27th of June 1995 News
الأخبار كما ظهرت في الصفحة الأولى لصحيفة نيويورك تايمز في ٢٧ يونيو ١٩٩٥
International Briefs; Ex-Italian Prime Minister May Link With Murdoch
Date: 27 June 1995
By Bloomberg News
Bloomberg News
The former Prime Minister of Italy, Silvio Berlusconi, could become a shareholder in the News Corporation, headed by Rupert Murdoch, in a transaction under which the News Corporation would take control of Mr. Berlusconi's Italian television interests. A spokesman at S.p.A., Mr. Berlusconi's company, said the arrangement was one possibility raised on Sunday at a meeting between Mr. Berlusconi and Mr. Murdoch.
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TV Guide Taps Editor to Lead On-Line Unit
Date: 28 June 1995
By Deirdre Carmody
Deirdre Carmody
News America Publishing yesterday named Barry Golson, executive editor of TV Guide, as editor in chief of a new unit for magazine development and new media. Among his duties, Mr. Golson will oversee TV Guide Online, an electronic version of the magazine's television listings scheduled to go on the Internet in September.
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Business Travel;
American Express travel centers should help make visiting China a little less difficult.
Date: 28 June 1995
By Jane L. Levere
Jane Levere
WELL KNOWN as a potentially difficult experience, visiting China should be easier with the opening this month of an American Express business travel center in Beijing.
Situated in the Swissotel Beijing Hong Kong-Macao Center, the new center is a cooperative effort between American Express and China International Travel Service, or Cits, the Government-owned travel agency; the Cits connection enables American Express to issue airline tickets. The center also sells rail tickets, and arranges conferences, hotel reservations, leisure excursions, airport transfers, and visa and ticket delivery.
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Big 3 and Japan
Date: 28 June 1995
By James Bennet
James Bennet
Of all the exaggerated claims made by both sides in the trade dispute, among the least credible is that the Big Three auto makers have earnestly attempted to penetrate the Japanese market, only to be blocked at every turn. Despite statements by the United States Government and the companies' own trade organization to the contrary, even Big Three executives concede they have barely tried. "The biggest strategic mistake that we made over the last 30 years was not aggressively attacking the Japanese market -- from the standpoint of understanding the people that have become your key or toughest competitors," said G. Richard Wagoner Jr., president of North American operations at the General Motors Corporation.
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NATIONSBANK TO BUY FLORIDA'S INTERCONTINENTAL BANK
Date: 27 June 1995
By Bloomberg News
Bloomberg News
The Nationsbank Corporation said yesterday that it would buy the 24 branches of Intercontinental Bank, based in Miami, in a stock swap valued at $208 million. Nationsbank, based in Charlotte, N.C., said the acquisition of Intercontinental, a $1.1 billion company, would increase its business in south Florida, where it has 111 branches and 91 automated teller machines. On Friday, Intercontinental said it was in talks with Nationsbank for a sale at $30 a share. Intercontinental's stock rose 56.25 cents yesterday, to $28.3125, in Nasdaq trading. Nationsbank's shares fell 37.5 cents, to $55.875 on trading of 447,400 shares.
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WEATHERFORD TO GET ENTERRA IN STOCK SWAP
Date: 27 June 1995
By Bloomberg News
Bloomberg News
Weatherford International Inc. will acquire the Enterra Corporation, another energy service company based in Houston, in a stock swap valued at about $540 million. The acquisition was the most recent toward consolidation of the domestic oil services industry and will expand the range of services Weatherford can offer customers. The combined company will have assets of more than $1 billion and annual revenue of more than $850 million. Under a definitive agreement, 1.69 share of Weatherford will be issued in exchange for each share of Enterra. At the same time, Weatherford will conduct a 1-for-2 reverse stock split, producing a post-split stock swap of 0.845 Weatherford shares for each Enterra share.
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BOLLINGER INDUSTRIES SHARES PLUNGE ON POOR FORECAST
Date: 27 June 1995
By Bloomberg News
Bloomberg News
Shares of Bollinger Industries plunged 71 percent yesterday after the company announced a spate of bad news: an expected quarterly loss on poor sales, possible problems with lenders and the resignations of its auditor and two directors. Bollinger, a supplier of fitness and safety products, said it would report a pretax loss for its fourth quarter because sales fell short of expectations. It also said it would not file its annual report with the Securities and Exchange Commission as scheduled. As a result of the expected loss and the delayed filing, Bollinger said it might be in technical default of its bank credit agreement. Shares of Bollinger fell $4.625, to an all-time low of $1.875 yesterday, in Nasdaq trading.
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CHASE TO SELL MARYLAND BRANCHES TO CRESTAR FINANCIAL
Date: 27 June 1995
By Bloomberg News
Bloomberg News
The Chase Manhattan Corporation agreed yesterday to sell its Maryland branches and some loans to the Crestar Financial Corporation as part of a planned retreat of its retail banking to New York City and its suburbs. Crestar, based in Richmond, would buy six Chase branches, $450 million in deposits and $260 million in loans, as it continues to expand in Maryland. Terms were not disclosed. Chase, the nation's sixth-largest bank, with assets of $120.7 billion, has been trying to shed retail bank operations outside New York.
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GENERAL NUTRITION'S LARGEST HOLDER PLANS TO SELL
Date: 27 June 1995
By Bloomberg News
Bloomberg News
The General Nutrition Companies said after the close of trading yesterday that affiliates of the Thomas H. Lee Company, its largest institutional investor, planned to sell 10 million shares with a market value of $358.8 million, more than half its 43 percent stake in the company. General Nutrition, a Pittsburgh-based vitamin and nutrition products retailer, said Lee, a Boston investment firm that specializes in leveraged buyouts, would retain a 21 percent stake in the company after the proposed public offering is completed.
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SAINT-GOBAIN JOINS WITH BALL ON GLASS VENTURE
Date: 28 June 1995
By Bloomberg News
Bloomberg News
Saint-Gobain, France's biggest glass maker, will become the second-largest glass-container manufacturer in the United States through a $1 billion joint venture with the Ball Corporation. The joint venture will acquire the Ball Glass Container Corporation in Muncie, Ind., and the Foster Forbes glass-making operations in Marion, Ind. Foster Forbes is a division of Pechiney of France. Ball, which had 1994 sales of $2.59 billion, will receive more than $125 million in cash and hold a 42 percent stake in the joint venture, which is subject to regulatory and other approvals. Saint-Gobain will hold the remaining equity. The new venture will initially employ about 8,500 people in 22 plants throughout the United States. Ball said it expected the transaction, which should be completed by the end of the year, to result in an after-tax charge of up to $75 million, or $2.50 a share.
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