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22nd of June 1995 News
Novice, kot so bile prikazane na prvi strani New York Timesa na 22. junij 1995
Man in the News; Black Leader for A.M.A. -- Dr. Lonnie Robert Bristow
Date: 22 June 1995
By Barnaby J. Feder
Barnaby Feder
There has been plenty of heated debate at the annual meeting here of the American Medical Association's House of Delegates, the 432 doctors whose votes on issues as diverse as assisted suicide and gun control and health care reform set policy for the society's nearly 300,000 members. None of the fractiousness, though, has revolved around Dr. Lonnie R. Bristow, a 65-year-old New York native who took office today as the first black president of the prestigious but troubled association.
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RYKA OFFERS DETAILS OF FINANCING PLAN
Date: 23 June 1995
By Bloomberg News
Bloomberg News
Ryka Inc. disclosed details yesterday of an agreement under which MR Acquisitions Inc. is expected to provide $8 million in financing in return for a 43 percent stake in the company. The agreement will save Ryka, a women's athletic footwear company in Norwood, Mass., from an immediate threat of bankruptcy by providing desperately needed capital. Ryka said in April that it might have to close after L.A. Gear Inc. canceled an agreement to buy it for $17.4 million. MR Acquisitions is a new company headed by Michael Rubin, 22, president of KPR Sports International. If the pact is completed as expected by July 7, Mr. Rubin will become chairman of Ryka, replacing Sheri Poe, Ryka's founder. She would serve as a spokeswoman, with the title of founder and director.
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CHAMPION INTERNATIONAL BUYS BACK 8% OF SHARES
Date: 23 June 1995
By Bloomberg News
Bloomberg News
The Champion International Corporation said yesterday that it had purchased almost 8 percent of its shares from Berkshire Hathaway Inc. for $387 million. The transaction occurred after Berkshire Hathaway, which is controlled by the financier Warren E. Buffett, converted its 300,000 shares of Champion International's preferred stock into 7.89 million shares of common stock. The stock of Champion, the paper producer based in Stamford, Conn., was up $2.625 a share, to $52.50, a 52-week high. Exercising its right of first refusal, Champion bought the shares from Berkshire Hathaway for $49.125 each. A spokeswoman for Champion said it had bought back the shares to prevent dilution of per-share earnings.
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BEECH AIRCRAFT GETS MILITARY PLANE PROJECT
Date: 23 June 1995
By Bloomberg News
Bloomberg News
The Beech Aircraft division of the Raytheon Company has been chosen to produce a new training plane for the Air Force and the Navy. The project, called the Joint Primary Aircraft Training System, could bring the company billions of dollars of business in the next decade. Raytheon and its Swiss partner, Pilatus Aircraft Ltd., a unit of Oerlikon-Buhrle, beat out Lockheed Martin, Northrop Grumman, Rockwell International and Textron to build the new plane. The Air Force expects to order 372 of the planes in the next several years, while the Navy expects to buy 339. The services may spend about $3 billion on the program through at least 2010.
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TELE-COMMUNICATIONS PLANS STOCK DEAL FOR COMPANY
Date: 23 June 1995
By Bloomberg News
Bloomberg News
Tele-Communications Inc. said yesterday that it would acquire control of the United Video Satellite Group Inc., of Tulsa, Okla., in a stock swap valued at $170 million to $250 million. The deal would leave United Video publicly traded. United Video shareholders would have the option of receiving shares of a new series of Tele-Communications preferred stock in the merger for as much as 50 percent of their shares at a 1-for-1 exchange ratio. The companies will cooperate in satellite dish businesses and in interactive television guides, said Roy Bliss, United Video's president. United Video's Prevue Guide cable channel is available in about 40 million homes in the United States.
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SONAT OFFSHORE ENDS ATTEMPT TO BUY READING & BATES
Date: 23 June 1995
By Bloomberg News
Bloomberg News
Sonat Offshore Drilling Inc. has ended its attempt to buy a rival, the Reading & Bates Corporation, after it rejected two takeover offers. The latest bid by Sonat Offshore was valued at $550 million, including Sonat stock and $98 million in cash. The offer was valued at $8.40 a share, up from the first offer of $7.50 a share, made in February. Both companies are based in Houston. Shares of Reading & Bates fell 12.5 cents, to $8.75, on the New York Stock Exchange, while Sonat Offshore shares were down 62.5 cents, to $29.375.
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NISSAN SAID TO PLAN INCREASED PURCHASES OF U.S. PARTS
Date: 22 June 1995
By Bloomberg News
Bloomberg News
The Nissan Motor Company will increase its purchases of auto parts, including engine parts, from North American companies, the Nihon Keizai newspaper reported today, and will move production of some parts from Mexico to the United States. American and Japanese negotiators are scheduled to resume stalled talks on auto and auto-parts trade in Geneva later today, and the newspaper said Nissan would announce its revised procurement plan as soon as the United States dropped its demands that Japan meet numerical targets for increased parts purchases.
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DOLE FOOD ENDS TALKS WITH SUN DIAMOND GROWERS
Date: 23 June 1995
By Bloomberg News
Bloomberg News
The Dole Food Company discontinued talks yesterday on selling its dried-fruit business to Sun Diamond Growers of California for $100 million, saying a Federal antitrust review could delay the transaction during the growing season. Dole, based in Westlake Village, Calif., said it would instead complete its new dried-fruit processing plant in Malaga, Calif. The dried-fruit season starts in early summer. Dole disclosed in March that it wanted to sell its United States dried-fruit business to Sun Diamond, a growers' cooperative based in Fresno, Calif. At the time, Dole said it would keep its almond and pistachio nut businesses and its European-based dried-fruit business. Dole shares rose 75 cents, to $29.25, on the New York Stock Exchange.
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WESTINGHOUSE AGAIN SET TO SELL MICROS SYSTEMS STAKE
Date: 22 June 1995
By Bloomberg News
Bloomberg News
The Westinghouse Electric Corporation said yesterday that it would try for a second time this year to sell its 62 percent stake in Micros Systems Inc. for at least $150 million as part of a plan to reduce debt. In March, Westinghouse postponed a planned secondary offering of its 4.85 million shares in Micros, a maker of point-of-sale computer systems used by restaurants and hotels. The sale was delayed because of market conditions. Westinghouse, based in Pittsburgh, now plans to sell its stake in Micros, a publicly traded subsidiary based in Beltsville, Md., in the second half of this year, a spokesman said. Westinghouse acquired its stake in Micros in 1986. Micros shares fell $1.25, to $33.50, in Nasdaq trading yesterday, while Westinghouse shares slipped 12.5 cents, to $15.125, on the New York Stock Exchange.
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KERR-MCGEE EXPECTING $400 MILLION FROM ASSET SALES
Date: 23 June 1995
By Bloomberg News
Bloomberg News
The Kerr-McGee Corporation said yesterday that it expected to raise $400 million from the sale of its petroleum refining and marketing assets. The company, based in Oklahoma City, said last year that it would sell its refineries piecemeal after the failure of a two-year effort to sell the unit as a whole. It has lined up agreements to sell a number of the assets, but no terms have been announced. Kerr-McGee shares fell $1.125 yesterday, to $53.375, on the New York Stock Exchange.
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