A consumer group asked the FTC to investigate and block Google Inc. (GOOG)’s proposed $3.1 billion purchase of DoubleClick Inc. unless the companies improve privacy protections. The Electronic Privacy Information Center’s complaint alleges that Google and DoubleClick collect exhaustive personal information on consumers but don’t adequately protect that information.
The chief executive of JetBlue Airways (JBLU) apologized for his airline’s performance during a Valentine’s Day storm, but argued against proposals to restrict how long airplanes can wait on tarmacs before passengers have the right to deplane. Kate Hanni, founder of the Coalition for an Airline Passengers’ Bill of Rights, testified about eight hours stranded aboard an American Airlines plane last year.
Xerox (XRX) profits jumped nearly 17 percent in the first quarter of the year to $233 million, the Stamford, Conn., company announced Friday, on the strength of solid revenue gains and cost-cutting measures. Earnings per share were 24 cents, up from 20 cents in Q1 2006. Revenue was up by 4 percent, to $3.8 billion, a reversal from a 2 percent loss in the same quarter last year.
Clear Channel Communications Inc. (CCU), the largest U.S. operator of radio stations, said Friday it agreed to sell its 56 television stations to a private equity firm for $1.2 billion. The company had announced it would sell the stations in November, part of a divestiture that includes the possible sale of 448 radio stations. Clear Channel owns more than 1,100 radio stations nationwide.