Sales at Ford fell 18.2 percent in September, closing out its 2007 model year on a disappointing note, and analysts say the carmaker's immediate future does not look much brighter. Its biggest new product, the Edge, is already on sale, and its most critical redesign, the F-series pickup, is still a year away from arriving at dealerships.

The Edge, a crossover vehicle that executives said would lead Ford through its turnaround, has surpassed expectations, but almost everything else seems to be coming up short. The chief sales analyst at Ford, George Pipas, said September sales fell short of targets in the company's overhaul plan, known as "the way forward."

"We're not where we want to be," Pipas said Tuesday. But he insisted that the shortfall "doesn't throw us off track for the full year."

Ford's sales have been down every month this year, largely because of planned cutbacks in deliveries to rental car companies. But sales at dealerships have fallen off, too, raising questions about whether the carmaker needs to speed up its turnaround.

"Their market share levels are disappointing," said Bruce Clark, an analyst with Moody's Investors Service in New York. "2008 is going to be challenging from an operating standpoint, and their cash burn will not be inconsequential."

September sales of the Ford Taurus sedan, which Ford introduced this summer with high expectations, were 30 percent lower than those of its predecessor, the Five Hundred. And sales of Ford's sport-utility vehicles have fallen so sharply that the Edge outsold them all last month.

Yet the Edge is not winning many new customers for Ford, because nine out of 10 vehicles most commonly traded in for it are other Ford models, said Tom Libby, senior director of industry analysis at the Power Information Network of J.D. Power and Associates.

Ford is preparing to resume contract talks this week with the UAW, which reached a tentative deal with GM last week after a two-day nationwide strike. The deal, which workers are voting on through Oct. 10, is expected to make GM significantly more competitive with foreign manufacturers like Toyota and Honda.

But as details of the GM deal continue to emerge, analysts are increasingly concerned that a similar deal may not go far enough to help Ford and, to a lesser extent, Chrysler.

GM is in a much healthier position than Ford, Libby said, as September sales illustrated. GM's sales rose 4.5 percent, and its market share jumped to 25.3 percent, from 24.4 percent a year ago, according to the Autodata Corp., an industry statistics firm. Ford's market share fell to 13.3 percent, from 16.5 percent.

The announcements are the latest from a lengthening queue of banks who have taken hits from a meltdown in U.S. subprime mortgages, which has set off a global liquidity crisis.

UBS said it would write down a net 4 billion Swiss francs ($3.4 billion) in its fixed-income portfolio and elsewhere, resulting in a third-quarter loss of 600 million to 800 million francs, its first quarterly loss in nine years.

UBS also said it would shed 1,500 jobs in its investment bank -- a sharp reversal of its recent buildup.

Citigroup, the world's largest bank by market value, said it was expecting a fall of about 60 percent in third-quarter net income.

Among the main culprits for the profit warning were $1.4 billion in pretax writedowns on funded and unfunded leveraged loan commitments.  

Qualcomm had been looking to fill the general counsel post, the top in-house company lawyer, after previous top lawyer Lou Lupin quit last month. The San Diego-based company, ensnarled in patent litigation with Nokia Oyj and competitor Broadcom Corp., suffered several litigation setbacks earlier this year.

In June, the International Trade Commission ordered an import ban on newer models of phones that run on Qualcomm chips because the chips infringe a Broadcom patent. The ruling, which threatened to prevent phone companies from introducing new models for the holiday season, was put on hold earlier this month by an appeals court.

In August, a federal judge ruled Qualcomm intentionally infringed Irvine, California-based Broadcom's patents and ordered Qualcomm to pay twice as much in damages as originally ordered.

Evidence

Another court ruled Qualcomm withheld evidence in a separate lawsuit and that former company attorneys could face possible fines or sanctions for what that judge called an "organized program of litigation misconduct."

Earlier this month, a federal appeals court revived a Broadcom antitrust lawsuit accusing Qualcomm of stifling competition for chips.

Qualcomm is also embroiled in nearly a dozen legal battles with Finland-based Nokia, the world's biggest maker of mobile phones, over how much Nokia must pay to license Qualcomm's patents for the newest generation of phones with faster Internet access.

