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13th of September 1993 News
Novice, kot so bile prikazane na prvi strani New York Timesa na 13. september 1993
COMPAQ DISPLAYS PC THAT USES ELECTRONIC PEN
Date: 14 September 1993
By Bloomberg News
Bloomberg News
The Compaq Computer Corporation yesterday introduced its Concerto series of notebook personal computers, which let users enter data either on a keyboard or with an electronic pen. The Concerto models will be priced at about $2,499 and will ship by the end of the month, officials said. The new models followed last week's introduction by the rival IBM Personal Computer Co. of its new Thinkpad 750P, which also features a pen and lightweight keyboard.
Full Article
AIR FORCE SAYS MCDONNELL'S C-17 WING TEST FAILED
Date: 14 September 1993
By Bloomberg News
Bloomberg News
The Air Force late yesterday reversed course and said a wing on McDonnell Douglas Corporation's C-17 transport jet failed to pass a stress test on Friday. As a result, the Air Force said it was beginning an investigation of the C-17's wing design. Earlier in the day, an Air Force official had indicated that the wings had barely passed the test. That news helped slow a sharp selloff in McDonnell Douglas's shares. The plane, with a history of wing problems, was subjected to forces equal to 150 percent of the plane's maximum-load limit in the ground test. In the statement released late yesterday, the Air Force said it appeared that the left wing failed at a load limit of about 145 percent.
Full Article
CROWN CORK AND SEAL TO PRODUCE CANS IN JORDAN
Date: 14 September 1993
By Bloomberg News
Bloomberg News
The Crown Cork and Seal Company has formed a joint venture to produce aluminum cans in Jordan. The company, which will be called the Middle East Can Manufacturing Company, will be 30 percent owned by Crown Cork and Seal and situated in Amman. Crown said its partners include the Shaheen Business and Investment Group of Jordan and Ahmed Hamad Algosaibi & Brothers of Saudi Arabia. Production is expected by the end of 1994.
Full Article
ILLINOIS POWER MAY TAKE $202 MILLION WRITE-OFF
Date: 14 September 1993
By Bloomberg News
Bloomberg News
The Illinois Power Company may write off up to $202 million in the third quarter after an Illinois appeals court upheld key parts of a state commission order barring the utility from recovering funds spent building a power plant. The utility said the decision and the writeoff would not affect the utility's February and May dividend payments in 1994. The announcement came after the close of trading on the New York Stock Exchange, where the company's shares closed down 12.5 cents, at $25.375. The ruling by the Appellate Court of Illinois on Friday upheld an Aug. 7 decision by the Illinois Commerce Commission, which barred Illinois Power from recovering a "significant portion" of the construction costs for the Clinton Power Station.
Full Article
AmSouth to Buy Fortune Bancorp in $285 Million Florida Deal
Date: 14 September 1993
By Bloomberg News
Bloomberg News
The AmSouth Bancorporation said today that it had signed a definitive agreement to buy the 46-office Fortune Bancorp Inc. of Clearwater, Fla., for about $285 million in cash and stock. The acquisition of Fortune, with $2.6 billion of assets, is the latest in a series of eight Florida bank purchases by AmSouth, which currently has 24 offices in northwest Florida. After all the transactions close, AmSouth will be Florida's fifth-largest banking company, with $6.2 billion in assets and 125 branches.
Full Article
Order in Morningstar Case
Date: 14 September 1993
By Bloomberg News
Bloomberg News
Morningstar Inc., the mutual fund researcher, has won a round in its defense against a libel suit filed by Pilgrim Group Inc., a mutual fund company based here. The California Supreme Court last week ordered the State Court of Appeals to re-examine a decision that the case should proceed to trial. Morningstar called the order a victory.
Full Article
COMPANY NEWS;
Sonoco Acquiring Engraph
Date: 14 September 1993
By Jerry Schwartz
Jerry Schwartz
The Sonoco Products Company, a leading manufacturer of industrial packaging, extended its reach into the consumer packaging arena today with the announcement that it is acquiring Atlanta-based Engraph Inc. for about $300 million.
Sonoco, based in Hartsville, S.C., said it would pay $15.63 a share for Engraph. Engraph closed yesterday on the Nasdaq at $15.375, up $2.375; Sonoco closed at $22.50, down 50 cents, on the same exchange.
Full Article
COMPANY NEWS
Date: 14 September 1993
AER ENERGY RESOURCES INC., Smyrna, Ga., said it had acquired rights to a proprietary cathode technology through a license agreement with Westinghouse Electric Corp. ALLIED SIGNAL INC., Morristown, N.J., said it planned to sell its wholly owned Fluid Systems Corp. unit.
Full Article
Lloyd's Tells Of Its Plans On Investing
Date: 14 September 1993
By Bloomberg News
Bloomberg News
Lloyd's of London broke with 305 years of tradition today, disclosing the terms on which corporate investors will be allowed to invest in the market for the first time. The move comes at a time when the insurance market is shrinking after Lloyd's registered cumulative losses of nearly $:5.56 billion ($8.3 billion), before taxes, for its three most recent reported years.
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Ford Unit Buys Card Accounts
Date: 14 September 1993
By Bloomberg News
Bloomberg News
The Associates National Bank said today that it would acquire the $222 million credit card portfolio of Great Western Bank, the principal subsidiary of the Great Western Financial Corporation. Associates is an affiliate of the Associates Corporation of North America, a subsidiary of the Ford Motor Company.
Full Article
Precious Metals Continue Their Low-Inflation Slide
Date: 14 September 1993
By Bloomberg News
Bloomberg News
Gold and silver prices continued to slide yesterday amid expectations of continuing low inflation and slow economic growth. On other commodity markets, oil prices rebounded from their three-year lows on Friday.
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Probation Set In Insider Case
Date: 14 September 1993
By Bloomberg News
Bloomberg News
Edward R. Downe Jr., a member of a Long Island social circle that shared confidential stock tips, was sentenced yesterday to three years' probation for insider trading. Federal District Judge Shirley Wohl Kram in Manhattan also ordered Mr. Downe to serve 3,000 hours of community service.
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Rig Count Edges Up
Date: 13 September 1993
By Bloomberg News
Bloomberg News
Baker Hughes Inc. says its count of rigs drilling for petroleum in the United States rose by one, to 835, last week. The oil service company's widely watched measure of oil and natural gas exploration is 21.5 percent above the count a year ago, when 687 rigs were drilling.
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