Business Briefs

LOS ANGELES -- Fears that stored natural gas supplies in Northern California could be depleted by the end of the month have eased as more providers have agreed to deliver gas to Pacific Gas and Electric Co.

The utility also said it will pay all its suppliers Friday for gas delivered in January.

Nevertheless, the utility is asking the California Public Utilities Commission Thursday to find that a gas supply emergency exists. A PUC order would require Southern California Gas to supply gas to PG&E's core customers if PG&E's supplies fall.

A federal order requiring suppliers to keep gas flowing to the state expired Feb. 6. The PUC has approved a PG&E plan to offer gas suppliers a security interest in revenues collected from gas customers.

McDonnell Douglas delivers last plane

LONG BEACH -- The last plane to be built under the McDonnell Douglas name was delivered Thursday during ceremonies marking the end of an era for the Southern California aviation industry.

The event at Long Beach Airport was attended by about 1,000 people, including former employees of McDonnell Douglas, which was acquired by Boeing in 1997.

The MD-11 cargo plane purchased by Lufthansa German Airlines was the last of the tri-jet aircraft built in Long Beach, ending a 30-year production run.

McDonnell Douglas once was an aviation industry giant in Southern California, providing thousands of aerospace jobs in its factories from Burbank to Long Beach to San Diego.

The delivery of the last MD-11 took place 80 years after Douglas flew his first plane on Feb. 23, 1921.

California exports surge to record high

SACRAMENTO -- California held the spot as the country's top exporter last year, shipping a record $129.7 billion in goods abroad, state officials announced Thursday.

The state shipped $19 billion in goods to Mexico, the state's leading export market, followed by Japan and Canada, according Gov. Gray Davis' office. The state's exports to Europe totaled $27 billion.

The total was an increase of 20.7 percent from 1999, when the state shipped out $107.4 billion worth of items.

The state's top exports included electronic equipment, industrial machinery and computer equipment, and precision instruments.

Nasdaq index plunges to two-year nadir

NEW YORK -- An industry report suggesting the economy is improving failed to cheer Wall Street on Thursday as the Nasdaq composite index fell to its lowest level in more than two years.

Analysts said the market was concerned the upbeat news was temporary and would deter the Federal Reserve Board from cutting interest rates again. They also noted that buyers are sitting out a market in which stronger company profits and stock prices are elusive.<