Reluare joi, 4 februarie 1993

7 Journalists Drop Plans to Leave The News

Date: 05 February 1993

Seven reporters and columnists who had announced they were leaving The Daily News said yesterday that they would stay after all. The seven, including the columnists Juan Gonzalez and Jerry Capeci, had opted for a severance package offered by the publisher, Mortimer B. Zuckerman, last month in the midst of his takeover of The News and his bitter battle with the Newspaper Guild of New York. The guild is the only one of 10 unions at The News that remains without a contract with Mr. Zuckerman.

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The Post Attracts Others Wanting to Buy or Invest

Date: 04 February 1993

By William Glaberson

William Glaberson

The latest crisis at The New York Post is producing the unlikeliest of results: a line of wealthy people who are interested in buying some or all of the beleaguered newspaper. Steven Hoffenberg, the prospective new publisher, said yesterday that he was not backing away from his promise to buy the newspaper. But he acknowledged that he had talked with several well-financed people who he said also wanted to save the newspaper. Some of those who have expressed interest appear anxious to enter a partnership with Mr. Hoffenberg.

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Clinton to Take Show to Detroit

Date: 04 February 1993

Bill Clinton grew so fond of campaigning on live television over the last year that he will continue the practice as President next week in a one-hour question-and-answer session broadcast from Detroit with audiences in three other cities. Administration officials announced today that the President would travel to Detroit on Feb. 10, for a program that would be simultaneously broadcast on ABC affiliates in Detroit, Seattle, Miami, Atlanta and nationally on the C-Span cable network.

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INSIDE

Date: 05 February 1993

The Dow Leads the Stock Market to Record Highs Propelled by falling American interest rates and exuberant corporate earnings, the stock market surged again yesterday, with the Dow Jones industrial average gaining 42.95 points, to close at a record high of 3,416.74. In just the last two days, the Dow has risen nearly 3 percent in value. Page D1. Germany Central Bank Cuts Key Interest Rate Germany's powerful central bank lowered its major rates yesterday. The surprising German move was meant to reinforce the battered European curency-exchange-rate system, rekindle growth in a flagging economy and silence critics. Page D1. Japan Trade Tally Up Again Japan's exports are rising again, worrying Tokyo about relations with President Clinton. Page A7. Big Jump in Productivity American workers' productivity surged 4 percent in the fourth quarter, the Government said. Page D1. New Pension Problems Some corporations with underfunded pension plans are nonetheless expanding benefits, knowing that the Government will pay if the plans fail, Congressional auditors said. Page D1. From Orbit, a Beam of Light In a Russian experiment, a mirror in space sent a narrow beam of reflected sunlight flashing down to the Earth's dark side, testing the feasibility for much larger mirrors. Page A6. A Cry for Help Unanswered A fourth grader in Harlem wrote in a school essay, "My father raped me." But no action was taken to help her until she told her grandmother weeks later, an investigator said. Page B1. Rebels Keep Fighting in Peru One Peruvian city sees little hope that the Shining Path guerrilla movement will soon be subdued. Page A3.

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15 at Kemper In Defection To Shearson

Date: 05 February 1993

By Bloomberg News

Bloomberg News

The 10 brokers and 5 staff members of the Kemper Securities office in Mount Kisco, N.Y., have defected to Shearson Lehman Brothers, and Kemper has retaliated by canceling Kemper's corporate charge card program with Shearson's parent, the American Express Company. Kemper also filed a claim against Shearson with the New York Stock Exchange seeking damages. "This action goes far beyond competitive recruiting and crosses the line of acceptable industry behavior," James Boris, Kemper's Chicago-based chairman and chief executive, said yesterday.

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AMERICAN GENERAL TO SPLIT STOCK AND RAISE DIVIDEND

Date: 05 February 1993

By Bloomberg News

Bloomberg News

The American General Corporation, the Houston-based financial services company, declared a 2-for-1 stock split yesterday, and raised its quarterly cash dividend 6 percent, to 27.5 cents, after the stock split. The cash and stock dividends are payable on March 1 to shareholders of record Feb. 16. American General, with assets of $40 billion, provides retirement annuities, consumer loans and life insurance. Its stock reached a 52-week high of $61.50 in New York trading yesterday before closing at $60.50, up $1.

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PROPOSED STAKE IN CANADIAN CARRIER CALLED SHORT TERM

Date: 04 February 1993

By Bloomberg News

Bloomberg News

The AMR Corporation, which has offered a capital infusion to Canadian Airlines International Ltd., will divest itself from the carrier as soon as it becomes financially viable, an AMR vice president, Don Carty, told a Canadian Government tribunal yesterday. AMR, which owns American Airlines, has offered about $193 million (United States) for a 33.3 percent stake in Canadian Airlines, Canada's second-largest carrier. In return, Canadian Airlines would shift its seat inventory from the Gemini Group computer reservation system to AMR's Sabre system. The Competition Tribunal is to decide whether PWA can break its contract with Gemini.

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KERKORIAN SAID TO PURCHASE 4 MILLION CHRYSLER SHARES

Date: 05 February 1993

By Bloomberg News

Bloomberg News

The investor Kirk Kerkorian bought 4 million of the 46 million shares sold by the Chrysler Corporation this week to maintain a 10 percent stake in the nation's No. 3 auto maker, according to officials of Bear, Stearns & Company, which handled the purchase. The purchase raises Mr. Kerkorian's total stake in Chrysler to 32 million shares. Officials of Chrysler, which sold the shares at $38.75 each, were not available for comment. A spokesman for Mr. Kerkorian could not be reached.

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CHOCK FULL O' NUTS SELLS PEANUT STAKE TO KLUGE FIRM

Date: 04 February 1993

By Bloomberg News

Bloomberg News

The Chock Full o' Nuts Corporation agreed yesterday to sell its stake in Jimbo's Jumbos Inc. to a partnership controlled by the billionaire John Kluge. Under the agreement, Mr. Kluge's partnership would pay $33.25 million for the 73 percent stake owned by the New York-based coffee company, as part of an offer to acquire all outstanding shares of Jimbo's, a peanut producer based in Edenton, N.C., for $7 each. The shares closed up yesterday $1.375, or 28.2 percent, to $6.25, in Nasdaq trading.

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SALLIE MAE STOCK FALLS AFTER PANEL URGES AID OVERHAUL

Date: 04 February 1993

By Bloomberg News

Bloomberg News

The stock of the Student Loan Marketing Association dropped sharply yesterday after a Congressionally mandated commission called for an overhaul of the nation's college aid system. Sallie Mae is a Government-sponsored enterprise that buys student loans from financial institutions and profits from the spread between its cost of funds and the yield on the loans. Its stock closed down $2.625, at $70.125, on the New York Stock Exchange after trading as low as $67.50. A bipartisan panel report released yesterday suggested that the Federal Government spend an extra $7 billion a year to help students pay for college. It also recommended eliminating the current system for delivering federally insured loan credits to students.

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