Squibb to acquire ICR in merger deal announced
ICR, a Syracuse area cardiology equipment pioneer, would be merged into Squibb Corp. as a wholly owned unit within Squibb Radiovascular Group. ICR plans a move to a new 50,000 square foot building at 7120 Henry Clay Blvd in April, with sales around 11.5 million last year and about 170 employees, rising to 185 after the move and potentially 300 later as sales grow. The move doubles available space and expands production capacity.
MENTIONED IN THIS ARTICLE
Squibb Corp
ICR
Squibb
Radiovascular
Gordon B. Kuenster
Richard J. Berk
Henry Clay Blvd
Berk
East
Syracuse
Oil and finance digest notes 1980 oil lease pullback and banks
The report covers currency shifts as the yen slips below 200 per dollar while gold gains amid hostage releases and Reagan’s inauguration. It also notes oil majors pulling offshore Baltimore Canyon leases, then details earnings and losses at General Foods Burroughs Heublein Citicorp and Manufacturers Hanover. Citicorp clears regulatory steps to move bank card operations to Sioux Falls.
MENTIONED IN THIS ARTICLE
Japan
U.S
Iran
Reagan
Washington
London
Zurich
Hong Kong
New York
Handy & Harman
General Foods Corp
Maxwell House
Burroughs Corp
Burroughs
First Pennsylvania Corp
First Pennsylvania Bank
Heublein Inc
Alcoholic Beverage and
Heublein
Hicks K. Waldron
Borrowers urged to shop for loans in Syracuse drive
Muriel Siebert, state banking superintendent, was to visit Syracuse to promote loan shopping signs off the boulevard west of Geddes Street. She was to discuss the state omnibus banking bills expanding powers for savings banks and savings and loan associations, and similar signs were planned.
MENTIONED IN THIS ARTICLE
Muriel Siebert
Syracuse
Geddes Street
State Banking Department
Saving and Loan Associations
Bank definition expands as money-market funds take share
Banks face competition from money market funds, credit unions, and brokerage accounts. Merrill Lynch introduces a cash management account offering check writing, a VISA card and weekly transfers to a money market fund, redefining what constitutes a bank. Credit unions also shift toward share drafts and NOW accounts, expanding the field of financial institutions offering bank-like services.
MENTIONED IN THIS ARTICLE
Andrew A. Leckey
Harry Guinivan
Investment Company Institute
Washington, D.C
Bank
Savings and Loan Association
Guinivan
Merrill Lynch
Chicago
John Kelly
New York
Dick Ensweiler
Illinois Credit Union League
Seneca Falls GTE plant sale clears merger plans
The Justice Department found no antitrust reason to block the sale of 12 GTE consumer electronics plants to North American Philips Corp. Philips will acquire the Sylvania plant in Seneca Falls and six other GTR manufacturing sites. The deal is expected to boost Philips television market share from about 9 to 15 percent, placing it third behind RCA and Zenith.
MENTIONED IN THIS ARTICLE
AUS
Justice Department
General Telephone and Electronics
GTE
Sylvania
Seneca Falls
North American
Philips Corp
New York
Philips
Roger W. Slinkman
Gte-Sylvania
Slinkman
Johnston St
GTR
New York City
RCA Corp
Zenith Radio Corp
UTC Iran hostages deal ends UTC suit status
UTC a Hartford based manufacturing conglomerate must now pursue claims against Iran through a joint U S Iranian arbitration panel rather than court. about 300 corporate suits were nullified by the hostage crisis settlement and U S officials say thousands of claims remain, with many potentially exaggerated.
MENTIONED IN THIS ARTICLE
United Technologies Corp
Iran
Freedom
UTC
Carrier Corp
Connecticut
U.S
Benjamin Civiletti
Washington
Milk plant waste may become alcohol in Canastota plan
Haz-G-Waste and Queensboro Farm Products discuss turning cheese by products into alcohol and gasohol at their Canastota site. Opponents fear Love Canal-style risks while promoter Richard Greene seeks Lenox Town Board approval for relocation and expansion.
MENTIONED IN THIS ARTICLE
Canastota
Richard Greene
Haz-G-Waste
Queensboro
Canal Road
Greene
Lenox Town Board
Your Money's Orth Third of Four Columns Fraud Schemes
A long profile highlights major health and auto insurance fraud schemes led by rings including doctors and lawyers. It outlines doctor lawyer auto body injury fraud, staged accidents, health policy abuse, inflated billing, slip and fall, and product liability schemes, with losses to insurers and consumers.
MENTIONED IN THIS ARTICLE
U.S. Chamber of Commerce
State Farm
Bloomington
Chicago
Iowa
Medicare
James F. Ahern
Insurance Crime Prevention Institute
Ahern
Also Mentioned on This Page
Squibb Acquisition
Joseph A. Porci
Instruments
Syracuse Area
Icr’s
United States
Holter
Business Digest
Shell Oil Co
Gulf Oil Corp
Baltimore Canyon
Citicorp
Hanover Corp
South Dakota
Federal Reserve Board
Comptroller of the Currency
Aly
State Banking Dept
Steve Miller
Upstate
Canastota Company
Miller
Miler
Mid-west
Gasohol
By Sylvia Porter
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