Briefcase

Apple Computer thinks big by going smaller

Apple Computer Inc. chief executive Steve Jobs on Tuesday introduced a cut-rate computer the size of a paperback and a tiny iPod that starts at $99 but holds far fewer songs than Apple’s hard drive-based music players.

The new products seek to make inroads against the traditionally more affordable PC market and against lower-cost competitors to Apple’s wildly popular iPod.

The Mac mini computers go on sale Jan. 22 and represent Apple’s first foray into the budget desktop PC arena, which has been largely confined to personal computers that rely on Microsoft Corp.’s Windows operating system.

Smaller than even some standalone external computer drives, the mini Macs lack a monitor, mouse and keyboard.

Retail

CD Tradepost adds Lawrence location

CD Tradepost is opening another store in Lawrence.

The new store — selling used CDs, DVDs, games and gaming consoles — is scheduled to open Feb. 4 at 2540 Iowa, in the space formerly occupied by Gameco.

The store will be the 19th for CD Tradepost, a Topeka-based chain whose other Lawrence store is at 4000 W. Sixth St.

The chain has stores in Kansas, Missouri, Nebraska, Iowa and Florida.

Labor

Unions to merge

The United Steelworkers of America and PACE, the Paper, Allied Industrial, Chemical and Energy Workers International Union, announced a merger Tuesday that will create the nation’s largest industrial labor union and encompass more than 750,000 workers.

The combined force will have more political clout and broader coverage of workers in the industrial sector, union officials said. The new organization also will also focus on boosting membership levels.

The union’s new name: the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union.

Scandal

Nortel Networks revamps financials

In a long-delayed report to clean up a multiyear accounting scandal, Canadian telecom equipment maker Nortel Networks Corp. slashed its audited profit for 2003 by 40 percent while reporting that a dozen senior executives would repay $8.6 million in bonuses and five board members would resign.

Profits for 2003 totaled $434 million, rather than the $732 million reported a year ago, the company said. Earnings for the year ended Dec. 31, 2003, amounted to 10 cents a share instead of 17 cents. But revenue was revised higher to about $10.2 billion, versus $9.81 billion reported about a year ago.