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18th of July 1994 News
Nyheter som framträdde på New York Times framsida den 18 juli 1994
THE MEDIA BUSINESS: Press; His Daily News career cut short, Earl Caldwell sees a disturbing racial divide in journalism.
Date: 18 July 1994
By William Glaberson
William Glaberson
IT has been three months since Earl Caldwell, who was once one of the country's better-known black journalists, either resigned or was dismissed from his job as a columnist at The Daily News. And even he seems not quite sure how to explain what happened. "There was a time I had nothing but affection for people in the news business," he said over lunch the other day. "But everything has become so racial now. It has put people in hard places."
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Abroad at Home; Where Power Lies
Date: 18 July 1994
By Anthony Lewis
Anthony Lewis
When Robert B. Fiske Jr., the independent counsel on Whitewater, reported that there was nothing to the horror stories about the death of Vincent Foster, that Mr. Foster had indeed committed suicide, I expected that those who had spread the stories would be called to account. The Rev. Pat Robertson, for example, the leader of the Christian coalition, had luridly suggested that Mr. Foster, deputy White House counsel, was murdered and the crime covered up by the Clinton Administration. Rush Limbaugh, the talk-show host, broadcast a report that Mr. Foster died in an Administration "safe house" and his body was then spirited to the park where it was found.
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AMOCO EXPECTED TO ANNOUNCE PLANS FOR REORGANIZATION
Date: 19 July 1994
By Bloomberg News
Bloomberg News
The chairman of the Amoco Corporation, H. Laurance Fuller, is planning a news conference on Thursday to announce a reorganization plan involving layoffs and savings of millions of dollars in operating costs. The stock of Amoco, the nation's fifth-largest oil company, rose yesterday for the sixth-consecutive session as investors anticipated higher earnings from the layoffs and cost-cutting efforts. The company's shares gained 25 cents, reaching a new high of $60.875 on the New York Stock Exchange.
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BIOMET TO ACQUIRE KIRSCHNER MEDICAL FOR $37 MILLION
Date: 19 July 1994
By Bloomberg News
Bloomberg News
The Kirschner Medical Corporation has signed an agreement to be acquired by Biomet Inc. for about $37 million, the companies said yesterday. Biomet's offer of $10.75 a share in cash or an equivalent amount in common stock followed earlier bids by Maxxim Medical Inc. and Orthomet Inc. Biomet, based in Warsaw, Ind., makes orthopedic implants and supports. Kirschner, based in Timonium, Md., produces replacement shoulder joints and similar products. The deal could increase Biomet's annual revenue by more than 17 percent. Biomet's shares were unchanged at $9.75 in Nasdaq trading, while Kirschner's shares fell 12.5 cents, to $10.375.
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FORD INVESTING $555 MILLION AT INDIANAPOLIS PLANT
Date: 19 July 1994
By Bloomberg News
Bloomberg News
The Ford Motor Company is investing $555 million to upgrade manufacturing processes at its Indianapolis plant, which produces steering parts for all Ford, Lincoln and Mercury cars and trucks, the company said yesterday. The investment, to be completed by 1997, also calls for the No. 2 auto maker to add about 75 jobs to the plant next year as it increases production of parts for Ford's European operations. The plant currently has about 3,200 workers. Ford also announced plans to add 75 jobs at its transmission plant in Batavia, Ohio, as part of an effort to increase output there by 38 percent in the next two years. Ford shares rose 25 cents, to $31.875, on the New York Stock Exchange.
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BRISTOL-MYERS SEEKS PURCHASE OF FRENCH DRUG COMPANY
Date: 19 July 1994
By Bloomberg News
Bloomberg News
The Bristol-Myers Squibb Company said yesterday that it had offered to buy out the other shareholders in UPSA Group, a French pharmaceutical company specializing in pain medications. Bristol-Myers, which has held a minority interest in the company since 1990, said it would keep UPSA as an independent unit. Other terms of the offer were not disclosed. UPSA Group produces analgesics and products for cardiovascular and gastrointestinal problems for European distribution. Bristol-Myers, based in New York, makes pharmaceuticals, consumer products and medical devices.
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FORMER G.E. EXECUTIVE PLEADS GUILTY IN FRAUD CASE
Date: 19 July 1994
By Bloomberg News
Bloomberg News
A former executive for the General Electric Company admitted his role yesterday in a scheme to divert $11 million in United States military aid meant for Israel. Herbert B. Steindler, 55, of Melbourne Beach, Fla., pleaded guilty to wire fraud and conspiracy to defraud the Federal Government, among other charges. Mr. Steindler also agreed to forfeit $1.7 million, prosecutors said. The former G.E. international sales manager, who was dismissed in 1991, faces up to 35 years in prison and $22 million in fines. Mr. Steindler was indicted in March with Rami Dotan, a former Israeli air force general. They were charged with diverting the aid between 1984 and 1990 from Pentagon contracts for jet engines. Mr. Dotan is serving a 13-year prison term in Israel.
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Guardsman Purchase
Date: 19 July 1994
By Bloomberg News
Bloomberg News
Guardsman Products Inc. said today that it had signed a definitive agreement to buy the Moline Paint Manufacturing Co. for stock and cash worth about $25 million, plus the assumption of Moline's debt and certain contingent payments. The acquisition will expand Guardsman's metal coatings business. After the purchase, Guardsman will have metal and wood coatings sales of about $180 million a year, with metal coatings accounting for about half of the total, the company said.
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Compaq and Oracle Accord
Date: 19 July 1994
By Bloomberg News
Bloomberg News
The Compaq Computer Corporation and the Oracle Systems Corporation have strengthened their ties by establishing a joint business unit to bolster their computers and software in advanced networks. Besides setting up a Compaq unit at Oracle's offices in Redwood Shores, Calif., the companies said today that they had established a long-term alliance that would ultimately allow Oracle's data base software to run on Compaq's specialized computers, or file servers, which anchor networks.
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National Media Corp. Woes
Date: 18 July 1994
By Bloomberg News
Bloomberg News
The National Media Corporation said today that its auditors had questioned the survival prospects of the company, which produces infomercials for television. The auditors, in a Federal filing by the company, cited National Media's full-year loss of $8.7 million and negative cash flow. They also said that continuing litigation over several issues added to concerns about the company's ability to stay in business.
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