إعادة السبت، ١١ سبتمبر ١٩٩٣

NEWS SUMMARY

Date: 11 September 1993

International 2-6 ISRAEL SEES WIDER PEACE Signing a stiffly worded letter declaring recognition of the P.L.O., Prime Minister Yitzhak Rabin of Israel said history had handed his country a chance for reconciliation with the rest of the Arab world, and not just the Palestinians. Expectations are high that Israel and Jordan could reach a draft agreement of their own in the next few days. 1 SURVEYING DECADES OF HATRED Even during the depths of the cold war, neither Americans nor Russians looked across the Iron Curtain with the hatred that has so often fed the Israeli-Palestinian conflict. 6 SETTLERS FEELING IGNORED For most of the roughly 130,000 Isaelis living in settlements scattered throughout the West Bank and Gaza Strip, this is a time of worry, uncertainty, fear and anger. 4 HOTTEST TICKET IN WASHINGTON In addition to the two parties and their delegations, close to 2,500 people have been invited to the signing of the Israeli-Palestinian peace accord on the South Lawn of the White House on Monday morning. 1 A P.L.O. aide suggested that Yasir Arafat might attend the signing. 5 P.L.O. backers marched in Gaza to support mutual recognition. 4 Egypt draws great satisfaction from the pending peace agreement. 5 U.S. BLAMES SOMALI CROWD American and United Nations officials blamed Somali fighters who ambushed a United Nations convoy for the scores of civilian casualties incurred during a battle on Thursday in Mogadishu. 3 SERBS BARRAGE CROATIAN TOWN In some of the fiercest fighting in Croatia since war broke out there more than two years ago, Serbs pounded a garrison town in Croatia with artillery and vowed to retake three villages that were captured on Thursday in a Croatian attack. 3 POPE SKIRTS DISPUTE IN ESTONIA Winding up his tour of the Baltic republics, Pope John Paul II visited the Estonian capital and pointedly declined to respond to a call to back Estonia's campaign for the withdrawal of Russian troops. 3 A square blooms as a Brazilian city embraces historic preservation. 2 National 7-10 CLINTON HEALTH PLAN UNVEILED The President has settled on a plan to guarantee health insurance for all Americans while vastly expanding Federal power to control private spending on medical care. 1 A MAJOR UNDERTAKING News analysis: The Administration's health care plan is imposing not just in its intricacy, but also in its political boldness. 1 HARD CHOICES FOR AMERICANS The many Americans who are already decently insured may have a hard time deciding about their prospects under the health proposal. 1 RESHAPING THE HEALTH INDUSTRY The Administration's plan could accelerate trends that are already reshaping the work of doctors, hospitals and insurance companies. 10 RELENTING ON TRADE BATTLE The House majority whip retreated from his plans to use all the resources of his office against the North American Free Trade Agreement. 7 ACTION AFTER IMPLANT SETTLEMENT Dow Corning's announcement that it would settle lawsuits over its breast implants has prompted many women to call lawyers. 7 A BUSH AIDE FACES PUNISHMENT An aide to George Bush faces jail or fines for refusing to turn over records of her role in the search of Bill Clinton's passport files. 7 Jack Kevorkian assisted in another suicide. 7 Religion notes: The Middle East accord forced some new liturgy. 27 Metro Digest B1 Business Digest D1 Weekend C1-28 American fashion at the Met. C1 A landsman goes whale-watching. C1 Poster art for collectors. C1 Kasparov and Short draw in Game 2. C21 For Children C23 Theater: Critic's Notebook C2 Film: "Samba Traore." C3 "True Romance." C5 "The Seventh Coin." C5 "Leon the Pig Farmer." C8 "Crush." C8 "The Real McCoy." C10 Restaurants C20 Art: Modern's director resigns. C3 Self-portraits in prints and photographs. C13 Movement monger's many moods. C19 Arthur Murphy's Social Realism. C25 Books: "A Tidewater Morning." C27 Television: TV Weekend D18 Sports B11-17 Baseball: Abbott can't enjoy his no-hitter. B11 Owners approve realignment. B11 Blue Jays lose another. B12 Columns: Vecsey on U.S. Open. B11 Anderson on Chavez-Whitaker. B17 Tennis: Pioline and Masur in semifinals. B11 Obituaries B10 Helen O'Connell, big-band singer. Editorials/Op-Ed A26-27 Editorials Beyond the shock of recognition. Judge Wachtler heads for prison. A start on national service. For City Council from Brooklyn. Letters A. M. Rosenthal: Bosnia -- empty promises. Roger Harrison: Israel can live with the risks. Joseph Nocera: Bulls, bears and us. Bridge C21 Chronicle B4 Crossword C26

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HYUNDAI ELECTRONICS TO BUY 40% OF MAXTOR

Date: 11 September 1993

By Bloomberg News

Bloomberg News

The Maxtor Corporation signed a definitive agreement yesterday under which the South Korean electronics giant Hyundai Electronics Industries would invest $150 million in Maxtor in return for a 40 percent stake in the company. Hyundai will receive about 19.4 million shares of the troubled maker of disk drives. The transaction values each Maxtor share at $7.70. Maxtor shares closed yesterday at $6.25, up 25 cents, in Nasdaq trading. Like most other disk drive companies, Maxtor has been reporting losses after being unable to keep up with the trend toward more-powerful personal computers, which require larger memory. The agreement also provides that Hyundai cannot acquire more than a 45 percent stake in Maxtor except under special conditions. The company did not elaborate.

