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Date: 10 October 1991
Members of Congress are widely perceived by the public to be corrupt, pampered by unnecessary perquisites and arrogant about their power, the latest New York Times/CBS News Poll finds. A striking 83 percent of American adults say they believe that the scores of legislators who overdrew their House bank accounts did so not by mistake but because they knew they could get away with doing so.
Date: 10 October 1991
By David E. Rosenbaum
David Rosenbaum
Members of Congress are widely perceived by the public to be corrupt, pampered by unnecessary perquisites and arrogant about their power, the latest New York Times/CBS News Poll indicates. A striking 83 percent of American adults said they believe that the scores of legislators who overdrew their House bank accounts did so not by mistake but "because they knew they could get away with it," the poll found.
Date: 09 October 1991
INTERNATIONAL A3-9 A new Haitian President was named by the nation's legislature to replace the Rev. Jean-Bertrand Aristide, who was deposed in a violent coup last week. The provisional leader is a Supreme Court Justice. Page A1 Tougher economic sanctions on Haiti were passed by the Organization of American States. The group also considered an offer to send a an observer force to Port-au-Prince to help restore democracy. A3
Date: 10 October 1991
International A3-18 Zagreb and Belgrade have changed since the civil war broke out in Yugoslavia. The emotional fallout from the war has scoured away much of the charm of both capital cities. Page A1
Date: 09 October 1991
* Alliant Techsystems, Minneapolis, received three production contracts totaling $256 million from the Army's Armament Munitions and Chemical Command. * Digital Equipment Corp., Maynard, Mass., said it would form an information technology unit in Poland, to be operating by early next month.
Date: 10 October 1991
* Andrew Corp., Orland Park, Ill., a communications concern, signed a joint-venture agreement with the Moscow Metro subway system to develop and provide a fiber-optic telecommunications network for the Moscow metropolitan area. Moscow Metro will own 69 percent of the joint venture and Andrew 31 percent. * Associated Natural Gas Corp., Denver, an oil and gas company, entered a $34.2 million agreement with Apache Corp., Denver, an exploration company, to buy certain natural gas processing and pipline components.
Date: 09 October 1991
Reuter
Reuter
The Kellogg Company said it had received approval from India to make ready-to-eat cereal products for sale there. The company said it planned to sell Corn Flakes, as well as other cereal products. A Kellogg spokesman said the company had no large international competitors in India, which has a population of about 900 million. Construction of a cereal production plant is expected to begin in 1992 near Bombay.
Date: 09 October 1991
By Michael Lev
Michael Lev
The HomeFed Corporation, the ailing San Diego-based savings and loan company, said today that it expected to set aside a large amount of money in the third quarter to cover mounting real estate and loan losses. The announcement added support to analysts' contentions that the institution was beyond repair and would eventually be seized by the Government. HomeFed, which operates HomeFed Bank branches throughout California, did not specify the amount to be set aside, but it said the move would be drastic enough to wipe out its capital base -- the institution's buffer against losses. Stockholders' equity, a common measure of a company's health, may also be eliminated by the move.
Date: 10 October 1991
Cray Research Inc. said it had signed a letter of intent to buy the business and all other assets except for land, buildings and accounts receivable of Floating Point Systems Inc. for $3.25 million. Floating Point, in Portland, Ore., which filed for Chapter 11 bankruptcy protection on Monday, has not been profitable in four years. It grew rapidly in the 1970's and early 80's by selling add-on boxes that enabled general-purpose computers to perform like Cray's supercomputers. But Floating Point stumbled in the late 1980's when other companies introduced computers that offered roughly one-fourth the speed of a Cray at one-tenth the price.
Date: 10 October 1991
MIPS Computer Systems Inc. said third-quarter revenue from technology licensing would be lower than expected, which would increase its loss from operations anticipated for the quarter ended Sept. 30. MIPS designs microprocessors that it licenses other companies to make, or to incorporate in computers. MIPS also makes its own computers, sales of which were on target for the quarter.