NEWS SUMMARY: THURSDAY, MAY 21, 1987
Date: 21 May 1987
LEAD: INTERNATIONAL A3-14, A18-21 The Stark's equipment failed to detect the launching of Iraqi missiles. The attack on the frigate Stark was first indicated by a lookout, according to the captain of the guided-missile craft. Page A1
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CITICORP'S DEFIANT LEADER: JOHN SHEPARD REED
Date: 21 May 1987
By Robert A. Bennett
Robert Bennett
LEAD: John S. Reed, Citicorp's 48-year-old chairman, has finally made his mark.
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NEWS SUMMARY: WEDNESDAY, MAY 20, 1987
Date: 20 May 1987
LEAD: International A3-15, B10-12
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Wendy's Layoffs
Date: 21 May 1987
Reuters
LEAD: Wendy's International Inc. said it would eliminate 160 positions, or 20 percent, of its nationwide administrative staff. About half of the cuts will be made at its headquarters here. The company said the action would improve profitability by streamlining its administration and reducing restaurant development expenditures.
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Schwab Offering
Date: 20 May 1987
Special to the New York Times
LEAD: The Charles Schwab Corporation, the discount brokerage based here, said it was considering an initial public offering of common stock. The company said it would not comment on the size, timing or any other aspects of the offering before filing a prospectus with the Securities and Exchange Commission.
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Zenith Ruling
Date: 20 May 1987
Reuters
LEAD: Zenith Laboratories Inc. said a civil action against it by the Bristol-Myers Company charging infringement of a patent had been terminated by a consent order by the United States District Court for New Jersey. As previously reported, Bristol-Meyers charged that Zenith had infringed on its patent covering a form of Cefadroxil, an antibiotic.
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American Airlines
Date: 21 May 1987
LEAD: American Airlines said it would follow United Airlines' example and raise fares effective June 3. The airline said it would increase one-way fares by $10 for unrestricted coach seats and by $15 for first-class travel. The step by American makes it likely that other airlines will follow suit. United had announced its similar increases on Tuesday.
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Air Atlanta Move
Date: 21 May 1987
Special to the New York Times
LEAD: Air Atlanta, the black-owned airline that filed for bankruptcy protection last month, may be forced to liquidate its few remaining assets as soon as Friday, when a creditors' meeting is scheduled, according to lawyers involved in the bankruptcy proceedings. The airline had been seeking additional capital and was in talks with the Texas Air Corporation and KLM Royal Dutch Airlines, but officials said talks on both fronts had broken off.
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9.9% Tiffany Stake
Date: 20 May 1987
Special to the New York Times
LEAD: A British pension fund said that it had acquired a 9.9 percent stake in Tiffany & Company, the New York-based jewelry and silversmith company. The fund - the Merchant Navy Officers Pension Fund - said in a filing with the Securities and Exchange Commission that it bought its entire holding of 829,500 shares of Tiffany common stock between May 5 and May 11 at $21.62 to $23.12 a share, for a total of about $18.6 million.
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MAXWELL'S SUCCESS IS UNCERTAIN
Date: 20 May 1987
By Edwin McDowell
Edwin McDowell
LEAD: Wall Street professionals said yesterday that there were numerous possible outcomes to Robert Maxwell's takeover bid for Harcourt Brace Jovanovich Inc., a leading publishing company.
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