กำลังเล่นซ้ำ วันอังคารที่ 1 กันยายน ค.ศ. 1992

Quaker State Head to Retire

Date: 01 September 1992

By Bloomberg News

Bloomberg News

The Quaker State Corporation's chairman and chief executive, Jack W. Corn, said today that he would retire within a year but that Conrad A. Conrad would take over his duties immediately. Mr. Corn, 62 years old, said he would retire by October 1993 and that Mr. Conrad, the president and chief operating officer, would immediately begin overseeing the company's two lubricant-related subsidiaries, the Quaker State Oil Refining Corporation and Quaker State Minit-Lube Inc.

Full Article

NASA EXTENDS LOCKHEED'S HUBBLE TELESCOPE CONTRACT

Date: 02 September 1992

By Bloomberg News

Bloomberg News

The Lockheed Missiles and Space Company, a unit of the Lockheed Corporation, said yesterday that it had won two contracts worth a total of $267 million from the National Aeronautics and Space Administration to maintain and service the Hubble telescope.

Full Article

MONEY-LOSING COAL UNIT TO BE CLOSED BY QUAKER STATE

Date: 02 September 1992

By Bloomberg News

Bloomberg News

The Quaker State Corporation said yesterday that it was closing its troubled Shrewsbury Coal Company in West Virginia because of operational problems that made the unit a money-losing venture. The unit will be closed about Nov. 1 and all 124 employees will be laid off, Quaker State said in a statement.

Full Article

COURT APPROVES AMES DEPARTMENT STORES' CREDIT DEAL

Date: 01 September 1992

By Bloomberg News

Bloomberg News

Ames Department Stores Inc. said it had received approval for a one-year extension of its $200 million revolving-credit arrangement, to Oct. 30, 1993. The extension was approved by the United States Bankruptcy Court for the Southern District of New York. Ames filed for Chapter 11 bankruptcy protection in April 1990. The operator of discount department stores said the $200 million credit facility -- an arrangement known as debtor-in-possession financing -- would be provided by a syndicate of banks, with Chemical Bank as leading agent.

Full Article

COURT BACKS COMPENSATION PLAN FOR NEW ZALE CHAIRMAN

Date: 02 September 1992

By Bloomberg News

Bloomberg News

Bankruptcy Judge Steven Felsenthal in Dallas yesterday approved the Zale Corporation's revised plan to hire the former president of the Canadian Tire Corporation, Dean Groussman, as its chairman and chief executive. Judge Felsenthal agreed to Mr. Groussman's hiring after the bankrupt jewelry retailer trimmed the executive's yearly compensation package to $850,000 in salary and benefits. Last week, Judge Felsenthal rejected Zale's plan to pay Mr. Groussman $9.35 million in salary, severence benefits, stock options and moving expenses.

Full Article

CHOCK FULL O' NUTS IS TAKING A 4TH-QUARTER CHARGE

Date: 02 September 1992

By Bloomberg News

Bloomberg News

The Chock Full o' Nuts Corporation said yesterday that it would reduce pretax earnings by $5.5 million in the fourth quarter, which ended July 31, for the restructuring and consolidation of operations. The coffee, food service and beverage company said the charge would amount to about $3.6 million, or 36 cents a share, after taxes. The majority of the charge will be noncash, Chock Full o' Nuts said, but it did not elaborate.

Full Article

TYCO TOYS TO CLOSE A PLANT AND LAY OFF 300 WORKERS

Date: 01 September 1992

By Bloomberg News

Bloomberg News

Tyco Toys Inc. of Mount Laurel, N.J., said it would close one plant and lay off 300 employees in a consolidation of its domestic packing and distribution operations. The toy maker will close its Moorestown plant in southwestern New Jersey by the end of the year and transfer operations to Tyco's site near Portland, Ore., where all of the company's United States packing and distribution will be performed, Tyco said.

Full Article

HEWLETT-PACKARD CUTS PC PRICES AND SHOWS NEW MODEL

Date: 01 September 1992

By Bloomberg News

Bloomberg News

The Hewlett-Packard Company, the nation's third-largest computer maker, said it would cut its personal computer prices by as much as 26 percent. "The cuts are to target second- and third-tier vendors," Larry Sennett, a Hewlett-Packard spokesman, said. "We're going for the clones, not for the Compaqs and Dells," he said, referring to the Compaq Computer Corporation and the Dell Computer Corporation, two leading makers of personal computers. Hewlett-Packard also announced the availability of its new H-P Vectra 486/66U computer, which it bills as the fastest, most powerful personal computer in the industry. The price cuts apply to Hewlett-Packard's entire range of desktop personal computers based on the 386- and 486-series microprocessors, the company said. With these cuts, an advanced H-P Vectra 486U personal computer will for the first time be available for less than $1,000. "They're just adjusting to the new realities of the market," said Martin P. Ressinger, an analyst at Duff & Phelps. In New York Stock Exchange trading yesterday, Hewlett-Packard's shares closed at $23.375, up 12.5 cents.

Full Article

A G.E. JOINT VENTURE GETS $400 MILLION JET ENGINE ORDER

Date: 02 September 1992

By Bloomberg News

Bloomberg News

CFM International, a venture of the General Electric Company and Snecma of France, said yesterday that it had received a $400 million aircraft engine order from Gulf Air. Gulf Air selected CFM's CFM56-5C engines to power six Airbus Industrie A340 aircraft it ordered and another six A340's it has an option to buy, CFM said. Airbus, a European consortium, announced the order and options earlier but did not place a value on the transaction. Gulf Air is a venture of four Middle Eastern countries: Oman, Qatar, Bahrain and Abu Dhabi.

Full Article

Daily News to Seek 10 Percent Pay Cut

Date: 01 September 1992

The management of The Daily News announced yesterday that it would ask a bankruptcy judge to approve a 10 percent across-the-board wage cut on Sept. 13 if the bankrupt paper's unions cannot agree on a buyer by then. James P. Willse, the publisher of The News, said in a statement that the cut would be necessary to prevent the paper from running out of money. Mr. Willse also indicated that the threat of a wage cut is intended to break "the logjam" in finding a buyer, a process which has been frustrated by union disagreement.

Full Article