Show - e- 101o $0 - 0- UT ' - Pr -- aEr ar - i 4101a:leztc--Iii- ' S - ' V NEW YORK (Al') — Exxon Corp on Thursday lowered its fourth-quarteand 1989 profit estimates by $300 million to account for legal over pending Crinlintil charges for environmental damages from the with last year's charges Alaska oil spill The revision marked the first time the world's largest oil compa fly bah included litigation expenses in its charges which now total more than $2 billion It also coincides with Alaska Gencral Douglas Rai ly's that Justice Department Exxon attorneys might file a dollar amount involved in a possible settlement has not been disclosed The additional charge announced Thursday brings to 600 million the amount Exxon deducted for expenses in the fourth quarter "New developments and assessments led to the revised estimate of future costs associated with the costs and additional cleanup associated : spill-relate- Iton t Bank Says It Lost $1 Billion s IA k the year Analysts said the eVICW of loan-tosprovisions indicates the bahp nudit hake ntisstated its financial condition in previous quarters which could open the bank to further lawsuits from disgruntled sharehold ers Marcia Ryan a Bank of New Eng !and spokeswoman said the compa fly had not yet decided whether provisions taken before the fourth quarter for bad loans should be adusted In response to a question she also indicated the company's financial losses reflected possible misstatenients '1 don't think that we could NOW' it loss like that and not say there were mistakes and misjudgments" said Marcia Ryan a bank spokeswoman Bank of New England which has had to boost its reserves against bad real estate loans estimated Jan 19 that its 19119 losses would be $105 billion The conipany also said at the one that it expected a fourth-qua- r ter loss of about SI 2 billion aftet boosting its reserves against credit in s Bank of New England's serious troubles did not become apparent until late last year l'or the first three quarters of 1989 the bank said it had earned more than $120 1111111011 But in its statement Thursday Bank of New England said it was not results yet reporting fourthquarter because it was -- reviewing the provi sion for loan losses to determine how should be allocated among the I 989 (barters Analysts said that statement indi cated the bank and its auditors wer trying to determine whether the first three quarters should 1101 con tinned larger provisions against had loans They are tt going to pot uitu 1ja4 together again the way it should have been said 111)1CL Moynihan a se noir vice president at Advest toe Boston I Gerard ( assnly an analyst with ticker Anthony Inc said Bank of New England had plenty of signs “arber tip year 1110 lis !OP!' port could sour ' 1 11 -- '' ! 74 7144 1 't -- 4 ::it::::: 1 1 :"7f a41 '''''' It' 4 ' 4ø:041 c: $3 :: :" i) "" m17'47 :0:4t::::f '''' '44::r -i fftf J41'' !!):17:rr7777"7“ - ?— wi0 rx Il- 155c: :!''' tIPMMIEMEIMMIANI " " riaiiiitosoc —Assoc "oh:KJ Koss Losurps)oto r Thursday as key index took a ride finally ending up in the plus column Floor traders flash hand and it appears body signals at Tokyo Stock Exchange on roller-coaste- Stocks Shoot Up Before Japan Rumor and Drops Dow by 8 Triggers Sell-Of- f $165 II mid-1980- s 4 :'-:'- The Market in Brief By bort Zwglei Al Business Writer NEW YORK — Stock prices ended mixed Thursday in moderate trading after New Dudley Eppel managing director of equity trading at Donaldson Luf km 81 Jenrette Securities Corp said York Stock Lxchange Feb 22e 1990 selloff sparked a by a rumor about a Japanese bean dal Earlier issues rose following renewed strength on the