Restoration sued over buyout offer

NEW YORK -- Restoration Hardware Inc., the Corte Madera, Calif.-based home-furnishings chain, was sued by shareholder Randall Reimer, who contends a proposed $4.50-a-share takeover bid from buyout firm Catterton Partners undervalues the stock. Hoffman Estates-based Sears Holdings Corp. had made a $4.55-a- share bid last month, according to the filing, which asks a judge to stop the Catterton buyout. The chain said in a statement Feb. 29 the Sears proposal "was subject to significant uncertainties."

UAL must pay $27 million

CHICAGO -- Chicago-based UAL Corp., parent of United Airlines, must pay $27.2 million to bondholders who helped finance the renovation of its San Francisco International Airport facilities, a federal judge ruled. United lost its bid in a 2006 bankruptcy court ruling to reduce the amount by $7.5 million. U.S. District Judge John Darrah in Chicago, in a Tuesday decision posted Thursday, upheld the lower court's opinion.

More help offered for homeowners

CHICAGO -- The Illinois Homeowner Assistance Initiative expanded Thursday with the addition of four more lenders, bringing the total of refinancing funds to $310 million.

4th quarter GDP nearly stalled

WASHINGTON -- The Commerce Department reported Thursday the gross domestic product increased at a 0.6 percent annual rate in the October-to-December quarter. The reading provided stark evidence of how much the economy has weakened. In the prior quarter, the economy clocked in at a 4.9 percent growth rate.

Bear chairman sells stake

NEW YORK -- Bear Stearns Cos. Chairman James Cayne Thursday dumped his entire stake in the embattled investment bank for $61 million as it appears closer to a takeover by JPMorgan Chase & Co., according to a filing with the Securities and Exchange Commission. His stake was once valued at about $1 billion.