Ponovno predvajanje torek, 2. april 1996

Covering Tobacco: A Cautionary Tale

Date: 02 April 1996

By Walter Goodman

Walter Goodman

In recent weeks television news and magazine programs have become warriors in the resurgent anticigarette wars, in alliance with whistle-blowers, government officials and legislators, plaintiffs against tobacco companies and antismokers at large. The wholesome-looking tobacco-company front men and women who used to blow smoke at the cameras have become as rare as puffers in a courtroom. Instead, the industry's image is that famous 1994 lineup of seven chief executives swearing to Congress -- one after the other in a scene that defies parody -- that they do not believe nicotine is addictive. Exhibited whenever the subject is treated, it must seem to company defenders the sort of endlessly repeated nightmare that sends people to psychiatrists.

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Murdoch May Seek Satellite Deal With TCI

Date: 02 April 1996

By Bloomberg Business News

Bloomberg News

The chairman of the News Corporation, Rupert Murdoch, said yesterday that he was prepared to invest hundreds of millions of dollars in a joint venture with Tele-Communications Inc. and John C. Malone, its chief executive, to provide satellite television in the United States. Joining Tele-Communications would allow Mr. Murdoch and the MCI Communications Corporation, with which the News Corporation has a satellite-television joint venture, to compete more quickly with DirecTV, the industry leader with 1.3 subscribers. That is because Tele-Communications, or TCI, is a member of another satellite broadcasting group, Primestar Partners, which has 1.1 million subscribers.

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Journalism's Masters

Date: 03 April 1996

To the Editor: As a newsman for 31 years, I agree with Maureen Dowd that James Fallows, in "Breaking the News: How the Media Undermine American Democracy," got it all wrong (column, March 31). But then so does Ms. Dowd.

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NEWS SUMMARY

Date: 02 April 1996

International A3-10

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News Summary

Date: 03 April 1996

International A3-9

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World News Briefs;Revival of Warsaw Pact No Joke in East Europe

Date: 02 April 1996

AP

A Russian news agency found out today that jokes about the old Soviet Union are not so funny to the people of Eastern Europe, even on April Fools' Day. Itar-Tass, which traditionally runs a few gag items on April 1, reported today that Russia's Parliament was considering a revival of the Warsaw Pact, the old Soviet military alliance that once included Eastern European countries.

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COMPANY NEWS;WOOLWORTH'S BOARD OPPOSES SPINOFF PROPOSAL

Date: 03 April 1996

Bloomberg Business News

Bloomberg News

The Woolworth Corporation said yesterday that the board would recommend that shareholders vote against a proposal made by Greenway Partners L.P., an asset management company, that the retailer, which is based in New York, spin off its athletic footwear and apparel division. Greenway Partners proposed the move on Feb. 1, saying that division -- which is mainly the Foot Locker chain -- would be more attractive as a separate company. Greenway holds 8 million shares, or 6 percent, of Woolworth's stock. Woolworth's board said the spinoff would not increase shareholder value. It said that would require the "operational turnaround" of several of its units.

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COMPANY NEWS;BENNETT FUNDING FILES FOR BANKRUPTCY PROTECTION

Date: 02 April 1996

Bloomberg Business News

Bloomberg News

The Bennett Funding Group Inc. and three affiliates filed for Chapter 11 bankruptcy protection on Friday and have suspended payments to investors, a lawyer for the company said yesterday. The office-equipment leasing company was sued by the Securities and Exchange Commission on Thursday for reportedly defrauding investors. The S.E.C. said the Syracuse-based Bennett Funding ran a "massive Ponzi scheme" involving $570 million of securities. The company and its chief financial officer, Patrick Bennett, have denied the charges. Mr. Bennett also faces criminal charges of securities fraud and perjury. The company is owned by Mr. Bennett's parents, Edmund and Kathleen Bennett, who were not named in the suit.

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COMPANY NEWS;PANAMSAT CONSIDERS SALE, MERGER OR ALLIANCE

Date: 03 April 1996

Reuters

The Panamsat Corporation said yesterday that it had hired Morgan Stanley & Company to explore its strategic alternatives, including joint ventures, alliances, mergers or the sale of the company. Panamsat also filed a registration statement with the Securities and Exchange Commission for a secondary offering of $350 million of common stock. Grupo Televisa S.A., which owns 40.5 million of Panamsat's 100 million shares, said it had not made a decision about Panamsat, based in Greenwich, Conn., or its other assets and could nott promise transactions would result from its review.

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COMPANY NEWS;CHIP MAKER ANNOUNCES CHARGE AND LAYOFFS

Date: 03 April 1996

Reuters

The National Semiconductor Corporation said yesterday that it would cut its worldwide work force by about 400 people and take a related charge of at least $20 million in the current fourth quarter. The chip maker said a slowdown in new orders for computer chips prompted the layoffs, which would involve mainly factory and administrative jobs. National Semiconductor, which employs 21,000 people worldwide, said last month that a slide in its third-quarter earnings was caused by a drop in worldwide orders and bookings, all stemming from the slowdown in PC sales. In the three months ended Feb. 25, the company earned $23 million, or 17 cents a share. National Semiconductor's stock lost 37.5 cents, to $14, on the New York Stock Exchange.

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