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21st of May 1996 News
Nyheter som framträdde på New York Times framsida den 21 maj 1996
Safir Backed in Reporter's Ouster
Date: 22 May 1996
By David Kocieniewski
David Kocieniewski
Faced with a flurry of criticism from news organizations, Mayor Rudolph W. Giuliani yesterday reaffirmed his commissioners' right to exclude individual reporters from group news briefings if their coverage was deemed too critical. The controversy began May 9, when a police reporter for The Daily News, John G. Marzulli, was banned from a press briefing with Police Commissioner Howard Safir because an article that morning had angered the Commissioner. In the article, Mr. Marzulli repeated a former police commander's widely quoted criticism that Mr. Safir was "a lightweight."
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NEWS SUMMARY
Date: 22 May 1996
International A3-9
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NEWS SUMMARY
Date: 21 May 1996
International A3-10
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COMPANY NEWS;NEWS OF A STOCK SPLIT SENDS SHARES OF ZOLTEK HIGHER
Date: 22 May 1996
Bloomberg Business News
Bloomberg News
The shares of the Zoltek Companies rose 9 percent yesterday after the company said it would split its stock for the second time in a year. Shares of the maker of carbon fiber climbed $7.25, to $84, after rising $2.25 on Monday. The 2-for-1 split would be payable on June 17 to holders of record on June 3. Last July, Zoltek, which is based in St. Louis, split its shares 3 for 2. Lightweight carbon fibers are used to reinforce materials in industrial products like airplane brake pads. Analysts predicted that carbon fibers would be used increasingly in consumer products like fishing rods and golf-club shafts as production and selling costs fall through new technology.
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COMPANY NEWS;CHARTER COMMUNICATIONS TO ACQUIRE OVERLOOK
Date: 22 May 1996
Bloomberg Business News
Bloomberg News
Charter Communications International Inc. agreed yesterday to buy Overlook Communications International Inc., a closely held long-distance provider, for about 40 percent of its stock, worth about $55 million. The merger would give Overlook access to the Latin American market through Charter's satellite links and would allow Charter to expand its domestic Internet-access business to Atlanta, said David Olson, chairman and chief executive of Charter. Charter's shares jumped $2.75, to $9.25, in Nasdaq trading. The shares, 92 percent of which are held by insiders, have risen from a low of 37.5 cents in December, when Mr. Olson and other investors activated the shell company by purchasing an Internet service provider. Overlook buys long-distance service in bulk.
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COMPANY NEWS;ANOTHER ACQUISITION FOR REPUBLIC INDUSTRIES
Date: 21 May 1996
Dow Jones
Dow Jones
Republic Industries said yesterday that it planned to buy Continental Waste Industries of Clark, N.J., in a transaction valued about $240 million. Under the deal, Continental shareholders are to get two-fifths of a Republic share for each share held. Republic, a provider of solid waste and electronic security services that is based in Fort Lauderdale, Fla., has been aggressively making acquisitions since August 1995, when H. Wayne Huizenga invested $27 million in the company and became its chief executive. Its shares rose $3.25, to $43.875, in Nasdaq trading; Continental's shares rose $2.875, to $16.25.
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COMPANY NEWS;APPLE NAMES LANDI AS EXECUTIVE VICE PRESIDENT
Date: 22 May 1996
Bloomberg Business News
Bloomberg News
Apple Computer Inc. yesterday named Marco Landi, an Apple executive in Europe, to the post of executive vice president and chief operating officer. Mr. Landi, 52, is currently president of Apple Computer Europe, Middle East and Africa. He plans to assume his new position on June 1, overseeing four newly formed product divisions, worldwide sales, marketing and manufacturing operations. Analysts said Mr. Landi would be a welcome addition to the management team because of his solid reputation in Europe and his familiarity with the company and its woes.
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COMPANY NEWS;A CONSORTIUM AND HOUSTON INDUSTRIES BUY LIGHT
Date: 22 May 1996
Reuters
Houston Industries said yesterday that it and an international consortium of investors paid $2 billion for a majority interest in Light, the electricity distribution system serving Rio de Janeiro, in a privatization by the Brazilian Government. Other members of the consortium include Electricite de France; the AES Corporation of Arlington, Va.; the CSN Brazilian industrial group, and Bndes, a major Brazilian financial institution.
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COMPANY NEWS;SONAT DRILLING SWEETENS OFFER FOR TRANSOCEAN
Date: 21 May 1996
Reuters
Sonat Offshore Drilling Inc. has virtually locked up an acquisition of Transocean A.S. of Norway by raising its bid and winning support from Transocean's largest shareholder, the Tiger Management Corporation, analysts said yesterday. Sonat, a Houston-based drilling company, increased its offer to 0.53 share of its stock, for each share of Transocean. At Sonat's current stock price, the offer is worth about $27.83 for each Transocean share. The previous offer had been valued about $27.08 a share in cash and stock. Based on yesterday's closing stock prices, the revised Sonat offer values Transocean at $1.43 billion. A rival offer, from the Reading & Bates Corporation, another Houston-based drilling company, values Transocean at $1.49 billion. A spokesman for Reading & Bates could not be reached for comment.
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COMPANY NEWS;REPUBLIC ENVIRONMENTAL TO SELL A MAJORITY STAKE
Date: 21 May 1996
Dow Jones
Dow Jones
Republic Environmental Systems Inc. said yesterday that it had agreed to sell a majority stake to the Alliance Holding Corporation, which is to contribute its Century Surety Group in exchange for 7.5 million new Republic common shares and options to buy 2.1 million more. Republic's chief executive, Michael G. DeGroote, and H. Wayne Huizenga will each invest $5.25 million, receiving one million newly issued common shares apiece and options to buy up to three million more. Republic, a waste cleanup company in Blue Bell, Pa., said it would move its headquarters to Cleveland, where Century is based. Alliance Holding is controlled by a group that includes Joseph E. LoConti, a director of Republic. Mr. Huizenga, chief executive of Republic Industries, does not currently have a stake in Republic Environmental, which was spun off by Republic Industries last year. Republic Environmental shares rose $5.375 yesterday, to $10, in Nasdaq trading.
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