Reluare sâmbătă, 29 iulie 1995

CABLETRON SYSTEMS SAID TO BE SEEKING CHIPCOM

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The Chipcom Corportation said yesterday that Cabletron Systems Inc. had said in a filing with the Federal Trade Commission that it might buy more than 50 percent of the stock of Chipcom. If Cabletron, based in Rochester, N.H., buys Chipcom stock, it could create a bidding war for the computer network equipment maker against the 3Com Corporation. 3Com said on Thursday that it would buy Chipcom for about $775 million in stock to create the nation's second-largest maker of computer network equipment. The prospect of a bidding war for Chipcom sent its stock up $6.625, or 18 percent, to $43,875, on volume of almost 2.9 million shares. Officials at Cabletron and the F.T.C. would not comment.

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CHRYSLER TO INCREASE '96 PRICES BY AN AVERAGE OF 1.4%

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The Chrysler Corporation said yesterday that it would raise the price of the 1996 model of its popular Jeep Grand Cherokee by 6.3 percent. The company also plans to cut the price of its new Concorde car by 5.4 percent. On all its 1996 models, Chrysler increased prices by an average of 1.4 percent. The company reported a sharp decline in second-quarter earnings last week, partly as a result of large buyer incentives like rebates to sell vehicles.

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BANK OF BOSTON EXECUTIVE SAYS BANK 'IS NOT FOR SALE'

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The Bank of Boston Corporation, whose chief executive quit Thursday night, "is not for sale," an executive of the bank said yesterday. "We have a great franchise," said Edward O'Neal, who is executive vice president. The resignation of the chief executive and chairman, Ira Stepanian, came less than a week after the embarrassing collapse of a deal to merge with Corestates Financial of Philadelphia. His departure has increased speculation that the Bank of Boston would be acquired Indeed, investors drove the stock of Bank of Boston to a 52-week high yesterday. The shares rose $2.125, to $43.75, on the New York Stock Exchange.

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PETRIE TO DISTRIBUTE PART OF TOYS 'R' US STAKE

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The Petrie Stores Corporation, which is liquidating itself, said yesterday that it would distribute 5.2 million shares of its Toys "R" Us Inc. stock to Petrie shareholders. Shareholders of Petrie will receive one-tenth of a share of Toys "R" Us common stock on Aug. 15 for each Petrie share held as of Aug. 7. After the distribution, Petrie will hold 10.1 million Toys shares. The Toys "R" Us shares are the primary remaining assets of Petrie after it sold its retail operations last December. Additional distributions of Toys "R" Us common stock will be made from time to time when not needed to satisfy Petrie Stores' liabilities.

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International Briefs; Brick Maker's Purchase

Date: 29 July 1995

By Bloomberg News

Bloomberg News

Wienerberger Baustoffindustrie A.G., an Austrian building company that is the world's biggest maker of bricks, said yesterday that it would acquire Sturm, a privately held French construction materials company. While Wienerberger did not disclose the exact price, it said it was between 1 billion schillings ($102 million) and 2 billion. Sturm had 1994 sales equivalent to 1.1 billion Austrian schillings and posted a "respectable profit," Wienerberger said.

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International Briefs; Bank of Osaka Loss

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The Bank of Osaka will sell its building and land at its Tokyo headquarters to raise 17.023 billion yen ($193 million) to write off bad loans held by its three affiliates, the bank said yesterday. The bank reported a loss of 29.625 billion yen for the year ended March 31. It attributed the loss to writing off irrecoverable loans held by its nonbank affiliates, which it plans to liquidate. The sale of Osaka's headquarters is scheduled to take place on Monday, and the bank will continue operating as usual by renting the property from the buyer, the bank said.

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International Briefs; Compagnie de Suez Names Chairman

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The board of Compagnie Financiere de Suez S.A. named Gerard Mestrallet chairman yesterday, leaving analysts divided over whether he could lead the French financial holding company in a direction that would soothe disgruntled shareholders. Mr. Mestrallet, 46, formerly chief executive of Suez's Belgian unit, Societe Generale de Belgique, replaces Gerard Worms, who lost a battle with some large shareholders as he tried to keep the company independent.

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Falling U.S. Bonds Drag Down The Dollar Against the Mark

Date: 29 July 1995

By Bloomberg News

Bloomberg News

The dollar slipped against the German mark yesterday, dragged down by a decline in American bond prices. A report indicating an upswing in consumer confidence prompted the selloff in Treasury securities. Falling bond prices hurt the dollar because when foreign investors sell American bonds, they convert much of the dollar proceeds into their own currencies.

