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El Segundo-based Merisel Inc. reported fourth-quarter net income of $1.68 million, or 6 cents a share, contrasted with a loss of $77.3 million, or $2.59, in the year-ago quarter. The results represent the first profitable quarter in the last eight. . . . Long Beach-based BW/IP Inc. said it named President and Chief Executive Bernard G. Rethore to the additional post of chairman, replacing Peter C. Valli, 70. . . . One of two Orange County men convicted in Southern California’s largest stock-manipulation scheme failed to appear for sentencing and is now being sought as a fugitive, authorities said. Ahmad Naim Bayaa, 43, of Irvine, the principal architect of a $12.5-million scam, disappeared before he was to be sentenced Friday. U.S. District Judge Richard A. Paez issued a warrant for his arrest. Bayaa was convicted in May of conspiracy, money laundering and securities fraud in the operation of his Southland Communications Inc., a Santa Ana provider of paging services.