NEWS SUMMARY
Date: 02 March 1996
International 2-5
Spiller av lørdag 2. mars 1996
2. mars 1996 var en lørdag under stjernetegnet til ♓. Det var 61 dagen i året. President i USA var William J. (Bill) Clinton.
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2nd of March 1996 News
Nyheter slik de dukket opp på forsiden av New York Times på 2. mars 1996
Pirro Assailed Over News Breaks
Date: 03 March 1996
By Chris Kincade
Chris Kincade
ON Dec. 31, 1993, just hours before Jeanine Pirro was to take office as Westchester County District Attorney, the newspaper heiress Anne Scripps Douglas was slain in Bronxville. As David Hebert tells it, Ms. Pirro had not even unpacked her files before she was deluged with requests from the television show "America's Most Wanted" and the news program "Dateline NBC." It was, perhaps, a fitting beginning for Ms. Pirro, who gained a national reputation commenting on the O. J. Simpson trial for the ABC News program "Nightline" and other programs. For Mr. Hebert, who was hired as an Assistant District Attorney, however, the Douglas case changed his role in the District Attorney's office.
COMPANY NEWS;BOARD CONDITIONALLY AUTHORIZES STOCK SPLIT
Date: 02 March 1996
Reuters
The UAL Corporation, parent of United Airlines, said yesterday that its board had conditionally authorized a 4-for-1 split in its common stock. UAL, which is majority owned by employees, said stockholders would be asked to approve an increase in the authorized common stock at the company's April 24 annual meeting to accomplish the split. UAL's stock rose $5.50, to $184.125, on the New York Stock Exchange. If stockholder approval is obtained, the stock split is scheduled to occur at the close of business May 6. The Chicago-based United is the nation's largest majority employee-owned company.
COMPANY NEWS;DEAL TO ACQUIRE CORTIZONE AND HEMORID BRANDS
Date: 02 March 1996
Dow Jones
Dow Jones
Pfizer Inc. said yesterday that its consumer health care group had agreed to acquire the Cortizone and Hemorid brands from the Thompson Medical Company. Terms were not disclosed. Cortizone is an over-the-counter hydrocortisone product used to relieve itching related to skin irritations, rashes and insect bites. Hemorid is a hemorrhoid treatment for women. Thompson Medical, a privately held concern in West Palm Beach, Fla., is a pharmaceutical products company. Pfizer is a diversified health care company based in New York.
COMPANY NEWS;INFLO HOLDINGS TO CLOSE KEEBLER BAKERY IN ATLANTA
Date: 02 March 1996
Bloomberg Business News
Bloomberg News
Inflo Holdings said yesterday that it would close its Atlanta bakery, the smallest of its six Keebler Company plants, and dismiss the 450 workers there. Inflo, a joint venture between Flowers Industries of Thomasville, Ga., and a Luxembourg investment fund, said it did not expect to shut any of the other plants it acquired when it bought Keebler on Jan. 27. The company said it would move the plant's equipment to other locations, sell the Atlanta plant and increase employment at some of the remaining Keebler operations.
COMPANY NEWS;STORAGE USA SELLING STAKE TO SECURITY CAPITAL
Date: 02 March 1996
Bloomberg Business News
Bloomberg News
Storage USA Inc. said yesterday that it had agreed to sell a 28 percent stake to Security Capital U.S. Realty for $220 million, providing cash to continue its rapid expansion in the highly profitable self-storage industry. Self-storage facilities have grown in popularity in recent years as more consumers find them a cheap and easy extension of their closets, basements and garages. The stock of Storage USA closed up $2 on the New York Stock Exchange at $33.75, an all-time high. Under the agreement, Storage USA, based in Columbia, Md., will sell 7.03 million shares to Security Capital at $31.30 each. After the sale, it will have about 25.2 million shares outstanding.
COMPANY NEWS;FREDDIE MAC BOARD RAISES ITS DIVIDEND
Date: 02 March 1996
Dow Jones
Dow Jones
The board of the Federal Home Loan Mortgage Corporation raised the dividend that the concern pays to shareholders by 16.6 percent and authorized the buyback of as much as $1 billion of its common stock. Federal Home Loan, known as Freddie Mac, is a quasi-governmental concern that buys mortgages and repackages them into securities. It will be able to buy more than 11.5 million common shares at current prices. The repurchases will be conducted in the open market over the next several years.
COMPANY NEWS;SHERWIN-WILLIAMS WILL ADD GROW GROUP UNIT
Date: 02 March 1996
Reuters
The Sherwin-Williams Company will purchase the household and consumer products business of Grow Group Inc., which was recently acquired by British-based Imperial Chemicals Industries P.L.C., the companies said yesterday. The business manufactures specialty aerosol, household and professional cleaning products, with sales of about $80 million. Financial terms were not disclosed. I.C.I. bought Grow, a paint maker, after it outbid Sherwin-Williams with a $350 million offer. I.C.I. said then that it would be looking at possible divestments.
COMPANY NEWS;TRINOVA'S UNIT SELLING YOKOHAMA AEROQUIP STAKE
Date: 02 March 1996
Dow Jones
Dow Jones
The Trinova Corporation said yesterday that its Aeroquip Corporation unit had agreed to sell its 35 percent interest in Yokohama Aeroquip K.K. to the Yokohama Rubber Company of Japan for $34 million. Trinova said Yokohama Rubber would terminate use of the Aeroquip trade names and rename the company. The joint venture, founded in 1973, manufactures and sells fittings, couplings and hose and tube assemblies for industrial and automotive markets. Trinova said its other operations in Japan -- Aeroquip Automotive in Nagoya and Vickers Industrial in Tokyo -- would be unaffected by this transaction. Trinova is based in Maumee, Ohio.
COMPANY NEWS;WARNER-LAMBERT TO SELL GENERIC UNIT TO NALE
Date: 02 March 1996
Bloomberg Business News
Bloomberg News
The Warner-Lambert Company said yesterday that it would sell its Warner Chilcott Laboratories generic pharmaceutical business to Nale Laboratories P.L.C. Terms of the contract were not disclosed. Warner Chilcott had 1995 sales of $125 million from the marketing of about 70 generic pharmaceuticals. Warner-Lambert has entered into a manufacturing and service agreement with Nale and will retain rights to a minority equity interest in it. Nale is a closely held Irish developer of generic medicines.