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Date: 13 November 1986
By Eric Schmitt
Eric Schmitt
Senior executives at Pandick Inc., a financial printer in Wall Street's backyard, offered yesterday to acquire the company for about $250 million. The offer comes as a crush of mergers, acquisitions and stock offerings has kept financial printers operating at full capacity, churning out proxies, filing statements and other corporate documents. But the printers have also had to struggle with increased competition.
Date: 13 November 1986
By Peter J. Boyer
Peter Boyer
When the decision was made to move ABC's ''World News Tonight'' out of its customary time period on the network's flagship station, Channel 7 (WABC), to make way for a game show, the first consideration at ABC News was whether to fight the move. After scrutinizing research suggesting that the move wouldn't necessarily hurt the news program's ratings, the news division decided not to argue the decision. ''But even if we had,'' said Peter Jennings, the ''World News Tonight'' anchor, ''there was no doubt in my mind that it was the local station's call.'' The planned move next month of ''World News Tonight'' to 6:30 from the more widely viewed 7 P.M. slot, and especially the fact that it was the local station's call, signals another significant development in the continuing shift of power and influence away from the networks.
Date: 13 November 1986
The World The C.I.A. was directly involved in the arms shipments to Iran, the Reagan Administration said for the first time. A spokesman said the National Security Council ran the operation with the C.I.A. Page 1 Both parties continued to criticize President Reagan's defense of negotiating and sending equipment to Iran. The President's chief of staff said he believed the operation would not be resumed. 5 Iran's President denied his Government had held any diplomatic talks with the United States. Hojatolislam Ali Khamenei vowed there would be no leniency toward Washington until it changed its Middle East policy.
Date: 14 November 1986
The World The President defended contacts with Iran and vigorously denied he had sought to exchange weapons for American hostages in Lebanon. Mr. Reagan, speaking in a defensive tone, made a televised speech. Page A1 Reagan policy condemned A1 The secret U.S.-Iran talks began more than a year ago, when a consultant to the National Security Council met an Iranian expatriate businessman, according to Reagan Administration officials. A9 U.S. dealings with Iran have snarled several Justice Department prosecutions involving plots to smuggle arms to Iran, both sides said. A9 U.S. and Iranian officials met two weeks ago in The Hague to discuss the return of nearly $500 million in overpayments made by Iran to settle bank claims in the 1979-81 hostage crisis, Treasury officials said.
Date: 13 November 1986
The World The President acknowledged sending military supplies to Iran and said, in meeting with Congressional leaders, it was necessary for establishing ties to moderates there, Administration officials said. Page A1 Hostage takers in Lebanon are mainly concerned with serving Iranian interests, as well as seeking the release of 17 militants held in Kuwait, Arab diplomats say. A14 An Iranian leader denied that Teheran was involved in trading American hostages for military equipment it is receiving from Washington, but said Iran would welcome better ties with Washington. A14 Iran arms deal angers Arabs A12 Iraq continues air raid on Iran A13 A U.N. rights report fails to include documentation of widespread torture and executions carried out by Iran, according to Western diplomats, human-rights activists and Iranian opposition groups.
Date: 14 November 1986
AP
The Federal Communications Commission approved the sale of nine of the Metromedia Broadcasting Corporation's major-market radio stations.
Date: 13 November 1986
Special to the New York Times
The Lomas & Nettleton Financial Corporation, one of the largest mortgage bankers in the country, said it would buy the Union Life Insurance Company of Little Rock, Ark., for $52.5 million.
Date: 13 November 1986
AP
The Phelps Dodge Corporation, the nation's largest copper producer, said it would move its corporate headquarters from New York to Phoenix by May 1987. Phelps Dodge's president, G. Robert Durham, said the move was intended to make the company's management more efficient. Phelps Dodge currently has regional headquarters in Phoenix, employing about 150 people. Mr. Durham said Phelps Dodge either would place on early retirement or lay off all but about a dozen of its approximately 100 employees in New York and would hire replacements in Phoenix.
Date: 13 November 1986
Special to the New York Times
The Minneapolis-based investor Irwin L. Jacobs confirmed that he had raised his stake in the Borg-Warner Corporation to 7.4 percent, or 6.46 million shares, from 6.1 percent. In a filing with the Securities and Exchange Commission, Mr. Jacobs did not amend his previous statement that he might seek control of the Chicago-based diversified manufacturer.
Date: 13 November 1986
Reuters
Britoil, the privatized British oil and gas conglomerate, said it was putting up for sale its American assets, bought three years ago for $157 million.