20th of July 1995 News
الأخبار كما ظهرت في الصفحة الأولى لصحيفة نيويورك تايمز في ٢٠ يوليو ١٩٩٥
Senate Backs Measure to Have Reporters Reveal Outside Income
Date: 21 July 1995
By Katharine Q. Seelye
Katharine Seelye
Asserting that the news media should be as accountable as they are powerful, the Senate today passed a resolution calling for reporters to disclose the sources and amounts of their outside income. The nonbinding resolution, offered by Senator Robert C. Byrd, Democrat of West Virginia, was inspired by recent news reports that certain reporters had received "thousands of dollars in speaking fees from the very groups they cover," Mr. Byrd said.
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Judge Decides Rape Victim In Lawsuit Is Public Figure
Date: 21 July 1995
By James C. McKinley Jr
James McKinley
Setting the stage for an unusual libel trial against a Daily News columnist, a state judge has ruled that a rape victim who has never been named in press reports was nonetheless a public figure and thus must prove that the writer, Mike McAlary, recklessly ignored the truth in defaming her. By declaring the woman a public figure, the judge, Justice Charles E. Ramos of State Supreme Court in Manhattan, made it more difficult for her to prevail in her libel suit. In contrast, private citizens can win libel cases more easily, simply by proving the writer was negligent.
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LAZER-TRON STOCK DIVES ON NEWS OF FAILED BID
Date: 21 July 1995
By Bloomberg News
Bloomberg News
The shares of the Lazer-Tron Corporation fell 36 percent yesterday after Acclaim Entertainment Inc. said it planned to withdraw its acquisition offer, which ranged from $8 to $10 a share, because Lazer-Tron, a maker of coin-operated amusement park games, did not satisfy conditions of the deal. Acclaim made the announcement after the close of trading on Wednesday. Acclaim Entertainment agreed in March to pay from $32.9 million to $41.1 million for Lazer-Tron, based on stock price averages before the deal would be completed. Shares of Lazer-Tron, based in Pleasanton, Calif., dropped $3.438, to $6, in Nasdaq trading. Shares of Acclaim, based in Glen Cove, N.Y., rose $1.50, to $22.50, on Nasdaq.
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BANC ONE TO ACQUIRE PREMIER BANCORP
Date: 20 July 1995
By Bloomberg News
Bloomberg News
The Banc One Corporation has agreed to buy Premier Bancorp Inc. of Baton Rouge, La., for about $700 million in stock, the companies said yesterday. Banc One, based in Columbus, Ohio, paid $65 million in 1991 for an option that gave it the right to buy Premier for 125 percent of book value between July 1995 and July 1997. Yesterday's deal represents about 149 percent of Premier's book value, which was $13.28 a share as of March 31. Banc One will exchange 0.61776 share for each Premier share. "We were able to increase the original offer price based on the outstanding job Premier has done improving both the credit quality and the performance of their franchise," said John B. McCoy, chief executive of Banc One. Shares of Banc One fell 62.5 cents, to $32, on the New York Stock Exchange, while shares of Premier fell 6.25 cents, to $18.4375, in Nasdaq trading.
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STANLEY WORKS PLANNING A BROAD REVAMPING
Date: 20 July 1995
By Bloomberg News
Bloomberg News
The Stanley Works said yesterday that it would begin a broad reorganization to cut $150 million in costs by 1997 to help improve sales and profitability. The company, which makes tools, hardware and other products, said it had hired a consultant to evaluate its businesses. Stanley Works, based in New Britain, Conn., said it would probably incur reorganization charges. The company also said its second-quarter earnings fell 6.7 percent, to $31.5 million, or 71 cents a share, from $33.7 million, or 75 cents a share.
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LOCKHEED APPEARS CLOSE TO WINNING BIG BRITISH ORDER
Date: 20 July 1995
By Bloomberg News
Bloomberg News
The Lockheed Martin Corporation is likely to get an order for anti-submarine aircraft worth almost $:1 billion, or $1.6 billion, from the British Government, a legislator close to the Ministry of Defense said yesterday. The Lockheed P-3 Orion planes would replace Britain's 25-year-old Nimrod fleet. The legislator, speaking on the condition of anonymity, said the Lockheed order was "by far the most attractive" of four options under consideration. Officials at Lockheed Martin in Bethesda, Md., were unavailable for comment. The other contenders are British Aerospace P.L.C., Dassault Aviation of France and the Loral Corporation.
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W. R. BERKLEY TO BUY REMAINING STAKE IN REINSURER
Date: 21 July 1995
By Bloomberg News
Bloomberg News
The W. R. Berkley Corporation said yesterday that it was buying the 40 percent stake in Signet Star Holdings Inc. held by the General Re Corporation, which will give W. R. Berkley a 100 percent interest in Signet. Signet is among the 20 largest reinsurance companies in the United States. W. R. Berkley will buy the stake by issuing to General Re about 450,000 shares of Series B cumulative redeemable preferred stock in W. R. Berkley, with a combined liquidation value of $68.8 million. W. R. Berkley is an insurance company based in Greenwich, Conn. General Re, the parent of the General Reinsurance Corporation, is based in Stamford, Conn.
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FOXMEYER SIGNS CONTRACT TO SUPPLY DRUGS TO RITE AID
Date: 20 July 1995
By Bloomberg News
Bloomberg News
The Foxmeyer Corporation, a drug wholesaler based in Dallas, said yesterday that it had signed a contract with the Rite Aid Corporation valued at $750 million. The deal, which will make Foxmeyer the largest supplier of drugs to Rite Aid, will cover about two-thirds of Rite Aid's 2,829 stores in 23 states. Foxmeyer is a subsidiary of the Foxmeyer Health Corporation, a provider of health care products and information services. The company said the deal could add as much as $300 million to its annual revenue. Rite Aid, based in Camp Hill, Pa., had sales of $4.5 billion in the year that ended March 4, 1995.
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HILLS STORES TO TAKE BIG SECOND-QUARTER CHARGE
Date: 20 July 1995
By Bloomberg News
Bloomberg News
The Hills Stores Company said yesterday that it would take a second-quarter charge of $43.6 million, or $4.19 a share, to cover $32 million in severance payments made to a consultant and six senior executives, including the company's former chief executive, Michael C. Bozic. The executives resigned earlier this month after losing a takeover battle with Dickstein Partners Inc., a New York investment firm. Hills, a retailer based in Canton, Mass., said three of the executives had since returned to the company. E. Jackson Smailes, a former general merchandise manager, was named president and acting chief executive; Robert Stevenish, a former executive vice president of stores and distribution, is now chief operating officer, and William K. Friend is now vice president-secretary and corporate counsel.
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Federal-Mogul Purchase
Date: 21 July 1995
By Bloomberg News
Bloomberg News
The Federal-Mogul Corporation plans to acquire the Centropiezas Group, an auto parts retailer based in Puerto Rico, the company said today. Terms were not disclosed. The Puerto Rican chain has 32 retail outlets and annual sales of about $40 million.
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