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Atlanta, GA – Federal stimulus dollars will help the Metropolitan Atlanta Rapid Transit Authority save money and go green.

Today, US Transportation Secretary Ray LaHood announced Atlanta's rapid transit authority is getting about $10 million.

Secretary LaHood says MARTA will use the money to buy solar panel roofs for 22 bus canopies.

Atlanta, GA – Georgia's average Internet connectivity speed is higher than the national average but still slow compared to population centers in the Northeast and the West.

Metro Atlanta's Internet speeds are relatively fast, but the rest of Georgia lags behind, says Annie Hill of the Communications Workers of America, the organization behind the study.

Atlanta, GA – Each month, the Econometrics Center at Kennesaw State University compiles the "Purchasing Managers Index" report. It's a gauge of manufacturing vitality.

For July, Georgia's PMI Report suggests the manufacturing sector is still contracting. That's the bad news. But the good news, according to Kennesaw State's Don Sabbarese, is that manufacturing is contracting a much slower pace than even one month ago.

Mortgage Fraud A Major Factor in Atlana Foreclosure Rates

Atlanta, Ga. – Georgia is reportedly number-one in the country, when it comes to mortgage fraud.

But that statistic is just one reason while residential foreclosures in metro Atlanta have doubled, between 2000 and 2004.

The Atlanta Business Chronicle's Crystal Edmonson has part two of her series on Atanta's high foreclosure rate.

Atlanta, Ga. – Recently, the Texas Transportation Institute released a report, showing that Atlantans have the fourth-worst commute in the nation, ranking behind Los Angeles, San Francisco, and Washington D.C. The study also shows that a 20 minute commute to work in Atlanta, (assuming the driver is going 60 miles per hour) would take almost 30 minutes during peak drive times.

Atlanta – Georgia-Pacific Corp. continued to be weighed down by asbestos litigation and settlements, posting a deeper loss in 2002.
The Atlanta-based pulp and paper products giant (NYSE: GP) had a net loss of $735 million on $23.3 billion in sales in 2002, compared with a net loss of $407 million on $25 billion in sales in 2001. Loss per share was $3.09, compared with loss per share of $2.10 in 2001.

Atlanta – Atlanta-based Centennial HealthCare Corp. filed for Chapter 11 bankruptcy protection on Dec. 20.
Centennial, which operates and manages 86 nursing homes in 19 states, including Ashton Woods Rehabilitation Center in Chamblee, listed debts of more than $100 million, according to court filings. It had estimated assets of up to $50,000, according to the documents.

Atlanta – Northwest Airlines Corp. has extended its e-ticketing service through an arrangement with Atlanta-based Delta Air Lines Inc.
The agreement allows passengers to use e-tickets for travel on either of the airlines. Until this agreement, different tickets had to be issued for each leg of a trip involving both Northwest and Delta (NYSE: DAL).
Eagan-based Northwest already has similar arrangements with American, United, Delta and Continental.

Atlanta – Embattled firm WorldCom Inc. will cut 82 jobs in Atlanta by February 2003, according to the Georgia Department of Labor.
Clinton, Miss.-based WorldCom declared bankruptcy in July amid an $8 billion accounting scandal. In November, it reported it may have hid another $2 billion.
Atlanta's ties to the long-distance phone company run deep.

Atlanta – GE Power Systems plans to acquire Jenbacher, one of the world's leading suppliers of reciprocating gas engines for power generation.
GE and a group of major shareholders of Jenbacher have signed an agreement for the sale of the group's controlling interest in Jenbacher, in cash, to a wholly owned subsidiary of GE as part of a combined private/public transaction. The sale price was not disclosed. The transaction is expected to close in the first quarter of 2003.

Atlanta – In a filing with the Securities and Exchange Commission, SynQuest Inc. said it wants shareholder approval for a reverse split of its common stock to maintain its listing on the Nasdaq SmallCap Market.
The Atlanta-based company (Nasdaq: SYNQ) has not yet decided on a ratio for the split, but suggested a range of between 1-to-2 and 1-to-4.

Atlanta – AtheroGenics Inc. has received positive results from a Phase I clinical trial to assess the safety and tolerability of AGI-1096, its novel oral drug for the prevention of organ transplant rejection.
The trial was an open-label, ascending single dose, safety and pharmacokinetics trial in healthy volunteers. A total of 48 subjects received single doses of the drug, ranging from 5 mg to 640 mg. The results demonstrated that AGI-1096 was well tolerated over the escalating single oral doses studied.

