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mr. martin said they have n't yet decided what their next move would be but he did n't rule out the possibility of a consent solicitation aimed at replacing georgia gulf 's board |
in other transactions mr. simmons has followed friendly offers with a hostile tender offer |
although georgia gulf has n't been eager to negotiate with mr. simmons and nl a specialty chemicals concern the group apparently believes the company 's management is interested in some kind of transaction |
the management group owns about N N of the stock most purchased at nominal prices and would stand to gain millions of dollars if the company were sold |
in the third quarter georgia gulf earned $ N million or $ N a share down from $ N million or $ N a share on fewer shares outstanding |
sales fell to $ N million from $ N million |
a licensing company representing the university of pennsylvania added johnson & johnson to its lawsuit challenging a university faculty member over rights to <unk> <unk> medicine |
university patents inc. based in <unk> conn. said it seeks johnson & johnson 's profits from sales of <unk> estimated at $ N million a similar amount of punitive damages and the right to license <unk> elsewhere |
in may university patents filed a suit in federal court in philadelphia against albert m. <unk> a researcher and professor at the university of pennsylvania school of medicine who developed <unk> in the 1960s to combat <unk> |
dr. <unk> <unk> the medicine while employed by the university but later licensed the <unk> to a division of johnson & johnson |
in new <unk> n.j. a johnson & johnson spokesman declined comment |
criticism in the u.s. over recent japanese acquisitions is looming ever larger in the two countries ' relations |
officials from both nations say the u.s. public 's <unk> about japanese investment could color a second round of <unk> economic talks scheduled for next week in washington |
not that washington and tokyo disagree on the japanese acquisitions indeed each has come out in favor of <unk> investment in the u.s. |
where they disagree is on the subject of u.s. direct investment in japan |
the u.s. wants the removal of what it <unk> as barriers to investment japan denies there are real barriers |
the <unk> talk <unk> up by recent japanese investments in the u.s. is focusing attention on the differences in investment climate even though it 's only one of many subjects to be covered in the <unk> talks known as the structural <unk> initiative |
the japanese should see this rhetoric as a signal of the need for a change in their own economy says charles <unk> u.s. assistant treasury secretary who has been in tokyo this week <unk> discussing the impending negotiations with government and business leaders |
we have a long history of maintaining an open <unk> policy mr. <unk> says |
u.s. investors should have a greater opportunity at direct investment in japan |
the japanese <unk> openly about the u.s. public 's <unk> |
one clear sign of japan 's nervousness came this week when a spokesman for japan 's foreign ministry devoted nearly all of a regular half-hour briefing for foreign journalists to the subject of recent japanese investments in the u.s. |
we believe that it is <unk> important for those japanese business interests in the u.s. to be more aware of the <unk> and concerns of the american people said the spokesman <unk> <unk> |
at the same time though he <unk> the media for paying such close attention to japanese investment when other foreign countries notably britain are acquiring more american assets |
fears that japanese investors are buying up america have <unk> sharply in the past several weeks with sony corp. 's purchase of columbia pictures entertainment inc. from coca-cola co. and mitsubishi estate co. 's acquisition of a N N holding in rockefeller group the owner of some of <unk> manhattan 's most exclusive r... |
even before those moves added fuel the fires of <unk> had been well <unk> by the highly publicized experience in japan of one u.s. investor t. boone pickens jr |
the texas <unk> has acquired a N N stake valued at more than $ N billion in an <unk> company <unk> manufacturing co |
but he has failed to gain any influence at the company |
<unk> has refused to grant mr. pickens seats on its board <unk> he is a <unk> trying to pressure <unk> 's other shareholders into buying him out at a profit |
mr. pickens made considerable political <unk> with his troubles in japan |
the senate finance committee <unk> by a fellow <unk> democratic sen. lloyd <unk> last month urged u.s. trade representative carla hills to use mr. pickens 's experience in talks with tokyo to highlight this problem facing americans who seek access to the japanese capital markets |
while mr. <unk> and japanese officials say the question of investors ' access to the u.s. and japanese markets may get a disproportionate share of the public 's attention a number of other important economic issues will be on the table at next week 's talks |
among them are differences in savings and investment rates corporate structures and management and government spending |
each side has a <unk> of recommendations for the other |
the u.s. says it is anxious for results |
we feel very strongly that we really need action across the full range of issues we 've identified and we need it by next spring mr. <unk> says |
both sides have agreed that the talks will be most successful if negotiators start by focusing on the areas that can be most easily changed |
but they have n't <unk> what those might be |
after the first set of meetings two months ago some u.s. officials complained that japan had n't come up with specific changes it was prepared to make |
the japanese <unk> that the first round was too early to make concessions |
just to say the distribution system is wrong does n't mean anything says a ministry of international trade and industry official |
we need to clarify what exactly is wrong with it |
that process of <unk> out <unk> is likely to take time the japanese say no matter how badly the u.s. wants quick results |
for instance at the first meeting the two sides could n't even agree on basic data used in price discussions |
since then a team of about N <unk> and u.s. commerce department officials have crossed the globe <unk> consumer prices |
by monday they hope to have a <unk> of documents both sides can trust |
