Compaq to Buy Digital in 9.6 Billion Deal
Compaq Computer Corp will acquire Digital Equipment Corp in a 9.6 billion dollar transaction. Digital, based in Maynard with 54,000 staff and 13.1 billion in revenue, has fallen from its late 1980s peak as Compaq aims to extend from PCs into high end corporate machines. The deal provides Digital shareholders 30 dollars cash and 0.945 Compaq shares per Digital share, with 4.8 billion cash plus stock valued at 9.6 billion.
MENTIONED IN THIS ARTICLE
Boston
Compaq Computer Corp
Digital Equipment Corp
Compaqq
Compaq
Digital
Houston
Eckhard Pfeiffer
Digital shortfalls reflect 1996 to 1997 earnings dip
Digital's chairman and chief execu tive will stay on at the merged firm as earnings slip. The company completed divestitures including a network equipment unit to Cabletron Systems for 430 million and selling Alpha microchip manufacturing to Intel for 1.5 billion in a deal that settled a copyright suit. EPS was estimated at 71 cents, with shares near 61.69.
MENTIONED IN THIS ARTICLE
Cabletron Systems Inc
Digital
Intel Corp
Intel
Minnesota Sues Tobacco Firms Over Youth Health Risk Claims
Minnesota opens its 1.77 billion suit against cigarette makers with 33 million internal documents. Attorney Michael Ciresi says the industry hid smoking hazards since the 1950s and targeted youth, while defense warns the real issue is causation of higher health costs. Defendants include Philip Morris, R J Reynolds, Brown & Williamson, B A T Industries, Lorillard, Liggett, and the Tobacco Institute.
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ST. Paul
America
Ciresi
Minnesota
Texas
Florida
Mississippi
Sanchez
Democracy Movement
U.S
Miami
Blue Cross
Blue Shield
Peter Bleakley
Tobacco Companies
Bleakley
Hubert Humphrey III
Minneapolis
State
Liggett
Philip Morris Inc
R.J. Reynolds Tobacco Co
Brown & Williamson Tobacco Corp
B.A.T. Industries PLC
Lorillard Tobacco Co
Liggett Group Inc
The
Tobacco Institute
Lilly Endowment Tops Ford as Largest Private Foundation
The Lilly Endowment, funded by Eli Lilly and Co, surpasses the Ford Foundation with assets of 12.7 billion versus Ford’s 9.4 billion. Fueled by stock market gains and Prozac sales, Lilly’s value surged 140 percent in two years, prompting debate on reliance on market performance for foundation assets.
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New York
Eli Lilly and Co
Ford Foundation
Lilly Endowment
Chronicle of Philanthropy
Eli Lilly
Lilly
Stacy Palmer
The
Lilly Endowment grants rise with stock wealth shift
Lilly Endowment faces scrutiny as new wealth drives grants up from 252 million to 413 million this year while stock market gains reshape foundation rankings. Gretchen Wolfram defends long term value, noting 1.74 billion in giving since 1937, mostly to Indiana causes, with at least 5 percent annual asset payout required by law. The Packard and Woodruff foundations gain ground on the back of large bequests and Coca-Cola holdings.
MENTIONED IN THIS ARTICLE
Lilly Endowment
Gretchen Wolfram
Indiana
Lilly
Ford Foundation
Palmer
David and Lucile Packard Foundation
Hewlett-Packard
David Packard
Robert W. Woodruff Foundation
Atlanta
Coca-Cola
Chicken numbers corrected in AP bird flu story
An AP correction from Atlanta clarifies a Jan 21 report on poultry vaccine stockpiling. It states 230 million is the figure for table egg layer chickens, not breeder chickens, and notes no estimate exists for breeder chicken numbers.
MENTIONED IN THIS ARTICLE
Atlanta
U.S
Associated Press
Opponents ask judge to reject tobacco plan
Miami AP report notes objections to a 349 million settlement for tobacco industry illness claims from air cabin attendants. The proposal creates a 300 million medical foundation with 49 million for legal fees, while objectors seek compensation for individuals. Lead plaintiff attorney Rosenblatt defends fairness. critics call fees gargantuan.
MENTIONED IN THIS ARTICLE
Miami
Robert Kaye
Medical Research Foundation
Eric G. Olsen
Jensen Beach
Stanley Rosenblatt
AT&T to Cut 15,000 Jobs and Freeze Wages in Shakeup
AT&T Corp unveiled a restructuring cutting 15,000 to 18,000 jobs and freezing executive salaries over three years in a bid to trim management and save about 1.6 billion dollars this year. The plan follows an 18 percent profit drop in the fourth quarter as long distance revenue fell.
MENTIONED IN THIS ARTICLE
New York
At&t Corp
Ws Cotony
At&t
C. Michael Armstrong
Wall Street
Raghu Ram
Wheat First Butcher Singer
New York Stock Exchange
Federal Communications Commission
FCC
Robert E. Allen
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COMPA
Maynard, Mass
Tandem Computers Inc
Pfeiffer
Ford
Foundation Ranking
Pew Charitable Trusts
Robert W. Woodruff
Foundation
John D. and
Catherine T. MacArthur Foundation
Rockefeller Foundation
Andrew W. Mellon 10 Foundation
Nicole Davis
Westernjo Manorj
W. County Rd
Ralph Nader
Public Citizen Law Group
Brain
Stafford
Rosenblatts
Frontier Galleries
Come Qadry
Ismail
Miami Dolphins
Gaither
George Beverly Shea
Billygrahem.org
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