INSIDE
Date: 18 June 1996
More Church Fires
Genafspiller tirsdag den 18. juni 1996
18. juni 1996 var en tirsdag under stjernetegnet for ♊. Det var 169 dag på året. Præsident for USA var William J. (Bill) Clinton.
Hvis du blev født på denne dag, er du 29 år gammel. Din sidste fødselsdag var den onsdag den 18. juni 2025, 358 dage siden. Din næste fødselsdag er torsdag den 18. juni 2026, om 6 dage. Du har levet i 10.950 dage, eller omkring 262.816 timer, eller omkring 15.768.970 minutter eller omkring 946.138.200 sekunder.
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18th of June 1996 News
Nyheder, som de udkom på forsiden af New York Times på 18. juni 1996
News Analysis;Conceding a Conflict
Date: 19 June 1996
By Adam Bryant
Adam Bryant
The announcement yesterday that the Federal Aviation Administration will try to shed its mission of promoting aviation was an acknowledgment that its dual role as industry cheerleader and watchdog had created a credibility gap with the public that could no longer be ignored. Recent airline crashes, including the Valujet crash five weeks ago, gave rise to the increasingly familiar sight of top aviation officials declaring that an airline or aircraft was safe, only to say later that the F.A.A. had serious safety concerns after all.
TV Notes;New Faces in Cable News
Date: 19 June 1996
By Lawrie Mifflin
Lawrie Mifflin
While the veteran 24-hour cable news network, CNN, hums along quietly, its two new competitors, MSNBC and Fox, made some hiring noise this week. Fox News finally grabbed a measure of credibility by hiring a well-known producer and a pioneer of live-interview programming on cable television. Tamara Haddad virtually created "Larry King Live" in 1985; it is CNN's most-watched program. Her new title is executive producer of the Fox News Washington bureau.
COMPANY NEWS;OSICOM TECHNOLOGIES TO ADD BUILDERS WAREHOUSE
Date: 19 June 1996
Dow Jones
Dow Jones
Osicom Technologies Inc. agreed yesterday to buy Builders Warehouse Association Inc. for about $60 million in stock. Osicom, based in Santa Monica, Calif., makes digital video switches for the telecommunications industry. Builders Warehouse, also of Santa Monica, develops advanced networking products. The deal values Builders Warehouse at $15.04 a share, based on current stock prices. Osicom plans to issue 0.94 share for each Builders Warehouse share. In trading yesterday after the news, Builders Warehouse shares slipped 25 cents to close at $14.75, while Osicom shares dropped $1.625 to close at $15.875.
COMPANY NEWS;COMPUSERVE REPORTS SMALLER LOSS
Date: 19 June 1996
Reuters
Compuserve Inc. yesterday reported narrower losses in the fourth quarter than were expected. The company, the nation's second-largest on-line service after America Online, reported a loss of $1.1 million, or 2 cents a share, down from $58.4 million, or 79 cents, in the quarter a year earlier. Analysts had expected a loss of 6 cents a share for the quarter. Compuserve attributed the loss to increased marketing, customer service and network costs, much of it related to its new WOW on-line service. Sales rose 31 percent, to $215.2 million, as the number of on-line subscribers jumped 67 percent over the fiscal year, to more than five million in 185 countries. H & R Block is spinning off Compuserve, and sold a 20 percent stake in April. The earnings were released after the stock market closed. Earlier, shares fell 87.5 cents, to $23.25.
COMPANY NEWS;ST. PAUL TO ACQUIRE UNIT OF ALLSTATE
Date: 19 June 1996
Bloomberg Business News
Bloomberg News
The St. Paul Companies agreed yesterday to acquire the Allstate Corporation's commercial insurance unit for about $180 million in cash. Allstate is focusing on its core businesses of selling life, home and auto insurance. The unit being sold, Northbrook Holdings Inc., based in South Barrington, Ill., includes the Northbrook Property and Casualty Insurance Company, the Northbrook Indemnity Company and the Northbrook National Insurance Company. Northbrook Holdings has annual premiums of $587 million and total assets of $1.65 billion. It has about 1,100 employees. St. Paul said that it expected to cut an undetermined number of jobs.
COMPANY NEWS;LOEWEN AND BLACKSTONE TO MAKE JOINT PURCHASE
Date: 18 June 1996
Dow Jones
Dow Jones
A joint venture of the Loewen Group and the Blackstone Capital Partners 2 Merchant Banking Fund L.P. agreed yesterday to buy Prime Succession Inc., a privately held operator of 146 funeral homes and 16 cemeteries in the United States, for about $295 million. Blackstone Capital will control the venture's board. Loewen's ownership in the venture was not disclosed. Blackstone Capital is an investment vehicle of the Blackstone Group. Loewen, based in Burnaby, British Columbia, operates funeral homes and cemeteries.
COMPANY NEWS;VISHAY INTERTECHNOLOGY TO CUT 1,300 JOBS
Date: 18 June 1996
Dow Jones
Dow Jones
Vishay Intertechnology Inc. said yesterday that it would cut 1,300 jobs from its worldwide staff of 18,000 as part of a plan to cut manufacturing costs because of slow business. Vishay, a maker of electronic components based in Malvern, Pa., expects its reorganization to reduce second-quarter earnings by $16 million. Profits in the corresponding quarter last year were $24.7 million. Felix Zandman, Vishay's chairman and chief executive, said the job cuts were expected to result in annual savings of $24 million a year.