Tokyo market and buyiiig by bargain hunter The Dow Jones average of 30 in Val At midday as much as 30 points it UP 713 reoor I Et4370000 had been up key Nikkei close when it 0 25 percent to On Wednesday the Nikkei plummeted more than 3 percent for its thirdworst drop ever The plunge helped set off a tumble in London and New York but the US markets later recovered The market Thursday also benefit ed from finning in the price of U S government debt securities analyst- - ISSUES 1 TUADED a Soul Inc d " 1c76 754 DOWN Index indeN 3582084 & stock-relate- uro9"""u coaster until the was up 9251 points in at Alex Brown Baltimore brokerage said computerized hell programs linked to stock index tutu: es kicked in during the last hour of trading Selling also apparently was sparked by rumors of a scandal in the Japanese government tic said The reports which Smith could not be called confirmed or demed immeduitely Philip Morris one of the most active NYSE issues was up 12 to 38144 The conlptilly said its Kraft Gerieral Foods division would aggressively seek acquisitions by about 1991 Union Carbide anothei active blue-cinissue Nywi up I'm at 2341 amid runtors of a possible takeover bid or the spinoff of a division Tile company declined comment Among other blue chips American (geplante 6 1 elegrapb was down 44 at :Om IBM tell 1s to 10312 and 60Ps General Electric rose to 11214 on Monsanto Jumped 4 news that tfie Food and Drug Adinin istrabon approved the company's fat substitute for loud products Sum plesse VOLUME Advancing issues nearly matched declining issues in nationwide trading of New York Stock Exchange hsted stocks Volume On the floor of the Big Board came to 18432 million shares up from 159 24 million in the previous session In Tokyo till was on a rollei Street exhibited optinusin I Thursday until prices slipped in the last hour Gordon L Smith o managing di dustrials closed down 879 to 257477 NYSE s P 079 32570 197 257477 - 879 18028 - - Comp Dow Jone! said and comments from Federal Reserve Board Chairman Alan Greenspan Greenspan told a Senate conunittee that he sees no evidence inflation is accelerating and that it may be decreasing Beech Aircraft 'Wins $1 Billion AF Pilot Training Contract tfr KANA 'ill of Wichita — N1 PATO Aircraft Corp Kan said Thorsrlii II has received t:1 billion 11$ Air Force contract the larger government awarded in the general avia ion Industr) 4)ne Of eon-tract- Beech a sti6ntian 4)f tile 10014 con Co part of a team including McDonnell Douglas Corp of St Lou is and Quintron Corp of Virginia tie lected for the $15 billion Tanker Transport Training System program 'rib' program will train pilots to fly Linkers and transports If all options are exercised Beech Troubled Retailers Given :Vlore Time to StudN Lease 2 A banio-upINCINN A II Al' judge 'thursday gavr Vuderated I no and thpartritent tores Cori mon time to (told hether to continue leases at Own 260 store locations nationide But Judgr J Vincent Aug Jr said he might reconsider and set a tRed deadline if developers or mall olwra earhi decisions te tors demand at of Oleo ' i!rrtnissioe Aug F g to !ease drrisionlit t 141o siio !lac !tot- - dodd eke ederaiii postpone - 111111 and Alurd waliw th to tow!) otootooloato: 000liot oocetto t000too' Niav 14kii!cd IMvpi IeIIIIah a kka id no deathill dttoriwy lease posed for deciding oo edt-rate- t lichouti diThlit'd to specify hotici 1ederated and Allied iiiihI pro‘ ic1 I he LOWilinall based Skat chime have rt identilv which leases may tit (111Crit'd ing our that some 1J11 protiLdOic store arc at stakt hderated and Ained sought pro citm front creditors Oil Jai 15 LID der (hapier I of the