16. maj 1998 var en lørdag under stjernetegnet for ♉. Det var 135 dag på året. Præsident for USA var William J. (Bill) Clinton.
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Date: 17 May 1998
By Elisabeth Bumiller
Elisabeth Bumiller
Profile of George Whipple 3d, in-house counsel for investment banking firm Donaldson, Lufkin & Jenrette who is celebrity reporter for New York 1, all-news cable channel; Whipple comments; photo (M)
Date: 17 May 1998
By Vivienne Walt
Vivienne Walt
Article on top five business schools as ranked by US News & World Report: Harvard University, Stanford University, Columbia University, MIT Sloan School of Management and University of Pennsylvania Wharton School; says job offers are aplenty for graduates of these schools; chart; photo (M)
Date: 17 May 1998
By Celestine Bohlen
Celestine Bohlen
Krasnoyarsk, Russia, Siberian region of three million people with reputation as Russia's political bellwether, has been center ring of Russian politics in recent weeks, in which no-holds-barred political biases of Russia's national newspapers and television channels have been on full display; media has been focused on ugly campaign between incumbent Gov Valery Zubov, Kremlin candidate, and challenger Aleksandr Lebed, former paratroop general and ousted Kremlin aide; movie stars, pop singers, image makers and dirty-tricks artists have been peddling campaign skills (M)
Date: 17 May 1998
By Anita Gates
Anita Gates
Anita Gates comments on dysfunctional office families that are settings for number of television shows, including Spin City, Just Shoot Me, News Radio and The Drew Carey Show; notes that at time when Americans are devoting more and more hours to work, they see workplace reflected in prime time as hotbed of neurosis, 'with a little psychosis thrown in'; photos (L)
Date: 17 May 1998
By Richard L. Berke
Richard Berke
Referendum in Northern Ireland on proposed peace agreement is being conducted without television commercials that are so overwhelmingly present in US elections; provisions of complex treaty are not flashed on screen, distorted beyond recognition in tiny soundbites; two sides, instead, present their arguments on billboards, posters and in leaflets, and in full-page newspaper ads; photo (S)
Date: 16 May 1998
By Bloomberg News
Bloomberg News
Corporate Office Properties Trust said yesterday that it had agreed to buy the Baltimore Gas and Electric Company's real estate unit for $203 million in cash and securities, increasing its office property holdings by about 59 percent. The unit, Constellation Real Estate Group Inc., owns eight buildings in the Baltimore and Washington, D.C., areas. Under the terms of the agreement, Corporate Office will pay $107 million in cash or assume the same amount of debt. It will also issue 6.88 million common shares valued at $96 million and $24 million of convertible preferred stock. After the transaction, Corporate Office will own 45 properties.
Date: 16 May 1998
By Bloomberg News
Bloomberg News
Waste Management Inc. said yesterday that it would cut its quarterly dividend to conserve cash and take a second-quarter pretax charge of $70 million to $90 million for costs related to the year 2000 software bug. The trash company, based in Oak Brook, Ill., cut its dividend to a penny a share from 17 cents, payable on July 2 to shareholders of record on June 17. It said it would license USA Waste Services Inc.'s plan to eliminate the 2000 problem from its computer systems and discontinue its own plan. The moves come two months after the beleaguered company agreed to be bought by its rival, USA Waste, for $21.8 billion. Waste Management shares fell 43.75 cents yesterday, to $33.125.
Date: 16 May 1998
By Bloomberg News
Bloomberg News
Davel Communications Group Inc., one of the largest United States pay phone operators, has sold a stake of about 28 percent to Equity Group Investments Inc., a closely held investment group controlled by the Chicago billionaire Samuel Zell, for $28 million. Equity Group will receive one million newly issued common shares in Davel, plus warrants to purchase an additional 218,750 shares, which can be exercised if the stock reaches $32. Davel, based in Tampa, Fla., is selling the stake instead of pursuing a previously announced secondary equity offering.
Date: 16 May 1998
By Bloomberg News
Bloomberg News
American Airlines said yesterday that it had ordered 25 more 737-800 aircraft from the Boeing Company, adding to a $7 billion purchase of more than 100 planes announced in November 1996. The 737, one of the most widely used jetliners in commercial aviation, will replace 727-200's, the oldest planes in American's fleet. The 25 new planes, worth $1.29 billion before discounts, are scheduled to be delivered between January 2000 and January 2002. American, a unit of the AMR Corporation, now has 100 737's on order. The carrier expects to replace all its 727's by 2004. American originally ordered 103 planes from Boeing in 1996.
Date: 16 May 1998
By Bloomberg News
Bloomberg News
The Mellon Bank Corporation plans to sell its commercial mortgage servicing business, including $17 billion of servicing rights, and focus its energies on the residential mortgage business. Mellon is seeking buyers for the Income Property division of the Cleveland-based Mellon Mortgage Company. The commercial business includes 200 employees, 12 branches and the fourth-largest servicing business in the United States. Michael Kula, chief operating officer of Mellon Mortgage, said the company had hired Goldman, Sachs & Company to seek buyers. The plan, first reported in Commercial Mortgage Alert, follows less than a year after Mellon Mortgage acquired a $7.9 billion servicing portfolio from the Bankers Trust New York Corporation.