Briefs: Mortgage lender to cut 12,000 jobs

LOS ANGELES -- Lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry. The company said the cuts, amounting to as much as 20 percent of its work force, are needed because it expects new mortgages to fall about 25 percent in 2008 from this year's levels.

Skilling wants new trial

HOUSTON -- Imprisoned former Enron chief executive Jeffrey Skilling asked Friday for a new trial, saying the Justice Department used incorrect legal theories and "coercive and abusive tactics" to win a conviction, including threatening witnesses. Skilling was sentenced in October to more than 24 years in prison for his role in the collapse of Enron Corp. He was convicted on 19 counts of fraud, conspiracy, insider trading and lying to auditors.

Chrysler raids competition

DETROIT -- In its first five weeks of owning Chrysler, Cerberus Capital Management LP has gone on a hiring binge. On Friday, the company turned to China, hiring SAIC Motor Corp.'s Phil Murtaugh as chief executive of its Asian operations. Murtaugh, a former GM executive, will help Chrysler expand in fast-growing global markets. Chrysler announced Thursday that Jim Press, Toyota Motor Corp.'s top North American executive, would come to Chrysler as vice chairman and president of sales, marketing and product strategy.

Harley-Davidson: profits likely to fall

MILWAUKEE -- Harley-Davidson lowered its earnings expectations for the year on Friday and said it would cut bike shipments. Worldwide sales were down 1.2 percent in the most recent quarter. The Milwaukee-based company said it anticipates 2007 net income to drop 4 percent to 6 percent to a range of $3.69 to $3.77 per share. The company reported a 2006 profit of $3.93 per share.