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wsj_0679 | Document creation time: 10/30/89
Hewlett-Packard Co. said it raised its stake in Octel Communications Corp. to 8.5% of the common shares outstanding.
In a Securities and Exchange Commission filing, Hewlett-Packard said it now holds 1,384,119 Octel common shares, including 100,000 shares bought from Aug. 26 to Oct. 20 for $23.31 to $24.25 a share.
Hewlett-Packard, a Palo Alto, Calif., computer company, said it acquired the stock "to develop and maintain a strategic partnership in which each company remains independent while working together to market and sell their products."
Octel said the purchase was expected. Hewlett-Packard affirmed it doesn't plan to obtain control of Octel, a Milpitas, Calif., maker of voice-processing systems.
According to the filing, Hewlett-Packard acquired 730,070 common shares from Octel as a result of an Aug. 10, 1988, stock purchase agreement. That accord also called for Hewlett-Packard to buy 730,070 Octel shares in the open market within 18 months. In addition, Hewlett-Packard acquired a two-year option to buy an extra 10%, of which half may be sold directly to Hewlett-Packard by Octel. | [
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wsj_1038 | Document creation time: 10/26/89
Benjamin Franklin Federal Savings amp Loan Association said it plans to restructure in the wake of a third-quarter loss of $7.7 million, or $1.01 a share, reflecting an $11 million addition to loan-loss reserves.
The Portland, Ore., thrift said the restructuring should help it meet new capital standards from the Financial Institution Reform, Recovery and Enforcement Act. A year ago, Benjamin Franklin had profit of $1.8 million, or 23 cents a share.
In over-the-counter trading yesterday, Benjamin Franklin rose 25 cents to $4.25.
The company said the restructuring's initial phase will feature a gradual reduction in assets and staff positions. The plan may include selling branches, consolidating or eliminating departments, and winding down or disposing of unprofitable units within 18 months.
Initially, the company said it will close its commercial real-estate lending division, and stop originating new leases at its commercial lease subsidiary.
Details of the restructuring won't be made final until regulators approve the regulations mandated by the new federal act, the company said. | [
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wsj_1040 | Document creation time: 10/26/89
ONEIDA Ltd. declared a 10% stock dividend, payable Dec. 15 to stock of record Nov. 17. The Oneida, N.Y., maker of consumer, food-service and industrial products also declared a quarterly cash dividend of 12 cents a share, with the same payable and record dates. The cash dividend paid on the common stock also will apply to the new shares, the company said. The move rewards shareholders and should improve the stock's liquidity, Oneida said. The company has about 8.8 million shares outstanding. In New York Stock Exchange composite trading yesterday, Oneida's shares closed at $18.375 a share, unchanged. | [
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wsj_0706 | Document creation time: 10/27/89
Security Pacific Corp. has set its sights on buying its second bank holding company this year.
Security said it signed a letter of intent to purchase La Jolla Bancorp, agreeing to pay $15 of its own stock for each share of La Jolla. Based on the current number of La Jolla shares, that gives the transaction a value of $104 million.
La Jolla is the parent company of La Jolla Bank amp Trust Co., which has 12 branches in San Diego County. As of Sept. 30, the bank had assets of $511 million and deposits of $469 million, Security Pacific said.
