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ICF Kaiser International said the New York Stock Exchange informed the company that it has fallen below the stock exchange's continued-listing standards. The firm said it is taking steps to maintain its listing, including an agreement in principle to restructure its long-term debt and a plan for a reverse stock split to increase the value of individual shares.
Dell Computer chief executive Michael Dell sold 4 million shares of the company's common stock in August, according to an SEC filing. Dell sold the shares at prices ranging from about $46.47 to $47.25 a share. At a midpoint price of $46.91 a share, the shares were worth $187.6 million.
General Motors and Ford have recalled a total of more than 353,000 vehicles with safety defects, the National Highway Traffic Safety Administration said. No accidents or injuries have been reported as a result of the defects with the GM, Ford and Saturn vehicles, spokesmen said. Owners of all the vehicles were asked to take them to dealerships for free repairs, NHTSA said. The recalls were posted by NHTSA on its Internet site on Thursday.
Cheese blintzes made by a small New York company and sold in 10 states may be contaminated with salmonella, the Food and Drug Administration and New York officials said. Ratner's Retail Foods is voluntarily recalling frozen cheese blintzes sold nationwide after two New Yorkers became ill.
Washington Homes's earnings for fiscal year ended July 31 rose 179 percent, to $10.6 million. The Landover home builder's fourth-quarter earnings shot up 88 percent, to $4.5 million. Management attributed the increase to a strong area housing market and the company's growth strategy.