Matsushita Nears MCA Buyout as Sony Moves Largely Ahead
Matsushita Electric Industrial Co. nears an agreement to acquire MCA Inc., parent of Universal Pictures, with estimates ranging from 6.7 to 7.8 billion dollars. The talks echo Sony’s 1990 purchase of Columbia Pictures for about 5 billion including debt. Matsushita, maker of Panasonic and Technics, ranks among Japan’s largest firms.
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Homeless councilman finds shelter in affluent Foster City
In Foster City California Councilman John Oliver sleeps in a camper truck amid rising homelessness in San Mateo County. He, once a businessman and mayor, cites high rents and a changed life after divorce and a failed venture. The county reports 9,000 homeless, nearly 50 percent more than four years ago, many families and children. Oliver says he no longer owns a home but remains active in city politics.
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