AMERITECH PLANS TO ELIMINATE $3 BILLION IN EXPENSES
Date: 25 March 1998
By Bloomberg News
Bloomberg News
Richard C Notebaert, chairman and chief executive of Ameritech Corp, says his telecommunications company will eliminate $3 billion in expenses through 2002 in bid to sustain at least 10 percent annual earnings growth (S)
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BOEING WILL BE 5 PLANES SHORT OF FIRST-QUARTER GOAL
Date: 25 March 1998
By Bloomberg News
Bloomberg News
Boeing Co says it will miss its delivery goals for first quarter by five planes, as production bottlenecks on its 737 assembly line persist; total of 110 aircraft will be delivered in first quarter (S)
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SAMSONITE DISCUSSES SELLING 50% STAKE TO PAY DIVIDEND
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Samonsonite Corp is in talks to sell 50 percent equity stake to unnamed investors and use proceeds to pay $30-a-share dividend to stockholders, including Apollo Advisors LP, which is headed by Leon Black, a Samsonite director (S)
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CREATIVE COMPUTERS STOCK FALLS 22% ON STORE CLOSINGS
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Shares of Creative Computers Inc fall 22 percent after company says it has closed six of its seven stores, dismissing about 150 people, to focus on selling through its catalogue and the Internet; shares fall $2.375, to $8.375 (S)
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SERVICO TO ACQUIRE IMPAC HOTEL GROUP IN STOCK DEAL
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Servico Inc will buy Impac Hotel Group for $111.8 milion stock, adding upscale hotels and creating nation's largest independent hotel owner and operator, with several brands, including Marriott; combined company will be called Lodgian (S)
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PLAINS IN $420 MILLION DEAL FOR 3 GOODYEAR BUSINESSES
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Plains Resources Inc agrees to buy All American Pipeline System, Goodyear Tire and Rubber Co's oil pipeline unit, and Goodyear's Celeron Gathering Corp and Celeron Trading and Transportation Co units, for $420 million in cash (S)
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COLGATE-PALMOLIVE PAID CHAIRMAN $3.85 MILLION IN 1997
Date: 25 March 1998
By Bloomberg News
Bloomberg News
Colgate-Palmolive Co paid its chairman and chief executive, Reuben Mark, $3.85 million in 1997, up 44 percent from 1996, and awarded him 2.6 million stock options after directors' compensation committee study found his pay ranked below that of comparable executives (S)
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Railroad Banning Traffic
Date: 25 March 1998
By Bloomberg News
Bloomberg News
Union Pacific Railroad says it will bar most freight traffic to Mexico in attempt to ease yearlong backlog that has clogged its already overburdened rail system (S)
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Mitsubishi to Merge Petroleum Product Units
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Mitsubishi Corp and Mitsubishi Oil Co will merge petroleum product sales units in July and cut staff to reduce operation costs; Mitsubishi Corp is Mitsubishi Oil's largest shareholder (S)
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Cash Retires
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Pat Cash, a former Wimbledon champion, says that he is retiring from tennis after 16 years as a professional (S)
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