BUSINESS DIGEST
By Unknown Author
United's Creditors Oppose Deal on Pilots' Pensions United Airlines' creditors have joined the federal government in opposing a deal in which United would close its pilots' pension plan and give the pilots equity in the airline and other sweeteners in exchange. The showdown will come in a federal bankruptcy court in Chicago Thursday, as the pilots are set to finish voting on the deal, which United reached with the union leadership last month. [Page C5.] Former Federated Chief Is Indicted James M. Zimmerman, left, the retired chairman and chief executive of Federated Department Stores, was indicted for perjury over statements he made last year to investigators from the New York State attorney general's office. The company owns Macy's and Bloomingdale's. Investigators were looking into anticompetitive behavior by the company and other businesses. [C2.] Japanese Automakers Make Gains American sales by Toyota, Honda and Nissan continued to surge in December, as the companies made further inroads against the Big Three domestic manufacturers. [C2.] Fed Minutes Show Inflation Worries Federal Reserve officials became markedly more worried about inflation last month, according to minutes from their policy meeting in December. [C2.] Rate Concerns Hurt Stock Market New concerns about inflation drove stocks sharply lower. The Dow Jones industrial average fell 98.65 points, to 10,630.78. The Standard & Poor's 500-stock index lost 14.03 points, to 1,188.05, and the Nasdaq composite index tumbled 44.29 points, to 2,107.86. [C7.] Deadline for Microsoft Claims With only a few days remaining before a deadline, only a small percentage of California residents eligible to receive part of a $1.1 billion antitrust settlement with Microsoft have claimed their share. [C4.] An Important Choice for Viacom Viacom has a lot riding on the executive who comes in to run its stagnant Paramount film studio, which could contribute more profit under a new leader. Market Place. [C7.] TV Azteca Chairman Is Charged Securities regulators charged one of the richest men in Mexico, Ricardo B. Salinas Pliego, with fraud. The Securities and Exchange Commission also wants Mr. Salinas Pliego, the chairman of TV Azteca, the Spanish-language broadcaster, to give up more than $110 million he made from trading in the company's stock and debt. [C3.] Publisher of Essence Is Sold Time Inc. agreed to buy the 51 percent of Essence Communications Partners, the publisher of the magazines Essence and Suede, that it did not already own. [C4.] Apex Responds to China Charges Apex Digital, the American electronic goods company that has been accused by one of China's biggest television makers of bringing it huge financial losses, is fighting back against the charges. [C4.] Self-Improvement vs. Selflessness The new year's resolution-related commercial pitches are colliding with news of the tsunami in Asia. Stuart Elliott: Advertising. [C4.]