Il 27 luglio 1994 era una mercoledì sotto il segno zodiacale del ♌. Era il 207 ° giorno dell'anno. Il presidente degli Stati Uniti era William J. (Bill) Clinton.
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27th of July 1994 News
Notizie come è apparso sulla prima pagina del New York Times il 27 luglio 1994
THE MEDIA BUSINESS: Advertising; As the Federated-Macy merger takes shape, concerns about discounts and spending cutbacks.
Date: 27 July 1994
By Laurence Zuckerman
Laurence Zuckerman
THE saga about the future of the Macy's department store chain looks as if it has finally been settled. Next week, Federated Department Stores, which owns Bloomingdale's and Abraham & Straus, among other famous names, will file a blueprint in Federal bankruptcy court detailing how it plans to merge with the chain's parent, R. H. Macy & Company.
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The Contrasts of Clinton, Only a TV Click Apart
Date: 27 July 1994
By Michael Wines
Michael Wines
Bill Clinton's Presidency has always spun from its reel so fast, with scenes of achievement and grace swiftly eclipsed by scenes of dishevelment and awkwardness. So it did not seem at all odd today to see both on the screen at once, separated only by the click of a tuner. There was Mr. Clinton in the White House between Yitzhak Rabin and King Hussein, basking in his second Middle East diplomatic triumph, hearing Jordan's leader say he was "proud to have you as our partner." And there -- click -- was Mr. Clinton's counsel, Lloyd N. Cutler, parked before a microphone, telling a House committee investigating Whitewater that Administration officials had done nothing wrong, really, but that they shouldn't have done it.
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Times Co. Profit Up 53% As Ad Volume Increases
Date: 27 July 1994
By Michael Quint
Michael Quint
The New York Times Company said yesterday that it earned $34.3 million in the second quarter, up 53.2 percent from profits of $22.4 million a year earlier. Most of the increased profit resulted from increases in advertising and circulation revenue at The New York Times and the company's regional newspaper group, as well as improvements in its magazine and broadcasting groups, the company said. Total revenues for the company rose 31.4 percent, to $635.5 million, from $483.6 million, mainly because of the inclusion of The Boston Globe, which was acquired last October.
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OCTEL TO BUY A PETROLEUM ADDITIVES BUSINESS
Date: 28 July 1994
By Bloomberg News
Bloomberg News
The Great Lakes Chemical Corporation of West Lafayette, Ind., said yesterday that its Octel Associates affiliate had agreed to purchase the assets of the petroleum additives business of E. I. du Pont de Nemours & Company for an undisclosed amount. The transaction is expected to be completed late in the third quarter. "This latest action significantly broadens Octel's position as a leading producer and marketer of petroleum additives," said Robert McDonald, chief operating officer of Great Lakes.
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SCHERING-PLOUGH COMPLETES STOCK BUYBACK
Date: 28 July 1994
By Bloomberg News
Bloomberg News
The Schering-Plough Corporation said yesterday that it had completed a $500 million stock buyback program in which it bought about 8.3 million common shares. The drug maker began the buyback, first announced in February 1993, because market conditions made the stock "a good value," Schering-Plough's chairman and chief executive, Robert P. Luciano, said. Schering-Plough will use the shares for general purposes, including employee-benefit plans, the company said. As of June 30, Schering-Plough had 192 million common shares outstanding. Shares of Schering-Plough slipped 50 cents, to $62.625, on the New York Stock Exchange.
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Shell Unit Sells Assets To Gencor
Date: 27 July 1994
By Bloomberg News
Bloomberg News
Gencor Ltd., a large South African mining company, has agreed to acquire a major portion of the Royal Dutch/Shell Group's Billiton metals and mining assets for about $1.22 billion, the two companies said today. Shell, the world's largest oil company, said the transaction would result in a $170 million after-tax charge against its second-quarter earnings, which will be offset by gains from other sales.
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UNION CARBIDE AUTHORIZES MORE SHARES FOR REPURCHASE
Date: 28 July 1994
By Bloomberg News
Bloomberg News
The Union Carbide Corporation said yesterday that its board had authorized the repurchase of up to 10 million additional shares, bringing the total number of shares authorized for repurchase to 20 million. The share repurchases are intended to offset any earnings dilution caused by the exercise of employee stock options. Union Carbide is a chemicals and plastics company based in Danbury, Conn. Its shares rose 75 cents, to $27.75 yesterday on the New York Stock Exchange.
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PEPSICO DROPS SHARE BUYBACK, CUTS INVESTMENTS
Date: 28 July 1994
By Bloomberg News
Bloomberg News
Pepsico Inc. officials said yesterday that they were dropping their program to repurchase the company's shares and scaling back on big investments. The executives said the company placed an unusual emphasis on one measure of the company's debt load: a market value ratio. The company's treasurer, Randy Barnes, said Pepsi wanted its total debt to be between 20 percent and 25 percent of its market value -- Pepsi's stock price multiplied by the number of shares outstanding -- plus its debt. In December, Pepsi's ratio stood at 22 percent, within the target range. Since then, the company's stock price has tumbled, and the ratio soared to 30 percent by June 11.
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MGM GRAND TO REVIVE LUXURY AIRLINE SERVICE
Date: 27 July 1994
By Bloomberg News
Bloomberg News
MGM Grand Inc. will revive its luxury airline, MGM Grand Air, to operate scheduled flights between Los Angeles, New York and Las Vegas, Nev., beginning Sept. 8, the company said yesterday. The hotel operator said its new Grand Class service would include two daily flights each way between New York and Los Angeles, with a third daily flight each way Thursday through Sunday with a stop in Las Vegas. MGM Grand said its fleet of six airplanes had been refurbished at a cost of $1 million per plane. The flights will feature private staterooms, bars and dining tables. The airline became a charter service after MGM Grand halted scheduled flights at the end of 1992.
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UNITED AIRLINES TO EXPAND TRANS-PACIFIC SERVICE
Date: 27 July 1994
By Bloomberg News
Bloomberg News
United Airlines said yesterday that it would expand its service across the Pacific Ocean after the opening of a new airport in Osaka, Japan, on Sept. 4. The expansion is the first big scheduling change since the carrier became an employee-owned airline on July 12. United will expand its current four-day-a-week service from Honolulu to Osaka to daily service and will add new daily service from Los Angeles to Osaka beginning Sept. 30. Service linking Osaka with Guam and Saipan is scheduled to begin Dec. 1. Current daily service will continue from San Francisco to Osaka.
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