Bankrupt business aircraft between I and 1991 craft and training: said Mikk l'otk Beech'! manager of public McDonnell DougU team leader for TTTb will coordinate and docu ment the program Quintron providu fllghl simulator Potts said Beech will modify tlie beecluel to accommodata wort' landing each flight hour and to al low longer flight tiro The award also is significant for beech because military selection of the heechiet could be viewed as an endorsement by users of commercial aircraft industry observers said -This could simply be the largest government acqUisition of general aviation aircraft in jur indosiry'h history !leech President fltex !flea said 15 percent the i - '''!' 404 Iv 'a - - ':-- - I)' fol19c4 V x xon'b ordering the corriptiny Lu retwn it would Although Exxon continue the ritariup thib bp ing it alb() Lisb orritql st!t ij4 enviroiltfienfal officiitt- 1)y iiititting Ittitt I kit owl mitift vie:tin4 otilft rfibi(e titi4 turtimer itve utiticreb:-d- r I ct: T ' 't:': 1 e ' ''-- ::"- '''''' '''' ': --z lit - ' )' " " Sr ' 3' — 4t A ' - 1 ' 't ': ' ''0-0- -4 ' i 4 '11 ": a''' i O''' 41? 7 I 1 ::007 ' ' D sji I ''tf-'''''"'-'- ittl'I"' l - '''H- Sebum-I-I Voies Safety CurArcru6 at comparable federal bitil dardn however Administrator of Utali'n Occupa tonal Safety and Health depart meat which operaten under the Utah Stale Industrial Coinininnion I ti Douglas J McVey He who can and health safety nispectorn titt AAA pitirC that httiLle eltittIOLIS could result in iisnessinents and four consultants who pay -- informational visits" to employers to help thew comply with the lin Mr McVey also has a manager over inspectors and another over consultantn a deputy udiumistrator and three becrettirien Asked what state OSHA adnunin trators' — organizing us the State Plan OSHA s — most Kestorig con cern With SAl1011 they niet with him lust week a chuckling Mr Scannell said "The one thing — and it's common ni my house — money And tliatti an derstandable- OIAIA providen up tt) 50 percent of an approved state plans operating costn It also continues tu monitor those state plans But Mr Scannell said for the cur rent fiscal year Lalior Secretary Dole secured an additional k25 million to go to state plans He said Hun in the first increase aside from cost-o- f living adjustments in u decade The federal OSHA program has been paying about 51)13 million a year to states with their own OSHA plUllb haul Mr Scannell In addition Ms Dole this year o Cu lottd al) additional I'll) inspectors tor the federal OSHA program These are in addition to the i4 in :i1)VetOn Who Will Work in the red meat industry Mr Scannell said lie expecin OSHA will he able to keep the 213 additional inspectors in the next fin cal year el fective ovrt OI CONOITION He ix SSe- - TOTAL T5 LiAbiLl iE! LoeorsV oornestt o o (I) P4G(linteg ornce 12 I iniel trt4401 Vine' nounme td51uut)0i (2) T'j LiAb Et4IJIT LASol it 2' Ittg30 gkOlckleS 3Jtoouoc liA4dPQ14 A 304'04000 VIOL i)00u00 ( 454)0000 ItilAILAtaitu et mse autpoe-noulOo two o eleclot Chief Vinontiot Stewori is The Otaloasof iota k °mat Of LOntIttiOrt IWO toeo putout ell 11 COMO flO( e WI tne instv onl istoed ontJ ate It we to 'tie oest ontrwtooiK um bell ee0erot resit101V I (Attn° S EvVAR hmse 14 Utile Ottlup Wide Irm unoe soanelatt ettOr 01eSt to tru co ettne of tees kapott mt LÁsnizattoi out OrLiore tt Mos lotto eaumineol t o u and to the LoSt 01 o omuwe0ste 044 otme no uoe e4Kw0d Conlef eAlei 01 reuout00 uottorMo anti i Pt ue oat) th uut uo U emote Vdttiv the featly( ttutr issued COatKi ett—AlleS WWt Stule Ot kjmi Sr LAJUPtrrr JrtelOtrAtit)tA iatettArttl rices JACK L biJi r du Jf 5 tt CCHaV 0 