Earlier this month, the ITC said it would investigate patent-infringement claims by Nokia against Qualcomm.

After Lupin resigned in August for what Qualcomm called "personal" reasons, Carol Lam, previously the San Diego U.S. attorney, replaced him on an interim basis.

Apple

Rosenberg, 56, joins Qualcomm after working at Cupertino, California-based Apple for less than a year. He joined Apple last November after former General Counsel Nancy Heinen left in May 2006. She was sued by the Securities and Exchange Commission for her alleged role in improperly backdating stock-option grants.

Rosenberg, who will join Qualcomm Oct. 8, was previously general counsel at International Business Machines Corp.

Rosenberg will be replaced by Oracle's Cooperman, who will also hold the titles of senior vice president and secretary. Cooperman joined Apple Nov. 1 from Oracle.

"He has experience as a legal strategist in so many areas, including antitrust, regulatory and IP," said Qualcomm spokeswoman Emily Kilpatrick.

Apple spokeswoman Susan Lundgren declined to comment. Oracle's Bob Wynne didn't return a call seeking comment.

Texas Instruments Inc. is the biggest mobile-phone chipmaker.

Qualcomm shares rose 3 cents to $42.26 in Nasdaq Stock Market composite trading.

Disney announced in September 2006 that it was closing Mobile ESPN, eight months after its debut. The company initially remained optimistic about its Disney-branded service, which sold phones featuring Disney content and services aimed at children and their parents. However, Disney failed to make headway with the big-box retailers and find outlets to sell its phones and related services.

Disney will instead license its content to bigger carriers to sell. Earlier this year, it forged a partnership with Verizon Wireless, which is owned by Verizon Communications Inc. and Vodafone Group PLC, to sell ESPN sports news and video. Disney said yesterday it is considering offering some of its Disney-branded services through a partnership with a major carrier. Disney Mobile included services that let parents locate their kids as well as content such as ring tones and games with Mickey Mouse and other Disney stars.

Disney isn't the only company to stumble in the MVNO arena. Amp'd Mobile Inc. sought Chapter 11 bankruptcy-court protection this year, after its youth-focused service burned through $350 million in start-up funding.

Disney declined to comment on how much it had invested in its MVNOs or the cost of closing them. During a conference call in August 2006, Disney Chief Executive Bob Iger said the company was investing $150 million in Mobile ESPN in 2006. After announcing its closure last September, Disney Chief Financial Officer Tom Staggs told an analysts conference that the cost of closing it would be about $30 million.

The world's largest retailer said it will make available for $4 drugs to treat glaucoma, attention deficit disorder/attention deficit hyperactivity disorder, fungal infections and acne. Fertility and prescription birth control will also be available for $9, Wal-Mart said.

Last year, Wal-Mart began selling certain generic drugs for $4 per monthly prescription in September and by the end of November had extended the program to all its U.S. pharmacies -- far ahead of schedule.

The company said $4 prescriptions now account for nearly 40 percent of all prescriptions filled in its Wal-Mart, Sam's Club and Neighborhood Market pharmacies. It estimates that over the past year, the program has saved customers $613.6 million.

Earlier this year, it said it would open as many as 400 in-store health clinics in the next two to three years, and that number could jump to 2,000 in five to seven years.

The judge also dismissed claims against Thomas W. Jones, the former chief executive of Citigroup Asset Management, and Lewis E. Daidone, the former treasurer and chief financial officer of the Smith Barney family of funds.

"It is undisputed that defendants disclosed the amount of fees paid by the funds. Thus, plaintiffs were in possession of all material information, i.e., they knew the value of the funds," the judge said in a nine-page opinion.

The consolidated lawsuit alleged that Citigroup's asset-management business took most of the benefit of a discount from using an affiliated transfer agent for itself, pocketing more than $90 million, rather than passing on those savings to the mutual funds and their customers.

In February, another federal judge in Manhattan dismissed a similar case brought by the Securities and Exchange Commission against Jones and Daidone. Citigroup itself settled the SEC's charges in May 2005 and agreed to pay $208 million to affected mutual-fund customers. In settling, the financial-services company didn't admit or deny wrongdoing.

A lawyer for the investors and a Citigroup spokesman didn't immediately return phone calls seeking comment Wednesday.