fame set for Wednesday

Junior Achievement of Georgia's Augusta district will induct four area business leaders, one posthumously, into the CSRA Business Hall of Fame on Wednesday evening.

The black-tie dinner event, which begins at 6:30 p.m. at Radisson Riverfront Hotel Augusta, recognizes influential business leaders who serve as role models to youth. Call (706) 722-8345 for ticket information.

Altria Group mulls splitting, spinoffs

NEW YORK - Altria Group Inc. is beginning to make the preparations to possibly split up into several parts in order to maximize shareholder value, CEO Louis Camilleri said Thursday.

The spinoffs could include splitting up its two tobacco businesses, Philip Morris USA and Philip Morris International. Altria also owns 80 percent of Kraft Foods Inc.

Oil prices plunge below $50 a barrel

VIENNA, Austria - Oil futures prices fell more than $2 a barrel Thursday, continuing a selloff that began last week amid rising U.S. supplies of crude.

Also helping push prices below $49 a barrel was an Energy Department report showing a larger-than-expected increase last week in the amount of natural gas in storage.

Eckerd deal drags down CVS profits

PROVIDENCE, R.I. - CVS Corp. reported lower profits for the third quarter, as it took on costs of acquiring rival Eckerd's stores and mail order pharmacy business. The earnings still beat analyst expectations.

CVS reported Thursday that it earned $184.6 million, or 44 cents per share, down from $187.8 million, or 46 cents per share, a year ago.

Road warrior blues

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