BUSINESS BRIEFS
November 1, 2007 — Auto sales
GM sales may have risen 2.1 percent in Oc tober, marking three straight months of gains for the first time since 2004, while Ford’s could fall 16 percent and Chrysler might slide 7.9 percent, based on a Bloomberg survey. The automakers report re sults today.
Jones keeps up
Jones Apparel Group said third-quarter profit increased sixfold to $400.1 million, or $3.97 a share, after it sold Barn eys New York for $942.3 million in cash.
Wal-Mart
A federal appeals court refused to recon sider a decision that may lead to prison for Thomas Coughlin, the former Wal-Mart vice chairman who pleaded guilty in 2006 to steal ing from the company.
Jag bids
Ford expects to re ceive at least five sec ond- round bids for Jag uar and Land Rover this week, sources said. In dian carmaker Tata Mo tors and buyout firms One Equity, Ripple wood, and TPG are all expected to have made offers by tomorrow, said the sources.
Aon gone
Aon Corp., the world’s second-largest insurance broker, said it would cut 2,700 jobs in a restruc turing plan that will cost the company $360 mil lion before taxes.
Regal Rigas
The headquarters John Rigas built for Adelphia Communica tions as the company slid into bankruptcy drew a winning bid of $3.4 million after a three-week Internet auction. The 72,056 square- foot, three- story office building in Coudersport, Pa., boasts polished granite interi ors and space for 2,000 employees and is worth $30 million, said LFC Group of Cos.
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