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BUSINESS PRACTICES
Tyco probe expanded to auditor
Prosecutors want to know if PricewaterhouseCoopers knew about secret bonuses paid to former execs of Tyco Int'l and accounting practices allegedly used to hide those payments. An accounting firm spokesman said, "We have no reason to believe we will be anything but a provider of information for them."
BASIC INDUSTRIES
Georgia-Pacific to sell Unisource
The paper products maker will sell 60% of its Unisource paper distribution unit for about $825 mil to Bain Capital, a private investment firm. It plans to use the proceeds to pay down debt. Georgia-Pacific will keep a 40% stake in Unisource. The deal's expected to close in Q4. Georgia-Pacific fell 3% to an 11-year low.
Raytheon warns of plant delays