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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 19, 1991
Page
9
Delta Air Lines discussed a possible merger with Pan American World Airways as Pan Am fights bankruptcy and Delta seeks a stronger international network. Analysts see a fit combining Delta’s U S routes with Pan Am’s global reach while the airline faces uncertainty.
MINNEAPOLIS Hasbro Inc. and Tonka Corp. said their boards approved Hasbro s revised buyout terms. The plan would pay less for Tonka stock and more for its bonds. Tonka, the nation s No 3 toy maker, recommends shareholders accept the new offer after earlier announcement this week.
The Office of Thrift Supervision ruled Neil M. Bush engaged in unsafe practices and multiple conflicts of interest as director of Silverado Banking in Denver. It ordered a cease and desist and warned that a return to banking must involve attorney consultation and avoidance of cited conflicts. A civil suit by FDIC seeks $200 million related to the thrift's failure, risking up to $1 billion for taxpayers. Bush and others are negotiating to settle before trial.
Sears Roebuck and Co reports first quarter profits up almost 91 percent to 202.7 million on revenue of 12.9 billion with earnings per share at 59 cents. Allstate profits fall to 175.1 million after a 38.5 million tax charge. Sears retailing group narrows its loss to 14.1 million as expenses drop by 103 million despite a 3.1 percent revenue dip in Merchandise. Analysts note improved earnings may reflect cost reductions, though some warn sales may not rebound with the economy.
Kidron Auction records strong consignments on April 25 with 1,688 feeder pigs, bids above $1 per pound, and top dairy cattle prices. Dairy cows and heifers reach up to $7,085 with calves selling to $205. hogs near steady with 1,608 feeder pigs listed. No sale May 9 due to holiday. next sale moved to May 10. Feeders by weight brackets reach $37 to $70 per head. bred sows, service boars, and calves feature in the week’s picker.
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