กำลังเล่นซ้ำ วันเสาร์ที่ 25 มิถุนายน ค.ศ. 1994

TALKING ABOUT THE MEDIA CIRCUS

Date: 26 June 1994

ANNA QUINDLEN

Anna QUINDLEN

The news bomb: in the last few years, the sheer amount of news disseminated to the public has exploded. In 1979, C-Span began broadcasting gavel-to-gavel proceedings in the House of Representatives. A year later, the Iran hostage crisis prompted ABC to start its new "Nightline" news discussion program and CNN began its startling growth into a global news service. Then the networks started cloning their versions of "60 Minutes" and "20/20." This past television season, there were 600 minutes of prime-time news magazine programs on the major networks each week. And that doesn't include tabloid TV shows like "Hard Copy." The explosive growth in news outlets has loosed an equally explosive growth in the appetite for news, or "news" product. More than appetite; ravenous hunger. As Nicholas von Hoffman once wrote of the press: "Butchers make sausage. Newspapers make public affairs." Has that hunger driven the media out of control?

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Clinton Calls Show to Assail Press, Falwell and Limbaugh

Date: 25 June 1994

By Douglas Jehl

Douglas Jehl

President Clinton dialed into a radio call-in program from Air Force One today and unleashed an unusually bitter 23-minute attack on the press, the Rev. Jerry Falwell, conservative radio talk show hosts in general and Rush Limbaugh in particular. Mr. Clinton, who won election a year and a half ago in part through his mastery of talk radio and television, portrayed the nation's airwaves as being filled with a "constant, unremitting drumbeat of negativism and cynicism."

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ALSO INSIDE

Date: 26 June 1994

MAKING IT WORK 3 Marla Rivera must deal with demon taxis, squawking horns, testy passengers. So why is this woman smiling? NEW YORKERS & CO. 4 Intermission on Broadway. The theater doors open. The crowd flows onto the street. The performance begins.

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SHARES IN WESTCOTT COMMUNICATIONS TUMBLE

Date: 25 June 1994

By Bloomberg News

Bloomberg News

Shares of Westcott Communications Inc. traded as much as 41 percent lower yesterday after the company said second-quarter earnings would fail to match estimates. The company, based in Carrollton, Tex., made its projection based on a loss of $850,000 at its Electronic Classroom operation, its newest product. Westcott, the second most heavily traded stock, closed down $3 yesterday, at $8.50, on volume of 6.6 million shares. It traded as low as $6.75 earlier in the day. The company's shares traded as high as $24 in early March. Westcott offers educational and training services over eight satellite television networks. The company said it expected second-quarter revenue of about $22 million, up from $16.7 million a year earlier.

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SOUP MAKER TO SHRINK TO TWO WORLDWIDE DIVISIONS

Date: 25 June 1994

By Bloomberg News

Bloomberg News

The Campbell Soup Company said yesterday that it would shrink to two worldwide divisions from three. The company currently operates in three major divisions: biscuit and bakery, international specialty foods and global soups. Under the reorganization, it will operate a bakery and confectionery division and an international grocery division. Campbell said its new bakery and confectionery division included its Pepperidge Farm, Arnotts and Delacre biscuit operations, Godiva Chocolatier and Continental Sweets confectionery businesses in the United States and Europe. The new international grocery division includes all of Campbell's soup, beverage, frozen food and other food businesses outside the United States.

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Kidder Given $550 Million in New Capital

Date: 25 June 1994

By Bloomberg News

Bloomberg News

Kidder, Peabody & Company has received $550 million in new capital since April to bolster its finances, Tony Zehnder, a spokesman at Kidder, said yesterday. The 129-year-old securities firm received $200 million from the finance unit of the General Electric Company, its parent company, Mr. Zehnder said. It also received $350 million from its holding company, Kidder, Peabody Group Inc., which borrowed the money from banks, he said.

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BB&T FINANCIAL TO ADD COMMERCE BANK IN VIRGINIA

Date: 25 June 1994

By Bloomberg News

Bloomberg News

The BB&T Financial Corporation said yesterday that it planned to buy Commerce Bank for $109 million in stock, in a bid to enter the Virginia banking market. BB&T said Commerce Bank's 21 offices in the state would create a "strong base" to build a network of branches in Virginia. BB&T would pay 1.305 shares of its stock for each of Virginia Beach-based Commerce Bank's 2.73 million shares outstanding. That values the transaction at $109 million based on BB&T's share closing price of $30.625, down 62.5 cents, yesterday. Commerce Bank was up $4, at $36.50, yesterday.

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BALCHEM GETS PART OF ALLIED SIGNAL STERILANT BUSINESS

Date: 25 June 1994

By Bloomberg News

Bloomberg News

The Balchem Corporation said yesterday that it had purchased a part of Allied Signal Inc.'s sterilant gas business for an undisclosed amount. Balchem acquired Allied Signal's drummed 100 percent ethylene oxide blending and packaging business. Health care providers and medical device makers use drummed ethylene oxide to sterilize medical devices. Balchem's stock closed up 75 cents, at $9.25, in Nasdaq trading yesterday. Allied Signal will continue to develop and commercialize fluorocarbon/EO sterilants to replace chlorofluorocarbon/EO. CFC's are being phased out because they deplete the earth's ozone layer.

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SHARES IN TENNECO'S CASE UNIT TRADE AT $19 EACH

Date: 25 June 1994

By Bloomberg News

Bloomberg News

Shares of the Case Corporation, Tenneco Inc.'s farm and construction equipment unit, began trading yesterday at $19 and ended the day at the same price after almost 2.7 million shares had traded. It was the fifth-most-active issue on the New York Stock Exchange. The 17.5 million shares offered for sale represent a 25 percent stake in Case, with Tenneco retaining the remaining 75 percent. Tenneco has not ruled out selling more than 50 percent of Case stock this year if the market improves. Tenneco will use $333 million in proceeds from the initial public offering to reduce borrowing and invest in faster-growing areas of its natural gas, auto parts, packaging and chemical businesses.

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JURY DEADLOCKED ON COUNTS AGAINST PHAR-MOR HEAD

Date: 25 June 1994

By Bloomberg News

Bloomberg News

A jury has deadlocked on all 126 counts against Michael Monus, the ousted president of Phar-Mor Inc., on charges that he looted millions of dollars from the discount drugstore chain he founded. The 10 women and 2 men on the United States District Court jury said on Thursday that they could not agree fully on any of the counts, Gerald Messerman, a defense lawyer, said. Federal District Judge George White then dismissed the jury. Mr. Monus faced 115 counts of money laundering, four counts of wire fraud, two counts each of bank fraud, mail fraud and filing false income tax returns and one count of conspiracy.

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