Genafspiller lørdag den 26. februar 1994

COMPANY NEWS: The Olympics Meddle; News Service Falls Victim To a Lutz That Disrupts

Date: 26 February 1994

By Diana B. Henriques

Diana

At 4:16 P.M. yesterday, the 35,000 electronic monitors that supply Bloomberg Business News services and securities prices to subscribers across the country ground to a momentary halt at a critical time -- just as final stock and bond prices were being reported in New York. The problem: So many people were simultaneously trying to read a scrap of news that had flashed across the monitors.

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We Pay for News. We Have To.

Date: 26 February 1994

By Bill O'Reilly

Bill O'Reilly

Out of the hysteria surrounding the Tonya Harding - Nancy Kerrigan affair has come another story, more important but no less hysterical. That story is "checkbook journalism": the practice of paying for news interviews. This is not a new story, but now it is out of the news closet. Syndicated television magazines do, on occasion, pay for information. Many despise this; I am not thrilled about it myself.

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Play du Jour

Date: 27 February 1994

By Mary Jo Salter

Mary Salter

The alarm jolts me awake: it's 6:55 A.M., I'm living in Paris, I wish I had an entirely new wardrobe -- yes, it's all coming back. If I hustle, I'll catch last night's "CBS Evening News," broadcast in English (with French subtitles) at 7:00 on Canal Plus. "Pinup," the screen reads in English. But the 15 seconds that precede Dan Rather and Connie Chung speak silent French. Will the girl of the day be dressed as a maternity-ward nurse, cradling a bouncing blue teddy bear, or as a geisha, in half-open kimono and dagger hairpins? Or maybe we'll have a rerun of the milkmaid, a case of glass bottles in hand -- so old-fashioned she still delivers and so modern she doesn't bother to wear a shirt. But no, the appeal of the thing is that you need never encounter a girl, or even the concept of a girl, twice. She's a one-morning stand.

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SUBSIDIARY OF WHEELABRATOR ACQUIRES MEMTEK

Date: 26 February 1994

By Bloomberg News

Bloomberg News

Wheelabrator Technologies Inc. said yesterday that its engineered systems unit had acquired the Memtek Corporation, a maker of wastewater treatment systems, for an undisclosed price. Memtek, a subsidiary of the Horsehead Resource Development Company, will continue to operate its main plant in Billerica, Mass., as well as sales offices in Medford, N.J.; Canton, Mich.; Orange and Moorpark, Calif., and Singapore, Wheelabrator said. A Wheelabrator spokeswoman declined to discuss terms of the acquisition or provide details of Memtek's 1993 revenue.

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COACHMEN OFFERS PART OF AMBULANCE OPERATION

Date: 26 February 1994

By Bloomberg News

Bloomberg News

Coachmen Industries, a maker of recreational vehicles and ambulances, said yesterday that it had agreed to sell part of a struggling Georgia operation to a group of private investors. Coachman, based in Elkhart, Ind., will sell the inventory and fixed assets of its Southern Ambulance Builders Inc., based in LaGrange, Ga., for an undisclosed price to a group of Georgia investors. Coachmen will keep the real estate and lease it to the investors. Southern Ambulance makes between 250 and 300 ambulances annually. A large portion of its sales are exported to the Middle East.

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A. G. EDWARDS BOARD CLEARS REPURCHASE OF SHARES

Date: 26 February 1994

By Bloomberg News

Bloomberg News

A. G. Edwards Inc., the St. Louis-based securities brokerage firm, said its board had authorized the repurchase of as many as 1.5 million shares of its common stock. A. G. Edwards has about 59.8 million shares outstanding. The company also said it expected its revenue in the fiscal year that ends on Monday to top $1.2 billion and earnings to exceed $150 million, both records. Shares of A. G. Edwards were up 50 cents, at $22.125, on the New York Stock Exchange. A. G. Edwards said the repurchased shares would be used for its employee stock ownership plans.

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FIGGIE INTERNATIONAL SELLS ITS ADVANCE SECURITY UNIT

Date: 26 February 1994

By Bloomberg News

Bloomberg News

Figgie International Inc. said yesterday that it had sold its Advance Security unit to closely held U.S. Security Associates of Morristown, N.J. Figgie, based in Willoughby, Ohio, did not disclose terms of the transaction. "The sale of Advance Security, coupled with our planned sale of other selected noncore businesses, represents one phase of the turnaround program we are putting in place," said Harry E. Figgie Jr., chairman and chief executive. Cash-pressed Figgie has been trying to sell all or parts of certain units so it can concentrate on its manufacturing and industrial service businesses.

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Confidence Index Declines

Date: 26 February 1994

By Bloomberg News

Bloomberg News

The University of Michigan's consumer sentiment index for February fell to 93.2 from 94.3 in January, people with access to the survey said yesterday. The preliminary February index, released two weeks ago, was 92.9.

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Posner and Son Lose Federal Court Appeal

Date: 26 February 1994

By Bloomberg News

Bloomberg News

The financier Victor Posner and his son Steven Posner have lost an appeal seeking to overturn a lower court's ruling that curtailed their dealings with public companies. A Federal appeals court affirmed a United States district court order barring the two men from serving as officers or directors of public companies and ordering them to repay $3.86 million taken from a company they had acquired illegally.

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Corrections

Date: 26 February 1994

An article on the Media Business page on Monday about the military newspaper Stars and Stripes misidentified the first civilian editor of the paper's European edition. He was Ken Zumwalt, managing editor from 1946 to 1955, not Bern Zovistoski, the current editor.

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