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Show submit a press release, announce business, or call ness, during normal To a new I IfatSkSS toljS The Daily Herald Wednesday, October 11, 1995 O.J. Simpson DOW (Industrials) NYSE UITA S&P 500 AM EX NASDAQ tonight Advances: Unchanged: 1,458 742 Total issues: 3,045 nlume: 498,364,170 (iiivl Cvsiii jytiiiivi Business Hinhlinhts Health-sout- h NEW YORK (AP) Corp., a big medical rehabilitation company known for nursing sports greats like Emmitt Smith and Bo Jackson, moved to broaden its muscle in the growing business of outpatient care. Healthsouth, the country's largest provider of rehab services, said Tuesday it will buy Surgical Care Affiliates Inc., the biggest outpatient surgery company, in a SI. 2 billion stock swap. The deal extends a series of acquisitions by Healthsouth as it seeks to marry the two complementary medical services and offer them on a nationwide scale. PHILADELPHIA (AP) CoreStates Financial Corp. will acquire Meridian Bancorp Inc. for stock valued at $3.2 billion in a merger that would eliminate nearly 2,000 jobs and 115 bank branch offices. The combined Philadelphia-base- d company would be one of the top 20 banks in the nation, with a combined $45 billion in assets and operations in 47 counties in eastern Pennsylvania, northern Delaware and central New Jersey. The two banks said Tuesday they hope to complete the merger by next June. WASHINGTON (AP) Cor- porate America isn't suffering under Congress' budget knives, even as programs for poor citizens undergo massive cuts, according to study by a liberal advocacy group. The Republican-ru- n Congress is expected to reduce federal subsidies and tax breaks for businesses labeled corporate welfare by critics by less than l percent with an average 7 percompared cent cut for most government programs, said the Center on Budget and Policy Priorities Tuesday. LANDOVER. Md. (AP) Shares in Dart Group Corp. shot up 13 percent in the first trading since directors decided to take control of the retail holding company away from the warring Haft family. NEW YORK (AP) Dove Audio Inc., publisher of a sexually explicit tell-a- ed in late trading at 100.68 Japanese yen, up from 100.45 late Monday, and at 1.4185 German marks, up from 1.4136. At middav in New York, the dollar was worth KX).46 yen and 1.4151 marks. Other late dollar rates in Europe, 1. 1478 compared to late Monday: 1.1425; from Swiss francs, up 4.9603 French francs, down from 4.9625; 1.610 Italian lire, up from dol1,607; and 1.3353 Canadian lars, down from .3355. The British pound was quoted at $1.5780, down from $1.5856 late Monday In New York, the pound fetched $1.5782 at midday. Other dollar rates at midday in New York included: 1.1446 Swiss francs, 4.9564 French francs, 1.608 lire, and 1.3386 Canadian dollars. Gold in London fetched a closing price of $385.10 per ounce, up from $ 384.20 bid Monday. 1 ' book about l! Nicole Brown Simpson, said it has uLaCitlSC Of! ; . -- NBC said that it will offer 12 minutes of advertising during the three hour program but none during the actual interview. Network officials said they hae no plans in boost their ad prices for this euui. Wednesday night rates on NhC range from SII0.000 to $l35.n)0 per spot. "Sometimes ou just don't look to profit from the situation." said ice Larry Hoffner. executive president of network adert!sing sales. "Our upper management chose not to exploit this." The network projects 29 million households will be tuned in more than double the tonight normal Wednesdav nieht viewer r -tPJ K ..... 'H''"y " I K Y A Stocks fall to sharp losses NEW YORK (AP) Stocks recovered most of the ground given up in a sharp loss early Tuesday but still ended lower for a second straight session amid concern about corporate profits in the technology sector. Buyers slipped into the market shortly after the Dow Jones industrial average registered a dip and the Stock Market Nasdaq declined as much as 25 points. Trading on the Nasdaq was so heavy at the opening that the Nasdaq Stock Market for a period prevented market makers from broadcasting price quotes over one of the 1 AP Photo A 66-poi- nt billboard featuring a photograph by strik- ing Detroit Free Press photographer Day- mon J. Hartley of a former Sterling Heights, Mich., police officer kicking a downed pick- - known as SelectNet. The OGDEN. Utah (AP) chief executive officer of R.C. signed a deal with three black women jurors from the O.J. Simpson murder trial to chronicle their experiences. Wendy Walker, Dove's director of publicity, said Tuesday one of the jurors involved in the deal is Armanda Cooley. Walker wouldn't disclose further details, saying only that the company planned to officially release them later this week. WASHINGTON Chicago Exchange Board is asking The (AP) eter outside the Detroit Newspaper' North printing plant was erected Tuesday by the Teamsters union near downtown Detroit. The message and photograph refer to vio- - lent clashes between picketers and police at the plant where editions of the Detroit Free Press and The Detroit News are being printed. Six unions. R.C. Willey donates $1 million to Weber State automatic trading systems forewoman picture is worth a thousand words A Options regulators to approve what could well become known as the "Dorfman Rule." The CBOE wants permission to briefly suspend a computerized options trading system when the market goes berserk after reports by television business analysts, such as CNBC's Dan Dorfman. The rule could apply to any pundit with a regular