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15th of May 1995 News
Nachrichten, wie sie auf der Titelseite der New York Times am 15. Mai 1995 erschienen
INFORMATION TECHNOLOGY: Information by the Gallon; As Desktop Video Approaches, Is the Office Ready?
Date: 15 May 1995
By Laurence Zuckerman
Laurence Zuckerman
On Chase Manhattan Bank's new trading floor in Manhattan, the desk of Paul G. Farrell, managing director of foreign exchange trading, is an information arsenal. There's a two-foot-wide telephone console; a microphone and video camera for communicating with other traders on the vast floor, and an array of five video monitors for, among many other things, Chase's interoffice E-mail, real-time prices on dozens of currencies, text from four news wires and the cable television channels CNBC and Cable News Network.
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THE MEDIA BUSINESS: Television; A castoff show may come back to haunt CBS from its lofty new perch on NBC's schedule.
Date: 15 May 1995
By Bill Carter
Bill Carter
FOR Andy Hill, these are days of highly mixed emotions. On the one hand, he is elated because as president of CBS Entertainment Productions he will see a show developed by his company placed in a promising position on the fall television schedule, a position where it stands an excellent chance of becoming, as he puts it, "a monster hit." On the other hand, Mr. Hill is feeling "some real awkwardness." If the show, a half-hour comedy called "Caroline in the City," does become the success Mr. Hill expects, CBS -- which needs hit comedies like the Titanic needed lifeboats -- will not be the beneficiary of its hearty ratings. NBC will.
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Abidjan Journal; No More Paternalism. But Public Executions?
Date: 15 May 1995
By Howard W. French
Howard French
Shattering a stillness that had been interrupted only by the scratchy strains of a Bob Marley tune echoing from a distant bar, the Ivoirian police moved into the sprawling, moonlit maze of shacks that bordered a truck stop to make their latest strike against crime. With their automatic weapons at the ready, shouting as they went, the officers had managed within minutes to rouse everyone from sleeping cargo loaders and mechanics to the women who serve them breakfast in their ramshackle cafes at dawn.
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INGERSOLL-RAND SELLS PAVING EQUIPMENT BUSINESS
Date: 16 May 1995
By Bloomberg News
Bloomberg News
The Ingersoll- Rand Company said yesterday that it had sold its domestic paving equipment business for an undisclosed amount, in hope that the transaction would clear the way for its acquisition of the Clark Equipment Company. Ingersoll-Rand, based in Woodcliff Lake, N.J., sold the business, based in Shippensburg, Pa., to Champion Road Machinery Ltd. of Canada. The sale could eliminate antitrust concerns about its $1.5 billion offer for Clark, based in South Bend, Ind., which makes highway paving equipment through its Blaw-Knox group.
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NORWEST TO BUY FOOTHILL GROUP IN STOCK SWAP
Date: 16 May 1995
By Bloomberg News
Bloomberg News
The Norwest Corporation agreed yesterday to buy Foothill Group Inc., a commercial finance company based in Los Angeles, for about $441 million in stock. Norwest, a banking company based in Minneapolis, said the purchase would help provide $5 million to $50 million loans for companies that do not meet traditional credit standards. Under the agreement, Norwest plans to issue 16.4 million shares of common stock. Each common share of Foothill would be exchanged for 0.920 share of Norwest. Each preferred share of Foothill would be exchanged for 6.1333272 shares of Norwest common. Based on Norwest's closing price of $28.125 yesterday, down 12.5 cents, Foothill's shares are valued at $25.875 each. Foothill closed at $23,875, up 50 cents, before the deal was announced.
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DIGITAL TO OFFER 'CRADLE-TO-GRAVE' PC SERVICE
Date: 16 May 1995
By Bloomberg News
Bloomberg News
The Digital Equipment Corporation said yesterday that it would begin offering a flat-fee "cradle-to-grave" service for personal computers that includes software, system upgrades and maintenance. The plan, called PC Utility, was scheduled to be introduced today. For a monthly fee of from $100 to $400, Digital would assume total responsibility. The company said the service was a way for corporations to reduce the costs associated with owning PCs. The Gartner Group, a consulting firm based in Stamford, Conn., estimated that the cost of owning a PC for five years more than doubled to almost $41,000 in 1993 from $19,000 in 1987. Bott Ikeler, a Digital spokesman, said of the company's plan, "It allows a customer to have Digital purchase the PC's for them, maintain, upgrade and take care of training," for a lower overall cost.
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RITE AID SELLS ITS AUTO PARTS STORES FOR $66 MILLION
Date: 16 May 1995
By Bloomberg News
Bloomberg News
The Rite Aid Corporation said yesterday that it had sold its ADAP Inc. specialty automotive parts retail unit to an investment group led by Falcon Capital Inc. for about $66 million. Rite Aid, based in Camp Hill, Pa., a drugstore chain operator, said the transaction occurred Friday. The sale of the unit was the final part of Rite Aid's plan, announced in January, to focus on its drugstore business. Rite Aid had previously sold its Sera-Tec Biologicals, Encore Books and Concord Custom Cleaners businesses.
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A Dutch Deal Would Create Trading Giant
Date: 16 May 1995
By Bloomberg News
Bloomberg News
A big Dutch trading company, Hagemeyer N.V., announced an agreement in principle today to buy a Dutch rival, Borsumij Wehry N.V., in a stock deal worth as much as $468 million. The deal would create one of the world's five largest trading companies, with annual revenue of roughly $5 billion. The two companies distribute and sell automotive, electronics, consumer and professional brand-name products.
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International Briefs; Astra Profits Jump 55%; Ulcer Drug Sales Cited
Date: 16 May 1995
By Bloomberg News
Bloomberg News
The Swedish drug maker Astra A.B. posted a higher-than-expected 55 percent rise in first-quarter pretax profit, propelled by surging sales of gastrointestinal drugs in the United States and Europe. Pretax earnings rose to 3.1 billion kronor, or $419 million, in the quarter that ended on March 31, compared with 2 billion kronor a year earlier.
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Pacific Telesis Sees 10% Drop in Earnings
Date: 16 May 1995
By Bloomberg News
Bloomberg News
Stung by lower rates and a falling market share of local toll calls in California, Pacific Telesis Group said today that it expected its 1995 earnings to fall about 10 percent. "We're taking every prudent step possible to minimize the earnings decline, but the combination of new competition and outmoded regulation makes that very difficult," said Phil Quigley, chairman and chief executive of the regional phone company based in San Francisco.
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