little by little there is progress says the <unk> official |
both sides are taking action |
<unk> <unk> contributed to this article |
while worry grows about big japanese investments in the u.s. japan 's big trading companies are rapidly increasing their stake in america 's smaller business |
for japan the controversial trend improves access to american markets and technology |
but for small american companies it also provides a growing source of capital and even marketing help |
take the deal with candela laser corp. a <unk> mass. manufacturer of high-tech medical devices which three years ago set its sights on japan as an export market |
partly to help clear the <unk> obstacles facing any overseas company trying to <unk> japan tiny candela turned to mitsui & co. one of japan 's largest trading companies for investment |
in a joint-venture deal mitsui <unk> candela through tokyo 's bureaucratic <unk> |
it eventually secured ministry of health import approval for two candela laser products one that breaks up kidney stones and another that <unk> skin <unk> |
at last count candela had sold $ N million of its medical devices in japan |
the deal also gave mitsui access to a high-tech medical product |
they view this as a growth area so they went about it with a <unk> approach says richard <unk> a candela vice president |
indeed for many japanese trading companies the favorite u.s. small business is one whose research and development can be <unk> for future japanese use |
the japanese companies <unk> many small u.s. companies with promising products or ideas frequently putting their money behind projects that commercial banks wo n't touch |
japanese companies have financed small and medium-sized u.s. firms for years but in recent months the pace has taken off |
in the first half of N alone japanese corporations invested $ N million in minority positions in u.s. companies a N N rise from the figure for all of N reports venture economics inc |
the needham mass. concern tracks investments in new businesses |
in addition of course some of the japanese investments involved outright purchase of small u.s. firms |
heightened japanese interest in american small business parallels an acceleration of investments giving japanese companies control of large highly visible u.s. corporations such as columbia pictures entertainment inc |
only this week it was announced that mitsubishi estate co. had acquired a N N stake in rockefeller group which owns new york 's prestigious rockefeller center |
while the small deals are far less <unk> they add to japanese <unk> of the u.s. market |
as the deals also improve japanese access to american technology and market knowledge they feed american <unk> in this area too |
even a <unk> product like plate glass can catch a trading company 's fancy if there 's a strategic fit |
free state glass industries of <unk> va. a small <unk> of architectural glass was <unk> under its original management |
last year mitsubishi international corp. the new york-based arm of mitsubishi corp. bought controlling interest in the glass company in a joint venture with ronald <unk> a glass industry executive and mitsubishi consultant |
the deal is <unk> designed to give mitsubishi a window on the u.s. glass industry says <unk> <unk> an executive in mitsubishi 's general merchandise department in new york |
it 's not just a simple investment in a small company mr. <unk> says |
we want to see the glass market from the inside not the outside |
mitsubishi 's investment in free state is very small less than $ N million mr. <unk> says |
mr. <unk> declines to comment on the arrangement |
trading companies such as mitsubishi mitsui c. <unk> & co. and <unk> corp. which make many of the japanese investments in small u.s. concerns have no u.s. counterpart |
these <unk> integrated combines some of which got their start in japan 's <unk> period deal <unk> in commodities construction and manufacturing |
they operate ships and banks |
all the <unk> are looking for new business says arthur <unk> adviser to the president of mitsui u.s.a. using the japanese term for the largest of the global trading houses |
adds <unk> <unk> senior vice president of c. <unk> america inc. we have a great interest in making investments particularly in new ventures |
a host of electronics firms in california 's silicon valley were financed with <unk> venture capital |
profit at least in the short term is usually a secondary goal |
strategic objectives not financial return drive many of the deals says a venture economics spokesman |
in investing on the basis of future transactions a role often performed by merchant banks trading companies can cut through the <unk> that <unk> owners often face with their local commercial banks |
it 's the classic problem of the small businessman says malcolm <unk> managing director of trading alliance corp. of new york |
people are <unk> at the door to take his product but he does n't have the working capital to make the thing and commercial banks are very <unk> |
they want assets they want a balance sheet which has no <unk> to the business a company can generate |
adds mitsui 's mr. <unk> unlike corporations in this country trading companies are n't so much interested in a high return on investment as they are on increasing trade flows |
to the extent they can do this they 're quite content to get a return on investment of N N to N N |
mr. <unk> says mitsui has N u.s. subsidiaries in which it holds N N interest or more and the trading company hopes to double the number of its u.s. affiliates in N |
sales by these subsidiaries in the fiscal year ending last march were more than $ N billion |
a N N to N N return on $ N billion ai n't <unk> mr. <unk> says |
hudson general corp. 's president and chief executive officer alan j. <unk> resigned |
mr. <unk> N years old could n't be reached for comment |
a company spokesman declined to elaborate on the departure |
hudson general which provides maintenance fueling and other services to airlines and airports reported a loss for its most recent fiscal year and last month omitted the semiannual dividend on its common shares |
mr. <unk> who had been with the company more than N years and had been president since N will act as a consultant to hudson general |
his duties as chief executive will be assumed by chairman jay b. <unk> |
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