Business briefs

Thursday, Jan. 27, 2000 | 11:50 a.m.

Automaker beats profit expectations

DEARBORN, Mich. -- A broad improvement in auto and financial operations allowed Ford Motor Co. to post slightly better earnings for the fourth quarter than financial analysts had expected, but the automaker's shares fell on fears that further profit gains might prove elusive.

Ford's profits surged in North America, despite a one-time, $103 million charge related to last autumn's labor contract with the United Automobile Workers, while the company's losses narrowed in Europe and South America.

Ford Credit, the company's division for car loans and leases, posted a 32 percent gain in profits after several years of flat earnings. Among Ford's biggest units, only its auto parts division, Visteon, posted slightly worse results than a year earlier.

Altogether, Ford earned $1.81 billion, or $1.47 a share, up 73.2 percent from profits of $1.04 billion, or 84 cents a share, a year earlier. The earnings per share were 2 cents better than the consensus of analysts' forecasts issued by First Call/Thomson Financial.

Even excluding various one-time charges in the last quarter and a year earlier, Ford's earnings were up 14 percent. Sales rose to $44.42 billion from $37.90 billion.

Feds to regulate some manufacturing work at home

WASHINGTON -- The Labor Department will issue a formal policy directive stating that it will not hold companies responsible for the safety of telecommuting employees' home offices, the Clinton administration has told Congress.

However, workers who do more hazardous types of at-home jobs, such as manufacturing piecework involving dangerous materials, are protected by federal safety laws, the administration says.

"The bottom line is, as it has always been, that OSHA will respect the privacy of the home and expects that employers will as well," Assistant Labor Secretary Charles N. Jeffress said.

Amid criticism from corporate America and Capitol Hill earlier this month, the Labor Department withdrew an advisory letter telling a Texas credit services firm it was legally responsible for the safety of its sales executives whether they worked at home or in the office.

New battery lasts much longer

ST. LOUIS -- Eveready Battery Co. Inc. has developed a new battery that lasts longer -- in some cases, more than twice as long as standard alkaline batteries, the company announced today.

The new Energizer e2 (e-squared) titanium battery is expected to begin appearing on store shelves this summer. The suggested retail price will be 32 percent higher than that of the regular Energizer battery. A four-pack of Double-A Energizer e2s will cost about $4.59, compared to $3.49 for a four-pack of regular Energizer Double-A batteries.

Jeff Ziminski, director of U.S. marketing for St. Louis-based Eveready, said research found an unmet need in the battery market.