Business & Finance
The value of shares in pro soccer powerhouse Manchester United jumped 6 percent in trading on the London Stock Exchange Monday even as fans were reacting with anger to word that a billionaire American family has resumed its efforts to buy control of the team. The sons of Malcolm Glazer, a Palm Beach, Fla., tycoon and owner of the Tampa Bay Buccaneers of the National Football League, upped their hostile takeover bid to a reported $1.5 billion after a previous attempt in October was unsuccessful. Glazer already owns 28.1 percent of Manchester United, and when last year's bid failed he responded by forcing the ouster of three members of the board of directors. Critics say the Glazers displayed especially poor timing by making their new attempt on the anniversary of the worst tragedy in team history - a 1958 plane crash that killed eight players, three front-office personnel, and eight reporters - which helped to elevate it to its status as perhaps the world's No. 1 sports franchise.
General Motors will end production of the Pontiac Bonneville this summer after almost a half-century on the market, the Detroit News reported Sunday. Declining sales and a shift to a revamped lineup of models were cited as reasons for the decision. The Bonneville was introduced as a convertible in 1957 but soon evolved into a family sedan. Sales peaked at 135,401 units in 1966. Last year, however, they fell below 30,000. No layoffs are expected as a result of GM's decision since the assembly plant in Hamtramck, Mich., where the Bonneville is built also makes the new Buick Lucerne and the Cadillac DTS.