Forstmann Little to buy General Instrument for 16 billion
Forstmann Little & Co agrees to acquire General Instrument Corp, a major cable TV supplier, at 44.50 a share totaling 16 billion. Theodore Forstmann touts the deal as proof of “real money” and notes the firm’s two largest buys this year, following a pause in junk-bond financing. The transaction follows prior 1980s scale takeovers and other 1990s purchases like Saks Fifth Avenue and Norton Co.
MENTIONED IN THIS ARTICLE
New York
Forstmann Little & Co
General Instrument Corp
Forstmann Little
Gulfstream Aerospace
Chrysler Corp
Theodore J. Forstmann
Lon
Forstmann
Saks Fifth Avenue
Norton Co
Beatrice Co
RJR Nabisco
Major mergers and junk bond criticism in 1990 previews
The piece notes major acquisitions announced in the first half of 1990 and cites a critic who calls junk bonds fake wampum. He has attacked them in editorials and in Congress, pressing for curbs on these bonds after lobbying last year.
MENTIONED IN THIS ARTICLE
Editori
Congress
Publisher cuts empire due to junk bonds deal
The Associated Press reports Ingersoll relinquishes control of nine dailies and 53 weeklies including the New Haven Register as Warburg, Pincus gains full control of Ingersoll Newspapers Inc. The move follows heavy debt from a high yield buy spree and a missed July 1 interest payment on $125 million of 13 percent junk bonds.
MENTIONED IN THIS ARTICLE
Ingersoll
New Haven Register
Trentonian
Trenton
New York
M. Warburg, Pincus & Co Warburg
Pincus
Ingersoll Newspapers Inc
Carner Corp wins $5 million cooling systems contract
Carner Corp has won a contract exceeding five million dollars to supply four cooling systems for Indianapolis area use. Mid-America Energy Resources Inc, a utility subsidiary, will purchase the systems for a new district cooling plant in downtown Indianapolis. The plant aims to consolidate cooling for buildings and reduce individual cooling needs. Manufacture will occur in Syracuse in coming months, but employment at the local plant will not rise, according to spokesman Rick Whitmyre.
MENTIONED IN THIS ARTICLE
Carner Corp
Indianapolis
Mid-America Energy Resources Inc
Syracuse
Rick Whitmyre
Toyota Cressida Tops in Quality Survey Findings
Detroit based report by J D Power & Associates ranks the Toyota Cressida with the fewest problems among surveyed owners, with Corolla Camry and Lexus models also in the top 10, highlighting Toyota's reliability across its lineup.
MENTIONED IN THIS ARTICLE
Detroit
Toyota Motor Corp
J D Power & Associates
New York
Construction slump persists in May spending drop
Washington reports May construction spending fell 0.4 percent for the second straight month totaling a seasonally adjusted annual rate of 445.6 billion dollars. Residential non-residential and government construction all declined.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Building rises on Buckley Road in Lana North office park
Hayner Hoyt Corp says a 20,000 square foot office building is under construction in the Lana North office park off Buckley Road. Subcontractor Schneid Construction Co of Syracuse handles masonry exterior work. The REYNOLDS Metal Development Co property at 50 Presidential Plaza owns the structure, which has no tenants and is due for completion in August.
MENTIONED IN THIS ARTICLE
Hayner Hoyt Corp
Lana North
Buckley Road
Schneid Construction Co
Syracuse
Reynolds Metal Development Co
50 Presidential Plaza
Fed hints at rate cut to shield growth this summer
Federal Reserve policymakers, meeting in mid year, are likely to lower rates as economic softness grows. Analysts say the move could align with President Bush's deficit goals and support renewed growth, though not driven by political pressure. Data show weaker activity, with job gains muted and consumer spending slowing.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Bush
Federal Open Market Committee
Fed
David Jones
Aubrey G Lanston & Co
New York
Open Market Committee
Microwave Filter Buys Neighboring NIagara Scientific
Microwave Filter Co Inc acquired Niagara Scientific Inc, making it a wholly owned subsidiary located at 6743 Kinnect. NSI will be run by its existing management with Carl Fahrenkrug named vice president of corporate development as Microwave Filter seeks expanded sales and shared marketing and manufacturing expertise.
MENTIONED IN THIS ARTICLE
Syracuse
Microwave Filter Co Inc
Niagara Scientific Inc
Itnto
Kinnect
Microwave Filter
Niagara Scientific
Glyn Bostick
NSI
MFC
Bostick
Magara Scientific
Tis Schroeder Machines Division
Calgate Palmolive
General Mills
Pepsi Cola
Pillsbury
Carl Fahrenkrug
Chrysler awards stock options to 1800 executives to curb exodus
Chrysler Corp confirmed a one time stock option grant to about 1,800 executives for 1989 quality improvement in hopes of retaining top managers. Officials said the move targets non competitive compensation and cites a higher resignation rate last quarter. The exact shares and price were not disclosed. options likely valued near $15 a share.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
Lee Sechler
Chrysler
Also Mentioned on This Page
By Leslie Wayne
New York Times News Service
Poe
AU Ate
Lah Aee
Ee Eee
Georgia Pacific
Great Northern
Nekoosa Corp
Philip Morns Cos
Jacobs Suchard
Rhone-Poulanc SA
Rover Group Inc
Foratmann Little & Co
General Instrument
Com
ConAgra Inc
Beatrica Co
American International International Lease
Group
Inc. Finance Corp
Rec
Empire
By Tom Buerkle
Associated Press
Robert Ambeat
Donald Trump
Balin Ingersoll
Carrier
Toyota Cressida
The
NY Times News
Semca
Jim Fox
Vernon
Salina North
Haynor Hoyt
Salina
Buskley Road
Ron Stodghill
Knight-Ridder Newspapers
NYSE
AMEX
Smith Corona
Che Cooper
NYNEX
Bnk Rcisier
Anheuser Busch
Eastman Kodak
Nyse&g
Usair
Nc Goulds
Alcan
Echhin
Ye Oneida Ltd
Va Utc
Iroquois Banc
Fay's
Nc Pall Corp
Xerox
Fleet
Norstar
Midlantic
At&t
Penn Traffic
Onbancorp Inc
Treasury
Bristol
General Motors
Philip Morns
Dollar (Gan
Center Bank
Raymond Corp
Carlisle
Church & Dwt
Chase Manhattan
Kemper
le Reynolds
Comm Bank
Key Corp
Hs Roch
Dean Witter Reynolds Inc
NiMo
Sears
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!