Der 17. November 1994 war ein Donnerstag unter dem Sternzeichen ♏. Es war der 320. Tag des Jahres. Präsident der Vereinigten Staaten war William J. (Bill) Clinton.
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17th of November 1994 News
Nachrichten, wie sie auf der Titelseite der New York Times am 17. November 1994 erschienen
Man in the News; The Victor (Again): Bonn's Long-Distance Runner -- Helmut Kohl
Date: 17 November 1994
By Craig R. Whitney
Craig Whitney
The narrow confirmation of Chancellor Helmut Kohl as head of the German Government with one vote to spare in Parliament on Tuesday put him one step closer to his goal of holding power longer than Konrad Adenauer, his mentor and Germany's first postwar leader, did -- 14 years. Mr. Kohl still has two years to go to beat that record. Whether his shaky coalition Government can hold together for a full four-year term has been the subject of intense speculation since its heavy losses in the Oct. 16 national elections, but Mr. Kohl, a trained historian who remembers that Adenauer's first election in 1949 was also by a bare majority, says he has no doubts.
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Mort Pye Is Retiring as Editor Of Star-Ledger after 31 Years
Date: 17 November 1994
By Jon Nordheimer
Jon Nordheimer
Mort Pye, editor of The Star-Ledger of Newark, New Jersey's largest daily newspaper in circulation, will retire at the end of the year, the paper announced yesterday. He will be succeeded by James P. Willse, former editor and publisher of The Daily News. Mr. Pye, 76, has had one of the longest runs in the nation as a top editor of a major daily newspaper, arriving in the newsroom at The Star-Ledger in 1957 as managing editor and holding the post of editor since 1963.
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INVESTOR GROUP ACQUIRES STAKE IN EGGHEAD
Date: 18 November 1994
By Bloomberg News
Bloomberg News
An investment group led by David A. Rocker has acquired 5 percent of the common shares of Egghead Inc., a computer software retailer. The investor group now holds 860,200 shares, according to a filing yesterday with the Securities and Exchange Commission. The group was made up of Rocker Partners L.P. of New York, Compass Holdings Ltd., and Centennial Partners I L.P. Mr. Rocker is sole managing partner of Rocker Partners and investment adviser to Compass and Centennial. The group bought the shares at prices from $7.13 to $8.50. Yesterday in Nasdaq trading, Egghead's shares fell 12.5 cents, to $9.0625. Egghead, of Issaquah, Wash., operates about 205 computer software retail stores.
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HAYES MICROCOMPUTER SEEKS BANKRUPTCY PROTECTION
Date: 17 November 1994
By Bloomberg News
Bloomberg News
Hayes Microcomputer Products Inc., a privately held maker of computer modems and communications software, said yesterday that it had filed for Chapter 11 bankruptcy protection. Hayes, based in Atlanta, said the filing would not affect the company's ability to meet its production schedule and product delivery commitments. The company, which produces Hayes and Practical Peripheral modems, cited a "short-term cash crunch brought on primarily by operating problems brought on by dramatic increases in demand for its products." Hayes, which reported revenues of $250 million in the fiscal year that ended on Sept. 30, said current revenues and unit sales were running at record highs.
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ATARI STOCK RISES AS DEAL WITH SEGA IS COMPLETED
Date: 17 November 1994
By Bloomberg News
Bloomberg News
The stock of the Atari Corporation rose 11 percent yesterday after the video game company said Sega Enterprises Ltd., the Japanese video game giant, had received regulatory approval to make a $90 million investment in Atari. The transaction was completed later in the day. In an agreement announced in September, Sega will pay Atari $50 million in exchange for a license from Atari covering the use of the company's patents. Atari, based in Sunnyvale, Calif., also received a $40 million equity investment. The companies will also license each other's video games until 2001. Atari's shares rose 56.25 cents, to $5.50, on the American Stock Exchange.
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GRR BID FOR GROUND ROUND APPEARS IN JEOPARDY
Date: 17 November 1994
By Bloomberg News
Bloomberg News
The planned acquisition of Ground Round Restaurants Inc. by the GRR Acquisition Corporation appeared to be in jeopardy yesterday after GRR disclosed that it had not been able to raise financing for the deal. GRR offered to buy Ground Round, a restaurant chain based in Braintree, Mass., in late August for $9 a share, or $160 million. Ground Round, which operates more than 200 restaurants, said it would give GRR an extra month to obtain the money needed to complete the transaction. GRR, a unit of 399 Ventures Inc., an affiliate of Citicorp, now has until Jan. 31 to line up financing. The stock of Ground Round fell $1.375, to $7, in Nasdaq trading, where its 16 percent decline was among the worst of the day.
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CELTRIX TO CUT STAFF AFTER UNSUCCESSFUL DRUG TEST
Date: 17 November 1994
By Bloomberg News
Bloomberg News
Celtrix Pharmaceuticals Inc. will cut a third of its staff after the company's most advanced drug failed a crucial test. Celtrix said the work force reduction to 100 from 150 was part of a program of cost cuts that would allow the company to survive on existing cash reserves for "at least the next two years." The program will reduce the company's annual operating costs by $8 million, to $13.5 million, Dale A. Stringfellow, president and chief executive, said. In late October, Celtrix, a biotechnology company based in Santa Clara, Calif., said its eye drug Betakine had failed to outperform a placebo in the final stage of testing required for approval from the Food and Drug Administration.
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PETRIE STORES SAYS I.R.S. CLEARS ITS STOCK SWAP PLAN
Date: 18 November 1994
By Bloomberg News
Bloomberg News
The Petrie Stores Corporation said yesterday that the Internal Revenue Service had ruled that a proposed exchange by Petrie of about 39.9 million Toys "R" Us shares and cash for new Toys "R" Us shares would be a tax-free transaction. Petrie, a Secaucus, N.J., operator of moderate- price women's apparel stores, plans to distribute the new Toys "R" Us shares to its shareholders upon its liquidation. A shareholder vote on the plan is set for Dec. 6.
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MORGAN STANLEY GROUP INC. (MS,N)
Date: 17 November 1994
By Bloomberg News
Bloomberg News
The Morgan Stanley Group Inc. said yesterday that earnings in its third quarter fell 35 percent, as fees from investment banking and trading declined amid Wall Street's worst slump in four years. Morgan Stanley, the nation's fourth-largest securities firm, said earnings in the quarter, which ended Oct. 31, fell to $118 million, or $1.30 a share. The results were below the $1.35 to $1.55 a share forecast of analysts polled by Institutional Brokers Estimate System.
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Olympia & York Transfers
Date: 17 November 1994
By Bloomberg News
Bloomberg News
The Olympia & York Companies U.S.A. said yesterday that it would transfer interests in three Manhattan buildings to the Canadian Imperial Bank of Commerce to settle more than $325 million of debt. Olympia & York, a financially troubled real estate developer that is a unit of the bankrupt Olympia & York Development Ltd. of Toronto, said the agreement to wipe out the secured mortgage debt was part of a pre-negotiated Chapter 11 bankruptcy proceeding that began on Tuesday.
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