IN BRIEF

WASHINGTON

Union boss deems deadline unattainable

United Auto Workers President Ron Gettelfinger suggested Monday that a mid-February deadline for General Motors and Chrysler to complete their restructuring plans may be "almost unattainable" and no formal talks had commenced between the union and carmakers.

Gettelfinger told reporters the current Feb. 17 deadline for General Motors Corp. And Chrysler LLC could be moved back "because, honestly, most people that would look at this from a realistic standpoint would say this time line is almost unattainable."

"I said myself that I hope this wasn't set up to intentionally fail because the people who were a part of this have no idea of the magnitude of what they were asking these companies to do," Gettelfinger said at a pre-Inaugural reception.

AUBURN HILLS, Mich.

Fiat discusses taking stake in Chrysler LLC

Fiat SpA is holding discussions with Chrysler LLC about taking a stake in the U.S. carmaker and creating a partnership that would allow the Italian automaker to build and sell its small cars in the United States, two publications reported Monday.

Unnamed officials familiar with the discussions told The Wall Street Journal and Automotive News that Chrysler would have access to the Turin, Italy-based automaker's engine and transmission technology as part of a potential deal.

Chrysler spokeswoman Lori McTavish said in a statement Monday that her company "does not confirm or disclose the nature of its private business meetings."

A Fiat official did not comment on the reports.

Oil prices head down ahead of profit reports

Oil prices fell to below $35 a barrel Monday as investors eyed a slew of U.S. corporate earnings this week for signs of weakening consumer demand amid the worst recession in decades.

Light, sweet crude for February delivery was down $1.88 to $34.63 a barrel by mid-afternoon in Europe in electronic trading on the New York Mercantile Exchange.

The contract, which expires today, rose $1.11 on Friday to settle at $36.51. The March contract was trading at $40.90 a barrel, down $1.67.

Delta wary about size of Atlanta operations

Atlanta-based Delta Air Lines warned on Monday that rising costs at the airport raise questions about the size of the carrier's future operations at Hartsfield-Jackson International Airport.

The warning comes as Delta prepares for talks with airport officials on new airline leases.

Hartsfield-Jackson's existing 30-year airline agreements expire next year, and formal talks are expected to begin in the next couple of months.

Airport spokesman John Kennedy says construction may likely be halted anyway in the next few weeks due to tight credit markets.

The $1.6 billion project is three years behind schedule. The latest projection is for a 2012 opening.

United Rentals says '08 revenue misses forecast

United Rentals Inc. said 2008 revenue fell short of its forecast and that it will record a noncash $1.1 billion goodwill impairment cost based on the lower value of acquisitions.

Full-year revenue will be $3.27 billion, less than the previous range of $3.3 billion to $3.4 billion, Greenwich, Conn.-based United Rentals said in a statement. Full-year earnings per share may be below its recent forecast, it said. The company on Oct. 28 estimated earnings per share of $2.55 to $2.65.

Analysts polled by Bloomberg had forecast 2008 earnings per share at $2.58 and revenue of $3.28 billion. United Rentals didn't provide a new forecast for earnings per share.

FRANKFURT, Germany

BASF says profits will suffer in tough market

Chemical company BASF SE said 2008 and 2009 earnings would be hurt by difficult market conditions, which have deteriorated more than the company anticipated amid the global economic downturn.

BASF did not put estimates on its new outlook, but in November abandoned its goal to match the previous year's earnings, when it achieved pretax profit of 7.6 billion euros ($10.02 billion) on sales of 57.9 billion euros ($76.32 billion).

BASF said at the time it would temporarily shutter 80 plants around the world and curb or stop production at others.

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U.S. financial markets were closed Monday for Martin Luther King Jr. Day.