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rep. austin murphy d. pa. chairman of the house labor standards subcommittee said they might have done better if we 'd held their feet to the fire |
mr. kennedy suggested democrats yielded a great deal on the size of the increase but he cited concessions from the white house on the training wage which he said make it less harsh |
with only <unk> to <unk> eligible N N of workers getting less than $ N an hour who are adults wo n't be subject to the training wage he said |
the <unk> which previously opposed the administration 's <unk> idea said the compromise has adequate <unk> so the youth are not <unk> and older workers are not <unk> |
gerald f. <unk> contributed to this article |
moody 's investors service inc. said it lowered the ratings on about $ N billion of houston lighting & power co. 's securities because of the company 's low levels of interest coverage and internal cash generation |
houston lighting is a unit of houston industries inc. a utility holding company in houston |
downgraded by moody 's were houston lighting 's <unk> bonds and secured <unk> bonds to single-a-3 from single-a-2 unsecured <unk> bonds to <unk> from single-a-3 preferred stock to single-a-3 from single-a-2 a shelf registration for preferred stock to a preliminary rating of single-a-3 from a preliminary rating of sing... |
moody 's said houston lighting 's current situation has some positive aspects including managing very well the construction and commercial operation risks of units N and N of the south texas project nuclear power plant |
capital requirements will be declining and no new generating facilities will be required for several years moody 's said |
scott c. smith formerly vice president finance and chief financial officer of this media concern was named senior vice president |
mr. smith N retains the title of chief financial officer |
armstrong world industries inc. agreed in principle to sell its carpet operations to shaw industries inc |
the price was n't disclosed but one analyst estimated that it was $ N million |
armstrong which has faced a takeover threat from the <unk> family of canada since july said that <unk> of the carpet business would improve total financial performance |
the move also would allow the company to concentrate on core businesses which include ceramic <unk> floor <unk> and furniture |
moreover such a sale could help armstrong <unk> its investors and deter the <unk> who own a N N stake in the lancaster pa. company |
analysts expect armstrong to use proceeds of the sale to reduce debt buy back stock or perhaps finance an acquisition |
the carpet division had N sales of $ N million or almost N N of armstrong 's $ N billion total revenue |
the company has been manufacturing carpet since N |
recently it upgraded its plants so that it could make <unk> products with higher quality <unk> |
for the past year or two the carpet division 's operating profit margins have <unk> around N N high by industry standards but disappointing compared with the N N to N N margins for two of armstrong 's chief businesses <unk> and building products |
analysts hailed the planned transaction as being beneficial to armstrong and shaw the market leader in the u.s. carpet industry with an estimated N N to N N share |
shaw based in <unk> ga. has annual sales of about $ N billion and has economies of scale and lower <unk> costs that are expected to boost the profitability of armstrong 's brands sold under the armstrong and <unk> names |
yesterday in composite trading on the new york stock exchange shaw 's shares closed ex-dividend at $ N up $ N |
armstrong 's shares also listed on the big board closed at $ N up N cents |
yesterday armstrong reported flat earnings for the third quarter and nine months <unk> by the stock <unk> of an employee stock ownership plan adopted earlier this year |
for the quarter earnings were $ N million or N cents a share including a one-time gain of $ N million |
in the year-ago quarter earnings were $ N million or N cents a share |
yesterday armstrong announced an agreement to sell its small applied color systems unit to a subsidiary of the swiss company <unk> <unk> ltd |
the price was n't disclosed |
armstrong expects to close the sale of the color unit in late november and the carpet sale in december with the gains to be applied to fourth quarter or first-quarter results |
the government 's primary <unk> gauge rose a slight N N in september but economists said the report offered little new information on the degree to which the u.s. economy is slowing |
the small increase in the index of leading indicators which had climbed N N in august but was unchanged in july does lend support to the view that the economy has slowed <unk> |
however it does n't give much of a clue as to whether a recession is on the horizon |
i do n't think it provides much new information on the economy said richard <unk> economist at dean witter reynolds inc |
so far this year the index of leading indicators has risen in four months fallen in four months and remained unchanged in the other month |
in another report yesterday the commerce department said sales of new single-family houses plunged N N in september to an annual rate of N from N in august |
the declines were particularly <unk> in the northeast and in the south where hurricane hugo was a factor |
although september 's weakness followed two strong months for home sales the decline supports other indications that the drop in mortgage rates earlier this year has had only a limited beneficial effect on the housing market |
the september drop was the largest since a N N drop in january N but monthly changes in this measure are even less <unk> than those in other economic indicators |
because the figures are based on a small sample the department said it is N N confident only that new-home sales fell somewhere between N N and N N during the month |
the department also said it takes four months to establish a trend |
so far this year N newly built homes have been sold down N N from the like months of N |
the index of leading indicators got a major boost in september from a surge in consumer expectations as measured by the university of michigan |
this measure had dropped sharply in august |
