13th of July 1994 News
الأخبار كما ظهرت في الصفحة الأولى لصحيفة نيويورك تايمز في ١٣ يوليو ١٩٩٤
NBC Asian Service
Date: 13 July 1994
By Bloomberg News
Bloomberg News
The National Broadcasting Company, a unit of the General Electric Company, said today that it would begin an Asian business news satellite television service. NBC said its Asian business service, ANBC, will start broadcasting on Aug. 1 to 15 countries in Southeast Asia. It will feature business news programming from NBC's United States business news channel, CNBC. The NBC service will be competing with Asia Business News, a venture started eight months ago by Dow Jones & Company; Tele-Communications Inc., and Television New Zealand Ltd.
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Public & Private; Order In The Court
Date: 13 July 1994
By Anna Quindlen
Anna Quindlen
Some years ago I stood behind a teacher with a gaggle of students who had approached a court officer at the Criminal Courts Building in lower Manhattan to ask how she could arrange to observe a trial. The officer told her what he later said many people failed to understand: that anyone can watch. It's that simple: the public usually has a right to be present at the process by which we find our fellows guilty or not of some infraction of law. Today, as the O. J. Simpson case has made clearer than ever before, we even have the right to watch from the comfort of our living rooms.
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Marriott Hotels Bought
Date: 13 July 1994
By Bloomberg News
Bloomberg News
The Host Marriott Corporation said today that it had acquired three Marriott-brand hotels with 985 rooms for $45.2 million. The company, a Washington-based owner of hotel real estate and airport concessions, purchased hotels in South Bend, Ind.; Raleigh, N.C., and Tampa, Fla., that are managed by Marriott International Inc.
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COMPANIES WITHDRAW BID FOR TABLOID PUBLISHER
Date: 14 July 1994
By Bloomberg News
Bloomberg News
Enquirer/Star Group Inc. said yesterday that Macfadden Holdings Inc. and Boston Ventures L.P. had withdrawn their bid to acquire Enquirer/Star for $17.50 a share, because it would not be "the best available transaction for all shareholders." Macfadden, a New York publisher, and Boston Ventures, which own about 57 percent of Enquirer/Star, first offered to acquire the remainder of the company on April 28. The bid, totaling $315 million, was at a premium of 21 percent over the closing price of the stock, $14.50, the previous day. Shares of Enquirer/Star, which is based in Lantana, Fla., fell 12.5 cents, to $17.25, on the New York Stock Exchange yesterday.
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AMERICAN BRANDS TO SELL DOLLOND & AITCHISON
Date: 13 July 1994
By Bloomberg News
Bloomberg News
American Brands Inc. said yesterday that it would sell Dollond & Aitchison Group P.L.C. to a management group led by CVC Capital Partners Ltd. for $146 million. Dolland & Aitchison, a unit of American Brands' Gallaher Ltd. group of companies, is the largest retail optical group in England and, with its operations in Italy, Spain and Ireland, is the second largest in the world. The agreement also includes the Keeler companies, which make optical instruments.
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WOOLWORTH NEARLY HALVES ITS DIVIDEND
Date: 14 July 1994
By Bloomberg News
Bloomberg News
The Woolworth Corporation cut its dividend nearly in half yesterday, in a move it said was designed to put more money into its retail chains. In cutting its quarterly payout to 15 cents a share from 29 cents, Woolworth brought its dividend down to its lowest level since 1987, but also brought it more in line with the dividend yields other retail companies have been offering their shareholders recently, analysts said. The dividend cut also reflects problems in Woolworth's core discount store business, and concern that its Foot Locker unit's growth has slowed, said Tobi Mason, an analyst at Spare, Tengler, Kaplan & Bichel. Woolworth shares slipped 37.5 cents, to $15.625, on the New York Stock Exchange. The new dividend will be paid on Sept. 1 to shareholders of record as of Aug. 1.
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GLENDALE FEDERAL TO SELL UNIT TO FIRST INTERSTATE
Date: 14 July 1994
By Bloomberg News
Bloomberg News
Glendale Federal Bank signed a definitive agreement yesterday to sell its Washington unit, University Savings Bank, to First Interstate Bancorp for $190.4 million plus a few months of the unit's earnings. The sale continues Glendale Federal's plan to sell its operations outside California and adds 25 branch offices to First Interstate's 124-office Washington operations. University Savings, which was acquired by Glendale in March 1989, has $1.1 billion in assets. Glendale Federal had $17.9 billion in assets at the end of 1993.
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ARCO TO SPEND $1 BILLION ON ALGERIAN OILFIELD
Date: 13 July 1994
By Bloomberg News
Bloomberg News
The Atlantic Richfield Company said yesterday that it had agreed to spend $1 billion over 25 years to develop a giant oilfield in Algeria. The agreement, expected to be made final by early 1995, would mark the first foreign investment for the country since it called for bids to develop its natural resources in 1991. For ARCO, the most domestically focused of the United States oil companies, developing the field about 450 southeast of Algiers would help shift its sources of oil abroad and away from the dwindling Prudhoe Bay field in Alaska.
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CHEVRON SAYS IT HAS A BUYER FOR HEADQUARTERS BUILDING
Date: 13 July 1994
By Bloomberg News
Bloomberg News
The Chevron Corporation said yesterday that it had found a buyer for its landmark headquarters building in San Francisco's financial district a year after putting the structure up for sale. Chevron declined to name the buyer or to provide terms of the sale, but it said it expects to complete the transaction in "the coming weeks." The company said it intended to continue to lease space at the building, at 225 Bush Street, for several years. Chevron also occupies space at two other buildings it owns on Market Street in San Francisco. Office property space in San Francisco was recently changing hands at an average price of $127.14 a square foot, according to the National Real Estate Index. At those prices, the 572,000-square-foot Chevron building, built 72 years ago, would be worth about $73 million.
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EASTMAN CHEMICAL TO INCREASE PLASTICS CAPACITY 45%
Date: 13 July 1994
By Bloomberg News
Bloomberg News
The Eastman Chemical Company of Kingsport, Tenn., said yesterday that it planned to increase its manufacturing capacity for plastic used in soda bottles by 45 percent by the end of 1998. The company, a maker of chemicals, plastics and fibers, said it planned to build a plant in North America that would make 260 million pounds a year of polyethylene terephthalate, or PET. Several sites are being considered, said Harry H. Holliman, vice president and general manager of Eastman's container plastics business unit. This is Eastman's third announcement of a new plant in three months. Shares of Eastman Chemical, which was spun off from the Eastman Kodak Company on Jan. 1, were down 87.5 cents yesterday at $46.625.
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