Forstmann Little to Buy General Instrument Corp
Forstmann Little & Co agreed to acquire General Instrument Corp, a major cable TV supplier, for $44.50 per share totaling about $1.6 billion. The firm, led by Theodore J. Forstmann, notes a comeback with this and Gulfstream Aerospace deals while criticizing junk bonds and highlighting its recent largest-year transactions.
MENTIONED IN THIS ARTICLE
New York
Forstmann Little & Co
General Instrument Corp
Forstmann Little
Gulfstream Aerospace
Chrysler Corp
Theodore J. Forstmann
AIG Critic Calls Junk Bonds Fake Wampum
American International Group Inc. is described as a critic of junk bonds dubbed fake wampum. The speaker has attacked these securities in editorials and in Congress, where he lobbied last year for legislation to curb certain forms of the bonds.
MENTIONED IN THIS ARTICLE
Forstmann
Saks Fifth Avenue
Norton Co
Beatrice Co
RJR Nabisco
Editori
Congress
Carner Corp Wins Over $5 Million Cooling System Contract
Carner Corp wins a contract exceeding five million dollars to supply four cooling systems for Indianapolis. Mid-America Energy Resources Inc plans to purchase the systems for a new district cooling plant in downtown Indianapolis. The plant will supply chilled water for building air conditioning and could cut building cooling costs. Systems will be manufactured in Syracuse in coming months. employment at the local plant will not rise, per spokesman Rick Whitmyre.
MENTIONED IN THIS ARTICLE
Carner Corp
Indianapolis
Mid-America Energy Resources Inc
Gaus
Syracuse
Rick Whitmyre
Toyota Cressida Tops JD Power Quality Survey
Toyota Cressida received the fewest problems in a J.D. Power quality survey, with Corolla Camry and Lexus models also ranking in the top 10. The findings appear in New York Times coverage of the annual study.
MENTIONED IN THIS ARTICLE
Detroit
Toyota Motor Corp
J.D. Power & Associates
New York Times New
Building slump persists as May spending slides
Washington reports construction spending fell 0.4 percent in May marking the second consecutive monthly decline. The Commerce Department said total spending at a seasonally adjusted annual rate of 445.6 billion dollars covered residential, non-residential and government projects after a 2.2 percent drop in April.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Publisher cuts empire due to junk bonds turmoil
Ingersoll agrees to hand control of nine dailies and 53 weeklies to Warburg Pincus after overleveraged holdings and slumping ad revenue. He relinquishes stakes in New Haven Acquisition and Community Newspapers Inc. as Community Newspapers misses a 13 percent junk bond payment.
MENTIONED IN THIS ARTICLE
Ingersoll
Ngersoll
New Haven Register
Trentonian
Trenton
N.J
New York
F.M. Warburg, Pincus & Co
Warburg
Pincus
Ingersoll Newspapers Inc
New Haven Acquisition Co
the Register
Community Newspapers Inc
Community Newspapers
New 20,000-Square-Foot Office Building Rising on Buckley Road
Hayner Hoyt Corp says the 20,000 square foot office building in the Salina North office park off Buckley Road will be finished on schedule in August. Schneid Construction Co. handles the masonry exterior. The owner is Reynolds Metal Development Co. of 50 Presidential Plaza. No tenants yet.
MENTIONED IN THIS ARTICLE
Hayner Hoyt Corp
Salina North
Buckley Road
Schneid Construction Co
Syracuse
Reynolds Metal Development Co
Presidential Plaza
Haynor Hoyt
Salina
Fed May Cut Interest Rate to Avert Recession
The Federal Reserve Open Market Committee likely will cut rates in coming weeks as signs of economic softness emerge. Economists say the move would fit a Bush administration push toward growth and deficit reduction, despite concerns about politics influencing policy.
MENTIONED IN THIS ARTICLE
Fed
Washington
Federal Reserve
Bush
Federal Open Market Committee
David Jones
Aubrey G. Lanston & Co
New York
Open Market Committee
Microwave Filter Buys Neighboring Firm in East Syracuse
Microwave Filter Co Inc purchased Niagara Scientific Inc to form a wholly owned subsidiary at 6743 Kinne St East Syracuse. NSL will gain from Microwave Filter’s marketing and manufacturing expertise. Niagara Scientific, with 11 million in annual sales and 22 employees, makes environmental monitoring equipment and industrial automation gear.
MENTIONED IN THIS ARTICLE
Syracuse
Microwave Filter Co. Inc
Niagara Scientific Inc
Kinne St
Microwave Filter
Niagara Scientfic
Glyn Bostick
NSL
MFC
Niagara Scientific
Carl Fahrenkrug
Chrysler woos executives with one time stock options
Chrysler Corp sought to stem a management exodus by granting one time stock option awards to about 1,800 executives in recognition of 1989 quality gains. Officials noted the move as motivation while declining to disclose shares or price, with options set above market value and held in trust until January 1.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
Lee Sechler
Chrysler
Also Mentioned on This Page
By Lestie Wayne
New York Times News Service
American International Group Inc
Georgia Padle
Great Northern
Nekoosa Corp
Philip Morris Gas
Jacobs Suchard
Rhone-Poulanc SA
Roter Group Inc
General Instrument
Corp
ConAgra Inc
International Lease
Finance Corp
U.S
Reckitt and Colman Boyle-Midway Division
American Home Products Corp
Carrier
Toyota Cressida
Jeman
N.Y Times News
Serce
Empire
By Tom Buerkle
Associated Press
Robert Campeau
Donald Trump
Ane
Jim Fox
Vernon
NYSE
AMEX
NYNEX
Smith Corona
Bnk Achster
Cooper
Prime Rale
Anheuser Busch
Eastman Kodak
Nyse&g
Usair
Nc Goulds
Alcan
Nc Edhlin
Als Oneida Ltd
Ala Utc
Iroquois Banc
Allied Sig
Fay
Fleet
Norstar
At&t
General Electric
Penn Traffic
Onbangorp Inc
Nc Treasury
Bristol
General Motors
Philip Morne
Anaren Mic
Ma Park Gomm
CanPac Ltd
Center Bank
Raymond Corp
Carisia
Mt Church & Dwt
Merchav
Chase Manhattan
Nc Kemper
Reynolds
Lyst
Dean Witter Reynolds Inc
Inio
NiMo
Sears
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