ITATO )NA THAN kit4UNSUT4 60 Mo Lease CURES INFLNIt Si rON t otet )1 4594 So State S JVHt sr Lic 14400090 MAPISDet4 464 101 tEllor 5 ildflASE 10017 - Tax 100001 4you jttt i t I ) if vIded Pt Wm on0 cuol?u yew two e4otti copflot TO (At LiAbiLl I 15 AND LkdOe' t I ' t' t ' :A'' so 4 Unai 0 '!"11!" ito07-i--:- cot t Itont O ttr onit otition Lonsonooted Weuort of Condittoo Of --Ot1ortwoo1 iiSteoitt tile (lute Of tititiioess IpeLem Uornestir $0ostoiot ie s o memOet of Ow ttetittrOl Wesv Ot 1 41 lite 'Pot LAO? ICI uccoruunce coo wool t 6 1989 etwi ntoite bQw 0 ouolisneu ut ve Act etlet ot PO bOOnt to The pro visfons of The ASSFT COSI and OtOunce out fro' utuosito - I 60000(00 o liontreeeest-oeurtrsDatums ono currenc Ond COW L Interest44KeteN 001ttn‘11t 11460000u IVMOOU becormws etle(ol tuna saki ond tietorttlit OUtClloseu itkier ogreement t to re soil 6X)04000 tteilerui tunds sok) LAMA and leatie tinoncinv r ectivorSe 131620004XJ — u Loons and leaser net ot uneol tied lincerne IgeNOUA)t) Less ontowcwwAss to keg onJ tease tosfre 31140004X Yew Loons end ieuses net of one° neil iticorott Oiktivonut P J00110U Premises und hoots (abet tincivolny cuonolotelf keuses COW t60 estate uovneLl 101AKIO (fine u$101 4 ti t a (uard derlaratiori 4 'ode -- t- : ance 1)r)"4td 11141 11k1)11 IJio 61 11 liable to help e) pecit:1 to Li tw tpili related eleiinup root Exxon iintiounced thie weeli the it would return to Alittka rn Itlity to clean up reititlitritti tile bpill by Joe Kolando Tribune Business Writer Labor Secretary Elizabeth Dole lb erpected to butifiunce next mouth the Occupational Safety and Health Administration's lot untary goide 11 Ileb for reducing disorders bUril lib carpal tunnel syndrome arid tendon Indus tis in the try But Gerard F Scamlen the Bei assistant secretary of labor who heads OSHA lb not Etti0OltO consider these workplace maladies close to eradication because they are not found only in the reclmeat Industry Mr Scannell in an intervie Thursday with The Tribune said OSHA plans to adapt the guidelines for the industry to apply to -general industry" He bald he hopes OSHA will distribute them to all industries by July 1 "These guidelines have been asked for by labor and business groupb" said Mr Scannell who oversees more than 2000 employees of OSHA charged with implementing an 1970 act by that balite name EV eryone agrees you've got to get something out bU011 to help employilOW to erti those who do not place computer ternimals those who don't know about the posture Of eniployees who it tilld tit light and reflection off video bervenh Mr Scannell — scheduled to ad dress the eighth annual tali Confer owe On Industrial Hygiene 6 Safety Friday at 1030 Lii Ut tit( lied Lion Hotel — said he will ask his audience if they have any "sueress stories' that solved ergonomic problems Hi' said OSHA would like to incorporate those techniques in its guidelnies Ergonomics is au applied seience concerned witb the characteristics of people that need to be considered in designing and arranging things they Uhl' more efficiently and safely "There is no one who hat cornered Hie market on all ktiowledge on ergonomics" said Mr Scannell The meat industry's problem largely stems front tlw repetitive motion of employees Yielding knives and other instruments used to butch er animals said Mr Scannell He said among thy solutions any redesigning implements and rotating employees to different jobs Mr Scainiell said Labor Secretary DOle o ho concerned with ergolionlie problems that she has requested 34 additional OSHA inspectors on the federal level for fiscal 1991 begin Inng Oct 1 Ile said those inspectors will principally work in