television slot, CBOE spokesman Stan Lata said. But the rule is clearly tailored for Dorfman. whom The Times of London once called "one of the most influential tipsters in America.." loUars Metals Maike The dollar LONDON (AP) other was mixed against major currencies in European trading Tuesday. Gold prices rose. In London, the dollar was quot- iiicii NBC's prime time tonight Chrysler went so far as to cancel previously scheduled ads on Dateline. "We don't think we will get much out of this because of the negative connotations." said Jan Zverina. a Chrysler spokesman. Some companies that usually specials such as pursue high-rate- d this said they would pass on the show. "We didn't pursue advertising on this program because we felt it wouldn't be a good business decision to be affiliated with any programming on which Simpson would appear," said Jim Bright, a spokesman for Ford, which is pushing a huge ad campaign for its I9v6 Taurus. America Dart owns Crown Books Corp., Trak Auto Corp., Total Beverage Corp., and part of Shoppers Food Warehouse Corp. The board's decision on Sunday is expected to be challenged by Dart Chairman Herbert Haft and three other family members. a A three-yea- r DALLAS (AP) contract fight between American Airlines Inc. and its flight attendants' union ended in an arbitration decision that gave each side some of w hat it wanted. In the arbitration, which grew out of a devastating 993 strike. American's nearly 20.000 flight attendants got bigger pay raises than the airline wanted, averaging 17 percent over six years. But American won a key staffing victory that will allow fewer attendants on many of its flights. major companies are steering clear of the former star running back. They're canceling their ads on the program and passing on the chance to buy spots on it despite projections for Super Bowl-styl- e ratings. Advocacy groups, angry that companies may profit off of Simpson, said they will boycott NBC 845 Declines: Women will target companies who buy time on the show. The controversy demonstrates who made milthat Simpson lions as a advertising pitchman will face an uphill battle re stablishing himself in the lucrative corporate world. Executives at leading c. rporations said they believe Simpson's image has been tarnished by the trial and they want to stay as far away from Simpson as possible. AT&T and Chry sler, which usually spend as much as $250,000 for advertising on NBC's prime time on Wednesdays, said Tuesday that they won t spend a penny on O.J. Simpson, NEW YORK a former Madison Avenue golden boy, has swiftly become a pariah in corporate America. As Simpson prepares for an hour-lon- g interview on NBC NYSE Diary 1994 avg. comp. vol.: 352,288,590 Dateline. The Los Angeles chapter of the National Organization for By TOM LOWRY New York Daily News October 10, 1995 - a pariah in corporate In Zurich the price was $385. 10. up from $384.50 late Monday. Earlier in Hong Kong, gold dropped I cent to close at $384.89. Silver traded in London at $5.45 a troy ounce, up from $5.40 late Monday. t NEW YORK (AP) Spot metal prices Tuesday. Aluminum - 76.5 cents per lb. London Metal Exch. Tue. Copper $1.3300 Cathode full plate. U.S. destinations. Copper - $1.2550 per lb, NY Comex spot Tue. Lead - 44 cents per lb. Zinc - .5059-.521- 3 per lb. delivered. Tin - n.a. Mon Metals Week composite price per lb. Gold - $385.10 Handy & Har-ina- n (only daily quote). Gold $385.30 troy oz., NY Comex spot month Tue. Silver - $5,430 Handy & Harman (only daily quote). Silver - $5,407 per troy oz., NY Comex spot month Tue. Mercury $250.00 per 76 lb flask, New York. Platinum - $4I3.00-$4I5.0- 0 troy oz., N.Y. (contract). Platinum $418.70 N.Y. Merc spot per troy oz. Tue. non-ferro- -- -- -- -- Willey Home Furnishings and his wife have donated 41 shares of stock valued at more than $1 million to Weber State University. The donation by William H. and Patricia Ann Child of Salt Lake City is one of the largest single cash awards to the school in its history, said school President Paul H. Thompson Tuesday. William H. Child said he made the donation in an effort to repay for more than 63 years of support to R.C. Willey. "I have a great love for Weber State University." he said. He sale of the 41 shares of Berkshire Hathaway stock, valued at $1,050,000. will support six university programs. The College of Business & Economics will get $500,000 and the athletic department will received S2()().(K)0. The Alumni Center, the College of Applied Science & Technology, and the Collece of Arts & Human the community ities and Utah Musical Theater will each get S 00.000. The College of Health Professions will be given S50.000. Thompson said the Childs' gift will fill important needs for all the programs it serves. William H. Child is a graduate of Weber State and serv ed on the school's board of trustees from 1987 to 1991. In June. R.C. Willey merged with Berkshire Hathaway, a corporation owned bv billionaire Warren Buffett. Lloyds, TSB to form Britain's third largest bank Two big LONDON (AP) British banks, Lloyds and TSB. said today they w ill merge in a deal valued at approximately $8 billion. The merger is part of a worldwide consolidation move within the banking industry aimed at reducing costs in a bid to become more competitive. The biggest deal so far this year was the August announcement of the proposed $10 billion combination of Chase Manhattan Corp. and Chemical Banking Corp., to create the largest U.S. banking business. The new British banking company will be called Lloyds TSB Group