Репродукција понедељак, 8. март 1993.

A Financier's Elusive Paper Trail

Date: 09 March 1993

By Diana B. Henriques

Diana

Last summer, the South Bay Care Center, a 192-bed nursing home in Long Beach, Calif., was in desperate shape. The nonprofit group that owned it was behind on its bills and its mortgage payments, and was frantically trying to sell the business. At last, in September, a buyer was found -- Steven Hoffenberg, who later stepped into the spotlight as an 11th-hour bidder for The New York Post. But curiously, when the paperwork was being prepared for the nursing home purchase, Mr. Hoffenberg's name was nowhere to be found.

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Gag Rule in Romania

Date: 09 March 1993

Old habits die hard in Romania, whose Communist regime was the most autocratic in Eastern Europe until its violent demise in 1989. Under Nicolae Ceaucescu, Romanians were forbidden to own typewriters without a police permit. That rule has gone, but not the mentality it mirrored. Though present-day Romania is supposedly more "democratic," members of the Chamber of Deputies still vote in secret. And any journalist whose reports are deemed "incorrect" may lose the right to attend Parliament and may also be required to publish a retraction written by the chamber's president.

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Boeing Raises Chairman's Pay

Date: 09 March 1993

By Bloomberg News

Bloomberg News

The Boeing Company, which is planning to reduce its work force by 20 percent in the next 18 months, said today that it increased the pay of its chairman, Frank Shrontz, by 15.7 percent last year because the company exceeded all of its 1992 business goals. The 61-year-old executive, who plans to step down in 1995, received a salary of $821,361 last year and a cash bonus of $554,000, according to a preliminary proxy statement filed with the Securities and Exchange Commission. In 1991, Mr. Shrontz received less than $1.2 million in salary and bonus.

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AMERICAN CRYOGAS SOLD FOR $14 MILLION

Date: 09 March 1993

By Bloomberg News

Bloomberg News

Publicker Industries of Old Greenwich, Conn., said yesterday that it had signed a definitive agreement to sell its American Cryogas Industries unit for $14 million to Messer Griesheim Industries, a subsidiary of Messer Griesheim G.m.b.H., part of the Hoechst A.G. group of companies. American Cryogas is a producer and distributor of liquid and solid carbon dioxide and related products, with 1992 sales of about $14 million. Publicker stock closed up 12.5 cents a share yesterday, to $1.75, on the New York Stock Exchange.

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OCCIDENTAL SELLS STAKE IN NATURAL GAS COMPANY

Date: 09 March 1993

By Bloomberg News

Bloomberg News

The Occidental Petroleum Corporation said yesterday that it had agreed to sell its 45 percent stake in Trident NGL Inc., a private natural gas liquids company, to Trident for $121.5 million cash. The sale would complete the exit by Occidental, based in Los Angeles, from the natural gas liquids business. Trident plans to finance the purchase by issuing $30 million of equity to a group led by Hicks, Muse & Company, a private investment firm, and $105 million of subordinated notes. Occidental stock closed up 25 cents yesterday, to $20.125 a share, on the New York Stock Exchange.

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WEST POINT-PEPPERELL TO CLOSE TEXAS MILL

Date: 09 March 1993

By Bloomberg News

Bloomberg News

West Point-Pepperell Inc. said yesterday that it would close its Iselin Mill in New Braunfels, Tex., and lay off the plant's 350 employees. The company, based in West Point, Ga., said that the 26-year-old bed-sheet mill would be shut by May and that production would be shifted to plants in South Carolina and Alabama. The company, which makes sheets, towels, blankets and clothes, said it would try to find a buyer who would operate the plant. Last week, West Point-Pepperell sold an 800-employee woven-fabrics operations also based in New Braunfels to a group of managers and investors. Shares of West Point-Pepperell stock closed yesterday up 75 cents, to a 52-week high of $49.75 on the New York Stock Exchange.

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PATENT SETTLEMENT LIFTS BARR LABORATORIES SHARES

Date: 09 March 1993

By Bloomberg News

Bloomberg News

The common stock of Barr Laboratories Inc. rose nearly 30 percent yesterday after Imperial Chemical Industries P.L.C. of Britain said it would pay the generic drug maker $21 million to settle a patent dispute about a breast cancer treatment. Under the settlement, Barr, of Pomona, N.Y., would enter a nonexclusive distribution agreement with I.C.I.'s United States unit, Zeneca Inc., and begin selling a generic version of the breast cancer treatment tamoxifen citrate in November.

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BRITISH TELECOM TO APPLY FOR U.S. PRIVATE-LINE LICENSE

Date: 09 March 1993

By Bloomberg News

Bloomberg News

British Telecommunications P.L.C. said yesterday that it would submit an application this week to the Federal Communications Commission for a license to resell international private-line services and to offer switched services for the company's international virtual network services. If the F.C.C. approves the application, B.T. said, it would become the first international carrier able to "provide global customers with advanced international services on an end-to-end basis" rather than linking up with other carriers.

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Japanese Stocks Surge

Date: 08 March 1993

By Bloomberg News

Bloomberg News

Japanese stock prices soared on a rally in telecommunications-related issues. Investors said they were also optimistic about the Government's efforts to turn the stock market around. At its close, the Nikkei index of 225 issues had gained 868.77 points, or 5.17 percent, to 17,686.47. On Friday, the Nikkei finished up 58.09 points.

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Salomon Debt Under Review

Date: 08 March 1993

By Bloomberg News

Bloomberg News

The Standard & Poor's Corporation says it has put Salomon Inc.'s debt on its list of possible ratings downgrades after the company said last week that it lost $250 million trading securities in January and February. The loss shows Salomon's earnings are "increasingly volatile" and the firm's dependence on trading profits is "a bit more extreme than in the past," said Mark Bachmann, an analyst at S.& P., the credit rating company.

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