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NEWS SUMMARY

Date: 30 July 1995

International 3-15 RISE OF MEXICO'S DRUG LORDS American demand for illegal drugs has helped a new generation of Mexican traffickers to consolidate their power, carving out an ever larger share of the world's drug trade. 1

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NEWS SUMMARY

Date: 29 July 1995

International 2-4 SHALIKASHVILI'S BOSNIA CRISIS He won praise for the American-led missions in Rwanda and Haiti, but the Balkan conflict has proven a frustrating challenge for Gen. John Shalikashvili, Chairman of the Joint Chiefs of Staff. 1 CROATIAN TROOPS ADVANCE Croatian forces were reported to be pressing forward through Serbian-held territory in a possible campaign to regain their own land. 4 AMID WAR, ORDINARY LIFE A Croatian town near the front between Government forces and Serbian rebels tries to maintain a semblance of normalcy. 4 HUNGARIAN PARTY ASCENDANT By expressing nationalist yearnings in an uncertain post-Communist world, a small, century-old political party is making a comeback. 2 U.S. OVERTURES TO CHINA Hoping to halt the deterioration in its relations with China, the Clinton Administration has offered two positive gestures but ruled out the one concession Beijing wants. 3 VIETNAM ENTERS ASEAN Vietnam was admitted to the Association of Southeast Asian Nations, the first Communist nation granted membership since it was founded 28 years ago. 3 ISRAEL TARGETS HAMAS LEADER Israel would like to see the extradition from the United States of a man identified as a leader of the militant Islamic movement Hamas. 3 Moscow Journal: Infertility clinics seek a few, very good men. 2 National 5-8 JURY REJECTS EXECUTION A jury in Union, S.C., quickly rejected the death penalty for Susan Smith, who was convicted of drowning her two young sons. She was sentenced to life in prison and will be eligible for parole in 30 years. 1 GOODBYE TO FREE LUNCH The Senate voted to prohibit its members from getting unlimited lunches and trips from lobbyists. In a unanimous vote, the new rules were adopted to set a $50 maximum for any single gift or meal. 1 ENVIRONMENTALIST VICTORY Environmentalists won their first big victory in the House this year as lawmakers narrowly rejected a Republican proposal to limit enforcement of pollution laws. 1 WHAT CLINTON KNEW ABOUT RAID Webster L. Hubbell, the former Justice Department official, testified at a Congressional hearing that the President never pushed officials to use tear gas in the assault on the Branch Davidians in 1993. 6 SHUTTLE FLIGHT DELAYED The next flight of a space shuttle, scheduled for Aug. 5, has been postponed indefinitely because of scorching of critical seals in the booster nozzles. 8 CHICAGO PREPARES FOR HEAT Chicago's Mayor is ready to declare a heat emergency if temperatures soar, as expected, into the upper 90's this weekend. 5 ANOTHER FAMILY MANIFESTO President Clinton outlined a 14-point "American Family Values Agenda" including a higher minimum wage and a national crusade against teen-age pregnancy. 6 HITTING THE ROCK PILE Felons in chains will again be breaking rocks under a searing sun in Alabama as part of the state's get-tough policy on convicts. 5 Metro Digest 21 DISNEY'S 42d STREET DEAL Officials, development experts and real estate executives shed light on how the Walt Disney Company was able to get government subsidies to renovate the New Amsterdam theater and also influence other projects planned for 42d Street. 1 HYDE PARK TO F.D.R.: NO SMOKING Residents are objecting to a plan to adopt the famous silhouette of Franklin D. Roosevelt with a cigarette holder clenched between his teeth as Hyde Park's symbol. 1 Business Digest 34 Arts/Entertainment 9-15 Writers in World War II. 9 Music: Patti Smith.9 Dog Star and Keanu Reeves. 11 Saxophone improvisation. 11 Rage from Filter. 11 Six pianists for Mozart. 13 Dance: Alternative moves.13 Television: "Sahara" remake. 14 Sports 28-32 Baseball: Yanks get Cone and Sierra in separate trades. 29 Mets trade Bonilla. 29 Columns: Rhoden on boxing. 29 On Baseball. 31 Football: Cross plays in pain. 29 Jets wait on receiver. 32 Tennis: The Seles reception. 32 Sports People: 28 Obituaries 27 Miklos Rozsa, composer for movies Ted Hook, dancer and restaurateur Editorials/Op-Ed 18-19 Editorials Rezoning the sex shops. Too hot to cool down. Fear in the sky. Megan's law, rewritten. Letters Frank Rich: Bob Dole's bod. Russell Baker: If not Vegas, L.A. maybe? Shirley D. Peterson: Death to the tax code. Robert V. Levine: Rude? Yeah, you are. Chris Stern Hyman: New York protects bad doctors. Chronicle 20 Bridge 15 Crossword 12

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