the commerce department said that as a result of a new adjustment to the formula used to calculate the index the influence of this component has been reduced |
of the N components to the index only three others rose in september the money supply the length of the average work week and stock prices |
several components that track the health of the manufacturing sector of the economy turned down in september |
these include new orders for manufactured consumer goods lead times on vendor deliveries orders for new plant and equipment and backlogs of orders for durable goods |
meanwhile the national association of manufacturers said yesterday a recent poll of N executives on its board found that N N do n't expect a recession to occur until N or later |
the remainder expect a downturn to begin sometime in |
although manufacturers often are quick to call for lower interest rates N N of the executives said they would prefer that the fed keep <unk> as its top priority even if that means higher rates |
the other N N said the fed ought to worry less about inflation and bring interest rates down |
all the figures are adjusted to remove usual seasonal patterns |
here are the net contributions of the components of the commerce department 's index of leading indicators |
after various adjustments they produced a N N rise in the index for august and a N N rise for september |
september and the change from august are from N in the previous month |
boston edison co. said it will take a previously reported $ N million charge against earnings in the fourth quarter |
the charge resulted from a settlement approved yesterday by the massachusetts department of public utilities |
as expected the settlement limits rate increases for three years and ties future charges to customers for operation of the troubled <unk> nuclear power station to that plant 's performance |
in its order the state regulatory agency said the company must be held <unk> for the mistakes made in the management of the plant 's operation |
<unk> had been closed for N months |
the average interest rate rose to N N at citicorp 's $ N million weekly auction of <unk> commercial paper or corporate <unk> from N N at last week 's sale |
bids totaling $ N million were submitted |
accepted bids ranged from N N to N N |
citicorp also said that the average rate rose to N N at its $ N million auction of <unk> commercial paper from N N at last week 's sale |
bids totaling $ N million were submitted |
accepted bids ranged from N N to N N |
the bank holding company will auction another $ N million in each maturity next tuesday |
an <unk> novelist writing a <unk> about <unk> <unk> might <unk> a clifford stoll but it 's unlikely |
it 's also unnecessary |
<unk> <unk> clifford stoll is a real person or as he might <unk> put it a <unk> person |
he is N an <unk> with impressive credentials and something of a <unk> at making computers do his bidding |
he once described himself as a berkeley <unk> and played the role well <unk> <unk> jeans a <unk> of long hair and rejection of all things conventional including for a time at least formal marriage to his <unk> <unk> matthews |
he also is an entertaining writer combining <unk> and <unk> with <unk> detail and <unk> <unk> of how computers work |
in the <unk> 's egg <unk> N pages $ N he <unk> a remarkable tale of his efforts over N months to catch a computer spy |
the result last spring was the arrest by west german authorities of five young west germans accused of stealing information from computers in the u.s. and europe and selling it to the soviet kgb |
one of them <unk> <unk> hess of <unk> allegedly used the international telecommunications network to break into more than N <unk> computers in the u.s. searching for secrets |
he probably did n't <unk> any <unk> files but the kgb in east berlin was willing to pay two of his associates peter carl and <unk> <unk> $ N for some of the material hess collected |
they promised yet more for really good stuff |
mr. stoll draws his title from the <unk> 's habit of laying eggs in the <unk> of other birds making them <unk> parents |
the computer spy had discovered that a popular <unk> mail program called <unk> could do <unk> with the widely used unix operating system created by at&t |
using <unk> the spy could substitute a <unk> <unk> program for the one that routinely <unk> up the unix system every five minutes |
once his <unk> 's egg was laid he could enter unix and become a <unk> with access to everything |
mr. stoll was <unk> the <unk> at the <unk> <unk> of the lawrence berkeley laboratory in N when his grant ran low and he was asked to switch to helping run the lab 's computers |
he discovered a <unk> <unk> in the charges made to various departments for computer time and <unk> it to a user named hunter who had no valid billing address |
mr. stoll suspected the <unk> was one of those <unk> students who has fun breaking into computers |
but after much tracking it became evident to mr. stoll through various clues that the hacker was not on the berkeley campus or even in california |
finding him became an <unk> for mr. stoll |
he made a midnight <unk> of all the printers he could lay hands on so that he could monitor all the telephone lines coming into the lab 's computers |
after <unk> that the hacker had taken over the <unk> account of a legitimate user named joe <unk> he <unk> up an alarm system including a portable <unk> to alert him when <unk> came on the line |
some nights he <unk> under his desk |
his boss complained about <unk> of other chores |
the hacker was <unk> over the berkeley files but also using berkeley and other easily accessible computers as stepping stones to the network of computers used by the military and national security agencies |
the white <unk> missile range and cia contractor <unk> inc. were among the targets |
when the hacker moved mr. stoll moved too calling up other systems managers to alert them but keeping his own system open to avoid <unk> <unk> |
sometimes if the hacker seemed to be into a sensitive file he would drag his <unk> across the terminal to create <unk> or slow the system down to <unk> his <unk> |
the fbi initially showed little interest and he had the impression other federal security agencies were <unk> up in legal red tape |
the cia told him it does not do domestic <unk> |
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