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Capital Group Cos.’ Capital Guardian Trust Co., which invests about $80 billion for institutions and individuals, said it hired executive Bill Ring from Robertson Stephens Investment Management. Los Angeles-based Capital Guardian is one of the largest U.S. money managers for institutions.

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P. Gregory Conlon, a member of the state Public Utilities Commission who is set to retire Dec. 31, said Gov. Pete Wilson intends to reappoint him to another six-year term Jan. 1. Gov.-elect Gray Davis could withdraw the nomination if he objects. The nomination would be subject to confirmation by the state Senate.

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Dynatech Corp., a Burlington, Mass.-based diversified electronics company that concluded an $848-million management buyout in May, plans to spin off profitable businesses, including its growing Airshow Inc. unit in Tustin, as early as next year, Chairman John F. Reno said. Airshow is already the leading supplier of in-flight television and entertainment systems to the burgeoning executive-jet market.

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San Diego-based WD-40 Co., a maker of multipurpose lubricants, reported net income of $3.7 million, or 24 cents per share, for the fiscal first quarter ended Nov. 30, compared with net income of $5.2 million, or 33 cents, a year ago. Revenue declined 12% to $29.6 million from $33.6 million a year ago.

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