Ponovno predvajanje ponedeljek, 20. maj 1996

Cuban Voices of Freedom

Date: 20 May 1996

Encouraging a freer flow of information in Fidel Castro's Cuba has never been easy, but recent developments in Havana and Washington will make it even harder. In Havana earlier this month, the hammer fell on Rafael Solano, a journalist whose realistic dispatches were said to be attempts at subversion. Given a choice between jail and exile, and having already served six weeks in a Cuban prison, he chose exile in Spain, which meant leaving a vulnerable family behind. Mr. Solano belongs to a courageous group of risk-taking independent Cuban journalists. He is the founder of Havana Press, one of three unofficial news agencies that may herald a return to press freedom in post-Castro Cuba. Each is staffed by journalists whose unwillingness to regurgitate official pap lost them jobs at governmental news agencies. Though they cannot print or broadcast reports within Cuba, the unofficial agencies have been able to provide uncensored accounts via fax to newspapers and radio stations elsewhere. When one agency reported last year on Cuba's nuclear power safety hazards, its reporter was detained and the agency founder, Yndamiro Restano, was jailed and then forced into exile.

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For Journalism Graduates, Opportunities in New Media

Date: 20 May 1996

By Gianna Jacobson

Gianna Jacobson

When Addie Butt enrolled in the journalism school at the University of Missouri here two years ago, her goal was to become a newspaper sportswriter. But one of the school's newest courses -- new media, an intensive study of on-line publications -- changed her plans. Within days of graduation, Ms. Butt will report for a $500-a-week job at Fastball, an on-line publication about major league baseball owned by Cox Communications in Atlanta, a unit of Cox Enterprises.

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NEWS SUMMARY

Date: 21 May 1996

International A3-10

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NEWS SUMMARY

Date: 20 May 1996

International A3-9

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COMPANY NEWS;ANOTHER ACQUISITION FOR REPUBLIC INDUSTRIES

Date: 21 May 1996

Dow Jones

Dow Jones

Republic Industries said yesterday that it planned to buy Continental Waste Industries of Clark, N.J., in a transaction valued about $240 million. Under the deal, Continental shareholders are to get two-fifths of a Republic share for each share held. Republic, a provider of solid waste and electronic security services that is based in Fort Lauderdale, Fla., has been aggressively making acquisitions since August 1995, when H. Wayne Huizenga invested $27 million in the company and became its chief executive. Its shares rose $3.25, to $43.875, in Nasdaq trading; Continental's shares rose $2.875, to $16.25.

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COMPANY NEWS;SONAT DRILLING SWEETENS OFFER FOR TRANSOCEAN

Date: 21 May 1996

Reuters

Sonat Offshore Drilling Inc. has virtually locked up an acquisition of Transocean A.S. of Norway by raising its bid and winning support from Transocean's largest shareholder, the Tiger Management Corporation, analysts said yesterday. Sonat, a Houston-based drilling company, increased its offer to 0.53 share of its stock, for each share of Transocean. At Sonat's current stock price, the offer is worth about $27.83 for each Transocean share. The previous offer had been valued about $27.08 a share in cash and stock. Based on yesterday's closing stock prices, the revised Sonat offer values Transocean at $1.43 billion. A rival offer, from the Reading & Bates Corporation, another Houston-based drilling company, values Transocean at $1.49 billion. A spokesman for Reading & Bates could not be reached for comment.

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COMPANY NEWS;REPUBLIC ENVIRONMENTAL TO SELL A MAJORITY STAKE

Date: 21 May 1996

Dow Jones

Dow Jones

Republic Environmental Systems Inc. said yesterday that it had agreed to sell a majority stake to the Alliance Holding Corporation, which is to contribute its Century Surety Group in exchange for 7.5 million new Republic common shares and options to buy 2.1 million more. Republic's chief executive, Michael G. DeGroote, and H. Wayne Huizenga will each invest $5.25 million, receiving one million newly issued common shares apiece and options to buy up to three million more. Republic, a waste cleanup company in Blue Bell, Pa., said it would move its headquarters to Cleveland, where Century is based. Alliance Holding is controlled by a group that includes Joseph E. LoConti, a director of Republic. Mr. Huizenga, chief executive of Republic Industries, does not currently have a stake in Republic Environmental, which was spun off by Republic Industries last year. Republic Environmental shares rose $5.375 yesterday, to $10, in Nasdaq trading.

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COMPANY NEWS;COURT REFUSES APPEAL ON TERMINATED PENSION PLAN

Date: 21 May 1996

Bloomberg Business News

Bloomberg News

The Supreme Court turned down an appeal yesterday from former executives of Zeneca Inc. who were seeking to revive a lawsuit regarding the termination of the company's deferred executive compensation plan. A Federal appeals court had ruled that the executives could not seek money damages, saying uncertainty about future tax rates and investment returns made it difficult, if not impossible, to calculate the impact of the termination. Zeneca, a pharmaceutical and agri-chemical unit of Zeneca Group P.L.C., ended the plan in 1991. The company, then known as ICI Americas Inc., said it did so after a hostile takeover bid raised questions about whether a buyer would have honored the underfinanced plan's obligations.

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COMPANY NEWS;ACCORD IN ORACLE'S LOW-COST NETWORK COMPUTER

Date: 21 May 1996

AP

The Oracle Corporation said yesterday that it had gained support from large high-technology companies -- including Apple Computer, I.B.M., Netscape Communications and Sun Microsystems -- for technical standards involving its planned network computer, a $500 machine that would allow customers without personal computers to surf the Internet. The so-called NC machines are expected to be available this fall. Oracle, based in Redwood City, Calif., is said not to have plans to make the NC's, but would allow other companies do so.

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COMPANY NEWS;BEC GROUP MAKES AN OFFER FOR ILC TECHNOLOGY

Date: 21 May 1996

Dow Jones

Dow Jones

BEC Group Inc., which makes Foster Grant sunglasses and electronics and lighting equipment, said yesterday that it had offered to acquire ILC Technology Inc., a maker of high-intensity lamps and other lighting equipment, for $75 million. BEC Group, based in Rye, N.Y., said the proposal called for ILC shareholders to receive two BEC Group common shares for each ILC common share. The offer values ILC, which is based in Sunnyvale, Calif., at $15 a share. ILC shares rose 12.5 cents yesterday, to $12.875, in Nasdaq trading. Shares of BEC Group fell 12.5 cents, to $6.50, on the New York Stock Exchange.

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