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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 08, 1998
Page
18
Lear Corp plans a cost cutting drive cutting about 2,800 jobs or four percent of the workforce and closing 18 plants. About 1,100 jobs will be eliminated in North America with 15 closures in Europe and one in South America. Detailed plant impacts will be shared with employees.
South Carolina will pull out of the an ti trust case against Microsoft after the AOL Netscape merger, arguing the software market shows competition. Attorney General Charlie Condon says the case is moot by the market’s actions and criticizes federal handling of the case. Other plaintiff states include Ohio California Connecticut Florida Illinois Iowa Kansas Kentucky Louisiana Maryland Massachusetts Michigan Minnesota New Mexico New York North Carolina Utah West Virginia Wisconsin.
Scottish Power agrees to acquire PacifiCorp for about 7.9 billion in stock creating a 7 million customer cross Atlantic utility group. The deal aims to combine assets and run PacifiCorp’s Western U S operations from Portland with regulatory approvals needed in multiple agencies.
Continental Airlines seeks to avoid stricter carry on rules and instead expands overhead bins as a marketing tactic. The carrier cites a 1997 start of luggage congestion, enforcement tests at security checkpoints, and a $14 million retrofit to enlarge bins on over 150 planes amid a broader battle over bag size limits and curbside policy.
IDG Books Worldwide Inc will acquire Cliffs Notes, the Lincoln Nebraska publisher of study guides, for 14.2 million dollars. Cliffs Notes founder Clair Hillegass called the deal a great day for the company, noting the match with IDG’s learning ethos and products like Windows for Dummies.
Northrop Grumman told workers at Grand Prairie and Dallas plants it will shed 1500 positions next year due to reduced Boeing 747 work. An additional 1100 employees in Hawthorne California and Perry Georgia will lose jobs for the same reason.
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