Business in brief
Ruling appealed as Pilgrim nears license extension
November 15, 2008
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THE REGION
A nuclear watchdog group has appealed a ruling by federal regulators that clears the way for a 20-year extension of the Pilgrim Nuclear Station's operating license. The appeal, filed with the Nuclear Regulatory Commission by Pilgrim Watch president Mary Lampert, argues that a three-member panel misinterpreted legal precedents when it ruled last month that the Plymouth plant's management plan adequately protects against potential radioactive leaks. The panel also rejected the Duxbury group's contention that Pilgrim needs more underground monitors to detect any leaks of radioactive liquids from buried pipes and tanks. Pilgrim Watch also appealed earlier rulings by the panel that threw out objections to the on-site storage of nuclear waste and arguments about security threats posed by terrorism or natural disaster. The plant's current license to operate expires in 2012, and the NRC has the final say on relicensing. (Robert Knox)Slowdown forces 5% cut in Gillette Stadium staff
Gillette Stadium, the home of the New England Patriots, will lay off about 5 percent of its staff due to a drop-off in special event bookings. A Patriots spokesman said the economic downturn has led to the layoffs, which will not affect the thousands of workers who tend to the crowds on gameday or the team's office staff. (AP)THE NATION
Freddie Mac seeks $13.8b after record loss in period
Freddie Mac, seized by the government two months ago, asked the Treasury for $13.8 billion after a record quarterly loss caused its net worth to fall below zero. The mortgage finance company, which had a net worth of negative $13.7 billion at the end of the third quarter, said it expects to receive the money by Nov. 29. The net loss widened to $25.3 billion after the company wrote down tax assets and providing for bad mortgages and securities, Freddie said in a statement. Rival Fannie Mae this week said it may need more money at the end of the year. (Bloomberg)Amtrak chief resigns over differences with board
Amtrak's chief executive Alex Kummant resigned after two years on the job because of unspecified differences with the board of the national passenger railroad. William Crosbie, Amtrak's chief operating officer, will serve as acting president and chief executive. Kummant's resignation is effective immediately, but he will participate in the leadership transition, Amtrak said. Amtrak spokesman Cliff Black declined to comment on the specific reasons for Kummant's departure. (AP)US prosecutor picked to be bailout watchdog
President Bush yesterday nominated Assistant US Attorney Neil M. Barofsky, 38, to become the Treasury Department's special inspector general in charge of auditing and investigating how the federal government spends bailout money. The pick requires Senate confirmation. In turning to Barofsky, the president tapped a rising star in a Justice Department office known for its high-profile prosecution of crime on Wall Street. Barofsky led the recent prosecution of top executives at Refco Inc., one of the world's largest commodities brokerages, which collapsed in an accounting scandal in 2005. (AP)© Copyright 2008 Globe Newspaper Company.


