Ponovno predvajanje ponedeljek, 16. oktober 1995

Newspapers Cut Spanish-Language Publications

Date: 16 October 1995

By Allen R. Myerson

Allen Myerson

In the last few years, the surge in the country's Hispanic population and the success of Spanish-language radio and television have caused newspaper publishers across the nation to try to cash in. Start new Spanish supplements and Spanish editions, they ordered. Then they sat back to wait for the advertisements and dollars to roll in. Que horror! The expected Hispanic readers never turned off their radios and televisions, advertisers never arrived and shareholders of the newspaper companies wanted to know why cash was pouring out, not in. Now the publishers are shutting their new sections or at least cutting them back.

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Earnest Crowd, Empty Leader

Date: 17 October 1995

The Million Man March produced a huge crowd hungry for great oratory. But instead of something like the crystalline 19 minutes of Martin Luther King's "I Have a Dream" speech, this crowd got a rambling, self-obsessed two hours from Louis Farrakhan. By the time the Nation of Islam leader got through such arcane matters as numerology and Masonic lore, his adjurations against violence in black neighborhoods seemed almost perfunctory. He seemed more interested in continuing his personal negotiations with the press and the Jewish community over his past racist statements than in answering the expectations that drew such a large and earnest crowd to the Mall. As his speech wore on, it was clear that the potential of the event and the opportunity to lead with a dramatic personal atonement had both escaped him. Even so, the day had its hopeful aspects. Many Americans feared, given Mr. Farrakhan's record, that the march would degenerate into an overtly inflammatory event, worsening racial tensions that surfaced after the acquittal of O. J. Simpson. The fear was legitimate, given Mr. Farrakhan's past inflammatory remarks about Jews, Catholics, Asians, gay people and others -- and his bitterly contested insistence that the marchers be men only.

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SYMS SHARES DIVE AS BUYBACK OFFER WITHDRAWN

Date: 17 October 1995

By Bloomberg News

Bloomberg News

The Syms Corporation's stock fell nearly 17 percent yesterday after its chairman and chief executive, Sy Syms, withdrew his offer to take the company private, saying it would cost too much. Shares of Syms, a discount apparel retailer based in Secaucus, N.J., fell $1.50, to $7.50. On Aug. 30, Mr. Syms and the other shareholders, including his daughter, Marcy Syms, president of the company, agreed to buy company shares they did not already own for $8.75 each. At that price the buyout would have cost about $31 million. The Syms family owns about 80 percent of the company.

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Big Board Seat: $950,000

Date: 16 October 1995

By Bloomberg News

Bloomberg News

A seat on the New York Stock Exchange was sold for $950,000, unchanged from the previous sale on Sept. 15, the exchange said last week. The current bid for a seat on the Big Board is $825,000 and the offer is $1 million. The record price for a Big Board seat is $1.15 million, set on Sept. 21, 1987, one month before the stock market crashed. A seat confers membership on a securities or commodities exchange. The number of seats on the stock exchange has held constant at 1,366 since 1953.

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Evergreen to Buy Station

Date: 16 October 1995

By Bloomberg News

Bloomberg News

The Evergreen Media Corporation is planning to buy the country-music radio station WKLB-FM (105.7) of Boston from Fairbanks Communications Inc. for $34 million in cash. This year, Evergreen Media, the radio station owner based in Irving, has purchased or announced plans to purchase 25 radio stations, bringing its total to 36 stations. Evergreen said it expected to close the WKLB purchase in the first quarter of 1996.

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First Bank System in Index

Date: 17 October 1995

By Bloomberg News

Bloomberg News

The shares of First Bank System Inc. rose today after being added to the Standard & Poor's 500-stock index after the close of trading on Friday. Shares of the bank holding company, which is based in Minneapolis, rose $1.625, to $51.875, on the New York Stock Exchange. Some mutual funds invest only in stocks listed in the S.& P. 500 index, and inclusion in the index broadens the number of investors likely to be interested in a company. First Bank replaced the First Mississippi Corporation, a specialty chemicals company based in Jackson, Miss., whose shares fell $1, to $39.875.

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Charge Taken By Donaldson

Date: 17 October 1995

By Bloomberg News

Bloomberg News

Donaldson, Lufkin & Jenrette Inc. has taken a $25 million pretax charge in the third quarter related to a short-term loan to a client, people close to the company said yesterday. The firm, a unit of the Equitable Companies, made the loan to the Coram Healthcare Corporation, a Denver company that provides services in patients' homes, the people close to the company said.

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Packard Bell Countersues Compaq

Date: 16 October 1995

By Bloomberg News

Bloomberg News

Packard Bell Electronics Inc. has countersued the Compaq Computer Corporation, contending unfair competition and defamation. Packard Bell said it was seeking unspecified punitive damages and reimbursement for loss of income because of a campaign against the company by Compaq.

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Westinghouse Pact With Philippines

Date: 16 October 1995

By Bloomberg News

Bloomberg News

The Westinghouse Electric Corporation said it had reached a settlement with the Government of the Philippines that ends litigation over an idled nuclear-power plant and lifts that nation's ban on Westinghouse products. While terms were not disclosed, Westinghouse said late Friday that it would take a $45 million charge for the settlement in its third quarter.

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French and Italian Politics Send Mark Up and the Dollar Down

Date: 17 October 1995

By Bloomberg News

Bloomberg News

The dollar slipped against most other leading currencies yesterday as new political troubles in France and Italy bolstered the German mark. The political uncertainty raised doubt that the two Governments would make the tough budget choices needed to meet requirements for European monetary union laid out in the Maastricht treaty, and it sent some investors seeking security in the mark, analysts said.

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