Earlier this month, Security Pacific, which is among the 10 largest bank holding companies in the U.S., completed the acquisition of San Diego-based Southwest Bancorp. | [
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APW19980501.0480 | Document creation time: 05/01/1998 09:13:00
MALAYSIA's aggressive move into the information age could not come in a more opportune time. With the convergence of communications and information technologies (IT) coupled with the coming of age for the Internet and its related technologies, the stage is set for Malaysians to seize the chance to transform into a knowledge society and become worthy opponents/players in the global market space. The Internet, the global network of computers, is now far reaching into the country - extending its embrace to include every nook and cranny of the nation - opening doors to not only a diverse range of information sources but also an exhaustive list of possibilities to create new applications which add value to people's lives. In the business world, the Internet - through intranet and extranet solutions - has become an invaluable tool for companies to harness so as to gain a competitive edge. The solutions are also vital components in developing the borderless marketing flagship application which is a vital element for spearheading the development of the Multimedia Super Corridor (MSC) project. The application will create the necessary framework and infrastructure to support electronic commerce (e-commerce) initiatives in the country. However, it is important to note that installing or implementing Internet technologies for technology's sake would not ensure instant success. For e-commerce to flourish with full-blown end-to-end business transactions, strategic planning which incorporates both business and technology plans that are complementary is necessary for an organisation to see feasible returns on investment. Intranets, through the use of Internet technology, are positioned as a platform for companies to optimise, expand and transform new channels of business. When strategically implemented, an intranet solution will provide the ability to mediate mission-critical, decision support functions in organisations. It will also help further improve communications and collaboration at all levels in an organisation. With intranets in place, it is only logical for organisations to respectively link the network to other companies' for extended business purposes through extranets. While this will enable the sharing of information among enterprises, security issues such as firewalls and encryption as well as access and control procedures, and the trust levels that enterprises have with each other will emerge and there will be a need to address them. Other than usage in business, Internet technology is also beginning to infiltrate the lifestyle domain. ``Smart homes'' have emerged bringing a wealth of information and entertainment to families over telecommunications lines. The art of socialising is also experiencing a change where Net/virtual relationships are fast overtaking or becoming parallel with the normal human relationships. Whether this would prove positive or otherwise towards society in the future is yet to be seen. All in all, the Internet has a lot to offer. However, its value and benefits are only as good as how we use it. | [
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PRI19980303.2000.2550 | Document creation time: 19980303
Tomorrow the board of supervisors of Loudon county, Virginia, will vote on whether a school now located in Mount Vernon can relocate to their county. In some respects, that's typical county business, but tomorrow's vote has international implications. The board will decide whether the Islamic Saudi Academy, funded by the government of Saudi Arabia, can move to Ashburn village, Virginia. But local residents have not exactly laid out the red carpet for their would be neighbors. The World's Nancy Marshalll has our story.
Inside the Islamic Saudi academy in Mount Vernon, Virginia, many of the girls wear head scarves and some of the neatly dressed children are in uniforms. The instruction is in English for most classes, in Arabic for language and religious studies. The school says it teaches the children to be good Muslims and good students. They're learning a civics lesson from the residents of Loudon county. The Islamic Saudi Academy has twelve hundred mostly American students but would take thirty-five hundred if it had the room. The academy bought a hundred acres in Loudon county, Virginia, and asked for permission to build a fifty million dollar campus. In the nearby suburban housing tracts, someone dropped off leaflets warning the school could bring thousands of Middle Eastern strangers and terrorists. Some residents of the mostly white, mostly middle class area became alarmed. James Zogby of the Arab American Institute says it's a familiar story.
There is, a- at a very deep level in our culture, um I think, a sense of, of ignorance about Islam, a fear about who Muslims are and what they're doing.
Many local residents denounced the bigotry, but opposition to the school then shifted. Now critics of the academy are targeting its owner, the Saudi government. Pastor James Allmen of the fellowship church and school in Ashburn has led the anti-Saudi campaign. James Allmen says he has no problem with a privately funded academy, but he has a big problem with a Saudi funded school.
The Saudi Arabian government has an atrocious record on human rights and is known to be one of the worst offending countries when it comes to religious persecution.
That's correct.
And that is a condition of the application, then.
At a public hearing on the Islamic Saudi Academy's application, the split in county opinion was obvious, supporters of the academy, including Ann Robinson, said the Saudis were just providing a service and it was unfair to penalize children.
We do not further the purpose of human rights in the world by violating the human rights under our own constitution.
But opponents said the school might be a target for terrorist attacks, complained about its tax exempt status, and wondered why the Saudis are not compelled to allow Christians to worship in their country. Virginia Welch delivered this message to the county board of supervisors.
I urge you to do the right thing and send a message to the Saudis that the citizens of Loudon county embrace religious and human freedom.
Loudon county officials say they'll rule on the application based only on land use issues and ignore all the other objections. What's really behind those objections, some say, is Loudon county's collision with a new reality in America that the country is changing religiously as surely as it is racially and ethnically. According to the Arab American institute, Islam will one day be the second largest religion in the country. For an indication of the problems that could face Muslims as they integrate into American life, one need look no farther than Loudon county, Virginia. For The World, I'm Nancy Marshalll. | [
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wsj_0938 | Document creation time: 10/26/89
Cineplex Odeon Corp. directors said the company's chairman and chief executive, Garth Drabinsky, is considering bidding 780.6 million Canadian dollars (US$666 million) to acquire the company.
