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Date: 24 October 1986
By Alex S. Jones
Alex Jones
Arguing that its survival is at stake, The Daily News asked its 10 unions for a $30 million cut in annual labor costs yesterday, according to participants in the meeting.
Date: 23 October 1986
By Calvin Sims
Calvin Sims
Wang Laboratories Inc., citing sagging sales in its most expensive lines of computer systems, yesterday reported a loss of $30 million in its most recent quarter, in contrast to a profit of $7 million, or 5 cents a share, in the comparable 1985 period.
Date: 24 October 1986
THE WORLD The Iceland meeting included talk about eliminating all nuclear weapons, but President Reagan did not offer the idea in a formal proposal to Mikhail S. Gorbachev, according to the White House.
Date: 24 October 1986
AP
Negotiators for the USX Corporation and the United Steelworkers met again, raising hopes that their renewed contract talks might continue on a daily basis.
Date: 23 October 1986
The Kroger Company said that it was negotiating to sell its drugstore operations to an investor group led by Philip E. Beekman, former president of the Seagram Company, and several executives of the drugstore division. Mr. Beekman has been a Kroger director since 1978.
Date: 24 October 1986
Western Tele-communications Inc. agreed to acquire Televents Group Inc. for $145 million in cash and notes. Western, a Denver-based telecommunications company, subleases its land microwave facilities to long-distance carriers. Televents, a private cable television company in Denver, has 140,000 subscribers in four states.
Date: 23 October 1986
Special to the New York Times
A unit of the New York-based financial services firm, Oppenheimer Group Inc., said it had increased its stake in Viacom International Inc. to the equivalent of 6.3 percent, from its previous stake of 5.3 percent, paying prices ranging from $43.75 to $44.25 a share.
Date: 23 October 1986
Imperial Continental Gas Association P.L.C. said that it does not believe that a $1.07 billion bid for the company by the Gulf Resources and Chemical Corporation, fairly reflects its value. The British energy company advised its shareholders not to sell their shares. Gulf Resources announced the offer on Tuesday.
Date: 23 October 1986
Special to the New York Times
Three companies in computer hardware and software said they had formed an alliance to market their products as a complete desktop publishing system. The companies involved are the Aldus Corporation of Seattle, which makes the Pagemaker software for desktop publishing; the Hewlett-Packard Company, which will supply its Vectra personal computer and LaserJet printer; and the Microsoft Corporation, which will supply its Word word processing software and Windows operating environment. The companies plan to spend more than $2 million on promotion.
Date: 23 October 1986
The Salant Corporation, an apparel producer based in New York, said it had agreed on a reorganization plan with committees of unsecured creditors and stockholders. Salant and its major subsidiaries, the Thomson Company and Obion Company, filed for protection under Chapter 11 of the Federal Bankruptcy Code in February 1985. The plan, subject to approval by the bankruptcy court, provides that for each $1,000 of unsecured claims, creditors would get $450 in cash, $500 principal amount of senior subordinated debentures and four common shares.