Der 27. September 1994 war ein Dienstag unter dem Sternzeichen ♎. Es war der 269. Tag des Jahres. Präsident der Vereinigten Staaten war William J. (Bill) Clinton.
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27th of September 1994 News
Nachrichten, wie sie auf der Titelseite der New York Times am 27. September 1994 erschienen
CHRONICLE
Date: 28 September 1994
By Nadine Brozan
Nadine Brozan
JERRY NACHMAN, a former editor of The New York Post and longtime television newsman, who left it all behind to move to New Mexico two and half years ago, is coming back. He will become vice president of news and general manager of WCBS-TV in New York. "They won't let me do the job from here, " he said yesterday from Santa Fe, explaining that he would return within two weeks after attending a hot-air balloon festival. "We had Faustian negotiations, and I had to surrender."
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So Much Yet to Do: Cuomo States His Case
Date: 28 September 1994
By Kevin Sack
Kevin Sack
By his own acknowledgment, Gov. Mario M. Cuomo has not accomplished nearly enough in his 12 years in office on a variety of issues from education to mental health. But he argues that voters should re-elect him this year because of what he has managed to achieve in the face of a divided Legislature and a feeble economy, and because his opponent would not try to complete the work he has left undone. The Governor spent five hours and 15 minutes delivering that message -- and demonstrating his endurance -- in a marathon interview with waves of reporters at The New York Times on Monday. Even for Mr. Cuomo, who has never had trouble talking at length, it was an uncommon performance.
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STOCK REPURCHASE PLAN AT SCHERING-PLOUGH
Date: 28 September 1994
By Bloomberg News
Bloomberg News
The Schering-Plough Corporation said its board had approved a plan to repurchase $500 million of its shares. The company, which produces the asthma drug Proventil and Dr. Scholl's foot products, said the plan stemmed from a strong cash position and expectations of solid earnings growth this year. Shares of the company gained $2, to $70.25, on the New York Stock Exchange. In July, Schering-Plough, based in Madison, N.J., completed a $500 million repurchase of 8.3 million common shares.
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COMMERCIAL METALS TO ACQUIRE OWEN STEEL
Date: 28 September 1994
By Bloomberg News
Bloomberg News
The Commercial Metals Company agreed yesterday to acquire the Owen Steel Company of Columbia, S.C., in a transaction valued at about $87 million. The purchase price amounts to $55 million in cash and common stock and the assumption of $32 million in Owen Steel debt. Commercial Metals, based in Dallas, said the acquisition would enable it to expand into the Southeast and Middle Atlantic States. Closely held Owen Steel reported losses for 1992 and 1993, but Commercial Metals said it expects the company to return to profitability in 1995.
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MICROSOFT ACQUIRES ALTAMIRA SOFTWARE IN STOCK DEAL
Date: 28 September 1994
By Bloomberg News
Bloomberg News
The Microsoft Corporation, the world's largest software producer, said yesterday that it had acquired the Altamira Software Corporation for an undisclosed amount of stock. Microsoft, based in Redmond, Wash., said Altamira's image composition technology and management team would strengthen its offerings for digital graphics creation products, which are used to produce multimedia documents. Altamira is based in Mill Valley, Calif.
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DIVIDEND CUT IS SEEN AS PART OF BORDEN DEAL
Date: 28 September 1994
By Bloomberg News
Bloomberg News
Borden Inc. is expected to slash its quarterly dividend to 1 cent a share from 7.5 cents, according to people familiar with plans of the company, based in Columbus, Ohio. The dividend cut was hammered out as part of the agreement to sell Borden to Kohlberg, Kravis, Roberts & Company, according to a person familiar with the agreement. The Borden board met yesterday but did not vote on the dividend, a person close to the company said. He said the vote would come next month. Borden has agreed to be acquired by Kohlberg, Kravis in a stock swap valued at $2 billion, or $14.25 a share.
