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Date: 08 April 1993
By Bill Carter
Bill Carter
NBC has chosen Andrew Lack, a longtime news producer for CBS, to become president of the network's embattled news division. Robert C. Wright, the president of NBC, said yesterday that he had chosen Mr. Lack for his experience in television news, for his integrity and especially for his range of production work in prime-time news programs, which Mr. Wright said would be "our main area of focus over the next few years."
Date: 08 April 1993
A Federal appeals court agreed yesterday to hear an appeal of a judge's order forbidding prosecutors and defense lawyers from discussing the World Trade Center bombing case with news organizations. The Second Circuit Court of Appeals in Manhattan, acting on a request by Martin Garbus on behalf of Nidal A. Ayyad, Mahmud Abouhalima, suspects in the case, and their defense lawyers, ordered all sides in the case to file papers by Monday on the order issued by a Federal District Judge, Kevin T. Duffy. "The court realizes that there is a significant constitutional case," said Mr. Garbus, who had appealed the order arguing that it was unconstitutional prior restraint of speech.
Date: 08 April 1993
By Ronald Sullivan
Ronald Sullivan
The New York Times agreed yesterday to comply with a Federal subpoena, saying investigators would be allowed to interview an assistant metropolitan editor and a news clerk who were the first to handle a letter that investigators said was mailed by suspects charged with the bombing of the World Trade Center. The letter, signed by a group calling itself the Liberation Army Fifth Battalion, was received by The Times on March 2, four days after the bombing. Law-enforcement officials said on March 27 that the letter was authentic and that it provided the first insight into what might have provoked the attack.
Date: 09 April 1993
Lawyers for Rupert Murdoch late Wednesday formally asked the Federal Communications Commission to allow him to buy The New York Post even though his ownership of a television station in New York City, WNYW-TV, Channel 5, would normally prohibit the acquisition. In a 22-page request for a permanent waiver from a regulation barring an owner from holding a newspaper and a broadcast outlet in the same market, William S. Reyner Jr., of the firm of Hogan & Hartson, argued that the bankrupt newspaper would go out of business if Mr. Murdoch did not step in. He asked the commission to rule by June 1.
Date: 08 April 1993
By Bloomberg News
Bloomberg News
William E. Hoglund, executive vice president of the General Motors Corporation, was named chairman of National Car Rental Systems, while the turnaround expert Jay Alix was named chief executive of the beleaguered rental car company. Mr. Hoglund and Mr. Alix will share responsibilities held by Thomas Murphy, 61, who is retiring immediately as chairman and chief executive of National. Robert J. McKenna will continue as president and chief operating officer.
Date: 09 April 1993
By Bloomberg News
Bloomberg News
Lexmark International Inc. of Lexington, Ky., said yesterday that it had agreed to acquire Gestetner Lasers, an Australian maker of laser printers. Terms were not disclosed.
Date: 09 April 1993
By Bloomberg News
Bloomberg News
The Xerox Corporation said yesterday that it planned to build a factory for simple work in Utica, N.Y. Components assembled at the Utica plant will be put into Xerox copiers and printers at the company's factory in Webster, N.Y. The new factory will employ about 50 when it begins production. Xerox decided on the site after conducting a joint study with the Amalgamated Clothing and Textile Workers Union on ways to keep assembly jobs in the United States. The union represents workers at Xerox plants in the Rochester region.
Date: 09 April 1993
By Bloomberg News
Bloomberg News
Three lawsuits have been filed by shareholders of the Lifetime Corporation of Boston, contending that the company breached its fiduciary duty when it rejected a $261 million buyout offer from Abbey Healthcare Group Inc. Lifetime rejected Abbey's offer -- its second -- on Tuesday, saying that the price of $27.50 a share was inadequate. Abbey made an initial offer of $23.50 a share on March 12. On Wednesday, Abbey, of Costa Mesa, Calif., withdrew its sweetened offer, citing the Lifetime board's refusal to meet with Abbey representatives. From the time of the first offer, Lifetime's shares had climbed to $25.25, from $16.75 Yesterday, Lifetime's shares fell $3.625, to $21.625 on the New York Stock Exchange.
Date: 08 April 1993
By Bloomberg News
Bloomberg News
United States Steel and the United Steelworkers of America suspended early contract talks yesterday after they were unable to reach swift agreement on critical wage and benefit issues. United States Steel, a unit of the USX Corporation, the energy and steel conglomerate based in Pittsburgh, entered negotiations March 3 with the union, which represents 16,000 workers at company operations in Pennsylvania, Alabama, Indiana and Minnesota. The current three-year labor contract expires next February.
Date: 08 April 1993
By Bloomberg News
Bloomberg News
The Ford Motor Company said yesterday that it would start selling an all-new version of its Mustang car on Dec. 27, with production to start at the auto maker's Dearborn, Mich., plant on Oct. 4. It will be the first completely new design for the Mustang since 1979. About 6.1 million Mustangs have been sold since the original model was introduced in 1964.