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NATIONAL BRIEFING
Blockbuster to Offer Web Rentals
Federal Railroad Administrator Joseph Boardman, left, was named Amtrak's interim chief executive.
(By Mark Duncan -- Associated Press)
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Blockbuster will start renting movies and television shows through a new gadget that may give consumers another reason to bypass the struggling video chain's 7,500 stores. The system relies on a small box that connects to television sets and stores video after it's downloaded over high-speed Internet connections.
The player, made by 2Wire, is based on the same concept as storage devices made by Apple and Vudu. The devices are all meant to provide a bridge between the Internet and TVs.
Netflix, a Blockbuster nemesis, has been trying to make the same leap with a video-streaming service that can be watched on TV sets through a variety of devices, including a $100 box introduced by Roku six months ago.
EXECUTIVES
Amtrak Names Temporary CEO
Amtrak says it has selected Joseph Boardman, administrator of the Federal Railroad Administration, to be chief executive for one year. Boardman replaces Alex Kummant, who resigned Nov. 14 after two years marked by significant growth in ridership and revenue.
Boardman has served as administrator of the FRA since 2005. A search will begin in the coming months for a permanent leader.
MERGERS & ACQUISITIONS
Ethanol Firms Talking Buyout
VeraSun Energy, the nation's No. 2 ethanol producer, announced that it has received an unsolicited takeover bid one month after seeking bankruptcy protection. The announcement also came just hours after the nation's biggest producer, Poet, said it was talking with companies about buyouts.
Neither Poet nor VeraSun would say whether the two are negotiating a deal together. Poet and VeraSun control about a third of the nation's ethanol capacity.
EARNINGS
D.R. Horton, the largest U.S. home builder, reported its sixth straight loss and cut its dividend. The company's fiscal fourth-quarter loss widened to $799.9 million from $50.1 million a year earlier. Revenue for the period ended Sept. 30 was $1.54 billion, down from $2.97 billion. For the full fiscal year, D.R. Horton lost $2.63 billion, compared with a loss of $712.5 million a year ago. Full-year revenue fell 43 percent, to $6.16 billion.
Borders Group said its third-quarter loss widened to $175.4 million from $161.1 million in the comparable period last year as consumers limited their spending. Revenue dropped 9 percent, to $693.4 million. Borders, which has been restructuring for more than year, said it was no longer considering selling its core business.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