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HALLMARK TO BUY REVELL-MONOGRAM FOR $29.8 MILLION
Date: 28 September 1994
By Bloomberg News
Bloomberg News
Hallmark Cards Inc., based in Kansas City, Mo., said yesterday that it would acquire Revell-Monogram Inc., a maker of plastic model kits, for $6.375 a share in cash, or about $29.8 million. Revell-Monogram will become an independent operating unit of Hallmark's Binney & Smith subsidiary, the maker of Crayola crayons, Magic Marker and Liquitex products. Holders of about 30 percent of Revell-Monogram's 4.67 million shares outstanding have already agreed to the merger at $6.375 a share, Hallmark said. The acquisition was announced after shares of Revell-Monogram climbed $1.625, to $7.375, on the American Stock Exchange, where the 28 percent gain was the biggest of the day. Revell-Monogram is based in Morton Grove, Ill.
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SHARES OF SUNGLASS HUT CLIMB AFTER ACQUISITIONS
Date: 28 September 1994
By Bloomberg News
Bloomberg News
Shares of Sunglass Hut International rose 6.4 percent yesterday after the company said that it had acquired two West Coast sunglasses chains and that it expects to add 175 stores this fiscal year. The stock gained $2.25 a share, to $37.25, in Nasdaq trading. Sunglass Hut said it had added 30 stores through the purchases of Strictly Sunglasses and Shades of California. Terms of the transactions were not disclosed. Sunglass Hut, based in Miami, has 816 stores.
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G.M.'S E.D.S. AND MOORE FORM AN ALLIANCE
Date: 27 September 1994
By Bloomberg News
Bloomberg News
Electronic Data Systems and the Moore Corporation exchanged a pair of contracts yesterday worth a total of roughly $1 billion. Under the two agreements, E.D.S., a unit of the General Motors Corporation, and Moore, based in Toronto, would form a 10-year strategic alliance that called for E.D.S. to provide computer services to Moore and its United States subsidiary to provide E.D.S. with printing services. Moore said it expected the contract to generate revenue of between $500 million and $1 billion. E.D.S. would help Moore streamline its computer operations and develop new systems. That agreement is worth between $400 million and $700 million, E.D.S. estimated.
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MARTIN MARIETTA MATERIALS TO BUY DRAVO UNIT
Date: 27 September 1994
By Bloomberg News
Bloomberg News
Martin Marietta Materials Inc. agreed yesterday to purchase the Dravo Corporation's construction aggregate materials business for between $125 million and $135 million. Under the letter of intent, Martin Marietta Materials, based in Raleigh, N.C., would acquire the Dravo unit's assets, including accounts receivable and inventories. Dravo would retain most of the liabilities and debt associated. Dravo's stock was at $11.75, down 25 cents, before trading was halted for the announcement. Trading did not resume before the market closed. Martin Marietta Materials gained 37.5 cents to close at $19.375 in trading on the New York Stock Exchange.
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SHARES OF BABY SUPERSTORE SURGE ON FIRST DAY
Date: 28 September 1994
By Bloomberg News
Bloomberg News
Shares of Baby Superstore Inc., a company whose stores are trumpeted as the Toys "R" Us of their industry, almost doubled in price on their first day of trading. The initial public offering of about 2.7 million shares was priced at $18 on Monday. The stock soared 93 percent yesterday, closing at $34.75 in Nasdaq trading, although the shares traded as high as $38 during the day. More than 3.3 million shares changed hands. Baby Superstore, based in Greenville, S.C., crams its shelves with cribs, baby strollers and other nonfood products for youngsters. It operates 41 stores in 13 states.
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COMMERCE BANCSHARES TO BUY PEOPLES MID-ILLINOIS
Date: 27 September 1994
By Bloomberg News
Bloomberg News
Commerce Bancshares Inc. agreed yesterday to acquire the Peoples Mid-Illinois Corporation for $88 million in common stock. Commerce Bancshares said it planned to acquire Peoples Mid-Illinois for 2.84 million common shares, worth $88 million at the current price of $31 a share. Commerce Bancshares' stock slipped 25 cents, to $31.25, in Nasdaq trading. Commerce Bancshares is a bank holding company based in Clayton, Mo. Peoples Mid-Illinois, based in Bloomington, Ill., is the parent of Peoples Bank in Illinois.
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