Archer Daniels Midlands

Mellon Bank Corp. said fourth-quarter earnings rose to $195 million, or 75 cents a diluted share, from $193 million, or 67 cents, in the year-ago period. The Pittsburgh-based bank also said Vice Chairman Martin McGuinn would succeed Frank Cahouet, who will retire at the end of the year. On April 1, McGuinn will be promoted to chairman and CEO of Mellon Bank and take over the holding company Dec. 31 . . . City National Corp.

The drillers have gnawed through a mile of rock here, almost down to a 600-million-year-old layer of sandstone where they hope to bury about 1 million metric tons of carbon dioxide -- equal to the annual emissions of 220,000 automobiles. The $84-million project, of which $66.7 million comes from the Energy Department, will help determine whether storing greenhouse gases underground, so-called sequestration, is a viable solution for global warming. The project by Archer Daniels Midland Co.

Former Archer-Daniels-Midland Co. executive Mark Whitacre, who acted as an informant in an antitrust case against the company, sued ADM, seeking back wages and punitive damages. In a lawsuit filed in U.S. District Court in Chicago, Whitacre also formally denied charges previously brought by ADM that he allegedly stole $9 million from the agribusiness company. In his lawsuit, Whitacre seeks a judgment against ADM of more than $50,000 and punitive damages of more than $50,000.

Praising the advantages of an environmental law that it has criticized, the Bush administration announced agreements Wednesday with Archer Daniels Midland Co. and Alcoa Inc. to reduce air pollution in 16 states. The settlements under the "new source review" provisions of the Clean Air Act will result in nearly $680 million in spending to reduce about 130,000 tons of air pollution a year, Environmental Protection Agency and Justice Department officials said.

The drillers have gnawed through a mile of rock here, almost down to a 600-million-year-old layer of sandstone where they hope to bury about 1 million metric tons of carbon dioxide -- equal to the annual emissions of 220,000 automobiles. The $84-million project, of which $66.7 million comes from the Energy Department, will help determine whether storing greenhouse gases underground, so-called sequestration, is a viable solution for global warming. The project by Archer Daniels Midland Co.

Praising the advantages of an environmental law that it has criticized, the Bush administration announced agreements Wednesday with Archer Daniels Midland Co. and Alcoa Inc. to reduce air pollution in 16 states. The settlements under the "new source review" provisions of the Clean Air Act will result in nearly $680 million in spending to reduce about 130,000 tons of air pollution a year, Environmental Protection Agency and Justice Department officials said.

ENTERTAINMENT Brinkley Ads Off ABC: ABC has stopped airing controversial commercials featuring former ABC anchor David Brinkley speaking for the Archer Daniels Midlands agribusiness company. The ads--which critics maintain were designed to look like editorial content--had been running in "This Week," the Sunday news show that Brinkley once anchored. ABC officials said Wednesday they accepted the ads thinking that all major networks would run them; NBC had earlier opted against the ads.

Mellon Bank Corp. said fourth-quarter earnings rose to $195 million, or 75 cents a diluted share, from $193 million, or 67 cents, in the year-ago period. The Pittsburgh-based bank also said Vice Chairman Martin McGuinn would succeed Frank Cahouet, who will retire at the end of the year. On April 1, McGuinn will be promoted to chairman and CEO of Mellon Bank and take over the holding company Dec. 31 . . . City National Corp.

Former Archer-Daniels-Midland Co. executive Mark Whitacre, who acted as an informant in an antitrust case against the company, sued ADM, seeking back wages and punitive damages. In a lawsuit filed in U.S. District Court in Chicago, Whitacre also formally denied charges previously brought by ADM that he allegedly stole $9 million from the agribusiness company. In his lawsuit, Whitacre seeks a judgment against ADM of more than $50,000 and punitive damages of more than $50,000.