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Prized comics collection going up for auction

DALLAS (AP) -- One man's remarkable comic book collection, which includes some of the most prized issues ever published, is expected to fetch more than $2 million at auction.

The 345 comics that Billy Wright collected in his youth and preserved until his 1994 death will be put to auction Wednesday in New York.

Michael Rorrer, of Oxnard, Calif., says he found his great-uncle's collection while helping clean out his great-aunt's Virginia home after her death last February.

The collection includes 44 of the Overstreet Comic Book Price Guide's top 100 issues from the golden age of comic books.

Among the notable issues are Action Comics No. 1, in which Superman debuted; Detectives Comics No. 27, in which Batman debuted; and Captain America No. 2, which features Adolf Hitler.


AT&T CEO's pay slashed

NEW YORK (AP) -- AT&T Inc.'s board cut CEO Randall Stephenson's 2011 pay by $2.08 million because he engineered the failed deal to buy T-Mobile USA, according to a regulatory filing Tuesday.

Opposition from federal antitrust regulators forced the Dallas-based phone company to give up on the $39 billion deal in December. That meant it had to hand over $4.2 billion in cash and spectrum rights to T-Mobile as a so-called "break-up fee" to compensate T-Mobile for the failure.

Looking at that $4.2 billion charge, AT&T's board cut Stephenson's cash bonus by 25 percent and cut his stock award by 6 percent, for a total of $2.08 million.


Mobile banking expanded

M&T Bank Corp. on Tuesday introduced a new mobile banking service for business customers, enabling them to bank using smartphones.

The new service will allow businesses to perform a range of banking transactions, including pay bills, view account histories and transaction details, check balances and transfer money.

The service offers mobile text banking, mobile web banking and a free application for Apple's iPhone. M&T, which introduced mobile banking for consumers two years ago, also offers applications for Android and BlackBerry phones.


IDA retains new counsel

Lawyers from Magavern Magavern Grimm will represent the Lancaster Industrial Development Agency, replacing the IDA's longtime general and bond counsels.

The agency's board has voted to retain the firm's services, with Richard A. Grimm III and Thomas E. Schofield filling the role of lead attorneys.

They are taking the place of general counsel Dominic J. Terranova and bond counsel Nathan Neill.

New IDA Chairman Dino J. Fudoli, who took over that post and the position of Lancaster town supervisor at the beginning of the year, led the push to change attorneys.

The IDA voted, 5-1, to approve the move at its Feb. 14 meeting after hearing presentations from representatives of Magavern Magavern Grimm and Phillips Lytle. Board member John Visone cast the dissenting vote.


J&J executive retiring

TRENTON, N.J. (AP) -- Johnson & Johnson's longtime CEO, Bill Weldon, 63, is retiring in April, following an embarrassing string of product recalls over more than two years that has cost the health care giant hundreds of millions of dollars and consumer trust.

The maker of Band-Aids and biotech drugs said Tuesday that Weldon will remain chairman of the board for the time being.

He will cede the chief executive post to Alex Gorsky, head of the medical device and diagnostics business.

The official transfer will be April 26, the day of the company's next annual shareholders meeting.