Business digest 05/20/06

Saturday, May 20, 2006

Ford Motor Co. prepares for supplier's strike

DETROIT -- Ford Motor Co. has made preparations for a strike by auto supplier Delphi Corp., but Ford chairman and chief executive Bill Ford said he's been encouraged by reports of progress in negotiations that could avoid a strike. The United Auto Workers and other Delphi unions have threatened to strike if the company throws out its labor contracts and imposes lower wages as part of its restructuring in bankruptcy court. Delphi wants to lower U.S. workers' wages but has been unable to reach a settlement with its unions and General Motors Corp., its former parent and largest customer. The company is now asking a bankruptcy judge for permission to void its contracts.

CDC also links lens cleaner to eye fungus

ROCHESTER, N.Y. -- A federal health analysis released Friday echoed assertions by Bausch & Lomb Inc. that an outbreak of severe fungal eye infections appears to be linked solely to its new-formula contact lens cleaner. The company's shares rose 3.6 percent. The Centers for Disease Control and Prevention said the results of its case-control study indicate that some of the unique components in ReNu with MoistureLoc make the solution more susceptible to contamination by fusarium, a fungus known to cause blindness. Use of other solutions in the ReNu product line, including the older and more widely used MultiPlus brand, did not show "a significantly increased risk for disease," the Atlanta-based agency said. Bausch & Lomb's chief executive, Ronald Zarrella, said the study "should put to rest any further speculation that other products may also be implicated."

Tyson Foods chooses new CEO, president

SPRINGDALE, Ark. -- Tyson Foods Inc. on Friday named Richard L. Bond as its new president and chief executive officer. Bond will be responsible for all operations and sales for the company. He has agreed to stay on as chief of the world's largest meat processor until the end of 2009, according to a company news release. Bond becomes president and CEO immediately. Bond replaces John Tyson, who will continue to serve as chairman of the company's board of directors. The company's chief financial officer, general counsel and senior vice president will continue reporting directly to John Tyson, the company said.

-- From wire reports

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