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KATY INDUSTRIES DELAYS ANNUAL SHAREHOLDER MEETING

Date: 11 September 1993

By Bloomberg News

Bloomberg News

Katy Industries Inc., the subject of a bidding war, said yesterday that it had postponed its annual shareholder meeting scheduled for next Thursday. The meeting has not been rescheduled, said Paul Kurowski, a spokesman. Katy Industries, based in Elgin, Ill., said it was delaying the meeting to insure that all shareholders receive a proxy supplement 7 to 10 days before the meeting. Shareholders are to vote on a proposal to sell the company to the Carroll family, which owns a majority stake in Katy, for $25.75 a share. Katy's management entered a binding agreement with the Carrolls on March 23. But last Friday, Rosecliff Pensler Partners, an investment firm, made an 11th-hour bid of $29 a share. The stock closed yesterday on the Big Board at $27, up 62.5 cents. Katy manufactures sanitary maintenance supplies, shoe-making equipment and pumps.

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MANUFACTURED HOME COMMUNITIES SHARES UP 10.3%

Date: 11 September 1993

By Bloomberg News

Bloomberg News

The shares of Manufactured Home Communities Inc. jumped 10.3 percent yesterday after the company said that it was in talks to buy a group of mobile home parks that would increase its portfolio by a third. Manufactured Home, a real estate company brought public earlier this year by Sam Zell, a Chicago investor, said it was in preliminary talks to buy 15 mobile home parks with more than 7,000 sites from the closely held De Anza Group Inc. of Beverly Hills, Calif. No financial details were disclosed. If Manufactured Home completes the acquisition, the number of mobile home parks it owns will increase to 59 from 44, and the number of sites will rise to more than 20,000 from 13,228.

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GOLD STANDARD STOCK FALLS AS VERDICT IS OVERTURNED

Date: 11 September 1993

By Bloomberg News

Bloomberg News

The stock of Gold Standard Inc. tumbled yesterday after a Utah judge overturned a $404.2 million jury award against Texaco Inc. that had helped Gold Standard's stock price more than double. The mining company's shares fell $1.125, to $1.9375, in over-the-counter trading. On Tuesday, the company's stock rose $2.0625, to $3.375, the first day of trading after the jury verdict. The award would have been a windfall for the mining company, which has not had any revenue for 20 years. But late Thursday, Judge Frank G. Noel overturned the jury's verdict, ruling in favor of Texaco and its subsidiaries, which had argued that the verdict did not fit the facts of the case or the law. The long-running dispute arose over a 1973 gold mine venture near Salt Lake City between Gold Standard and the Getty Oil Company; Getty was acquired by Texaco in 1984.

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LAYOFFS TO BE USED TO CUT OCTOBER FIAT OUTPUT

Date: 11 September 1993

By Bloomberg News

Bloomberg News

Fiat S.p.A. said it would use temporary layoffs to cut its car production by 28,300 in October, about half the production cut being made in September. A Fiat spokesman said the company is slowing down the rate of its production cuts because August's car sales figures were not as poor as recent months. Anfia, the Italian car dealers association, reported last week that care sales fell 19.6 percent in August from a year ago, slower than July's 28.8 percent and June's 29.5 percent declines. The number of workers that will be asked to work part time or not at all will vary from 12,000 to 31,000 a week in October.

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NEW YORK PHONE CUTS 172 MANAGERS TO TRIM COSTS

Date: 11 September 1993

By Bloomberg News

Bloomberg News

The New York Telephone Company laid off 172 managers yesterday in an effort to cut costs and become more competitive with companies that build fiber optic local phone networks. The managers represent 2.3 percent of New York Telephone's 7,382 managers. The number of layoffs was lower than previous estimates because more managers than expected left the company voluntarily. Earlier this year, New York Telephone estimated as many as 600 managers would be laid off. New York Telephone, like other units of regional Bell operating companies, has faced increased competition in the local phone market.

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Morgan Stanley Stock Sold

Date: 11 September 1993

By Bloomberg News

Bloomberg News

As Morgan Stanley Group Inc.'s stock traded near record highs last month, 41 company employees sold more than $31 million worth of their shares, according to Securities and Exchange Commission filings. Among the insiders who sold shares were more than 20 managing directors, including Barton M. Biggs, the firm's chief investment strategist and a member of the board, and Allen Zern, chief financial officer.

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NEWS SUMMARY

Date: 12 September 1993

International 3-23 ARAFAT AND RABIN SIDE BY SIDE

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Management Consolidated At Rhone

Date: 11 September 1993

By Kenneth N. Gilpin

Kenneth Gilpin

Rhone-Poulenc Rorer Inc., the French-controlled drug company formed three years ago when Rhone-Poulenc S.A. merged with Rorer Group Inc., has consolidated its top management after the departure of a leading executive. The shifts follwed the decision of Randy H. Thurman to assume the new positions of chairman and chief executive of Metpath Inc., a subsidiary of the Corning Lab Services Group of Corning Inc.

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