COMPILED FROM WIRE REPORTSTuesday, October 30, 2007

OIL REFINING

Tesoro to weigh Kerkorian's offer

SAN ANTONIO — Tesoro Corp. said Monday that its board will review an unsolicited $1.4 billion offer by billionaire investor Kirk Kerkorian to buy another 16 percent stake in the oil refiner.

The Tesoro board will study the offer in the next 10 days, said the company, which operates seven refineries in the western United States and more than 900 retail stations.

Kerkorian's Tracinda Corp., which already owns 4 percent of the company, offered Friday to buy an additional 21.9 million shares for $64 a piece.

AIR TRAVEL

American Airlines to test meal, snack sales

FORT WORTH — American Airlines said it will test new light meals, snacks and beverages for sale in coach cabins in the next two months.

The airline said it would test three $5 sandwiches, four snack and beverage items for $3 each, and $10 fresh items including a fruit and cheese plate and antipasto platter.

Each item will be tested for about a week on selected routes.

Airlines once routinely provided free food in coach cabins, but many eliminated the service on domestic routes to save money.

American has been selling food in coach since early 2005.

FASHION ACCESSORIES

Tandy expands board to avert proxy battle

DALLAS — Fashion accessories maker Tandy Brands Accessories Inc. avoided a proxy fight by agreeing to add a dissident shareholder to its board.

Golconda Capital Portfolio LP had nominated two challengers to replace incumbents on the seven-member board. But Tandy Brands said it agreed to increase the board to eight members by adding Golconda executive William D. Summitt, whose term will expire in 2010. In exchange, Golconda withdrew its nomination of Summitt and Jedd M. Fowers, a consultant to Electronic Data Systems Corp.

ELECTRONICS

RadioShack profits from cost-cutting

FORT WORTH — RadioShack Corp. reported a third-quarter profit, overcoming lower revenue by cutting costs and selling more high-margin items.

The company also said it expects that its fourth-quarter results will be better than a year ago.

The electronics retailer said it earned $46.3 million, or 34 cents per share in the quarter that ended Sept. 30, compared with a loss of $16.3 million, or 12 cents per share, a year earlier.

Analysts expected RadioShack to earn 26 cents per share, according to a survey by Thomson Financial.

Revenue dropped 9.4 percent, to $960.3 million from $1.06 billion a year ago. Sales fell for Sprint wireless phone service and accessories, although the company said it had strong results in prepaid wireless phones and global positioning systems.