Mystery bidder looms over Sheller Globe buyout bid
Donald Mitchell, a little known Wall Street figure, says he represents clients willing to pay more for Sheller Globe Corp. He has approached the Iowa City plant maker as shareholders prepare to vote on the General Felt Industries and Shearson Lehman bid worth about 46.73 a share in cash and notes. Mitchell declines to identify clients, while Sheller Globe insists on more definite information before responding.
MENTIONED IN THIS ARTICLE
John Crudele
New York Times
NEW York
Sheller Globe Corp
Wall Street
Donald Mitchell
Sheller
Iowa City
Mitchell
Toledo
Ohio
Sheller- Globe
Boston
Sheller-Globe
Mitchell & Co
Sheller Globe
Sheller Globe Board
Merrill Lynch and Bear, Stearns
Skadden, Arps
Slate, Meagher & Flom
General Felt Industries
Shearson Lehman Brothers
Exxon to repay 2.1 billion in oil overcharges
After a DOE lawsuit, Exxon will return 2.1 billion dollars in crude oil overcharges from a Texas field. Refunds go to state treasuries proportional to residents consumption from 1975 to 1981, with California receiving 194 million, New York 159 million, and Texas 157 million. States must use the windfall for energy conservation.
MENTIONED IN THIS ARTICLE
Department of Energy
Exxon
Texas
California
New York
Dow hits new closing high as unemployment rises
The Dow Jones industrial average climbed to a record closing high at 1,885.90 up 6.46 while major breadth measures fell. Unemployment rose to 7.3 percent, tempering optimism as financials led gains and brokers faced lower volumes. Transportation averages fell on weak airline issues.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Labor Department
Wall Street
Great Western Financial
Imperial Corp
Ameri
H.F. Ahmanson
Green Tree
Morgan Stanley
Paine Webber
Merrill Lynch
First Boston
Salomon
Getty Petroleum
Dow Jones Transportation
Dow
Exchange
Standard & Poor
S&p
American Stock Exchange
Deere Winnebago join to build chassis at Waterloo plant
Deere and Co and Winnebago Industries announce a joint venture to produce chassis at Deere's Waterloo tractor works for Winnebago motor homes. Waterloo output aims at 700 to 1,000 chassis this year with 178 to 228 inch wheelbases and Ford V-8 engines.
MENTIONED IN THIS ARTICLE
Deere and Co
Winnebago Industries Inc
Deere
Waterloo
AT&T strike stalls as CWA and AT&T clash over concessions
The Communications Workers of America challenge AT&T President-elect R. E. Allen’s claim that concessions are not sought. The dispute centers on a proposed 8 percent wage increase and the risk of loss of cost-of-living protections. Picket lines persist as IBEW workers weigh AT&T’s final three-year contract offer. Bahr expects no long strike, citing heavy costs to AT&T and uncertain financial impact.
MENTIONED IN THIS ARTICLE
Washington
Communications Workers of America
American Telephone & Telegraph Co
R. E. Allen
At&t
CWA
Morton Bahr
IBEW
Bahr
Macy's secrets end as Gimbels reportedly to close stores
Gimbels Herald Square and its 86th Street branch face closure after a 76 year rivalry with Macy's. Ownership disputes involve Batus Inc 33rd Street store and real estate sales, with 5,000 regional jobs at risk and possible redevelopment into multi use buildings as London and Leeds eyed options.
MENTIONED IN THIS ARTICLE
New York
Macy’s
Gimbels
Herald Square
86Th Street
New York Times
the Times
Gene Russell
Batus Inc
London and Leeds Corp
Russell
London
Leeds
Gimbel
Milwaukee
Philadelphia
Bernard
Gimbel Brothers
Saks Fifth Avenue
Batus
Louisville
Pittsburgh
Manhattan
33Rd Street
Broadway
Macy's
Lexington Avenue
New Jersey
Long Island
Allied Department Stores
May Company
St. Louis
SEC studies calm for triple witching market swings
The SEC is weighing options to ease stock price volatility during the so called triple witching hour with the next event slated for June 20. In a separate note the Pentagon announced plans to buy two Boeing 707s to serve as Air Force One replacing the three engine DC-10 option with a four engine 747-200B configuration.
MENTIONED IN THIS ARTICLE
Washington
The
Securities and Exchange Commission
Pentagon
Air Force One
Boeing
Peneretesare
White House
General Electric Co
Turner to sell MGM unit assets to cut debt
Ted Turner agreed to sell MGM Entertainment Co. assets for 490 million, excluding the library. Kirk Kerkorian via Tracinda to buy MGM's movie and TV production and distribution operations and Home Entertainment Group for 300 million. Lorimar-Telepictures to acquire MGM's 44 acre production facility and Metrocolor Lab for 190 million.
MENTIONED IN THIS ARTICLE
Los Angeles
Ted Turner
MGM Entertainment Co
Las Vegas
Nev
Kirk Kerkorian
Tracinda Corp
MGM
Turner Broadcasting
Metrocolor Film Laboratory
Lorimar-Telepictures Corp
Anderson Clayton approves recapitalization as rival bids loom
Houston based Anderson Clayton and Co. stockholders approve a management plan paying $37 cash plus 0.534 of a new share per share. The offer values the recapitalization at about $43 to $47 a share. Bear Stearns and Gross offer $54 a share to buy the company, but Anderson Clayton shows little interest.
MENTIONED IN THIS ARTICLE
Houston
Anderson Clayton
Bear, Stearns & Co
Gross & Co
Toyota raises U S prices again this year
Toyota Motor Sales U S A Inc says the yen's stronger value pushes import costs higher and adds 284 to the price of 1986 Toyotas in Torrance California. This marks the automaker's third price increase this year with an average rise of 4.2 percent on cars and 2.1 percent on small trucks.
MENTIONED IN THIS ARTICLE
Toyota
Toyota Motor Sales
U.S.A. Inc
Torrance
Calif
U.S
United States
Also Mentioned on This Page
Boston Consulting Group
Heublein
RJR Nabisco
Wachtell Lipton Rosen & Katz
Cote
Des Moines
Winnebago
Detroit
Terry Branstad
Hanson
Forest City
Allen
Kay McMurray
Federal Mediation
Ciliation Service
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