Homebuilders such as Centex Corp. and Pulte Homes Inc. aim to survive an industrywide unraveling by selling houses at bargain prices, slashing jobs and scrapping growth plans. But as the housing downturn worsens, experts say at least a few major U.S. homebuilders may end up bankrupt. Builders constructed more than 2 million housing units nationwide in 2005, the year the boom peaked. So far this year, housing starts have fallen to an annual rate of 1.2 million units through September, and economists expect the number to drop to an annual rate of 1 million by mid-2008. .

Post deal puts Ralcorp on the top shelf

The website of Ralcorp Holdings Inc. boasts in big letters: "A Leading Store Brand Company." As of this week, that might have to be tweaked.

Content for years to sell private label foods ranging from mayonnaise to peanut butter and cereals, the St. Louis-based company now plans to merge with the Post cereal business, which holds a brand name that has been on breakfast tables for more than 100 years.

Ralcorp will merge with the Post cereal business after the unit is spun off from Kraft Foods Inc. of Northfield, Ill. The all-stock, tax-free deal announced Thursday will give Ralcorp control of the country's No. 3 cereal line and $3.3 billion in annual sales, a 50 percent boost to its current revenue.

It will also launch Ralcorp back into the world of branded foods, ten years after it sold its Chex cereal business to General Mills.

IIJ Announces Second Quarter Results for the Fiscal Year Ending March 31, 2008

Internet Initiative Japan Inc. (Nasdaq:IIJI) (Tokyo Stock Exchange First Section: 3774) ("IIJ"), one of Japan's leading Internet-access and comprehensive network solutions providers, today announced its financial results for the second quarter of the fiscal year ending March 31, 2008 ("FY2007")(1). Highlights of Second Quarter FY2007 Results

-- Revenue totaled JPY 16,294 million ($ 141.7 million), an increase of 16.3% from 2Q06.

-- Operating income was JPY 1,125 million ($9.8 million), an increase of 38.6% from 2Q06.

-- Net income was JPY 2,907 million ($25.3 million), an increase of 37.1% from 2Q06.

-- Today, IIJ's board of directors resolved to pay a cash dividend of JPY 750 per share of common stock for the interim period ended September 30, 2007 (400 American Depository Shares represent 1 share of common stock).

Boston Scientific starts planned layoffs of workers

Boston Scientific Corp., which recently said it will eliminate 2,300 jobs worldwide, has begun letting workers go. But both the Natick medical device maker and the state have declined to say how many of the cuts are being made in Massachusetts. The state Executive Office of Labor and Workforce Development rejected a written request from the Globe to release records related to the cuts, saying it promised to keep the data confidential. Spokeswoman Linnea Walsh declined to say why the state made the promise. Walsh said the agency is working with the company's outplacement firm to help workers who lose their jobs, but declined to name the firm. (Todd Wallack)

.