Den 25 maj 1995 var en torsdag under stjärntecknet ♊. Det var 144 e dagen i året. Förenta staternas president var William J. (Bill) Clinton.
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Date: 25 May 1995
CABLE NEWS NETWORK, Atlanta, a unit of Turner Broadcasting System Inc., promoted Lou Dobbs, a CNN Business News anchor, to executive vice president, in addition to his post as head of the cable news station's business news division. CORNING INC., Corning, N.Y., named Van C. Campbell, its vice chairman, to the additional post of chairman of its Corning Life Sciences Inc. unit.
Date: 25 May 1995
By Calvin Sims
Calvin Sims
When President Carlos Saul Menem declared victory before cheering crowds last week in winning a second term, he could not resist taking a jab at journalists. "We triumphed not only over opposition parties but also over the press, which was the strongest source of the opposition," said Mr. Menem, a 64-year-old Peronist.
Date: 26 May 1995
By R. W. Apple Jr
R. Apple
From the viewpoint of some who want to make him President, Colin L. Powell is playing his cards too close to his vest. Either he gives a hint of interest soon, one of his main backers said last week, or people at the grass roots will dismiss him as "too coy." From his own perspective, his friends say, General Powell has no option except to allow the political drama to unfold. One of them put it this way: "Suppose, just suppose, he wants the job. He has nothing to gain by running after it months ahead of time. That makes him look like everyone else."
Date: 26 May 1995
By Bloomberg News
Bloomberg News
The shares of the Louisiana-Pacific Corporation fell 14 percent yesterday after the company said Wednesday that it expected to be indicted by a Federal grand jury on charges of tampering with environmental monitoring equipment. Louisiana-Pacific stock was down $4, to $22.75. The charges would add to a string of environmental problems at the company in the last few years. Louisiana-Pacific has paid $17 million in environmental penalties in the last two years. The company first reported the grand jury investigation in documents filed with the Securities and Exchange Commission in March 1994 and said in November that it would probably be indicted. The allegations include tampering with emissions-monitoring equipment and altering records at its Montrose, Colo., plant, according to a Federal filing by the company. The Wall Street Journal reported the contents of the filing yesterday. Company officials could not be reached for comment.
Date: 26 May 1995
By Bloomberg News
Bloomberg News
The makers of Arizona teas and juice drinks, Ferolito, Vultaggio & Sons, will not sell the company to the G. Heileman Brewing Company, Ferolito's chairman said yesterday. Speaking at a conference in Manhattan, Don Vultaggio, the chairman of the company, said that the takeover was not going to happen. Heileman is best known for Colt 45 malt liquor. The Dallas buyout firm Hicks Muse Tate & Furst bought a majority stake in the company last year. Ferolito, privately held, introduced its line of teas in 1992, when it sold 700,000 cases; sales were 20 million cases last year. People familiar with the two companies had said that talks had nearly led to a purchase estimated at more than $400 million. Mr. Vultaggio also said Arizona would introduce new drinks this summer, including a carbonated chocolate drink.
Date: 25 May 1995
By Bloomberg News
Bloomberg News
Meridian Bancorp Inc. signed a letter of intent yesterday to acquire the United Counties Bancorporation in a stock swap valued at $360 million. An earlier round of talks ended in December after the companies failed to agree on merger terms; a letter of intent signed in August set the value of the merger at $376 million. Under the new agreement, each share of United Counties common stock will be exchanged for five shares of Meridian Bancorp, a financial services company based in Reading, Pa. The deal will be a tax-free exchange for United Counties shareholders. Shares of United Counties rose $22.50, to $150, in Nasdaq trading. Shares of Meridian fell 87.5 cents, to $32.125.
Date: 25 May 1995
By Bloomberg News
Bloomberg News
The Tenet Healthcare Corporation said yesterday that it had agreed to sell its Asian and Australian hospitals to Parkway Holdings of Singapore for $415 million. Tenet, formerly known as National Medical Enterprises, said Parkway would pay $352 million for Tenet's hospitals in Singapore, Malaysia and Thailand and assume $78 million in debt. Parkway also agreed in principle to pay $63 million for Tenet's 53 percent stake in Australian Medical Enterprises. The sale would free Tenet, based in Santa Monica, Calif., from most of its international operations and enable the company to focus on its United States operations, which includes 83 hospitals. The sale was announced after the stock market had closed. Earlier, shares of Tenet were unchanged at $16.25 on the New York Stock Exchange.
Date: 25 May 1995
By Bloomberg News
Bloomberg News
Shares of Michaels Stores Inc. fell 23 percent yesterday after the company said increased sale promotions would hurt profits in the second quarter. Michaels Stores, a retailer of arts, crafts and home furnishings based in Irving, Tex., reported first-quarter results that were in line with analysts' forecasts but warned investors that more markdowns were being used to increase sales in the current quarter. Shares of the company fell $7.50, to $24.75, as more than 5.6 million shares changed hands in Nasdaq trading.
Date: 26 May 1995
By Bloomberg News
Bloomberg News
Sonat Inc. said yesterday that it would sell preferred stock back to Baker Hughes Inc. for $167 million, taking a loss of $8 million on the sale. Sonat, a gas pipeline and exploration company based in Birmingham, Ala., said it would sell back to Baker Hughes four million shares of preferred stock it received as part of the April 1992 sale of Sonat's Teleco Oilfield Services Unit. Sonat will report an after-tax loss of $8 million, or around 9 cents a share, on the sale of the stock, which has a face value of $200 million and was carried on Sonat's books for $180 million. The preferred stock pays a 6 percent dividend and is convertible into common shares of Baker Hughes for $32.50 a share. Sonat said it was selling the stock to help pay off $700 million in debt and to raise money for exploration and drilling.
Date: 25 May 1995
By Bloomberg News
Bloomberg News
The VWR Corporation signed a definitive agreement yesterday to acquire the industrial and life sciences division of Baxter International Inc. for $400 million in cash. VWR, a distributor of laboratory supplies and chemicals based in West Chester, Pa., also said that EM Industries, the United States unit of E. Merck of Germany, had agreed to exercise its warrant to buy 967,000 common shares of VWR for $11 a share and purchase an additional 6.8 million shares of common stock for $12.44 each. VWR said it would change its name to the VWR Scientific Products Corporation after the deal is completed. The combined company will have annual revenue of about $1 billion, VWR said.