Το 31 Αυγούστου 1994 ήταν Τετάρτη κάτω από το σύμβολο του αστεριού του ♍. Ήταν η 242 ημέρα του χρόνου. Πρόεδρος των Ηνωμένων Πολιτειών ήταν ο William J. (Bill) Clinton.
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31st of August 1994 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 31 Αυγούστου 1994
COMPANY NEWS;
Date: 01 September 1994
By Bloomberg News
Bloomberg News
The Boston Scientific Corporation, based in Watertown, Mass., said yesterday that it would buy Cardiovascular Imaging Systems Inc., a maker of catheters used to diagnose cardiovascular disease, for $10.50 a share, or about $100 million. The price represents a 53 percent premium over Cardiovascular's closing stock price yesterday of $6.875. The shares, which were unchanged yesterday, have not traded higher than $9 in the last year. Cardiovascular, based in Sunnyvale, Calif., had sales of $8.1 million in 1993. Boston Scientific, a maker of medical devices, had sales last year of $380.1 million. The acquisition, which is subject to approval by Cardiovascular's holders, "will permit the acceleration of research and development of ultrasound imaging technology," Boston Scientific said in a statement.
Full Article
Castle Cutting German Ties
Date: 01 September 1994
By Bloomberg News
Bloomberg News
The Castle Energy Corporation will sever ties with its German parent, Metallgesellschaft A.G., early next year under a plan that erases contracts guaranteeing Castle high profits on all of the oil it sells. For its part, Metallgesellschaft will return its 43 percent stake in Castle, an American refiner, and cancel about $375 million in Castle debt.
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LILLY REALIGNS U.S. PHARMACEUTICAL DIVISION
Date: 01 September 1994
By Bloomberg News
Bloomberg News
Eli Lilly & Company said yesterday that it had reorganized its United States pharmaceutical division, forming a disease management unit and decentralizing sales and marketing functions. Integrated Disease Management Inc. will offer disease management systems in the areas of diabetes, depression and ulcer and respiratory diseases. On Nov. 1, United States sales and marketing will be divided into eight geographic areas.
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BRADLEES SAYS CHIEF EXECUTIVE WILL RESIGN
Date: 01 September 1994
By Bloomberg News
Bloomberg News
Bradlees Inc., based in Braintree, Mass., said yesterday that Barry A. Berman would resign as its chairman and chief executive as soon as the company finds a replacement with more merchandising experience. Mr. Berman, who has experience in the supermarket industry, will remain with the company after a new chief executive arrives. Berman's replacement will decide his new position, a company spokeswoman said. On Tuesday, Herbert P. Douglas, Bradlees' executive vice president of merchandising, said he would leave to become president and chief executive of the Jamesway Corporation. Bradlees, which operates 127 discount department stores, also said it expected to report on Sept. 13 a "modest profit" for the second quarter, in line with analysts' estimates. It had a loss of 44 cents a share, including a 19-cent-a-share charge, in the period a year earlier.
Full Article
MERIDIAN BANCORP TO ACQUIRE UNITED COUNTIES BANCORP
Date: 31 August 1994
By Bloomberg News
Bloomberg News
Meridian Bancorp Inc. signed a letter of intent yesterday to acquire the 36-branch United Counties Bancorp of Cranford, N.J., in a stock swap valued at $376 million. The acquisition of United Counties, a banking company with $1.7 billion in assets, will more than double Meridian's presence in New Jersey to $2.3 billion in assets and 74 branches. Meridian, based in Reading, Pa., has $15.2 billion in assets and 333 branches in eastern Pennsylvania, southern New Jersey and Delaware. Under the transaction, each share of United Counties will be exchanged for 5.25 shares of Meridian. The transaction values shares of United Counties at $171.94 each. In Nasdaq trading yesterday, shares of United Counties rose $1.50, to $105.50, and shares of Meridian fell 25 cents, to $32.75.
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VOLKSWAGEN TO REDUCE 1995 PASSAT PRICES BY 10%
Date: 31 August 1994
By Bloomberg News
Bloomberg News
Volkswagen United States Inc. said yesterday that its 1995 Passat cars would cost about 10 percent less than the 1994 model. The company also said it was dropping the sporty Corrado from its United States lineup because of slow sales. Officials for the United States marketer of the German auto maker, at a new-model preview in California, said the price of the 1995 Passat would start at $20,890 for the GLX sedan and $21,320 for the wagon.
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COTT STOCK FALLS ON RESIGNATION PLAN OF PRESIDENT
Date: 31 August 1994
By Bloomberg News
Bloomberg News
Shares of the Cott Corporation, a maker of private-label soft drinks in Toronto, fell yesterday after the company's president, Heather Reisman, said she would resign on Oct. 1. She will be replaced by David A. Nichol, former president of Loblaw International Merchants, a unit of the Loblaw Companies of Toronto. Shares of Cott fell 50 cents, to $11.625, in Nasdaq trading. Ms. Reisman, who has been president of Cott for two years, said in a statement, "The time has come to carve a path of my own design."
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HEXCEL SHARES JUMP ON DEAL WITH NORTHROP GRUMMAN
Date: 01 September 1994
By Bloomberg News
Bloomberg News
The Hexcel Corporation said yesterday that it would sell its B-2 Stealth bomber materials business to the Northrop Grumman Corporation, maker of the B-2. Hexcel, based in Pleasanton, Calif., would sell its EMT Technology unit, which makes electromagnetically tailored materials intended to be difficult to detect on radar, for $30 million in cash. EMT is based in Chandler, Ariz. Hexcel shares jumped $1, to $4.625, on the New York Stock Exchange.
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INITIAL PUBLIC OFFERING PLANNED FOR OFFICEMAX SHARES
Date: 01 September 1994
By Bloomberg News
Bloomberg News
The Kmart Corporation, following through on a pledge to shed its specialty chains and focus on its core discount business, plans to sell 42.5 percent of the Officemax unit in a stock offering that could bring nearly $450 million. Kmart filed for the initial public offering with the Securities and Exchange Commission yesterday. Kmart said it expected a "maximum offering price" of $19 a share for the 23.4 million shares in the public offering. Officemax, an office-products chain of 337 stores, is the first of three units for which Kmart has promised to sell majority stakes. The Kmart board voted on Aug. 16 to sell the chains after pressure from shareholders. Next in line for a public offering is the Sports Authority, which sells sporting goods. A Kmart spokesman, Ronald Pauli, said that filing could come within weeks.
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COLUMBIA GAS REJECTS REVAMPING PLAN BY BUYOUT FIRM
Date: 31 August 1994
By Bloomberg News
Bloomberg News
Columbia Gas System Inc. said yesterday that an unsolicited Chapter 11 reorganization plan from the buyout firm Dimeling, Schreiber & Park was unacceptable because it would dilute shareholders' equity. Columbia Gas said the Delaware bankruptcy court had found that the buyout firm was not financially qualified to become a bidder for its Columbia Gas Transmission Corporation unit.
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