Branson eyes US Airways

0 Comments | Oakland Tribune, Mar 24, 2004

Richard Branson's Virgin USA low-cost carrier plans to purchase as many as 55 planes and may partner with US Airways Inc. as it seeks to take advantage of demand for low costs flights in the U.S. "We shouldn't have any problems in now getting the airline launched" by early next year at the latest, Branson said. The Virgin Group will invest between $50 million and $250 million in the carrier and will own 49 percent. "US Airways may sell off part of their assets, and they may sell it off in part cash and shares in a new company," Branson told journalists. "If they were to do that, they might decide to do something with Virgin USA." Virgin USA is choosing between San Francisco, Los Angeles, Boston and Washington for its headquarters, Branson told journalists at a briefing in London, adding Virgin USA will be 100 percent American employees.

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Brightmail goes public

Software company Brightmail Inc. has registered for an initial public offering of up to $80 million in common stock, according to a filing with the Securities and Exchange Commission. The company, which is based in San Francisco, makes electronic messaging security software, including anti-spam software that blocks unsolicited bulk e- mail. Brightmail said it intends to use the net proceeds from the IPO for general corporate purposes, including working capital and capital expenditures and potential investments and acquisitions.

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Sony Computer Entertainment America of Foster City announced a new internal hard disk drive for PlayStation 2 console, which is considered the next step in the evolution of online gaming. It comes pre-installed with the popular Final Fantasy, a new online-only title. 4 CSG Consultants of San Mateo is celebrating its expansion and opening of the commpany's new headquarters at 1700 South Amphlett Blvd. 4 Palo Alto-based Greater Bay Bancorp, a $7.6 billion in assets financial services holding company, announced that it has declared a $0.1425 per share cash dividend for the first quarter of 2004. This dividend represents approximately a 6 percent increase over the company's previous quarterly dividend of $0.135 per share. The cash dividend will be payable on April 15, 2004, to shareholders of record as of April 5, 2004.