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The WALL STREET JOURNAL INTERACTIVE's Jennifer Rewick writes that VA-based PSINet Inc., the "once highflying and fast-growing" ISP, posted a "much wider loss" for its third quarter and "warned" that fourth quarter results "will be lower than expected." PSINet Chair & CEO William Schrader said that the company "would sell some of its assets and reduce planned capital expenditures through next year" (WSJ.com, 11/3)....In Miami, Greg Cote writes that NetZero and Verizon Wireless are among finalists to acquire naming rights to Pro Player Stadium (MIAMI HERALD, 11/3).
A new anti-arena TV ad that is "general enough to be accurate, unlike previous" anti-arena TV ads, debuted in Houston yesterday, according to Eric Berger, of the HOUSTON CHRONICLE. Paid for by the PAC Texans for Tax Limits, the ad states that public money should not be used for a private arena. The ad is narrated by Texans for Tax Limits Chair Austen Furse, who says, "Why did we vote no on the arena last time? We voted no because public money should not be used to build a private arena." Furse, a former adviser to President Bush and a financial analyst, said that he and his family "paid most of the tab" for the commercial, without saying how much ad time was purchased. Meanwhile, political analysts said that "anti-arena ads would have been more effective a month or more ago, before the pro-arena campaign began running a barrage of commercials focusing on a central message of no new taxes" (HOUSTON CHRONICLE, 11/3).
With two weeks to complete a stadium deal for the Eagles and Phillies, Philadelphia Mayor John Street has resumed his "urgent quest," and it appears that he has "abandoned hopes" of a Phillies ballpark at the 12th and Vine Street location near downtown and is "eyeing" a site in South Philadelphia, according to Dave Davies of the PHILADELPHIA DAILY NEWS. City Council President Anna Verna said that stadium bills will have to be ready by November 16 at "the latest" if Street wants them to be passed this year. While "intense technical work" is under way, talks between the city and the Eagles and Phillies "haven't resumed." But sources told Davies that "the focus is on South Philadelphia" (PHILADELPHIA DAILY NEWS, 11/3).