Treasury unveils improved signature

Treasury unveils improved signature

WASHINGTON

Treasury Secretary Jacob Lew won’t win any prizes in penmanship, but his official signature, which will go on the nation’s currency, is at least a slight improvement over the loopy scrawl he had a few months ago.

The Treasury Department unveiled the new signature Tuesday. It takes the Bureau of Engraving and Printing about 18 weeks to put new engraving plates into production. That means Lew’s signature will not show up on the various currency denominations until sometime this fall.

Lew’s signature had been so bad that President Barack Obama joked that, unless it improved, it would “debase our currency.”

The new signature still is hard to read but it does represent an improvement from previous signatures that were essentially a series of loops. Lew became Treasury secretary, succeeding Timothy Geithner on Feb. 28.

United adds new ‘elite’ requirement

CHICAGO

United Airlines is making it a little harder to get a higher frequent-flier status.

That status used to require flying 25,000 miles per year. Now, United is adding a requirement for at least $2,500 in spending, too, to qualify for status in its MileagePlus program.

Most frequent fliers would spend that much anyway if they are earning 25,000 miles. But those who buy discounted tickets might be affected.

Travelers like to get so-called “elite” status because of seat upgrades and other perks.

The change takes effect next year for travelers trying to earn status in 2015. Taxes and bag fees won’t count toward the spending total.

United Continental Holdings Inc. announced the change Tuesday. It matches a change made by Delta Air Lines Inc. in January.

Sprint sues to stop Clearwire buyout

OVERLAND PARK, Kan.

Sprint is suing to stop Dish Network’s buyout of wireless data-network operator Clearwire. The nation’s third-largest cellphone carrier said the proposed deal violates the rights of Sprint and other Clearwire shareholders.

Dish has offered to pay $4.40 per share for Clearwire, which has recommended that its shareholders approve the offer. That reverses its earlier stance in support of a takeover bid by Sprint, its majority shareholder.

Sprint, based in Overland Park, Kan., has bid $3.40 per share for the minority stake in Clearwire it doesn’t already own.

Dish Network Corp., based in Englewood, Colo., a satellite broadcaster, has said its offer is contingent on being able to buy 25 percent of the company.

But Sprint Nextel Corp. said late Monday that Dish cannot complete its offer without the approval of holders of at least 75 percent of Clearwire’s shares.

Associated Press