Den 13 maj 1993 var en torsdag under stjärntecknet ♉. Det var 132 e dagen i året. Förenta staternas president var William J. (Bill) Clinton.
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13th of May 1993 News
Nyheter som framträdde på New York Times framsida den 13 maj 1993
PEPSICO UNIT ACQUIRING BOTTLER IN THE NORTHWEST
Date: 14 May 1993
By Bloomberg News
Bloomberg News
Pepsi-Cola North America has signed a letter of intent to buy the Alpac Corporation of Seattle, the second-largest independent Pepsi bottler in the nation, the companies said yesterday. Pepsi-Cola already owns 15 percent of Alpac and did not disclose how much it would pay for the remainder. The unit of Pepsico Inc. owns 52 percent of Pepsi's American bottling operations. Alpac, which was founded as the Alaska Pacific Salmon Company but is no longer in that business, is largely owned by the founder's descendants. The bottler had 1992 sales of $300 million.
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SATELLITE TECHNOLOGY MANAGEMENT UNDER INVESTIGATION
Date: 13 May 1993
By Bloomberg News
Bloomberg News
The share price of Satellite Technology Management Inc. fell 18.1 percent yesterday after the company said it was being investigated by the Commerce Department in connection with exports of its high-technology products. The department has obtained a Federal court order granting access to records concerning export of the company's small, satellite-based communications systems, the company said. Shares of the company fell $1.625, to $7.375, in Nasdaq trading.
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Energy Investors Sue Prudential
Date: 14 May 1993
By Bloomberg News
Bloomberg News
Two lawyers for thousands of Prudential Securities investors are challenging the firm's handling of bids for its soured energy partnerships. The lawyers said Prudential had decided to sell its oil and gas partnerships to the Parker & Parsley Petroleum Company on Monday, though it had received a potentially higher offer from the Louis Dreyfus Natural Gas Corporation last Friday.
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DIME SAVINGS BANK COMPLETES RIGHTS OFFERING
Date: 13 May 1993
By Bloomberg News
Bloomberg News
Dime Savings Bank of New York said yesterday that it had completed a $193 million rights offering and expects to meet its June 30 capital targets. The company said it had issued about 33.1 million new shares for $6 each, to meet capital ratios set by the Office of Thrift Supervision last year. Under the terms of the offering, shareholders received 1.1 rights for each share of stock owned on the April 15 record date. The bank expects to complete the issuance of all shares by May 20.
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F.T.C. SUES SNELLING & SNELLING OVER EARNINGS CLAIMS
Date: 14 May 1993
By Bloomberg News
Bloomberg News
The Federal Trade Commission filed a suit yesterday against Snelling & Snelling Inc. claiming that the temporary personnel company provided false and misleading earnings estimates to franchisees. The lawsuit, filed in Federal District Court in Dallas, says Snelling violated F.T.C. regulations by overstating the potential profit for franchisees and by failing to provide them with documents supporting its profit claims.
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DEAL WITH A.T.& T. LIFTS SPECTRUM INFORMATION STOCK
Date: 13 May 1993
By Bloomberg News
Bloomberg News
Shares of Spectrum Information Technologies Inc. jumped 10.5 percent yesterday in heavy trading after the Dallas-based company licensed patents for transmitting computer data over cellular telephones to the American Telephone and Telegraph Company. Spectrum said on Tuesday that A.T.& T. had agreed to license its cellular telephone patents and take an option to invest more than $10 million in the company. With nearly 8.5 million shares traded, Spectrum was the most active issue yesterday. The stock closed up 50 cents, at $5.25, in Nasdaq trading.
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SAGASCO MAKES HOSTILE BID FOR MAGELLAN PETROLEUM
Date: 13 May 1993
By Bloomberg News
Bloomberg News
Shares of the Magellan Petroleum Corporation jumped yesterday after Sagasco Holdings Ltd. said it was making a hostile bid to buy the company for $37 million. Arthur B. O'Donnell, vice president of Magellan Petroleum, based in Hartford, said the company's board would meet to discuss the plan. Sagasco, of Adelaide, South Australia, has offered $1.50 a share for the 24.4 million shares Magellan Petroleum has outstanding, according to the plan filed with the Securities and Exchange Commission. Magellan Petroleum shares rose 43.75 cents, to $1.375, on the Pacific Stock Exchange.
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TIME WARNER BUYS 50% STAKE IN FIBER OPTICS MAKER
Date: 14 May 1993
By Bloomberg News
Bloomberg News
Time Warner Inc. said yesterday that it had bought a 50 percent stake in Metrocomm, a Columbus, Ohio, maker of fiber optic networks. The New York giant has made several similar investments in recent years. "Fiber optics enable us to get into new businesses that offer us some potential revenue," said Mike Luftman, a Time Warner spokesman. Fiber optic wiring paves the way for a wide range of entertainment, information and security services to be offered by telephone.
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GRUMMAN FAILS TO REVERSE DATA GENERAL'S COURT AWARD
Date: 14 May 1993
By Bloomberg News
Bloomberg News
The Data General Corporation said a Federal judge had rejected the motion by the Grumman Corporation to overturn or reduce a $52.3 million judgment against it for infringing Data General's diagnostic software. Judge Jay Skinner also ruled that Grumman must pay legal fees for Data General, which the company said exceeded $5 million.
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OWENS-ILLINOIS SELLING STAKE IN TV PARTS COMPANY
Date: 13 May 1993
By Bloomberg News
Bloomberg News
Owens-Illinois Inc. has agreed in principle to sell its stake in a company that produces television glass parts to its venture partner, the Nippon Electric Glass Company of Japan, for $100 million. Owens-Illinois would still play a role in the management of OI-NEG TV Products Inc. and would continue to be represented on its board. Owens-Illinois, based in Toledo, Ohio, has earmarked the sale's proceeds to reduce debt and for general corporate purposes.
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AMERICAN INTERNATIONAL GROUP SETS 3-FOR-2 STOCK SPLIT
Date: 13 May 1993
By Bloomberg News
Bloomberg News
American International Group Inc. said yesterday that it planned a 3-for-2 split of its common stock, which will be paid to shareholders as a 50 percent stock dividend. The dividend will be payable July 30 to shareholders of record July 2. The insurer also declared a quarterly cash dividend on the new shares of 10 cents. The new dividend rate represents a 7.1 percent increase. Shares of American International, the nation's largest underwriter of commercial and industrial insurance, closed yesterday unchanged at $129.25 on the New York Stock Exchange.
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