Business news in brief
In the Region
Hostess to unveil Drakes bid
Bankrupt Hostess Brands Inc. said it expects to unveil a bidder for Drake's snack cakes next week, although the fate of Twinkies is still being negotiated. Drake's cakes are among the brands Hostess is selling after announcing in November that it was shutting down. Earlier this month, Hostess filed bids by Tastykakes maker Flowers Foods Inc. to buy six of its bread brands, including Wonder, for $390 million. - AP
CNG trucks for water utility
Pennsylvania American Water has became the latest company to give compressed-natural-gas vehicles a whirl. The water company unveiled four Ford F-250 bi-fuel trucks that can run on CNG or gasoline and will operate out of the company's Coatesville and Punxsutawney depots. - Andrew Maykuth
$13.2M in incentives
DuPont Co., of Wilmington, awarded chairman and chief executive officer Ellen J. Kullman a package of short- and long-term incentives that could total $13.2 million in cash and stock, according to a company filing with the Securities and Exchange Commission. The company also gave Kullman a 3 percent salary increase, to $1.44 million annually, effective March 1. - Reid Kanaley
Bryn Mawr Bank dividend up
Bryn Mawr Bank Corp., of Bryn Mawr, raised its quarterly dividend by 1 cent per share, to 17 cents, a 6.3 percent increase. - Reid Kanaley
Elsewhere
Telecoms in airwave swap
Verizon Wireless said it is selling space on the airwaves to AT&T Inc. in exchange for $1.9 billion and the transfer of some airwave rights from AT&T. The sale of spectrum rights will let AT&T expand its capacity for wireless broadband in areas that include Chicago, Los Angeles, Miami, Oklahoma City and Cincinnati. In return it's getting other frequencies in Los Angeles, Fresno, Calif., Phoenix and Portland, Ore. - AP
Sorry for short 'Footlong'
Subway is apologizing that its "Footlong" sandwiches fell short of expectations. The world's largest fast-food chain faced widespread criticism last week after a man posted a photo online showing a "Footlong" next to a tape measure that showed it to be just 11 inches. Subway said that it's redoubling efforts to "ensure consistency and correct length" in all its sandwiches. The company had already said bread length could vary when franchisees don't bake to its exact specifications. - AP