NEWS SUMMARY
Date: 31 May 1989
INTERNATIONAL A3-15 An elaborate NATO compromise was unveiled. It meets Bonn's call for negotiations with Moscow on short-range missiles but appears to rule out the elimination of such weapons from the NATO's arsenal. Page A1
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Tapes by Gold Star
Date: 31 May 1989
AP
The Gold Star Company will produce videotapes at its electronics plant in Huntsville, Ala., beginning in September. Officials said production facilities capable of turning out a million tapes a year are being installed at the plant, which has been operating since 1982.
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QFB to Buy Propane Unit
Date: 31 May 1989
Special to The New York Times
QFB Partners, a new partnership formed by Quantum Chemical Corporation and CS First Boston Inc., has agreed to buy Petrolane Inc.'s propane gas business, the second largest in the country, for $845 million.
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Isosceles Sweetens Offer for Gateway
Date: 31 May 1989
AP
Isosceles P.L.C., a group of dissatisfied British institutional shareholders in the Gateway Corporation, raised its hostile bid for the British food retailer to $:1.87 billion, or $2.9 billion, but Gateway quickly rejected the offer. The sweetened offer gave Gateway holders a choice between 210 pence, or $3.30, a share in cash or 195 pence, or $3.06, in cash and at least 15 pence, about 24 cents, worth of Isosceles stock. The original cash offer was made on April 18, totaling $:1.7 billion, or about $2.7 billion, or 195 pence, about $3.06, a share.
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Newmark & Lewis To Reduce Prices
Date: 31 May 1989
Newmark & Lewis Inc., the 47-store appliance and electronics chain based in Hicksville, L.I., announced a new pricing policy in which its products would be cut in price by 5 percent to 20 percent. The prices will take effect on June 1 in all stores in New York, Connecticut and Massachusetts.
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MIM to Vote Stake For Oak Dissidents
Date: 31 May 1989
Special to The New York Times
MIM Ltd., the British investment firm that is the largest shareholder in Oak Industries, said it would vote its 24.9 percent stake in favor of the dissident group waging a proxy fight for control of the San Diego-based manufacturer of electronic communications equipment. The group is led by Roderick H. Hills, the former chairman of the Securities and Exchange Commission, and it is seeking to replace five of Oak Industries' eight directors. The remaining directors are MIM Ltd. representatives.
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Excerpts From the President's Speech and News Conference
Date: 31 May 1989
AP
Following are excerpts from President Bush's news conference today at the conclusion of the NATO summit meeting: OPENING STATEMENT
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Dunkin' Donuts Board Backs Plan
Date: 31 May 1989
Reuters
Dunkin' Donuts Inc. said its board had approved a plan to repurchase 1.4 million shares. The company also plans to sell 28,000 shares of a new series of cumulative convertible preferred stock to the General Electric Company's GE Capital Corporation unit for $28 million. Proceeds from the preferred stock sale will be used to repurchase the common shares.
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Mary Kay Executive Is Rebuffed by Avon
Date: 31 May 1989
By Michael Freitag
Michael Freitag
Avon Products Inc. yesterday rebuffed an executive at Mary Kay Cosmetics Inc. who expressed interest last week in acquiring the direct-selling cosmetics company.
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