tio red nleat industry to ensure compliiiiieu with I ILO iiev OSHA guidelnies Utah is among the 2:3 states that developed and operate their owl occupational satety and health pro gninis in both the public and private workplaces 'rite right of states to do this is contained In thy Occupational Safety & Health Act of 1070 States that operate then own occu pational Slifety and health programs Itiui :Ott tilUM standards at TOL& I en at up to $2615 billion prom t2:s ItEOPOert the iiiii uf tio providing tile air- 11197 ie-e- - : Omit Iic iii recelvt TTTS contract tor will deliver 211 modified lieechtet anii ay fur Aug s decision lr' cleared the negotiating i proposed agreement during a court recess Thursday The agreement A ould require the compa rues to operate the stores until ri lease was canceled and would re quirt that lease rejections be SUbjeci first to hearings in the banhi Uptry cotirt SO 001Ctort could make argil A - E OSHA List Takes Aim At Worker Injuries :l :'''::::'': ::: - ' - - Friday Morning—February 23 19'90 Section 11 'age I 04:1::isrior0 ::: k0:' ' red-mea- t :1:- " t 464 ii1 4: Tftf:'''''"' :i: 77 -- - The latest provition comes on tGp charges totaling '18:9 ThJl''1' Ui the Urst and stewid toarten flj more than 1400 Itii1 It t ' 4 ' Gf 1' :4pi1W :1-- 88 6 billion - '' '- ' s Pe07 -- s E For all of Id810 Exxon reviaed its earnings ebtimate to 13 5 billion or f 2 71 a share from it earlier 3 8 billion or 12 98 a share That iaa drop from 153 billion or 3115 a share in D88 1teAenue til6 1 billion compared voth 1:t i: - Lwrt 7A-1F lievenue 1Ii VA! if :4:::4:: 4 '2ro quarler spill-relate- t $1 nancially because of the regions slumping real estate market but an alysts say Bank of New England has received some of the deepest wounds because of its aggressive lending (luring a construction boom in the Prince William Sound tinlled I I gallons of crude oil fouling miles of shoreline and killing fish and other wildlife In addition to the (tinges there lawsuits pendare 170 ing against Exxon For the fo nib quarter Exxon estimates its earnings will total 4485 million or 37 cents a bhare down 65 percent from I 4 billion or in tbe comparable 1 06 a share 1 6lit period Exxon carlicr eolmat profits of 17b5 td fourth-quarte- r million or 61 cents a share 0 (437 'i:zJ — 17 lgf0 - ?P billion billion annual loss which amounted to a loss of $1611 per share compared with earnings of S281 7 million or $4 06 per tillarv in 1988 Other banks also have suffered fi- The ht4 r' r I losses to 4 - 1 - :" W - usmess 4001- -'' BOSTON — Bank of New England Corp said Thursday that its 1989 losses were worse than expected at Million and the company said it as studying whether loan-lospro!mons should have been bigger Par " -- atietioltopojtkvsAkinvi Valdez accident" Exxon said in a statement released late Thursday Spokesman Fill Smith declined to provide details except to ay they were for "past as well as anticipated" litigation cleanup and environmental restoration expenses "We haven't broken it downsaid Smith He said the company did not know whether the company plans to add additional charges in 1990 for legal or other costs An Exxon tanker that ran onto a reef last March 24 in Alaska's pqi By Jonathan Yenkin AP Business Writer --- -- - I gakt Ztibunt a1t - 1 lirtclaY A spill-relate- I settlement plea-bargai- c1:74t- tad WWt- tIttoesse r- ": 7 r -- It 300 Million From Exxon's Wallet Spill Drains Another r fl s:iii - w 414 I 11 4mitTrAtt 4 14 yrks golmagivattauliimpolul2a ' f r t 262-550- 0 I Y-J- ) "I FOUND THE Oki WANTED AND DIDNI EVEN LEAVE HOME" Gf!kEULTSWI1h (2111'11)L LAtitlIFILE) At)t) 7-20- 00 It - 43414104AZ : : |