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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 24, 1996
Page
16
AK Steel Corp. announced record earnings of 258.6 million dollars for 1955, nearly double the prior year. The company also cited 1996 shipments of 4.05 million tons and operating profit of 298.1 million dollars, up 68 percent from 1994.
Mayor Michael White says Cleveland Electric Illuminating Co. failed to provide a fourth interconnection with Cleveland Public Power and to transmit CPP purchases. The city seeks penalties up to 100 million dollars, citing a 1977 Justice Department ruling tied to Perry and Davis-Besse licenses. CEI disputes the claim as grandstanding.
The Commerce Department shows a 0.2 percent rise in income and wages in November, the smallest gain in three months. Analysts note consumer debt and credit card use rising as real wages lag, with modest improvement only in the Midwest where wages edged up 0.2 percent after inflation in 1995.
Cupertino based Apple Computer executives deny any sale after rumors of a Sun Microsystems deal. Shareholders scorn CEO Michael Spindler amid losses and layoffs while A C Mike Markkula backs the board and Spindler, though observers warn time is short for reversing Apple’s slide.
Invacare Corp. said it rejected an out-of-court offer from Sunrise Medical to settle a lawsuit over Invacare Comfort Phil trademark. Invacare seeks $1 million, calling the Sunrise response frivolous while highlighting its status as a leading home health care maker with global plants and 1995 net sales around $500 million.
A wave of computer enhanced animals including penguins beavers buzzards talking dogs frogs and Clydesdales star in upcoming Super Bowl commercials. Budweiser BMW NTIce and Pepsi headlines show animal tricks humor and high tech effects while experts warn ads succeed only with clear product linkage.
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