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19th of January 1995 News
Notícias como apareceu na primeira página do New York Times em 19 de janeiro de 1995
Woman in the News: Elizabeth Peterken McCaughey; Taking On a Challenge
Date: 19 January 1995
By Ian Fisher
Ian Fisher
When she wanted to sidestep a question during the campaign, Betsy McCaughey would often smile and say, "I'm an expert in policy, not politics." Now, as New York's Lieutenant Governor, Ms. McCaughey, a constitutional scholar with no previous experience in government, has taken on her first test as a policy maker with one of the state's knottiest and most expensive problems: revamping the $19 billion Medicaid system, which provides health care for the poor, disabled and elderly.
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Britons Ask Whither The Throne?
Date: 19 January 1995
By John Darnton
John Darnton
"No man is a hero to his valet," remarked Mme. Cornuel, the 17th-century Parisian hostess. The scalding truth of that statement was brought home with a literal vengeance this week for the British royal family. Stealing the march on its rivals, a weekend tabloid, News of the World, plied the Prince of Wales's valet of 15 years with a large sum, reportedly in six figures, to spill intimate details of his master's bedchamber.
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PAUL REVERE IN DEAL ON DISABILITY INSURANCE SALES
Date: 19 January 1995
By Bloomberg News
Bloomberg News
In a move to increase its national sales network, the Paul Revere Life Insurance Company said yesterday that it had agreed to sell disability insurance through agents of the New York Life Insurance Company. Paul Rever, based in Worcester, Mass., said the agreement was expected to result in $12.7 million in new sales annually. The move builds on Paul Revere's 12-year strategy of selling disability policies through other companies.
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STANHOME TO QUIT DIRECT SALES BUSINESS IN U.S.
Date: 19 January 1995
By Bloomberg News
Bloomberg News
Stanhome Inc. said yesterday that it would leave the direct-sales business in the United States by licensing the domestic operations of its Stanley Home Products unit to CPAC Inc. Terms of the agreement were not disclosed. As a result, Stanhome said it would take a fourth-quarter charge of $3.5 million before taxes, which would equal 11 cents a share after taxes. About 150 jobs would be eliminated, the company said. Stanley Home Products sells household cleaning products like brooms and mops. Stanhome's shares were down $1 at $29.75. CPAC, based in Leicester, N.Y., makes specialty chemicals for the imaging business and recently moved into direct sales to consumers with its purchase of the Fuller Brush Company.
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F.T.C. SEEKS TO BAR ACQUISITION BY BOSTON SCIENTIFIC
Date: 20 January 1995
By Bloomberg News
Bloomberg News
The Federal Trade Commission voted unanimously yesterday to take court action to block the proposed $100 million acquisition of Cardiovascular Imaging Systems Inc. by the Boston Scientific Corporation. Boston Scientific, which had offered $10.50 a share for Cardiovascular Imaging of Sunnyvale, Calif., said it would fight the action by the F.T.C. In Nasdaq trading, shares of Cardiovascular Imaging fell $2.375, or 24 percent, to $7.25. The F.T.C. has been concerned about the impact of the merger on the market for catheter devices that use sound waves to examine arteries and diagnose cardiovascular disease.
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TIMES MIRROR SALE OF CABLE SYSTEMS WINS APPROVAL
Date: 20 January 1995
By Bloomberg News
Bloomberg News
Shareholders of the Times Mirror Company approved the media giant's $2.3 billion sale of its cable systems to Cox Communications Inc. at a special meeting yesterday. More than 84 percent of the stockholders voted to approve the sale, which had already received regulatory approval. Times Mirror, based in Los Angeles, expects to complete the sale on Feb. 1. Times Mirror signed a definitive agreement last June to sell its cable operations to the Atlanta-based Cox, which will become the fourth-largest United States cable operator. Under terms of the agreement, Times Mirror shareholders, other than the Chandler Trusts that control the company, will receive shares in a reorganized Times Mirror and about 20 percent of the stock of Cox Communications.
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MORGAN STANLEY SEES DROP IN FOURTH-QUARTER EARNINGS
Date: 20 January 1995
By Bloomberg News
Bloomberg News
Morgan Stanley Group Inc. said yesterday that its profits for the fourth quarter, which ends this month, would be "substantially below" the $118 million the company earned in the third quarter. Morgan, the nation's fourth-largest securities firm, said the decline in profits resulted from "difficult conditions in fixed-income and equity markets, including emerging markets." The firm will report its earnings on Feb. 28. Analysts expected the firm to earn $1.66 a share, according to a survey by Institutional Brokers Estimate System. The firm earned $1.33 a share in the third quarter. Shares of Morgan declined $1.25, to $62.875, on the New York Stock Exchange.
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FORD OFFERS $500 LEASE INCENTIVE FOR ITS WINDSTAR
Date: 19 January 1995
By Bloomberg News
Bloomberg News
In a bid to spur sales of its new Windstar mini-van, the Ford Motor Company is offering a $500 discount until April 3 to consumers who lease the vehicles. This is the first time that Ford is offering a national consumer incentive program on the Windstar, which was introduced last March. There have been some regional incentive programs. Ford was forced last month to close its Windstar plant in Oakville, Ontario. The company said that it had run out of some key parts. Ford also used the break to reduce unsold supplies of the mini-vans. As of Dec. 31, Ford had a 94-day supply of Windstars on hand, up from 89 days at the end of November, a company spokeswoman said. A supply equal to about 65 days is considered normal this time of year.
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UNION PACIFIC TRIES TO FORCE SANTA FE TO CONSIDER ITS BID
Date: 19 January 1995
By Bloomberg News
Bloomberg News
The Union Pacific Corporation asked a Delaware court yesterday to force the Santa Fe Pacific Corporation to consider its $3.6 billion hostile bid equally with Burlington Northern Inc.'s friendly offer. Union Pacific, based in Bethlehem, Pa., asked the Delaware Chancery Court to strike down Santa Fe's "poison pill." Poison pills are intended to dilute the stake of an unwanted suitor and make a takeover prohibitively expensive. Union Pacific also asked the court to invalidate a $50 million breakup fee and $10 million reimbursement provision Santa Fe must pay if Burlington Northern is outbid. A Santa Fe spokeswoman said the suit was "without merit." The move by Union Pacific comes a day after it raised its bid for Santa Fe to $18.50 a share in cash.
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MCDONNELL DOUGLAS CORP. (MD,N)
Date: 19 January 1995
By Bloomberg News
Bloomberg News
The McDonnell Douglas Corporation, posting record results for its military aircraft business, said yesterday that it had a fourth-quarter profit of $165 million, compared with a loss of $132 million in the quarter a year earlier. Earnings equaled $1.39 a share, compared with a loss of $1.12 in the period in 1993. Per-share figures for both periods reflect a 3-for-1 stock split. Revenue was $3.51 million, down 3.3 percent from $3.63 billion.
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