The New York-based company has $287.5 million of Preferred Income Equity Redeemable Shares, or PIERS, plus accrued and unpaid dividends, due Aug. 15, it said yesterday in a regulatory filing. Six Flags fell 3 cents, or 14 percent, to 18 cents at 4:35 p.m. in trading after the New York Stock Exchange closed. The shares have lost 32 percent this year. (Bloomberg News)

Staples reports loss: Customers who shied away from buying expensive office furniture and gadgets helped drag down results at Staples Inc., which posted a 14 percent drop in fourth-quarter profit and missed Wall Street expectations. But executives at the world's largest office supplier told investors that the first quarter was so far better than the previous quarter, while cautioning they expect 2009 to remain "tough." Staples shares fell 27 cents, or 1.7 percent, to close at $15.47 yesterday. (Associated Press)

- Nation

Freddie Mac to tap federal aid: Freddie Mac, the mortgage- finance company thrust into a leading role in President Obama's homeowner rescue plans, said it will tap $30.8 billion in federal aid after its loan holdings and other assets deteriorated. The company, which was seized by regulators in September, said yesterday its fourth-quarter net loss widened to $23.9 billion, or $7.37 a share, from $2.4 billion, or $3.97 a share a year earlier. The results pushed the value of its assets below its liabilities. (Bloomberg News)

Ponzi schemes alleged: U.S. regulators sued investment firms in California and Virginia for running Ponzi schemes totaling $51 million, adding to a list of alleged frauds exposed after the Dec. 11 arrest of money manager Bernard Madoff.

Anthony Vassallo, 29, and Kenneth Kenitzer, 66, principals of Folsom, Calif.-based Equity Investment Management and Trading Inc., raised money from about 150 investors from 2004 until last year, the Securities and Exchange Commission said yesterday in a statement calling the firm a $40-million fraud. The SEC also accused Charlottesville, Va., investment manager John Donnelly, 52, of fraudulently raising $11 million from 31 investors by promising annual returns of as much as 22 percent. (Bloomberg News)

- Markets

Dollar retreats: The dollar fell against major currencies yesterday in New York, ending at 97.27 Japanese yen, down from Tuesday's close of 98.85 yen. The euro closed at 3:30 p.m. at $1.2803, up from $1.2637.

Metals rise: Gold for current delivery closed at $910.40 a troy ounce on the New York Mercantile Exchange, up from Tuesday's close of $895.60. Silver closed at $12.815 an ounce, up from $12.560.

Fuels drop: April light, sweet crude oil fell $3.38 to $42.33 a barrel on the New York Mercantile Exchange. April heating oil fell 6.56 cents to $1.1331 a gallon. April gasoline fell 4.6 cents to $1.2512 a gallon. April natural gas fell 4.2 cents to $3.798 per 1,000 cubic feet.

Associated Press

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