Atlanta – The unsecured bondholders committee of At Home has field a suit in the U.S. District Court in Delaware against Atlanta-based Cox Communications Inc., Comcast, At Home Director Brian L. Roberts and other corporate and individual defendants, alleging they made $600 million through insider profits.
Comcast reported the suit in a filing with the Securities and Exchange Commission.

Atlanta – A South Georgia pesticide-making subsidiary of BASF has been hit with the second-largest fine the U.S. Environmental Protection Agency has ever assessed under the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA).
The EPA settled a complaint against Micro Flo Co. for FIFRA violations and Micro Flo will pay a civil fine of a little more than $1 million.

Atlanta – The Home Depot Inc. plans to acquire Floors Inc., Arvada Hardwood Floor Co. and Floorworks Inc.
Terms were not disclosed.
Our target is the $12 billion of flooring material and services annually consumed in new home construction, said Jim Stoddart, division president of Home Depot Supply.
The three companies have relationships with 17 of the top 20 homebuilders in the country, which upon completion of the acquisitions will instantly make Home Depot the largest turnkey supplier of flooring to the residential construction market.

Atlanta – The Federal Communications Commission has approved BellSouth Corp.'s application to offer long-distance telephone service to its business and residential customers in Alabama, Kentucky, Mississippi, North Carolina and South Carolina.
The Atlanta-based telecommunications giant (NYSE: BLS) already offers long-distance service in Louisiana and Georgia.

Atlanta – Equifax Inc. (NYSE: EFX) has joined the ranks several other major Atlanta businesses and has cut Arthur Andersen as the its independent public accountants.
Equifax said Ernst & Young LLP will replace Andersen.
To date, Atlanta-based Delta Air Lines Inc., SunTrust Banks Inc., ChoicePoint, NDCHealth Corp. and Southern Co. have cut ties with Andersen. Crawford & Co. and Certegy Inc., an Equifax spin-off, have reopened bidding to other firms. The American Cancer Society and Mirant Corp. are considering dropping Andersen.

Atlanta – Southern Co. has cut Arthur Andersen LLP as its auditor and hired Deloitte & Touche LLP as the independent auditor for the company.
Atlanta-based Southern Co. (NYSE: SO) now joins Atlanta-based Delta Air Lines Inc., ChoicePoint and SunTrust Banks Inc., who have already dropped Andersen. The American Cancer Society Inc., one of the largest nonprofit organizations based in Atlanta, is also considering dropping Andersen.

Atlanta – Could Crawford & Co. do an about face and join Delta Air Lines Inc., ChoicePoint and SunTrust Banks Inc. in dropping embattled accounting firm Arthur Andersen LLP?
In a release, the Atlanta-based insurance company services provider (NYSE: CRDA) revealed it has opened the door for a new independent auditor, even though its board already approved Andersen as its auditor for 2002. Andersen has been Crawford's auditor for the past 50 years.

Atlanta – Suburban Lodges of America Inc. ended 2001 in the red, unable to overcome the recession and the falloff in travel following the Sept. 11 terrorist attacks.
The Atlanta-based hotel owner and franchisor (Nasdaq: SLAM) reported a net loss of $15.4 million on $75.5 million in revenue, compared with net income of $5.3 million on $75.3 million in revenue in 2000.
The results for 2001 include a $12.2 million loss on loans to HotelTools Inc., $1.5 million in charges related to the agreement to merge with Intown Suites Management Inc. and other charges.

Atlanta – After several terminal closings, jobs cuts and a divestiture, Allied Holdings ended 2001 deeper in the red.
The Decatur-based automotive logistics company (NYSE: AHI) had a net loss of $39.5 million on $896.8 million in revenue for 2001, compared with a net loss of $6.3 million on $1.1 billion in revenue for 2000.

Atlanta – The Democratic National Committee (DNC) said 10 cities, including Atlanta, will receive official requests for proposals to host the 2004 Democratic National Convention.
In addition to Atlanta, Baltimore, Boston, Chicago, Dallas, Detroit, Houston, Miami, New York City and Pittsburgh received requests.

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