The board said Mr. Drabinsky and Vice Chairman Myron Gottlieb are negotiating financing before offering C$16.40 a share to acquire all of Cineplex's shares outstanding. The directors added that the two executives haven't reached a final decision to proceed with a bid and that until an offer is made the board will continue seeking higher offers from other bidders.
The directors said if Messrs. Drabinsky and Gottlieb mail an offer to shareholders by Nov. 22, it will reimburse them a maximum of C$8.5 million for expenses related to a bid.
"We consider that his bid is an acceptable bid," said Sandra Kolber, spokeswoman for the independent directors' committee appointed last May to solicit and review bids for the company in the wake of a dispute between Mr. Drabinsky and Cineplex's major shareholder, MCA Inc.
MCA and Cineplex's other major shareholder, Montreal-based financier Charles Bronfman and his associates, have agreed to tender their holdings to an offer by Mr. Drabinsky unless a higher offer is made by another bidder. MCA holds half of Cineplex's equity and 33% of its voting rights through restricted voting shares, while Bronfman interests hold about 24% of the company's equity.
Ms. Kolber said the committee had received other bids. She declined to identify other bidders but said Mr. Drabinsky's offer "is all cash, and it's for all of the company." Several Cineplex analysts have speculated that outside bids received by the committee were either disappointingly low or for only part of the company.
"All this has really established is that MCA and the Bronfmans have agreed on a price at which they can be bought out," said Jeffery Logsdon, an analyst with Crowell, Weedon in Los Angeles. "If a bid materializes at that price, shareholders will have every reason to be glad, but the question of financing still remains."
Last April, Mr. Drabinsky and a group of financial backers planned to acquire up to 30.2% of Cineplex for C$17.50 a share from Bronfman associates. Mr. Drabinsky, who would have had the right to vote those shares for two years, said the purchase, subsequently rejected by regulators, was aimed at consolidating his control of the company. MCA strongly opposed the Drabinsky group's move.
The directors didn't indicate the source of financing for Mr. Drabinsky's new proposal, but said MCA and the Bronfman associates agreed in principle to buy for $57 million and then lease back to Cineplex its 18-screen theater complex in Universal City, Calif., if Mr. Drabinsky succeeds in an offer.
"This is being done at the suggestion of {Mr. Drabinsky} and to accommodate him, to facilitate his financing arrangements," Ms. Kolber said.
In addition, the directors said if a bid by Mr. Drabinsky is successful, Cineplex expects Rank Organisation PLC to acquire the 51% of Cineplex's Film House unit it doesn't own, and provide Mr. Drabinsky with additional loan financing.
Michael Gifford, Rank's chief executive, said the British theater chain's total involvement "wouldn't exceed $100 million" but declined to give a breakdown between the loan financing and the proposed Film House purchase.
Cineplex shareholders responded coolly to yesterday's announcement. In trading on the New York Stock Exchange, Cineplex closed at $11, down 25 cents, with more than a million shares changing hands. On the Toronto Stock Exchange, Cineplex closed at C$12.875, off 37.5 Canadian cents, well below the C$16.40 level.
"Where's the bid?" asked Pierre Panet-Raymond, an analyst and broker with Toronto securities dealer McDermid St. Lawrence Ltd. Mr. Panet-Raymond said he doesn't think Messrs. Drabinsky and Gottlieb are "anywhere close" to arranging financing and that investors will need a solid offer before the stock begins to rise again.
Mr. Drabinsky couldn't be reached for comment. | [
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PRI19980213.2000.0313 | Document creation time: 19980213
Officials in California are warning residents that oncoming rains will cause dangerous and unpredictable landslides. From member station KQED, Auncil Martinez reports.
Experts say the ground is so saturated it cannot absorb any more water. So that means soil will fall off in chunks and destroy anything in its path. In Los Angeles that lesson was brought home today when tons of earth cascaded down a hillside, ripping two houses from their foundations. No one was hurt, but firefighters ordered the evacuation of nearby homes and said they'll monitor the shifting ground. In the northern California town of Rio Nido, officials say a football field sized slab of hillside could still break loose at any time and destroy an entire neighborhood. And in San Francisco, a mansion overlooking the Pacific Ocean and the Golden Gate Bridge is slipping toward the sea. Forecasters say the picture will get worse because more rains are on the way. For NPR news, I'm Auncil Martinez reporting. | [
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APW20000401.0150 | Document creation time: 2000-04-01
HAVANA (AP) --
Tens of thousands of people paid tribute to the men who launched the Cuban Revolution more than four decades ago in a rally Saturday demanding the return of Elian Gonzalez.
