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18th of October 1994 News
Nyheter som framträdde på New York Times framsida den 18 oktober 1994
News Corp. Expecting $1 Billion
Date: 19 October 1994
By Bloomberg News
Bloomberg News
The News Corporation, the global media giant, expects to receive about $1 billion from the partial public sale of BSkyB, a calculation that would value the satellite broadcasting operation at about $8 billion, Rupert Murdoch, the company chairman, told the annual shareholders' meeting today. "Those are very rough figures," he said. The News Corporation is part of an international consortium that owns BSkyB. The consortium's sale of 20 percent of the company could occur within weeks, "certainly by January at the latest," Mr. Murdoch said.
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Of Winchell and the Power of Gossip
Date: 18 October 1994
By Michiko Kakutani
Michiko Kakutani
WINCHELL Gossip, Power and the Culture of Celebrity By Neal Gabler 681 pages. Alfred A. Knopf. $30. At the height of Walter Winchell's power in the late 1930's, some 50 million Americans -- roughly two-thirds of the adult population -- either listened to his weekly radio broadcast or read his daily newspaper column. Songs and movies were written about him. Presidents courted him. And politicians, actors and socialites alike all feared him. Although he would die a defeated and largely reviled man, Winchell presided over American mass culture for several decades, a self-appointed arbiter of power and taste, and an eerie harbinger of the culture of celebrity and gossip that would take hold in the country in the years to come.
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TIDEWATER ACQUIRING A HALLIBURTON UNIT
Date: 19 October 1994
By Bloomberg News
Bloomberg News
Tidewater Inc. agreed yesterday to buy the natural gas compression assets of the Halliburton Company for $205 million cash, more than doubling the size of its compression business. Tidewater, of New Orleans, owns and operates the world's largest fleet of vessels serving the offshore energy industry. After buying the Halliburton unit, it will own and operate the biggest fleet of natural gas and air compressors in the United States. Compressors move natural gas through pipelines.
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PHILADELPHIA INVESTMENT FIRM BUYS COMPUADD
Date: 19 October 1994
By Bloomberg News
Bloomberg News
The Compuadd Computer Corporation was acquired yesterday by Dimeling, Schreiber & Park, a closely held Philadelphia investment partnership. Compuadd Computer said the acquisition involved a "significant infusion of working capital," though it did not elaborate. The company, a maker of personal computers and retail inventory equipment, will remain in Austin, Tex. Under the agreement, a new lender will pay off the company's bank debt and provide a new credit line of up to $16 million. Compuadd filed for Chapter 11 bankruptcy protection in June 1993, and emerged late last year.
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Drugs Fail Tests; Shares Plunge
Date: 18 October 1994
By Bloomberg News
Bloomberg News
The shares of two start-up drug companies plunged today after the companies said their most important drugs had flunked human tests. Shares of the Procyte Corporation, based in Kirkland, Wash., fell $6.0625, or 68.3 percent, to close at $2.8125 in Nasdaq trading, after the company said its Iamin drug failed to outperform a placebo in healing diabetic ulcers.
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GENERAL MOTORS UNIT IN VIETNAM PHONE DEAL
Date: 19 October 1994
By Bloomberg News
Bloomberg News
The GM Hughes Electronics unit of General Motors signed a $120 million contract yesterday to supply telecommunications equipment in Vietnam. Hughes plans to supply 120,000 digital phone lines in Ho Chi Minh City by the end of 1995. Its "fixed wireless access" technology is a digital system that technically resembles a mobile cellular system. Instead of servicing portable phones or terminals, services are provided to fixed installations. Vietnam, a nation of 72 million people, had 346,934 phones in July.
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MICRON TECHNOLOGY PLANS TO BUILD NEW PLANT
Date: 19 October 1994
By Bloomberg News
Bloomberg News
Micron Technology Inc. said yesterday that it would spend $1.3 billion to build a 200-acre manufacturing complex, possibly in Boise, Idaho, where the maker of computer semiconductors is based. Construction of the plant, which eventually is to employ 3,500 people, is expected to begin within six months. It could take three to four years before the plant reaches full production and employment, the company said. The expansion would be the largest ever for Micron and would double its semiconductor manufacturing capacity in dollar terms, a company spokesman said.
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SCOTT PAPER UNIT TO EXPAND MEXICAN PLANTS
Date: 19 October 1994
By Bloomberg News
Bloomberg News
The Scott Paper Company of Philadelphia said yesterday that its board had approved plans by its Mexican affiliate to spend $148 million to expand two plants in Mexico. The plan will be financed by the affiliate, Compania Industrial de San Cristobal S.A., which is half-owned by Scott Paper. Scott, which said in August it would slash 10,500 jobs worldwide by the end of this year, said its Mexican operations would not replace jobs in the United States. Products from the plants are intended to be sold in Mexico, not the United States.
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ITT DELAYS A PLAN FOR A $750 MILLION CASINO
Date: 18 October 1994
By Bloomberg News
Bloomberg News
The ITT Corporation said yesterday that it was delaying plans to build a $750 million theme casino along the Las Vegas Strip. ITT, based in New York, said it was postponing the project, which was announced in May, because it needed time to complete design plans. It did not say how long the project would be delayed. But ITT said it would spend $85 million in the next 18 months to renovate its Sheraton Desert Inn casino and hotel in Las Vegas. The company acquired the 820-room Desert Inn from the financier Kirk Kerkorian for $160 million last fall. The new resort, to be built next to the Desert Inn, will be called the Desert Kingdom.
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TEXAS INSTRUMENTS OFFERS JAPAN STAFF RETIREMENT
Date: 19 October 1994
By Bloomberg News
Bloomberg News
Texas Instruments Inc. is offering early retirement to workers at its Japanese chip-making factories as part of a plan to cut costs. The Dallas-based electronics company notified workers at its Miho and Hiji plants of the program several weeks ago, a spokesman, Buddy Price, said. The company expects to report an undetermined charge in the fourth quarter for costs associated with the program, according to filings yesterday with the Securities and Exchange Commission. Mr. Price said the company did not know how many of its 5,000 employees in Japan would accept the offer. In most cases, Texas Instruments expects to replace the workers with automated manufacturing processes.
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