Business & Finance
Despite its heavy financial losses, United Airlines will not file for bankruptcy, a spokeswoman for its parent company said. She said "everything is on the table" as the troubled carrier explores ways to return to stability, although "bankruptcy is not part of that process." United had two of its planes hijacked by terrorists Sept. 11, reported an industry-leading net third-quarter loss of $1.16 billion, and is breaking in a new chief exective after his predecessor was ousted for warning that the company could fold next year unless the flow of red ink stopped. And last week its 15,000 unionized mechanics authorized a strike after earlier rejecting arbitration of their longstanding dispute over a pay increase.
A settlement is expected to be finalized this week between
Pfizer Inc., the world's largest maker of pharmaceuticals, and a Texas patient who claimed permanent injury from the company's controversial diabetes drug. The use of Rezulin, manufactured by Warner-Lambert, which was acquired by Pfizer a year ago, has been linked to 63 deaths and thousands of other injuries. Last Friday, Pfizer lost a $43 million suit in state court in Corpus Christi, Texas, and the jury was considering adding on punitive damages when the confidential settlement with lawyers for the patient was announced. Rezulin was sold between 1997 and last year. Other class-action lawsuits are pending against Pfizer because of the drug.