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Date: 16 July 1992
By Gwen Ifill
Gwen Ifill
By the time he finished his long-winded nomination speech for Michael S. Dukakis at the 1988 Democratic National Convention, Bill Clinton knew he had bombed. After all, the audience was chanting, "Get off, get off." "Had I been Bill at that point," said Samuel Berger, an adviser who was backstage, "I would have gone out and dug the deepest hole I could and buried myself."
Date: 17 July 1992
By Art Buchwald
Art Buchwald
I have been asked by this paper to pay homage to Russell Baker, the Grand Old Man of American Humor Columnists. Yesterday was the 30th anniversary of his first column, which brought so much joy and happiness to millions of readers. Every humor writer in America can remember exactly what he or she was doing the moment they met Russ Baker. I was 10 years old and watching the Hindenburg zeppelin land in New Jersey. I noticed off to one side a tall lanky man chewing on a piece of straw. I recognized him immediately because he was wearing his familiar trademark, a black patch over his left eye. I went up to him and blurted out: "Mr. Baker, I hope to follow in your footsteps when I grow up. To what do you attribute your success as a humorist?" He tousled my hair and grinned, "I never met a man I didn't like."
Date: 16 July 1992
Six unions whose members were laid off after a strike against a company that publishes two Pittsburgh newspapers decided today to meet to discuss the company's plan to resume operations. The newspapers have not published since May. The company, The Pittsburgh Press Company, said on Tuesday that it intended to resume publication of one or both papers, possibly within 10 days, with or without an agreement with the striking union, Local 211 of the International Brotherhood of Teamsters.
Date: 16 July 1992
By Bloomberg News
Bloomberg News
The Maytag Corporation said today that second-quarter net income rose 24 percent, despite slightly lower sales. Maytag's earnings were $23.3 million, or 22 cents a share, up from $18.8 million, or 18 cents a share, a year earlier. Results in the 1991 quarter reflected a $10 million charge from the closing of a vending equipment plant. The maker of home appliances and vending equipment said second-quarter revenue was hurt by declining European sales. Revenue was $770.1 million for the quarter, compared with $777.6 million. The company's stock fell 25 cents, to $15.75, in trading today on the New York Stock Exchange.
Date: 16 July 1992
By Bloomberg News
Bloomberg News
The B. F. Goodrich Company, citing strength in its aerospace products and services segment, said second-quarter net income rose 57.8 percent. Net income rose to $13.1 million, or 43 cents a share, from $8.3 million, or 25 cents a share, in the corresponding quarter a year ago. Revenue increased 3.2 percent, to $657.3 million from $637 million.
Date: 16 July 1992
By Bloomberg News
Bloomberg News
Sunrise Technologies shares gained 20 percent on the news that the Food and Drug Administration had cleared the Fremont, Calif., company to sell its laser system to treat patients with glaucoma in doctors' offices. The Slase 210 Holmium Laser System is already approved for general, orthopedic and spine surgery. For glaucoma, it is used to create a duct to dispel abnormal pressure in the eye. In over-the-counter trading yesterday, Sunrise jumped $1.625, to $9.625. Analysts noted that Sunrise and American Dental Laser were in arbitration over a contract under which Sunrise makes a dental laser using ADL technology. ADL, of Troy, Mich., sells the device worldwide. The companies disagree on the number of lasers ADL must order in 1992.
Date: 17 July 1992
By Bloomberg News
Bloomberg News
R. H. Macy & Company and its lenders amended the retailer's bank loans, expecting lower sales this fall. "Both Macy and the bankers wanted to plan very conservatively for the fall," a Macy spokesman said. The amended $600 million loan agreement cuts Macy's required earnings before interest, taxes, depreciation and amortization to $10 million from $70 million for the quarter ending Oct. 31. For the quarter ending in January, which includes the Christmas selling season, the earning requirement is cut to $130 million from $150 million. Macy filed under the bankruptcy laws in January.
Date: 17 July 1992
By Bloomberg News
Bloomberg News
The Nationsbank Corporation, the country's fourth-largest bank holding company, said second-quarter earnings rose 22 percent on a wider net interest margin and lower charge-offs and assets not earning interest. Net income rose to $251 million, or $1 a share, from $206 million, or 88 cents, in the period a year earlier. Net interest income inched up to $1 billion from $997 million, while the provision for possible losses on bad loans dropped to $150 million from $294 million. The net interest margin, the difference between what the bank pays for funds and what it charges customers for loans, rose to 4.11 percent from 3.86 percent. Despite the profit rise, Nationbank's shares fell $1.25, to $45.875, on the New York Stock Exchange.
Date: 16 July 1992
By Bloomberg News
Bloomberg News
The Neiman Marcus Groupagreed to settle all litigation and other issues with Carter Hawley Hale Stores Inc. for $7.6 million. Neiman Marcus will pay Carter Hawley when Carter Hawley emerges from Chapter 11 bankruptcy protection. Carter Hawley, based in Los Angeles, expects that to happen in September. The payment includes a $3.6 million repayment of certain obligations undertaken in Carter Hawley's 1987 restructuring when Neiman Marcus was spun off, said a spokeswoman for Neiman Marcus. The accord is part of the reorganization plan that Carter Hawley filed on July 7, and its completion is subject to approval of the plan. The General Cinema Corporation owns about 63 percent of Neiman's common stock.
Date: 16 July 1992
By Bloomberg News
Bloomberg News
The Mitsubishi Motors Corporation's Diamond-Star Motors unit and the United Automobile Workers have begun to negotiate a new contract. The current three-year agreement expires on Aug. 27, and Mitsubishi officials said they were confident a pact could be reached before then for the 2,500 workers who produce small sports coupes and sedans at the Normal, Ill., plant. Diamond-Star began in 1985 as a 50-50 joint venture of Mitsubishi and the Chrysler Corporation. In October 1991, Chrysler sold its share to Mitsubishi for $99.8 million.