Il 25 agosto 1994 era una giovedì sotto il segno zodiacale del ♍. Era il 236 ° giorno dell'anno. Il presidente degli Stati Uniti era William J. (Bill) Clinton.
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25th of August 1994 News
Notizie come è apparso sulla prima pagina del New York Times il 25 agosto 1994
All Haitians Are Tuned In to the Rumor Mill
Date: 25 August 1994
By Larry Rohter
Larry Rohter
The story spread like wildfire: a secret underground pipeline had been built under the border and was pumping gasoline from the Dominican Republic into Haiti, defying international sanctions. That fanciful tale going around this month was then succeeded by reports of dozens of clandestine laboratories being built in the countryside to make poison for use against American invaders. Millions of Haiti's people live beyond the reach of newspapers, television and even radio, but everyone here, from illiterate peasants to the rich, has a lifetime subscription to the flourishing word-of-mouth network known as "telediol," or "mouth television." Part rumor mill, part oral news service, telediol is one of the most accessible and effective means of communication for Haitians.
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Webco Shares Plunge 44%
Date: 26 August 1994
By Bloomberg News
Bloomberg News
Shares of Webco Industries plunged 44 percent today after the company said it had overstated its profits. Webco, which makes carbon steel tubing, said it understated raw material costs in its second and third quarters because of "erroneous" accounting adjustments. In a statement late on Wednesday, the company attributed the error to a misinterpretation of inventory data supplied by new software programs.
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REGULATORS SEEK MORE INFORMATION ON CYANAMID DEAL
Date: 26 August 1994
By Bloomberg News
Bloomberg News
Antitrust regulators requested more information yesterday about the proposed buyout of the American Cyanamid Company by the American Home Products Corporation, threatening to delay the $9.7 billion transaction. The companies said they planned to comply promptly with the request by the Federal Trade Commission. Cyanamid agreed last week to be acquired by American Home through a $101-a-share tender offer scheduled to expire on Sept. 14. Regulators are seeking more information about the products of American Home and Cyanamid, said Louis Cafiero, a spokesman for American Home. Mr. Cafiero declined to elaborate.
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GENERAL AMERICAN TO BUY LIFE INSURANCE UNIT
Date: 25 August 1994
By Bloomberg News
Bloomberg News
The Xerox Corporation agreed yesterday to sell its Xerox Financial Services Life Insurance Company to the General American Life Insurance Company of St. Louis for an undisclosed amount. Xerox, based in Stamford, Conn., has been shedding its financial services units to focus on the core copier business. Shares of Xerox hit a 52-week of high of $107.75 yesterday and then fell back to close unchanged at $106.875. Xerox's life insurance unit, based in Oak Brook Terrace, Ill., has $4.3 billion in assets and more than 130,000 annuity and life insurance contracts.
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BORDEN TO SELL SNACK UNIT TO SPECIAL FOODS
Date: 26 August 1994
By Bloomberg News
Bloomberg News
Borden Inc. agreed yesterday to sell the first of its seven salted snack units, Jays Foods Inc. of Chicago, as part of a reorganization announced in January. Borden said it would sell the division to the Special Foods Company of Chicago, which is controlled by Leonard Japp Sr. and his family. The family sold Jays to Borden in 1986. Terms were not disclosed. Jays, which has 800 employees, makes potato chips and other salted snacks for sale mostly in Illinois, Michigan and Wisconsin. Borden, based in New York, had said for more than a month that it was close to selling its entire salted snacks division, which had sales of $725 million last year. The sale of Jays as a separate unit suggests that Borden could not get an adequate price for the entire operation.
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COMCAST-LIBERTY PURCHASE OF QVC FACES A DELAY
Date: 26 August 1994
By Bloomberg News
Bloomberg News
The Comcast Corporation said yesterday that the Federal Trade Commission had asked it for more information about plans by Comcast and the Liberty Media Corporation to acquire QVC Inc. for $1.42 billion. Comcast, a Philadelphia-based communications company with three million cable television subscribers, declined to specify what information the F.T.C. had requested. It said, however, that the request would extend the waiting period required under Federal antitrust laws by 10 days after Comcast fulfilled the request. The waiting period had been scheduled to expire at midnight on Wednesday. Comcast and Liberty filed separate notifications with the F.T.C. A QVC spokeswoman said yesterday that Liberty had not been asked for additional information at this point. If the acquisition is completed, Comcast will own about 57 percent of the home shopping network based in West Chester, Pa. Liberty would own the remainder.
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BAKER HUGHES TO SELL ENVIROTECH UNIT TO WEIR GROUP
Date: 26 August 1994
By Bloomberg News
Bloomberg News
Baker Hughes Inc. said yesterday that it had signed an agreement to sell its Envirotech Pumpsystems company to Weir Group P.L.C. for $210 million in cash. Baker Hughes, one of the world's largest suppliers of well-drilling equipment and services, said in March that it would sell Envirotech as part of a plan to divest itself of divisions not considered part of its primary business group. Envirotech, which had sales of $220 million last year, provides specialized pumps to the mining and petrochemical industries and to municipalities. Weir Group, based in Glasgow, Scotland, supplies engineering products and services, including a wide range of industrial pumps.
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GLEASON REJECTS OFFER FROM FIELD POINT CAPITAL
Date: 25 August 1994
By Bloomberg News
Bloomberg News
The Gleason Corporation said yesterday that it had rejected an unsolicited offer from the Field Point Capital Management Company to acquire Gleason for $18 a share. Gleason, based in Rochester, is a maker of gear-production equipment. Shares of Gleason, which jumped more than $3 on Aug. 18, the day after the offer was disclosed, hit a high for the year yesterday before closing at $16.25, up 87.5 cents, on the New York Stock Exchange.
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GREYHOUND OFFERS 3 BOARD SEATS TO INVESTOR GROUP
Date: 25 August 1994
By Bloomberg News
Bloomberg News
Greyhound Lines Inc. said yesterday that it had invited three nominees from a dissident investor group to join its board in an attempt to avert a proxy fight. Nominees of Connor, Clark & Company of Toronto, which owns 18.31 percent of Greyhound's shares, will take the seats on the nine-member board. Greyhound, based in Dallas, offered two board seats last weekend to Connor, Clark if it would cooperate with Greyhound's turnaround plan, which includes focusing on shorter bus routes. Gerald Connor, chief executive of Connor, Clark, said in a statement that it looked forward to helping "return Greyhound to profitability as quickly as possible." Greyhound lost $61.4 million in the first half of this year.
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GATES TO SELL 1.23 MILLION OF HIS MICROSOFT SHARES
Date: 25 August 1994
By Bloomberg News
Bloomberg News
The chairman and chief executive of the Microsoft Corporation, Bill Gates, intends to sell about 1.23 million shares of Microsoft stock, according to a Federal filing. The shares are worth more than $68 million, based on Microsoft's closing trading price yesterday of $55.75, up 25 cents. Microsoft stock reached a record high of $56.375 on Tuesday. Officials at Microsoft, the world's largest personal computer software company, would not comment on the filing. According to Microsoft, Mr. Gates owned more than 149.4 million Microsoft shares as of May 5, or about 24 percent of the shares outstanding. At current trading prices, the stake is worth about $8.3 billion. Paul Allen, a co-founder of Microsoft with his high-school friend Mr. Gates, also intends to sell 200,000 shares, worth more than $11.1 million.
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