Ames Files Chapter 11 in $5 Billion Store Chain Bankruptcy
Ames Department Stores of Rocky Hill Conn owner of Zayre stores filed for Chapter 11 protection in a move that shocks suppliers and follows a string of New England retail bankruptcies. The 680 store chain faces heavy losses and will seek debtor financing to resume merchandise flow while preserving payroll for 55000 workers.
MENTIONED IN THIS ARTICLE
Boston
Ames Department Stores
Rocky Hill
District of Columbia
Ames
America
Kmart
Wal-Mart
Dayton-Hudson Corp
Target
Elyria
North Olmsted
Oberlin
Peter B. Hollis
Zayre
Janet Mangano
Josephthal & Co
New York
Hollis
U.S
Howard Bushman
Zayre Corp
TIX Corp
New England
Midwest
Plea bargain relieves Milken from camera ordeal
Michael Milken pleaded guilty to financial crimes avoiding a high profile court appearance. Friends and lawyers note his chronic aversion to being photographed shaped talks but say it was not the sole factor in choosing a plea.
MENTIONED IN THIS ARTICLE
New York
Michael Milken
Manhattan
Federal Court House
Allan Sloan
Milken
Steinmetz
Stephen Gillers
New York University
Howard Hughes
Lori
U.S. District Court
Cost-cutting trims Centerior rate hike for 1991
An audit panel says CEI and Toledo Edison can cut 1991 rate increases from 6 percent to about 4.35 percent through $117 million in cost reductions. Up to 1,900 jobs could be eliminated as part of management consolidation, with 12 of 85 positions at CEI at risk. The change lowers the average monthly residential bill to about $60.50.
MENTIONED IN THIS ARTICLE
Cleveland
Cleveland Electric Illuminating Co
Toledo Edison Co
Paul Smart
Centerior Energy Corp
Smart
CEI
Court upholds $1.3 million award against GM
The 6th U.S. Circuit Court of Appeals affirmed a $1.3 million judgment in favor of Allied Accessories and Auto Parts Co. of Madison Heights Michigan against General Motors. The court held GM unlawfully discounted oil filters to Campbell Filter Co. while denying Allied the same price, affecting Allied's ability to win the Kmart account. The ruling rejected GM’s arguments that the district judge misapplied federal law and deemed Woods' decision reasonable.
MENTIONED IN THIS ARTICLE
Cincinnati
Michigan
General Motors Co
6Th US. Circuit Court of Appeals
U.S
George Woods
Allied Accessories and Auto Parts Co. Inc
Madison Heights
Mich
Woods
Allied
6Th Circuit
Metal Prices New York Closing Quotes on Commodities
AP reports yesterday's Comex closing prices with Gold at 370.50 per ounce and Silver at 49.13 per ounce Plati num 473.90 per ounce and Palladium 122.25 per ounce Spot Nonferrous metals list Aluminum 0.72 per pound Copper 1.95 per pound Lead 0.45 per pound Zinc 0.82 per pound Tin and Mercury 2.80 per 78 pound flask.
MENTIONED IN THIS ARTICLE
New York
Comex
Tinnaz
Lorain County Farm Bureau Lists Grain Bids
Lorain County Farm Bureau Cooperative Association Inc posts yesterday's closing bids for grain. Wheat 3.46 dollars per bushel Shelled corn 2.80 dollars per bushel Oats 1.50 dollars per bushel Sayhsans 5.88 dollars per bushel. Local bids reflect market activity and price levels for farmers in the area.
MENTIONED IN THIS ARTICLE
Lorain County Farm Bureau Cooperative Association Inc
Elyria-Northern Savings reports 10 percent quarterly drop
Elyria-Northern Savings & Loan Co reports a 10 percent first quarter net income decline from 338 441 to 300 609. President Neal Hubbard said results are good despite interest rate variations in the financial services industry. Cleveland area Ford dealer purchase expands Marshall Ford Inc. ownership in the region.
MENTIONED IN THIS ARTICLE
Elyria — Northern Savings & Loan Co
Neal Hubbard
Northern Savings
Cleveland
Steve Barry
Cleveland St
Elyria
Kidron Auction Sees Light Consignors Amid Warm Weather
Kidron sale lists 2 663 head with 557 consignors as farmers bid on hogs calves cattle and dairy stock. Hatfield Market tops hogs at 56 58 while feeder pigs surge 1 300 head new hay prices rise for good second and third cuts. Dairy cattle demand steady cows 52 56 market stable. Holstein calves 190 212. feed costs cited with various weights and prices across livestock categories.
MENTIONED IN THIS ARTICLE
Kidron
Hatfield
Also Mentioned on This Page
Boston Globe
Action
Kurt Barnard
Chemical Bank
Leona Helmsley
Imelda Marcos
Bess Myerson
Jules Ritholz
Drexel Burnham Lambert
Tho
George Steinmetz
Beverly Hills
New York Times
Sloan
Forbes Magazine
Congressional
Ritholz
Nathaniel Jones
Harry Wellford
Ralph Guy Jr
Francis Dunne
Allied Accessories
Campbell
GaGit
Ole SienGr
WYSE
GaPac
SmtBeg
Syscos
Texaco
Hanson
VF Tucsep
Amoco
ArchOs
Jakarta
Korea
Vishay
Welma
Lilly
Baxter
Spa Whitmin
BellSo
Sova
LiLco Va
Tie Farms
Marriot
Merck
Pierre R Smith
Aponsan
Chrysir
Mighty
Allied Corporation
Chubb
Agtels
Alltel Citicorp
Matoris
Mt Ava
AmerStup
Wat Nortro
Norton
Bain Bbys
Va Cpc Inter Inc
Ccypruss Ao
Emerson
Panam
Deere
Penney
Ba Kirst Bancorp
Disney
PepsiCo
Pfizer
Oretz
Minars Ati
Ie PhilaEl
LCB Bancorp
Ekodak
Wa PhilPet
LNB Bancorp
Exxon
Rockwi
Ohie Edison
Finght
Roylo Ise
Saatchs
PNC Corp
Parker Hannifin
Ford M
Va Sarak
Va Sunrise Medical
Sears
Taxus Utilities
Gannett
SveeCp
Woolworth
Mid-Am Inc
Peat Ag EE
Marshall Ford
Barry
Kidron Livestock
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