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12th of May 1994 News
Novice, kot so bile prikazane na prvi strani New York Timesa na 12. maj 1994
At the Bar; 'Come and get me': A Government lawyer takes up a sword -- er, pen -- against his employer.
Date: 13 May 1994
By Linda Greenhouse
Linda Greenhouse
In the annals of American civil disobedience, simply receiving payment for writing an op-ed article sounds a bit tame. And Peter G. Crane, a soft-spoken lawyer for the Nuclear Regulatory Commission who holds a high security clearance and spends his spare time researching the final decades of czarist Russia, appears a most unlikely candidate even to think about defying the law. But when Mr. Crane accepted a $150 payment from The Washington Post for an article entitled "Arrest Me, Officer, I'm Writing," he put himself in deliberate violation of a Federal law that prohibits Government employees from receiving pay for any "speech, article or appearance," whether or not connected in any way to their Government work.
Full Article
Air Products' Charge Set
Date: 12 May 1994
By Bloomberg News
Bloomberg News
Air Products and Chemicals Inc. said today that it would take an after-tax charge of $60 million, because of derivatives contracts it entered into with the Bankers Trust New York Corporation The company, which produces industrial gases, entered into five interest-rate swaps with Bankers Trust between October and December last year. The swaps were bets that United States and European interest rates would remain stable and were "leveraged," meaning that profits, or losses, could multiply very quickly.
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SHARES OF INSTRUMENT SYSTEMS DECLINE 18.6%
Date: 12 May 1994
By Bloomberg News
Bloomberg News
Shares of the Instrument Systems Corporation fell 18.6 percent yesterday after the company said the Procter & Gamble Company had canceled a $28 million-a-year contract to buy thin plastic laminate for baby diapers. P.& G. has decided to buy a lower-cost diaper moisture barrier, said Robert Balemian, president of Instrument Systems, based in Jericho, L.I. He said that P.& G. agreed to buy $10 million to $15 million a year of other plastic diaper film from Instrument Systems and that these purchases will be phased in to replace the plastic laminate purchases over the next six months. Instrument Systems stock fell $1.625, to $7.125, on the New York Stock Exchange, where the percentage decline was the worst of the day.
Full Article
Fiat Reports Big 1993 Loss
Date: 13 May 1994
By Bloomberg News
Bloomberg News
Fiat S.p.A. reported today that it sustained a deep loss in 1993 but that its sales grew 11 percent during the first three months of 1994, returning it to a profit at the operating level. Fiat said it lost 1.783 trillion lire, or about $1.1 billion, after tax last year, compared with a profit of 551 billion lire in 1992.
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BENSON OFFERS $21 A SHARE FOR OPTICAL RADIATION
Date: 12 May 1994
By Bloomberg News
Bloomberg News
The Benson Eyecare Corporation renewed its effort to acquire the Optical Radiation Corporation by submitting an offer of $21 a share. Benson, based in New York, already holds a 9 percent stake in Optical Radiation and would pay about $111 million to acquire the remaining 5.3 million outstanding shares, according to a filing with the Securities and Exchange Commission. Investors would receive $17 in cash and $4 in Benson common stock for each Optical Radiation share, the filing said. Benson asked Optical Radiation, based in Azusa, Calif., to respond by next Wednesday. Last summer, Optical Radiation spurned overtures from Benson. Shares of Optical Radiation rose 75 cents yesterday, to $21, in Nasdaq trading. Benson's stock was unchanged at $7.50 on the American Stock Exchange.
Full Article
MIRAGE IN AGREEMENT FOR NEW RESORT ON LAS VEGAS STRIP
Date: 12 May 1994
By Bloomberg News
Bloomberg News
Mirage Resorts Inc. and Gold Strike Resorts plan to develop a $250 million resort on the Strip in Las Vegas, Nev., that will be geared toward budget-conscious vacationers. The two companies agreed to build the resort on 43 acres at the south end of a site that formerly housed the Dunes casino-hotel, Mirage said. It will be across from the MGM Grand complex and will connect with Mirage's planned luxury resort at the Dunes-Flamingo corner. The closely held Gold Strike will manage the 50-50 project. The resort is expected to open in mid-1996.
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HUDSON CITY GIVES DETAILS ON LARGE PUBLIC OFFERING
Date: 13 May 1994
By Bloomberg News
Bloomberg News
New Jersey's largest savings bank, Hudson City Savings Bank, hopes to raise $825.2 million in what would be the biggest initial public offering ever made by a savings bank. The bank plans to offer 41.3 million shares at $20 each, according to documents submitted to the Federal Reserve Bank of New York by Hudson City, which is seeking permission to form a holding company as part of the offering. The bank, based in Paramus, N.J., announced its plans for the offering on Feb. 16. Eligible depositors as of June 30, 1993, will have priority rights over the general public to purchase stock in the company, which will be called Hudson City Bancorp Inc.
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Pearson Completes Deal
Date: 13 May 1994
By Bloomberg News
Bloomberg News
Pearson P.L.C., the British publisher of The Financial Times and Penguin books, said yesterday that it had completed the $462 million acquisition of Software Toolworks Inc. of Novato, Calif. Under the agreement, Software Toolworks, a software company that specializes in video games and software in CD-ROM format, will become a subsidiary of Pearson.
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Five Systems In Cable Deal
Date: 12 May 1994
By Bloomberg News
Bloomberg News
American Telecasting Inc. has agreed to acquire five wireless cable systems in four transactions worth about $105 million in stock and cash. The wireless systems, which have about 32,000 customers in areas with 1.2 million homes, are in Oklahoma City; Las Vegas, Nev.; Lakeland, Fla.; Wichita, Kan., and Casey, Ill.
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Digital Official Is Retiring
Date: 12 May 1994
By Bloomberg News
Bloomberg News
The Digital Equipment Corporation said this week that Edward B. McDonough would retire as vice president for worldwide manufacturing and logistics in June, at the end of the fiscal year. Mr. McDonough, who is 65, joined the company in 1976 and was named a vice president in 1986. He assumed his current post in 1992, replacing Robert B. Palmer, who was named president and chief executive. Mr. Palmer, who replaced the company's ousted founder, Kenneth Olsen, was charged with the mandate of stopping losses at the country's third-largest computer company.
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