TRIAL IN SINGAPORE TESTS PRESS CURBS
Date: 05 December 1993
By Philip Shenon
Philip Shenon
There was unexpected bad news for Singapore investors in the summer of 1992, when Government figures showed that economic growth was sluggish, at least by the standards of this booming Southeast Asian city-state. A year later, the news may be far worse for the newspaper editors who dared to run an exclusive article citing the Government's numbers. Their exclusive may send them, and their sources, to prison.
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ELECTION COVERAGE IS VARIED IN RUSSIA
Date: 05 December 1993
By Serge Schmemann
Serge Schmemann
It's been two weeks since Pravda disappeared from print, this time for failing to pay its bills, but even declared Communists are not bemoaning its absence too loudly. True, the venerable daily founded by Lenin himself in 1912 was probably the only major Russian newspaper to openly support the Communist Party in the campaign for a new Parliament, but then there was never any doubt how its readers would vote, anyway.
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Reporter Disciplined for Reading His Co-workers' Electronic Mail
Date: 06 December 1993
By Calvin Sims
Calvin Sims
In a stunning example of growing concern over technology and privacy in the workplace, The Los Angeles Times has recalled a foreign correspondent from its Moscow bureau for snooping into the electronic mail of his colleagues. The correspondent, Michael Hiltzik, a well-regarded journalist who joined The Times's Moscow bureau in August, is being reassigned to an undetermined position in Los Angeles as a disciplinary action, editors and reporters at the newspaper said.
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Tokyo Stocks Fall Sharply
Date: 06 December 1993
By Bloomberg News
Bloomberg News
Stocks tumbled here today, as weekend reports that the Government would delay a economic stimulus plan had traders concerned about the state of Japan's fragile economy. The Nikkei index of 225 issues closed down 618.97 points, or 3.55 percent, at 16,840.38. The Nikkei had managed to stay above the 17,000 mark since Wednesday.
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Gardening News
Date: 05 December 1993
Cuttings, the weekly gardening column, has moved to this section. Today, page 63.
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NEWS SUMMARY
Date: 05 December 1993
International 3-29 MULTICULTURE? FRANCE SAYS NO In a dispute over head coverings worn by Muslim schoolgirls in France, the eight-month-old Government signaled that it would no longer tolerate multiculturalism. 1 The French may know more about the Holocaust than others do. 14
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NEWS SUMMARY
Date: 06 December 1993
International A3-10 PLAN TO AVERT U.S. MISSILES The Pentagon has drafted a plan to aim United States nuclear missiles at the open seas and is talking with Russian generals about a possible joint move to turn missiles away from their cold war targets. A1
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Television
Date: 06 December 1993
By Elizabeth Kolbert
Elizabeth Kolbert
IT is said that winning isn't everything. But try telling that to a television network. Last week, when the November sweep came to an end, the broadcast networks practically tripped over one another in their rush to proclaim victory. In news conferences Thursday, each offered a set of select statistics intended to show how it had triumphed while its rivals had stumbled. Together, they offered more spin than a Tilt-a-Whirl.
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Times Mirrors Family Ties Fade
Date: 06 December 1993
By William Glaberson
William Glaberson
Management changes announced last week at the Times Mirror Company accelerated an evolution that is changing one of the largest family-dominated media empires in the country. The company's president, David Laventhol, said he was stepping down and two senior vice presidents were given new responsibilities and titles in what was widely seen as the start of a competition over who will succeed the company's chairman, Robert F. Erburu, who is 63 and is expected to retire in two years.
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Business Diary: November 26 - December 3
Date: 05 December 1993
By Hubert B. Herring
Hubert
THE ECONOMY If the Numbers Don't Lie, America's Going Back to Work Is it as good news as it seems that the nation's unemployment rate plunged from 6.8 percent to 6.4 percent in November? Skeptics were quick to say that for complicated statistical reasons, the progress reported by the Labor Department last week was almost surely overstated, and financial markets shrugged it off. But with any kind of faith, what you see is a stunning number -- the biggest improvement in a decade, and a compelling sign that this on-again, off-again economy is at last performing its most basic function: creating jobs. Employers added jobs from California to Florida to New York, and most places in between -- and they were more likely to be full-time jobs, too. As those of you with jobs well know, companies have been putting off hiring and leaning on existing workers, uncertain about things like medical costs, but this news may show that they just couldn't hold out any longer. An Economy on a Spree It's more than jobs. The economic engine keeps gaining speed as it barrels toward that year-end blowout -- which long ago, rumor has it, was some sort of religious celebration. But once Christmas is past, will the vigor survive? Economists are cautious. Last week, though, the numbers were strong: income, construction spending, and factory orders all up, the purchasing managers' index showing the fastest growth since last winter. There were some blips: new-home sales were off, but that followed a surge the month before, so housing still looks good. And retail sales rose just slightly -- but of course any shoppers worth their credit cards would not dream of going wild till it's almost Christmas. Tired of Waiting for S.