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12th of October 1995 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 12 Οκτωβρίου 1995
Simpson Cancels TV Interview, But Talks of Life Since Verdict
Date: 12 October 1995
By Bill Carter
Bill Carter
In his first detailed interview since his acquittal on murder charges last week, O. J. Simpson said yesterday that he had pulled out of a television interview with NBC News, scheduled for last night, because his lawyers had convinced him that answering questions about the case might make it more difficult to defend himself against civil suits that he still faces. Mr. Simpson, who said he had worried as well that the network was preparing for a prosecution-like interrogation of him, described his life and emotions in the eight days since he was declared not guilty in a Los Angeles courtroom. And he spoke of his current financial status, his relationship with his two young children and the state of his public image.
Full Article
Mayor Is Sued Over Weekly
Date: 12 October 1995
By Terry Pristin
Terry Pristin
The American Civil Liberties Union of New Jersey filed a suit yesterday in Federal Court accusing the Mayor of Elizabeth of confiscating and destroying copies of a local newspaper and asking that he be forced to stop.
Full Article
MANITOWOC WITHDRAWS BID FOR SHANNON GROUP
Date: 12 October 1995
By Bloomberg News
Bloomberg News
The Manitowoc Company said yesterday that it had ended its attempt to buy the Shannon Group Inc., a privately held maker of commercial refrigerators, freezers and related products. The transaction was valued at more than $100 million. Manitowoc, based in Manitowoc, Wis., which makes cranes and related products, said it could not agree on terms with Shannon. Affiliates of Trivest Inc., a private investment firm, own a majority stake in Shannon.
Full Article
FORD INCREASES ITS DIVIDEND BY 13%
Date: 13 October 1995
By Bloomberg News
Bloomberg News
The Ford Motor Company announced yesterday that it had raised its quarterly dividend and that it would buy back $2 billion of preferred stock. The dividend was raised 13 percent, to 35 cents a share from 31 cents, giving it the highest stock yield of the Big Three auto makers. The company also said it planned to put two nonautomotive financial units up for sale. The auto maker said it was considering selling all of the USL Capital Corporation and a stake in the Associates Corporation of North America. The two commercial finance and leasing companies have total assets of $48 billion. The buyback plan would save $130 million in dividends, Ford said. Ford's share price gained $1.875 yesterday, to $31.875, on volume of 7.8 million shares.
Full Article
DISPLEASURE AMONG ARCHER-DANIELS SHAREHOLDERS
Date: 13 October 1995
By Bloomberg News
Bloomberg News
Some large Archer-Daniels-Midland Company shareholders will vote against directors at next week's annual meeting, saying the board has not responded appropriately to a widening federal criminal investigation. New Jersey already sent in a proxy voting its 6 million shares against re-electing the 17 directors at the Oct. 19 meeting because "they haven't done their duty," said Roland Machold, director ofthe state's division of investment. The New York City Comptroller, Alan Hevesi, recommended yesterday that the city's funds, which hold 2.8 million shares, do the same. A final vote on that will come Monday.
Full Article
KERR GROUP CONSIDERS SALE AS IT PREDICTS LOSSES
Date: 12 October 1995
By Bloomberg News
Bloomberg News
Kerr Group Inc. said yesterday that it was expecting a third-quarter loss and was considering selling some or all of the company. The container company said it had hired Lehman Brothers Inc. to review ways to increase shareholder value amid consolidation in the packaging industry. The company said it was expecting losses in the third quarter and full year. The company's stock rose $1.625, to $8.125. Its 23 percent gain was the best of the day on the New York Stock Exchange. Kerr Group operates a plastics and consumer products division. It manufactures child-resistant and tampering-evident seals, jars and plastic parts for the pharmaceutical, food, cosmetics and household chemicals markets.
Full Article
VIACOM TO TEST PHONE SERVICE ON CABLE SYSTEM
Date: 12 October 1995
By Bloomberg News
Bloomberg News
Viacom Cable, a unit of Viacom Inc., said yesterday that it would test a system to route phone calls through cable television lines to residences in Castro Valley, Calif., just east of San Francisco. The trial is scheduled to begin on Jan. 1, 1996, and follows the company's filing last month to become a competitive local telephone carrier. The test of the system will the first for Viacom. Tele-Communications Inc. and Time Warner Inc. are already conducting tests of cable delivery of phone services. Viacom Cable controls about 50 percent of the cable business in the San Francisco Bay area and has more than 600,000 cable subscribers throughout the state.
Full Article
UUNET OFFERS TO BUY INTERNET ACCESS PROVIDER
Date: 12 October 1995
By Bloomberg News
Bloomberg News
The shares of Uunet Technologies Inc. rose yesterday after it offered Monday night to buy Unipalm Group P.L.C., Europe's largest Internet access provider, in a $154 million stock swap. Uunet shares rose $1.875 to close at $40.875 in Nasdaq trading. Uunet, which provides Internet access to the Microsoft Network users, offered to acquire Unipalm after two months of negotiations. Under the offer, which has been recommended by Unipalm's board, Uunet said it would exchange 0.1671 share of its common stock for each ordinary share of Unipalm, valuing each Unipalm share at $6.83.
Full Article
SPS OFFERS TO BUY HI-SHEAR FOR $50 MILLION
Date: 13 October 1995
By Bloomberg News
Bloomberg News
SPS Technologies Inc. offered yesterday to buy Hi-Shear Industries for $50 million, bettering a bid that the unprofitable company agreed to last week with GFI Industries S.A. SPS, a fastener maker, said it topped GFI's $46 million offer because Hi-Shear would give it some attractive proprietary properties. SPS did not announce a per-share price for its offer, but Hi-Shear has reported it has almost 5.9 million shares outstanding, giving the offer an indicated value of about $8.50 a share. The stock closed yesterday at $7.375, up 62.5 cents a share.
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FIRST FINANCIAL CHIEF TO GET BIG SEVERANCE PACKAGE
Date: 12 October 1995
By Bloomberg News
Bloomberg News
The chairman and chief executive of the First Financial Management Corporation, Patrick H. Thomas, 52, would receive a severance package valued at $117.9 million, if First Financial is taken over by the First Data Corporation, according to a recent filing with the Securities and Exchange Commission. The package includes a $20.7 million cash payment, 594,500 shares of restricted stock worth about $57.8 million and $39.43 million to pay the excise taxes on those amounts. First Data executives would run the combined company after the merger. Mr. Thomas's severance package is subject to shareholder approval of the merger. First Financial, based in Atlanta, is one of the largest processors of credit card transactions.
Full Article