Den 12 mars 1996 var en tisdag under stjärntecknet ♓. Det var 71 e dagen i året. Förenta staternas president var William J. (Bill) Clinton.
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12th of March 1996 News
Nyheter som framträdde på New York Times framsida den 12 mars 1996
German Press Is Baring More About Politicians' Sex Lives
Date: 12 March 1996
By Stephen Kinzer
Stephen Kinzer
The press attention given to a state premier's divorce suggests that the code of silence that has long shrouded the private life of German politicians is slowly eroding. For years, the German press has been among the Western world's most discreet. Even when journalists saw prominent politicians cavorting openly with one woman after another, they wrote not a word. They still know much more than they write, but their reserve is slowly melting away.
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Read It First In Alternative Press
Date: 12 March 1996
To the Editor: Frank Rich's March 6 column, on the recent alternative media convention in San Francisco, is good reporting of a group with millions of members. True, the alternative press had 650 representatives. True, they seemed somewhat left of liberal. But the real "alternative press" is only now forming in a true underground of cyberspace.
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Read It First In Alternative Press
Date: 12 March 1996
To the Editor: Frank Rich's column on the Media and Democracy Congress ("Mixed Media Message," March 6) portrays the alternative press as a kind of lost tribe still stuck in the distant and presumably irrelevant 1960's. Except for a single reference to media conglomerates, your readers remain in the dark about the left's critique of mainstream media.
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NEWS SUMMARY
Date: 13 March 1996
International A3-11
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NEWS SUMMARY
Date: 12 March 1996
International A3-9
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COMPANY NEWS;IMMULOGIC-HOECHST PARTNERSHIP DISSOLVED
Date: 12 March 1996
Dow Jones
Dow Jones
Shares of the Immulogic Pharmaceutical Corporation of Waltham, Mass., fell 28 percent yesterday after Hoechst Marion Roussel Inc. dropped its partnership with the biotechnology company, surrendering the rights to the Allervax line of allergy products. Wall Street seemed uncertain whether the dissolution of the partnership was related to product performance or whether the venture was simply a casualty of Hoechst's reorganization after its merger with Marion Merrell Dow. Hoechst Marion Roussel is a division of the giant German drug maker Hoechst A.G., which said it planned to sell part or all of its 1.25 million shares of Immulogic, or about 6 percent of the company. Immulogic shares fell $3.75 to close at $13.25 on the Nasdaq.
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COMPANY NEWS;REVAMPING OF PC MODEM INVENTOR CLEARED
Date: 12 March 1996
Bloomberg Business News
Bloomberg News
Hayes Microcomputer Products Inc. said yesterday that a United States Bankruptcy Court judge had confirmed its Chapter 11 reorganization plan, which would pay all creditors and give new investors 49 percent of the company in exchange for $35 million. The investors, Acma Ltd., and BCE's Northern Telecom Ltd., are buying equal stakes in Hayes and have also offered to put up $6.5 million each in convertible loans. The chief executive of Hayes, Dennis Hayes, and the employee stock plan would own 51 percent of the reorganized company. Hayes said the $35 million from the investing companies, a $70 million debt facility with CIT Group/Credit Finance and the proceeds from the sale of surplus land would be used to pay Hayes's creditors. Acma said Hayes was expected to make a pretax profit of $20.2 million on revenue of $329 million this year.
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COMPANY NEWS;ALLIANCE FOR TWIN LABORATORIES AND LEONARD GREEN
Date: 13 March 1996
Dow Jones
Dow Jones
Twin Laboratories Inc. and Leonard Green & Partners L.P. have agreed to form a joint venture to acquire Twin Laboratories for about $225 million, the companies said yesterday. The joint venture will consist of the five Blechman brothers -- all vice presidents at Twin Laboratories and the sons of the founders, David and Jean Blechman -- and Leonard Green & Partners, a Los Angeles merchant banking concern. After the transaction, the Blechman brothers will hold a 45 percent stake in Twin Laboratories. Twin Laboratories, of Ronkonkoma, L.I., markets vitamins and mineral products.
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COMPANY NEWS;FUND AMERICAN TO BUY STAKE IN FOLKSAMERICA
Date: 12 March 1996
Dow Jones
Dow Jones
Fund American Enterprises Holdings Inc. agreed yesterday to buy a 50 percent stake in the Folksamerica Holding Company for $79.4 million. Fund American, an insurance holding company in Norwich, Vt., will receive preferred stock of Folksamerica Holding and rights to buy as much as 6.9 million Folksamerica common shares for $11.47 each. Folksamerica plans to use proceeds from the transaction to complete its $88 million acquisition of the Christiania General Insurance Corporation of Tarrytown, N.Y., which is owned by the Oslo Reinsurance Company, based in Oslo.
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COMPANY NEWS;MEDTRONIC TO BUY REMAINING SYNECTICS SHARES
Date: 12 March 1996
Bloomberg Business News
Bloomberg News
Medtronic Inc. said yesterday that it would pay $59 million, or $41.74 a share, for the shares of Synectics Medical A.B. of Sweden that it does not already own. For the last three years, Medtronic has held about a 7.4 percent stake in Synectics. Its tender offer valued the Stockholm-based company at about $63.7 million. Synectics is a world leader in computerized systems that help diagnose urological and digestive problems and sleep apnea. Shares of Minneapolis-based Medtronic fell $1.25, to $55.875, on the New York Stock Exchange.
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