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4th of October 1995 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 4 Οκτωβρίου 1995
THE POPE'S VISIT: THE PRESS;Reporters Strain to See Big Picture, Vital Detail
Date: 05 October 1995
By Douglas Martin
Douglas Martin
A reporter from a small Catholic newspaper worried that his photo ID so little resembled him that he would be barred from papal events. A photographer from Bologna, Italy, demanded credentials to the choice picture-taking areas not allowed by her pass. A columnist for The Toronto Star strongly suggested posting notices to lay out the tight logistics of covering events for which reporters are required to arrive three hours or more in advance. "Tell us clearly what you can and can't cover," said Stephen Handelman, the Toronto columnist. "That's the sort of stuff we need to know."
Full Article
Judge Affirms Right to Halt Publication
Date: 04 October 1995
By William Glaberson
William Glaberson
Setting the stage for a battle in the Federal appeals courts on First Amendment issues, a Federal judge in Ohio formally ruled yesterday that he had the power to prevent Business Week magazine from publishing an article. First Amendment lawyers said that if the ruling was affirmed on appeal, it would sharply change the law and permit courts to prevent publication of articles in circumstances never before contemplated in the American legal system.
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AMR AGREES TO CONTRACT WITH BAGGAGE HANDLERS
Date: 05 October 1995
By Bloomberg News
Bloomberg News
The AMR Corporation said yesterday that it had reached a tentative contract agreement last week with baggage handlers, who voted down a six-year contract in late September. The contract must be ratified by about 14,000 baggage handlers and ramp workers, who voted against the contract because of concerns about seniority. The ratification vote is scheduled for later this month. The contract is part of a plan by AMR to cut $1 billion in expenses. The remaining 13,000 Transport Workers Union members ratified the contract. "We did reach what we felt was a satisfactory conclusion," said Ed Koziatek, chief negotiator for the Transport Workers Union.
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HEINZ ANNOUNCES TEMPORARY PRODUCTION CUTS
Date: 05 October 1995
By Bloomberg News
Bloomberg News
The H. J. Heinz Company said yesterday that it would curtail production temporarily at five United States food-processing plants and furlough some workers under a plan to pare costs and reduce inventories. About 400 of the 700 hourly workers at its Pittsburgh plant would be idled for 10 weeks over six months, starting at the end of November, said Deb Magness, a spokeswoman for Heinz. There would be sporadic shutdowns in production of baby food and soup at the plant through April. Ms. Magness said temporary production shutdowns were also planned at four seasonal plants: a ketchup plant in Tracey, Calif.; a gravy and ketchup factory in Muscatine, Iowa; a pickle plant in Holland, Mich., and a condiments and ketchup plant in Fremont, Ohio.
Full Article
GE CAPITAL REALTY ACQUIRES MACFARLANE PARTNERS
Date: 04 October 1995
By Bloomberg News
Bloomberg News
GE Capital Realty Group Inc. said yesterday that it had agreed to buy MacFarlane Partners L.P., the nation's largest minority-owned provider of real estate services. Terms of the purchase, which is expected to be completed by the end of November, were not disclosed. MacFarlane Partners, based in San Francisco, advises public, corporate and private pension plans on their real estate investments. It has $1.8 billion in assets under management. GE Capital, a unit of the General Electric Company based in Dallas, said the MacFarlane management team would remain in place.
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CSS INDUSTRIES TO BUY UNIT OF GIBSON GREETINGS
Date: 04 October 1995
By Bloomberg News
Bloomberg News
CSS Industries signed an agreement yesterday to buy Cleo Inc., the gift-wrap unit of Gibson Greetings Inc., for about $128.5 million in cash and short-term notes. CSS Industries, a maker of printed paper products based in Philadelphia, said the purchase price was substantially below Cleo's net book value. CSS Industries said it expected to complete the deal by Nov. 15. Cleo, based in Memphis, had revenue of $189 million and a pretax loss of $37 million last year.
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TRAVELERS GROUP PREDICTS GAIN IN FOURTH QUARTER
Date: 04 October 1995
By Bloomberg News
Bloomberg News
Travelers Group Inc. said yesterday that it expected a gain of $100 million in the fourth quarter from the sale of its stake in the Metrahealth Companies. Separately, Travelers and another insurer, the Metropolitan Life Insurance Company, said they had completed the sale of Metrahealth to the United Healthcare Corporation for $1.65 billion. Travelers, based in New York, and Metropolitan Life each owned 48.25 percent of Metrahealth, a managed care company based in Greenwich, Conn. Travelers received $831 million in cash from the sale, which was announced in June, and has an option to receive as much as $169 million more if earnings goals are reached. Metropolitan Life will receive $796 million in cash and stock from the sale of its stake and as much as $169 million in each of the next three years.
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USAIR CHIEF TO DELAY RETIREMENT DURING TALKS
Date: 05 October 1995
By Bloomberg News
Bloomberg News
USAir Group Inc. said yesterday that Seth E. Schofield would remain chief executive and chairman until the company concluded talks with the AMR Corporation and the UAL Corporation, the nation's two largest airline companies. Earlier this week, USAir said the three companies were discussing possible combinations. Mr. Schofield announced in early September that he intended to retire after 38 years at USAir. Mathias DeVito, the USAir director who headed the search committee for a new chief executive, said the committee had suspended its search.
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CIRCLE K EXTENDS OFFER FOR NATIONAL CONVENIENCE
Date: 05 October 1995
By Bloomberg News
Bloomberg News
The Circle K Corporation said yesterday that it had extended until Nov. 1 its tender offer for National Convenience Stores Inc., which is less than National Convenience's current market value. Circle K, based in Phoenix, has offered to pay National Convenience shareholders $20 a share and $2.25 a warrant. National Convenience shares closed unchanged at $23.75 yesterday, and the warrants were unchanged at $6. So far, about 2 percent of National Convenience's shares outstanding have been tendered since Sept. 7, Circle K said. Executives of National Convenience, based in Houston, could not be reached for comment. The company rejected a buyout offer from Circle K last month.
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FINAL PRICE SET FOR SALE OF AMERICAN MAIZE-PRODUCTS
Date: 04 October 1995
By Bloomberg News
Bloomberg News
Eridania Beghin-Say S.A. of France will pay $441.7 million for the American Maize-Products Company under the final version of an agreement reached in July, American Maize-Products said yesterday. Eridania said earlier that it would pay $430 million, or $40 a share, though the company said that price might not include all payments to holders of stock options. A proxy filed with the Securities and Exchange Commission calls for a final shareholder vote on Nov. 6 on the sale of American Maize-Products, a tobacco and corn products company based in Stamford, Conn. The deal will give Eridania, the largest starch maker in Europe, access to the United States starch market, which is the world's largest.
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