The Battalion. (College Station, Tex.) 1893-current, January 16, 2003, Image 12

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    4B
THE BATTALION
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NAT10
Thursday, January 16, 2003
THE BATTALIO
Continental reports fourth
quarter, 2002 earning losse
By Juan A. Lozano
THE ASSOCIATED PRESS
Among air carriers battered
in the wake of terrorist attacks.
Continental Airlines on
Wednesday reported earnings
losses for the fourth quarter
and full year.
The Houston-based carrier
lost $109 million, or $1.67 per
share, a 27 percent improve
ment when compared with a
shortfall of $149 million for
the same period in 2001.
Analysts had expected the air
line to lose $1.97 per share,
according to Thomson First Call.
For the full year.
Continental’s loss was $451
million, or $7.02 per share,
compared with a loss of $95
million for all of 2001. The
2002 figure included a $264
million pretax charge for fleet
disposition and impairment.
“In spite of these extraordi
narily difficult times, we again
demonstrate that not all air
lines are alike,” Gordon
Bethune, Continental chairman
and chief executive, said in a
prepared statement. “Thanks
to a dedicated and focused
team of professional
employees, we continue to out
perform our competitors in
almost every measure.”
Continental and other carri
ers have been offering a wide
array of fares aimed at stimu
lating business. Some carriers
have been trying to entice cor
porate fliers with cheaper tick
ets.
The strategy has gained
momentum and could eventu
ally be critical to any turn
around for the industry, which
is expected to report $2.4 bil
lion in fourth-quarter losses,
before special items, in the
coming days.
Atlanta-based Delta Air
Lines was to report quarterly
earnings on Thursday.
Continental officials said
fourth-quarter passenger rev
enue was $1.9 billion, up 16.0
percent from the same period
last year.
Executives of Continental
said fourth-quarter revenue
rose 17 percent to $2 billion
from $1.7 billion in the year-
ago period. For the year, rev
enue was $8.4 billion, a 6 per
cent decrease from 2001 \s fig
ure of $8.9 billion.
Continental’s mechanics
and related employee groups
last year overwhelmingly rati
fied a new four-year collective
Smaller loss
for Continental
More holiday travelers helper
shrink Continental Airlines
fourth quarter loss. The
company also beat Wall Stree
expections.
Net loss, in millions
SQ
-50
-100
-150
-$149
04 2001 04 2002
Net loss per share
SO
-1 00
-200 .$2.58
-3.00
-4 00
Analysts expectec
-Si SI
04 2001
Q4 2002
SOURCE; The company
bargaining agreement betne-
the carrier and
International Brotherhood
Teamsters by a 73 percs
majority.
Airline officials said
agreement includes compe
live wages and benefits w
maintaining Continenta
labor productivity advantage
the marketplace.
Disney wins in Supreme Court
copyright protection ruling
By Gina Holland
THE ASSOCIATED PRESS
Mickey Mouse and The
Walt Disney Co. scored a big
victory Wednesday as the
Supreme Court upheld longer
copyright protections for car
toon characters, songs, books
and other creations worth hun
dreds of millions of dollars.
Companies like Disney
breathed a collective sigh of
relief with the 7-2 court ruling
giving Congress permission to
repeatedly extend copyright
protection.
The decision was a blow to
Internet publishers and others
who wanted to make old books
available online and use the
likenesses of Mickey Mouse
and other old creations without
paying royalties.
Hundreds of thousands of
books, movies and songs were
close to being released into the
public domain when Congress
extended the copyright by 20
years in 1998.
Justices said the copyright
extension, named for the late
Rep. Sonny Bono, R-Calif.,
was neither unconstitutional
overreaching by Congress, nor
a violation of free-speech
rights.
“We are not at liberty to
second-guess congressional
determinations and policy
judgments of this order, how
ever debatable or arguably
unwise they may be,” Justice
Ruth Bader Ginsburg wrote for
the majority.
In two lengthy dissents.
Justices John Paul Stevens and
Stephen Breyer said the court
was making a huge mistake.
entertainment giants
Disney and AOL Time Ware
Inc. AOL Time Warner that would
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“The serious public harm
and the virtually nonexistent
public benefit could not be
more clear,” Breyer wrote.
Breyer said the limit
“threatens to interfere with
efforts to preserve our nation's
historical and cultural her
itage” and to educate children.
Stevens said the court was
“failing to protect the public
interest in free access to the
products of inventive and artis
tic genius.”
A contrary ruling would
have caused huge losses for
said that would threaten cop;
rights for such movies
“Casablanca,” “The Wizard
Oz” and “Gone With
Wind.”
Also at risk of expirath
was protection for the wsi;
of Mickey Mouse portravA
Disney’s earliest films, slid
1928's “Steamboat Willie.'
The ruling will affect
studios and heirs of autl
and composers. It .
affect small music publishe: j aci,lon aiu
orchestras and church die disappomtin
that must pay royalties to pr ^ a<
form some pieces.
“The winners are folks"
hold valuable copyrights. Tl
losers are everyone else,"
Erik S. Jaffe, a Washings
attorney who filed argume:
in the court challens
“Everyone is going top
more for things they wot
have had for free.”
But Jack Valenti, presidi two arti
and CEO of the Motion Picti j an . 15, ba
Association of America, s- view betwe
that copyrights encourage
creation and preservation
works.
The Constitution allc
Congress to give authors
inventors the exclusive righi
their works for a “limit 01
time.
Gates' s
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