Ponovno predvajanje sobota, 18. februar 1995

Philadelphia Editor Heads For a Top Post in Newark

Date: 18 February 1995

By William Glaberson

William Glaberson

A Pulitzer prize-winning editorial page editor for The Philadelphia Daily News is leaving that paper to become editor of the editorial page at The Star-Ledger in Newark. The editor, Rich Aregood, who is widely admired in the newspaper industry as a staccato and irreverent writer, said yesterday that he had resigned from the Philadelphia tabloid newspaper largely because of the business pressures to cut editorial resources that are affecting newspapers across the country.

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Press Protests 'Gag' Bills In Argentina

Date: 19 February 1995

By Calvin Sims

Calvin Sims

The administration of President Carlos Sal Menem sent three bills to Congress last month that could muzzle the press in this an election year if they are approved, advocates of free speech say. The bills, which have a good chance of passing the Menem-controlled legislature, would greatly increase the penalties for libel and slander, make it a crime to offend the memory of the dead, and force news outlets to take out costly libel insurance.

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GENERAL MILLS PLANS LAYOFF OF 350 WORKERS

Date: 18 February 1995

By Bloomberg News

Bloomberg News

General Mills Inc. said yesterday that it would lay off about 350 workers in its consumer foods division as the company starts a restructuring announced earlier this week. It will shut down two systems at its South Chicago plant that make puffed cereal and another that makes cereal flakes, idling about 240 people. In addition, it has shut down puffed cereal production in Albuquerque, N.M., where it had hired about 15 temporary workers. Production of the Squeeze-It juice product will be consolidated in Carlisle, Pa., resulting in the layoff of 50 people at Lodi, Calif. General Mills, which is based in Minneapolis, is also setting aside snack production in Covington, Ga., except for its Bugles Light product. About 45 workers will lose their jobs.

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U.S. SHOE AND NINE WEST END TALKS

Date: 18 February 1995

By Bloomberg News

Bloomberg News

The United States Shoe Corporation and Nine West Group said yesterday that they had broken off talks about Nine West's proposed purchase of U.S. Shoe's footwear division. U.S. Shoe, based in Cincinnati, accused Nine West of stalling when the companies were close to an agreement. But Nine West, based in Stamford, Conn., said it had backed out because its "due diligence review" of the footwear unit led it to decide its offer of $600 million plus stock warrants was too high. Nine West said that it had offered U.S. Shoe $525 million and more warrants but was rejected. Bannus B. Hudson, the chief executive of U.S. Shoe, said in a statement that it was "actively exploring other transaction options." In December, Nine West said it expected a final agreement by the end of January to acquire the unit.

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Seita Shares Sell Briskly

Date: 18 February 1995

By Bloomberg News

Bloomberg News

About one million individual investors applied for 3.9 times the number of shares being sold in Seita, the state tobacco company, in a sale that is expected to raise a total of 5.7 billion francs ($1.1 billion). If the success of the sale of 90 percent of the company's stock is measured by applications, then private investors' appetite to buy the company's stock was higher than for it had been for Elf Aquitaine S.A., Rhone-Poulenc S.A. and Renault S.A. The sale closed three days ago.

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Gasoline Rises a Fourth Day As E.P.A. Studies Additives

Date: 18 February 1995

By Bloomberg News

Bloomberg News

Gasoline prices rose for the fourth consecutive day yesterday on signs the Government will not allow states to stop sales of the clean-burning fuel traded on the futures exchange. The move helped lift crude oil close to $19 a barrel, its highest price since Nov. 2.

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Treasuries Track Dollar, Falling a Bit

Date: 18 February 1995

By Bloomberg News

Bloomberg News

Treasury prices showed little change yesterday after tracking the dollar through a shortened session. Bonds and the dollar "synchronized a little bit today," said Gerald Thunelius, who manages $1.5 billion in bonds at the Dreyfus Corporation "As the dollar strengthened, the bond market also strengthened."

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COMPANY NEWS

Date: 18 February 1995

DRESSER INDUSTRIES, Dallas, has signed a letter of intent to acquire Wellstream Co., Panama City, Fla., a maker of pipe systems for the offshore oil and gas industry. Terms were not disclosed. MERCANTILE BANCORP, St. Louis, plans to acquire Amerifirst Bancorp, Sikeston, Mo., for about $23.8 million in stock. NUCOR CORP., Charlotte, N.C., a steel products maker, plans to build a steel fastener plant in Conway, Ark. The plant is expected to cost about $27 million and to begin operating in the first quarter of 1996.

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NEWS SUMMARY

Date: 18 February 1995

International 2-5 MEXICAN LEADER'S IMAGE SUFFERS New analysis: After seizing rebel territory and then, almost as suddenly, offering an amnesty, Mexico's new President has done little to dispel an image of political weakness and ineptitude. 1

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NEWS SUMMARY

Date: 19 February 1995

International 3-18 RUSSIA'S DECLINING HEALTH Russia is caught in a health crisis. Curable diseases have reached epidemic levels, and cancer and heart disease are higher than in any other industrialized country. 1 TURNING POINT IN AFGHANISTAN A U.N. effort to bring peace to Afghanistan reached a critical point as an envoy launched an effort to bring the main warring groups into a new coalition Government. 3

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