PLC. and will have some 12 million customers, 3,(XK) branches and $221 billion in assets. The Financial Times said that would make the new bank third in Britain in terms of assets behind National Westminster Bank and Raphael Soifer. banking analyst at Brown Brothers, Harriman &. Co. in New York, said the merger would create the largest retail banking company in Britain. Retail banking refers to sen ices to the general public, such as mortgage loans. "There are too many banks in the U.K. already, especially retail banks." said Soifer. "Lloyds has been looking for wavs to achieve further consolidation." Lloyds and TSB said the merger should become effective by the end of the year. In a joint statement, Lloyds and TSB said the prospects of both groups will be greatly enhanced by the merger. "The U.K. retail financial services market place is characterized by slow growth, intense competisaid the tion, and statement by Lloyds Chairman Sir Robin Ibbs and Sir Nicholas Goodison. chairman of TSB. The merger requires the approv al of Parliament, which the banks said was expected before the end of 995. over-capacity- ." Clinton troubled by Daiwa Bank failure By JAMES H. RUBIN Associated Press Writer WASHINGTON The failure of the Japanese government to notify the United States promptly a $1.1 billion loss at a Daiwa Bank New York branch is troubling the Clinton administration. "As a matter of policy, if Japan or any country's regulatory authorities become aware of significant financial issues of concern to the United States, we would expect to be fully informed in a timely manner." said Treasury Department spokesman Howard Schloss. "If this were not to occur, it would be a matter or great concern to us." Schloss said he is restrained from making further comment because the Justice Department is investigating the case. of Japanese regulators admitted they were aware of the loss, blamed on a rogue trader in New York City, more than a month before fully reporting it to the Federal Reserve in Washington. Daiwa Bank replaced five top managers and shut down a New York office Mondav. also revealing it failed to report promptly a similar trading scheme in the mid-1980- Daiwa Bank Trust Co.. the bank's investment management arm in New York, lost $97 million through unauthorized trades of U.S. bonds between 1984 and 1987. said Japan's Finance Ministry. In the current scandal, trader Toshihide Iguchi concealed $1.1 billion in losses incurred rtirough 30.000 unauthorized trades over an II year period, bank officials said. He was arrested at his New Jersey home on Sept. 23 on charges of falsifying recotds to cover up the trading losses. The bank w ill close the 20 person office in downtown Manhattan that houses its U.S. bond trading operations and shift record-keepin- g functions to another office in midtown Manhattan. Daiwa Bank is one of Japan's largest financial institutions, with $316 billion in assets and 9.6(H) employees. Disclosure that government regulators in Japan knew of the $1.1 billion loss well before telling the United Slates comes at a sensitive time. Treasury Secretary Robert Rubin has said he is concerned about the Japanese banking system, while praising cooperation between the two nations on a variety of important economic issues. Daiw a first said it learned of the New York trading losses in July and that Japanese and U.S. regulators were notified on Sept. 18. leading to public disclosure of the scandal. But Daiwa executives said Monday in Tokyo they informally told Japan's Finance Ministry of the scandal on Aug. 8. Chrysler's third quarter earnings drop 46 percent By MIKE McKESSON AP Auto Writer DETROIT Chrysler Corp's profits declined 46 percent from a year ago. the nation's No. 3 automaker said today, announcing net earnings of $354 million. Chrysler said profits were lower mainly because of reduced prothird-quart- er duction of minivans during changeover to a new model, costs related to the minivan. higher rebates and other buyer incentives, and the deterioration of the Mexican economy. The profit translated to 91 cents a share, compared with $1.76 a share in the third quarter of !nc4. when earnings were $651 million. Third quarters traditional are troughs for the Big Three because of the cost of model changeovers, vacation-slowe- d production and slower summer sales. However. Chrysler's profits grew from the second quarter to the third, and the Jul September third period was the third-bein the company's history. quarter Chairman Robert J. Eaton said. "Customer response to our new minivans has been outstanding, and we expect to be near full mini-vaproduction capacity by the end of the fourth quarter." Eaton said. Chrysler's revenue tor the quai-te- r rose to $12 billion from $11.7 billion in the same 1994 period. For the first nine months of this vear. Chrvsler profits have fallen to $1.08 billion, or $2.82 a share, from $2.5 billion, or $6.92 a share, in the same 1994 period. Revenue was relatively fiat at $38.1 billion vs. $38 billion a year ago. Chrysler Financial Corp.. the -- st company's lending subsidiary, earnreported record ings of $87 million, compared with $50 million a year earlier The previous record for the third quarter was $83 million in 1990, third-quart- No. General Motors Corp. reports its earnings Tuesday and Ford Motor Co.'s report is due a day later. Those figures also are expected to show drops in profit. Combined, the Big Three's third-quartprofits are likely to total about $1.2 billion, down from about $2.3 billion a year ago. 1 year-to-ye- er tf |