& L. Job It's clearly liberating to be nominated for a Government job and then decide it isn't worth jumping through all the hoops. Stanley Tate, named in July to head the Resolution Trust Corporation, but still awaiting a confirmation hearing, didn't mince words last week when he called it quits. "Washington," he said, "is a vicious city, with all kinds of hidden agendas. It is a city full of rumors, allegations and accusations." And why did his nomination die? Because he's a Republican? Because Bill Clinton didn't back him fully? Or because there was something to the "serious questions" that Donald Riegle, Senate Banking chairman, had about Mr. Tate? Mr. Tate's version: bureaucrats were afraid he'd root out mismanagement. Whatever the reason, Mr. Tate, a Florida developer, said he felt "disposable and dispensable." And the bailout agency just keeps on drifting. Mending Hubble, Mending NASA If NASA were a corporation, it would long since have become an obscure Wal-Mart subsidiary. It's made one cosmic gaffe after another: the Challenger disaster, the flawed Hubble Space Telescope, the apparent kidnapping of the Mars Observer by little green spacepersons. It's no understatement to say, as one space expert did last week, "NASA can't afford another highly visible failure." So the pressure's on the astronauts on the shuttle Endeavour, which lifted off on Thursday. The astronauts' mission: to fix Hubble in mid-space, essentially by putting a pair of eyeglasses on it. If they succeed, secrets of the universe could snap into focus; if they fail, the focus will be on NASA's jugular. But as one Hubble scientist put it, "This is not like going to Grandma's to fix a leaky faucet." OPEC, Where Is Thy Sting? Twenty years ago, OPEC seemed sure to strangle America with ever-higher oil prices. But last week it was clear just how times had changed. After slipping all year, oil prices plunged to a five-year low after OPEC failed to agree to cut output. So gasoline, steadily cheaper in 1973 dollars, seems likely to get cheaper still, which would help the economy. But everything has a cost, and cheaper gas means auto makers are less likely to put their efforts into making more efficient cars. Victor Posner Is Out of Play It was an unusual penalty, but the judge said the scope of the violations justified it. Saying they "have had a long and notorious history of engaging in self-dealing and corporate waste," a Federal judge last week banned Victor Posner and his son, Steven, from serving as officers or directors of any public company. The order came in a civil suit brought by the S.E.C. as part of a broader case against Michael Milken and Ivan Boesky, and it involved charges that the Posners made secret stock deals with Mr. Boesky. In light of past abuses, the judge said, another warning "would serve little purpose." COMPANIES Paying a Price for Family Values Family values. So simple a term, yet so laden with subtext. On the surface, it means apple pie, caring, a cozy hearth; but it can also be a code phrase for excluding, condemning, even denying the existence of anything but cookie-cutter Americans. Normally, to cry "family values" is just free speech, but in Texas last week, the price was high. Apple Computer planned to build an $80 million office complex north of Austin, creating 1,500 jobs. But county officials rejected a $750,000 tax abatement, citing Apple's policy of granting health benefits to employees' unmarried partners, and Apple took its blueprints and hit the road. Sony's Pain, And the World's In 1946, in a bombed-out Tokyo department store, a young man named Akio Morita helped found the Sony Corporation. Since then, as both Sony and Japan grew mighty, Mr. Morita became, in one American's words, the world's "leading Japanese business statesman." So it is symbolic that as Japan's phenomenal half-century shows distinct wear and tear, Sony's chairman falters. Last week Mr. Morita, 72, underwent brain surgery, and he may have to retire. That would be bad news for Sony, where, even removed from day-to-day operations, he remained the "psychological backbone." And it would be bad news abroad, for Mr. Morita has played a leading role in smoothing trade tensions with America. Volvo Vants to Be Alone The planned Volvo-Renault merger created serious friction at Volvo. Many executives wanted to back out, loath to let Sweden lose one of its corporate stars. But the chairman, Pehr Gyllenhammar, stuck to the plan, seeing strength in having a European partner. Last week Mr. Gyllenhammar lost his fight: The merger was called off, and he quickly resigned, saying that Volvo's managers had "turned their backs on Europe." Job Cuts: A Weekly Ritual It almost stops being news, squarely in a class with "Dog Bites Man." Another week, and more corporate giants cut thousands of jobs. Last week was no exception. A. T.& T. may cut as many as 4,500 jobs as the long-distance wars take their toll. And airline woes continue to seep through to Boeing, which will cut production, meaning a loss of up to 3,000 jobs. Even the beer industry is pulling in its belly, as Miller said it would close a plant in upstate New York, eliminating 900 jobs. G.M. Downsizes Its Data Saturated with economic numbers? Good news: Detroit is going to spare you some. Much as eager-beaver pundits crave the latest word, General Motors decided last week that 10-day sales reports were overkill and would scrap them in January; Ford will probably follow suit. Chrysler went to monthly figures a couple of years ago, but then some helpful souls started estimating 10-day sales. While some analysts found the figures useful, most were relieved. "About time," said one. INTERNATIONAL Again, Hope for World Trade Your eyes glaze over at the words "Uruguay Round"? You're forgiven: these trade talks have long since taken on a Dickensian dimension. Begun seven years ago to lower tariffs worldwide, the talks have hit more snags than "Bleak House" has characters. But yet again last week the tireless negotiators, including Mickey Kantor of the United States, cried, "Breakthrough!" One snag has been French objections to cutting farm subsidies, but a resolution may be at hand. If there is an accord, it could do much for the world economy. But that's still a big "if." Trade progress is possible, though: last week Canada's new Prime Minister, Jean Chretien, dropped his opposition to Nafta. The pact now goes into effect on Jan. 1, and the vigil will begin to see which side was right about jobs. Tokyo Sweet-Talks the Market All the Japanese stock market was waiting for, it seems, were some rosy words from the Government; last week it got them. Stock prices had been sliding for weeks. But after the Government finally promised to do what it could, the Nikkei index surged more than 4 percent in a day, then 2 percent the next. Prices are still depressed, though, and they are likely to stay that way until Government actions follow words. "Jawboning," one analyst said, "won't work for too long."
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