Den 7 februari 1996 var en onsdag under stjärntecknet ♒. Det var 37 e dagen i året. Förenta staternas president var William J. (Bill) Clinton.
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7th of February 1996 News
Nyheter som framträdde på New York Times framsida den 7 februari 1996
COMPANY REPORTS;News Corporation Plans Big Cutbacks at On-Line Unit
Date: 08 February 1996
By Mark Landler
Mark Landler
The News Corporation is joining the growing roster of communications companies that are shelving their on-line services and placing their bets on the Internet. Executives close to the News Corporation said yesterday that the company's on-line service, News Corp. Internet, would dismiss nearly half its 515 employees today. The cutbacks will come a week after MCI Communications announced that it would reduce its 50 percent stake in the service, and would back a rival on-line service just started by the Microsoft Corporation.
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CHRONICLE
Date: 07 February 1996
By Nadine Brozan
Nadine Brozan
GERALDINE A. FERRARO will be a regular co-host on the CNN political talk program "Crossfire," defending liberal positions in debates with her conservative counterparts, John Sununu and Robert Novak, The Associated Press said this week. Ms. Ferraro, a former New York Representative and 1984 Vice-Presidential candidate, called the job "a position where the dialogue and debate can have some impact."
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NEWS SUMMARY
Date: 07 February 1996
International A3-11
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COMPANY NEWS;STOCK OF DYNATECH UP ON NEWS IT WILL SELL UNITS
Date: 08 February 1996
Bloomberg Business News
Bloomberg News
The Dynatech Corporation's stock jumped as much as 14 percent yesterday after the company said it would sell seven units to focus on communications technology and would buy back as many as a million of its shares. Dynatech ended up $1.875 at $21.125. Dynatech, which is based in Burlington, Mass., said it planned to sell seven broadcast video equipment and data transmission operations, plus four medical and diagnostic operations that were earmarked for sale last month. The 11 businesses have total annual sales of $180 million. Dynatech said it expected the sale of the 11 businesses to net about $100 million. After the sale the company will have three core businesses: communications test instruments, industrial and scientific communications systems, and nonbroadcast video technologies.
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NEWS SUMMARY
Date: 08 February 1996
International A3-15
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More Bad News on Foster Care
Date: 08 February 1996
The Federal Government has filed a civil lawsuit contending that New York City bilked it of millions of dollars for foster care services that were not delivered. Washington says that most of the alleged transgressions occurred during the Dinkins administration. But it is Mayor Rudolph Giuliani, already strapped for money to cover the municipal deficit, who will have to pay up if the Government wins the case. City officials insist that the suit is more about bookkeeping errors than fraud. This case will play itself out over time. But there may be consolation for Mr. Giuliani even if he loses. The case portrays a child welfare system run for the convenience of bureaucrats at the expense of abused children. Mr. Giuliani himself has lately agreed that the system is in poor shape. Of course he questions whether shelling out $100 million in damages is the best way to shape it up. But the lawsuit's all-too-familiar description of shoddy record-keeping and poor management should give new urgency to his efforts to reform an agency that has clearly fallen short in its mission to protect New York's most vulnerable children.
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COMPANY NEWS;MICROSOFT PURCHASE INVESTIGATED BY U.S.
Date: 07 February 1996
Bloomberg Business News
Bloomberg News
The Microsoft Corporation's acquisition of a fledgling World Wide Web software company, Vermeer Technologies Inc., is being investigated by Federal antitrust regulators, the Justice Department said yesterday. The investigators are looking at whether the purchase will hurt competition on the Internet's World Wide Web. It is unusual because it involves such a small company in the emerging and competitive market for Web software, antitrust lawyers said. Since last year, Federal officials have been examining the company's entry into the market for on-line information services. The Justice Department investigation of the Vermeer acquisition was first reported yesterday by The Wall Street Journal.
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COMPANY NEWS;SAMSONITE TO TAKE CHARGE FOR REORGANIZATION
Date: 07 February 1996
Reuters
The Samsonite Corporation, the luggage maker, said yesterday that it would consolidate its manufacturing operations and some administrative functions, resulting in a $2.4 million charge in the fourth quarter, which ended on Jan. 31. The consolidation would involve moving all domestic hard-side luggage manufacturing to Samsonite's Denver plant. The company also plans to consolidate finance, accounting, management information systems and human resource functions with existing departments in Denver. The move is expected to save Denver-based Samsonite about $3.3 million a year. The company's stock jumped $2.375 yesterday, to $12.375, in Nasdaq trading.
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COMPANY NEWS;GENCORP OFFERS EARLY RETIREMENTS IN REVAMPING
Date: 08 February 1996
Bloomberg Business News
Bloomberg News
Gencorp Inc., a maker of aerospace and automotive products, said yesterday that it was offering early retirement to 100 employees and eliminating its office of chief executive in a reorganization aimed at making the company more competitive. As part of the plan, four Gencorp officers, including two in the four-member office of chief executive, will retire early. The moves will result in a charge against earnings of an undisclosed amount.
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COMPANY NEWS;SOROS TRIMS STAKE IN NEWMONT MINING
Date: 08 February 1996
The billionaire investor George Soros has cut his stake in the Newmont Mining Corporation to 9.1 percent from 10.67 percent. Mr. Soros sold 1.33 million common shares at $56.50 a share to $59.53 a share, between Jan. 22 and Monday, according to a filing yesterday with the Securities and Exchange Commission. Mr. Soros reported holding the 10.67 percent stake last Nov. 14. A Soros associate, Stanley Druckenmiller, who files jointly with Mr. Soros, cut his stake in the company to 1 percent, from the 1.5 percent that he previously held. Newmont, based in Denver, explores for gold and has refining arrangements with domestic and foreign refiners. The company's shares closed today at $57, down $2.75.
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