NATIONAL

Home Depot set to sell share of business for $8.5 billion

The Home Depot Inc. has tentatively agreed to sell its wholesale distribution business to a group of private-equity firms for $8.5 billion, or $1.8 billion less than originally planned, a person with direct knowledge of the situation said.

The lower price reflects the tighter conditions that have arisen in the credit markets, and it would be one of the highest profile revisions yet among big deals involving private-equity buyers.

The retailer, which operates 2,200 stores in four countries and reported more than $90.8 billion in sales last year, wants to shed its supply business and refocus on retail sales. It also plans to buy back up to $22.5 billion in company shares.

STARTEK CFO Ciber Inc. Chief Financial Officer Dave Durham will join StarTek Inc., the Denver-based computer services company, as CFO next month.

Durham will get 10,000 shares of restricted StarTek stock, options to buy 165,000 shares starting in a year, and an annual salary of $320,000, StarTek said in a regulatory filing. He will start at StarTek on Sept. 10.

MILITARY CONTRACT Lockheed Martin Corp. and Boeing Co. are rival bidders for the first phase of a military contract worth up to $2 billion to build a next-generation global satellite system.

Lockheed Martin Space Systems in Jefferson County submitted to the Air Force the company's plan to design and build the Global Positioning System Space Segment program, known as GPS Block III. Lockheed has not disclosed where it would do the work if it wins the contract.

PHONE MESSAGES Yahoo Inc., the most popular provider of Web-based e-mail in the U.S., added a feature that lets users send free messages directly to mobile phones. The service debuted Monday.

DELTA CEO'S PAY Delta Air Lines Inc.'s incoming chief executive, Richard Anderson, will be paid an annual salary of $600,000 and could earn another $15 million in performance-based incentives, according to documents filed Monday by the airline.

Anderson, 52, was named Gerald Grinstein's replacement as CEO last week and will start the job Saturday.

TREASURY BILLS Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels in two weeks.

The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 4.600 percent, up from 2.850 percent last week. Another $19 billion in six-month bills was auctioned at a discount rate of 4.590 percent, up from 3.950 percent last week.

The three-month rate was the highest since these bills averaged 4.630 percent on Aug. 13. The six-month rate was the highest since 4.710 percent, also two weeks ago on Aug. 13.

U.S. STEEL PURCHASE United States Steel Corp. is buying the Canadian steel maker Stelco Inc. for about $1.1 billion in a move expected to bolster its position as a supplier to the North American automotive industry.

After the acquisition, U.S. Steel will become the world's fifth-largest steel maker.

APPLE SUED Apple Inc. was sued by a customer who says he incurred hidden roaming fees on his iPhone while traveling internationally because of Apple's exclusive contract with AT&T Inc.

Herbert Kliegerman, who seeks to represent other iPhone purchasers in a class action, was charged $2,000 in international roaming fees after using his $599 iPhone for seven days in Mexico, he said in a complaint filed Monday in state court in New York. Apple did not return calls seeking comment.

LOCAL

Whole Foods accepts all shares tendered in purchase of Wild Oats

Whole Foods Market Inc. on Monday said it has accepted all the shares tendered as part of its $671 million purchase of Boulder-based Wild Oats Markets.

Whole Foods, which offered $18.50 a share, received tender offers for shares making up 97 percent of Wild Oats common stock.

BOSTON MARKET Sun Capital Partners Inc. completed its acquisition of McDonald's Corp.'s Golden-based Boston Market and named Richard Arras as chief executive officer of the chain of rotisserie-chicken restaurants.

Arras, previously head of Wi-Tenn Restaurants LLC, the operator of O'Charley's Restaurants, succeeds Michael Andres, who plans to return to McDonald's.

McDonald's, the world's largest restaurant company, agreed earlier this month to sell its more than 600 Boston Market locations, ending a 10-year attempt to expand beyond its hamburger chain. The financial terms were not disclosed.

FEDERAL GRANT The University of Colorado at Colorado Springs has received a $100,000 grant from the U.S. Department of Commerce's Economic Development Administration to fund a business plan for a potential research park.

The city of Colorado Springs and the university had already put up $50,000 each as a local match. The university estimates the plan cost at $200,000.

SENTENCED Judith Lee Clarke, a former stockbroker for Rocky Mountain Securities and Investments, was sentenced to 54 months in federal prison, ordered to pay restitution totaling $6.92 million to the Securities Investor Protection Corp. and to the estate of Rocky Mountain Securities & Investments, which is now closed. She was convicted of stealing $4.5 million in shareholder money.

BEST EVER Discovery Holding Co., majority owner of the Discovery Channel, posted a record gain after Deutsche Bank AG raised its rating to "buy" from "hold." Discovery Holding Class A shares gained $1.71, or 7.5 percent, to $24.55, the most since the stock began trading in July 2005. Analyst Douglas Mitchelson set a price target of $27 for the Douglas County-based company.

THIS JUST IN...

• The Colorado Renewable Energy Collaboratory selected David Hiller, a former staff member and adviser to Sen. Ken Salazar, as executive director.

• The federal Department of Transportation building in Lakewood received the Energy Star Award for achieving energy-operating efficiencies.

• McClain Finlon, a Denver-based advertising agency, hired Monique Elwell as group account planner.

• Mary Ann Lee joined the Kentwood Co. at Cherry Creek as a broker associate.

• Wealth Manager magazine named Douglas County-based M.J. Smith and Associates to its annual list of top advisory firms serving high-net- worth clients.

• Kaiser Permanente Colorado promoted Linda Smith to senior director, population and prevention services.

• Adam T. DeVoe, an associate with Brownstein Hyatt Farber Schreck, was appointed to the charities board of directors of the Metro Denver Sports Commission.

• The University of Colorado appointed professors Brian Argrow and Christopher Bowman to deans in the College of Engineering and Applied Science.

• Dale Katechis, founder of Oskar Blues Brewery, received the Colorado Restaurant Association's Cornerstone Humanitarian Award for providing exceptional assistance within his community.

• Nolte Associates Inc. named Ralph LoCascio as director of its public works group in Colorado Springs.

• The Mental Health Association of Colorado has changed its name to Mental Health America of Colorado and adopted a new logo.

• Melody Rivera, a broker associate with Kentwood City Properties, was installed as president of the Denver Board of Realtors during its installation of officers ceremony.

• Slifer Smith & Frampton, a Summit County-based real estate firm, added T.A. Williams, Robin Hall and J.T. Tollett as brokers.

• The College of Business at Colorado State University named Vickie Bajtelsmit as chairwoman of the Department of Finance and Real Estate and Jon Clark as chairman of the Department of Computer Information Systems.

• IP5280 Communications, a Colorado-based VoIP company, promoted Brian Belanger to regional sales manager for the northern Colorado division and Kimberley O'Hare to regional sales manager for the southern Colorado division, based in Colorado Springs.

• Colorado School of Mines named Bruce Geller as director of the Colorado School of Mines Geology Museum.

• The Envision Group has moved its offices from south Denver to 1425 Market St.

Rocky staff and wire reports

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