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5th of December 1991 News
Novice, kot so bile prikazane na prvi strani New York Timesa na 5. december 1991
Daily News Files for Bankruptcy But Seeks to Continue Publishing
Date: 06 December 1991
By Alex S. Jones
Alex Jones
The Daily News filed for Federal bankruptcy court protection yesterday, and while the paper will probably continue to operate for now, the possibility that it will soon be sold or closed has greatly increased. The paper's bankruptcy filing came on the same day that the Maxwell family's privately held companies, which control The Daily News and hundreds of other family companies, filed for bankruptcy in Britain. The British court appointed four partners at Arthur Andersen & Company, the accounting firm, to act as administrators of the private companies. [ Page D7. ]
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Sons File for Bankruptcy for Private Maxwell Companies
Date: 06 December 1991
By Steven Prokesch
Steven Prokesch
The global publishing empire that the late Robert Maxwell built on a foundation of debt -- and possibly illegal financial dealings -- came tumbling down today as his sons sought bankruptcy court protection in Britain for two of the Maxwell family's private companies. The Daily News of New York, which is owned by one of the companies, later filed in New York for protection from its creditors under Chapter 11 of the United States Bankruptcy Code. For the moment, the newspaper, once America's most widely circulated daily, will continue to be published. But it is likely that new attempts will be made to sell The Daily News.
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Corning Dividend
Date: 05 December 1991
By Bloomberg News
Bloomberg News
Corning Inc. said its directors had increased the quarterly dividend to 30 cents a share, from 25 cents, and had declared a year-end special dividend of 30 cents a share. The dividends are payable on Dec. 31 to shareholders of record on Dec. 16. Corning directors also approved a 2-for-1 stock split, payable as a 100 percent stock dividend on Feb. 10 to holders of record on Jan. 13. The split will raise the number of outstanding common shares to 193.6 million, from 96.8 million. Corning's shares rose 12.5 cents each today, to $77.75, on the New York Stock Exchange.
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Job Cuts at Bass
Date: 05 December 1991
By Bloomberg News
Bloomberg News
Bass P.L.C. said it would cut a total of 460 jobs as part of the restructuring of its British brewing operations. Bass has incurred an exceptional charge totaling $:55 million, or about $98 million, in its fiscal 1991 earnings because of the restructuring and job losses at its Bass Taverns unit. Bass said the revamping would take place over two and a half years. The job losses will be partly offset by 50 new jobs at Bass's Cape Hill Brewery in Birmingham, where the company plans to invest $:50 million by 1994. Bass is transferring some brewing and packaging operations to Cape Hill from a brewery in Glasgow.
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Cundill Increases Russ Togs Stake
Date: 06 December 1991
By Bloomberg News
Bloomberg News
Peter Cundill & Associates, a Bermuda investment company, has increased its stake in the bankrupt apparel maker Russ Togs Inc. Cundill bought 253,700 common shares between Nov. 7 and Nov. 27 at $0.875 to $1.00 a share or a total price of about $224,000, according to a 13D filing with the Securities and Exchange Commission.
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Australian Cabinet Shift
Date: 06 December 1991
By Bloomberg News
Bloomberg News
Australian Prime Minister Bob Hawke said today that Finance Minister Ralph Willis would replace John Kerin as Treasurer, effective immediately. Mr. Kerin, who has been Treasurer for six months, has been given the Transport and Communications post, Mr. Hawke said.
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S.E.C. Seeks Rules Change
Date: 06 December 1991
By Bloomberg News
Bloomberg News
The Securities and Exchange Commission is seeking to ease the process by which smaller companies can tap capital markets, the S.E.C. chairman, Richard C. Breeden, said today. "The commission should be willing to revisit our own rules under the securities act and the investment company act to streamline the process by which smaller companies can tap the market without abandoning protections against fraud," he said at the annual session of the Securities Industry Associations.
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NEWS SUMMARY
Date: 06 December 1991
International A3-12 STRIKING A DEAL ON HOSTAGES As the U.N. Secretary General recalls it, the first sign that all the Western hostages would be freed came when the Iranian President gave him his word that Teheran would use its influence. A1 Terry Anderson was reunited with his sister in Germany. A12
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NEWS SUMMARY
Date: 05 December 1991
INTERNATIONAL A3-22 LAST U.S. HOSTAGE IS FREE Terry Anderson, the longest-held American hostage in Lebanon, was freed by his kidnappers after nearly seven years in captivity. Smiling and laughing as he met with reporters in Syria, he said he was in good health. A1
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CBS Adding an Overnight News Program
Date: 05 December 1991
By Bill Carter
Bill Carter
CBS News announced yesterday that it would begin an overnight news program early next year, replacing "Nightwatch," a news interview program that has been broadcast since 1982. The move will result in layoffs in CBS News's Washington bureau, the network said. CBS would not disclose the number of people who would lose their jobs, but a CBS News executive, who spoke on condition of anonymity, estimated that up to 50 people would be affected and that only a few of them were likely to be hired for the new program.
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