With the historic yacht Granma towering behind him, Raul Castro, younger brother of President Fidel Castro and head of Cuba's Revolutionary Armed Forces, likened the revolutionary battle to the fight for Elian, the 6-year-old boy at the center of an international custody battle.
''Here, no one gives up!'' Castro declared.
The demonstrators, wearing T-shirts with Elian's portrait, waved red, white and blue Cuban flags on the shore of the community of Niquero, where the Granma landed on Dec. 2, 1956, with 82 armed men led by Fidel Castro.
In the years that followed, the guerrilla fighters waged war on the troops of dictator Fulgencio Batista, declaring victory on Jan. 1, 1959 when Batista fled the country.
Castro noted the importance that Cuba's younger generations have played in the communist government's battle to secure Elian's return from the United States, where the boy's Miami relatives are fighting for permanent custody.
As a father and the grandfather of eight children -- including a boy who just turned 6, the same age as Elian -- Castro said he sympathized with the little boy's father, Juan Miguel Gonzalez.
Gonzalez has cited his rights as the child's sole surviving parent in his calls for his boy to be returned to him in communist Cuba. Elian's mother and 10 others perished when their boat sank off the coast of Florida in late November during a crossing from Cuba to the United States.
''Elian today is the symbol of our unity,'' Castro said to cheers.
''And our struggle will not end with the return of Elian,'' added Castro. He said the Cuban people would continue to protest American laws and policies aimed at Cuba, including a four-decade economic embargo and continued U.S. military presence at the Guantanamo Naval Station on the easternmost end of the island. | [
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wsj_0135 | Document creation time: 11/02/89
Elco Industries Inc. said it expects net income in the year ending June 30, 1990, to fall below a recent analyst's estimate of $1.65 a share.
The Rockford, Ill., maker of fasteners also said it expects to post sales in the current fiscal year that are " slightly above" fiscal 1989 sales of $155 million. The company said its industrial unit continues to face margin pressures and lower demand.
In fiscal 1989, Elco earned $7.8 million, or $1.65 a share. The company's stock fell $1.125 to $13.625 in over-the-counter trading yesterday. | [
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XIE19980809.0010 | Document creation time: August 8
TEHRAN, August 8 (Xinhua) --
Iran Saturday condemned the bombing of U.S. embassies in Kenya and Tanzania, and expressed sympathy for the families of the victims.
Foreign Ministry spokesman Mahmoud Mohammadi said that Iran condemns any acts which may result in the death of innocent people, the official news agency IRNA reported.
He expressed hope the "sinister terrorism" will be uprooted with an all-out campaign through international cooperation.
More than 100 people have been killed and more than 1,000 others wounded in the blasts next to the U.S. embassies in Kenya and Tanzania on Friday. No one has claimed responsibility. | [
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APW19990410.0123 | Document creation time: 1999-04-10 06:27:43
AMHERST, N.Y. (AP) --
A rifle found near the home of a slain abortion doctor may yield important clues for investigators trying to track down the gunman.
Dr. Barnett Slepian was killed in his kitchen by a sniper's bullet last fall. Investigators said Friday they found a rifle buried near his home in the Buffalo suburb of Amherst.
The gun was sent to the FBI laboratory in Washington to determine whether it was used to kill Slepian.
``If it's not too badly rusted, they may be able to match the bullet back to the weapon,'' said Walter Rowe, forensics sciences professor at George Washington University.
The rifle might also have clothing fibers, fingerprints or a serial number that can be traced to the buyer, Rowe said.
Buried a foot beneath the ground, the weapon was unearthed during a search of a heavily wooded, four-acre area Thursday. Investigators did not say how close the weapon was to the house.
Anti-abortion protester James Kopp is being sought as a material witness in the shooting.
Investigators said Kopp's car was seen in the neighborhood in the days before the slaying. Kopp vanished after the shooting, and the car was found abandoned at the Newark, N.J., airport in December.
Officials said DNA test results showed a likelihood that a strand of hair discovered behind Slepian's home came from Kopp. | [
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PRI19980205.2000.1998 | Document creation time: 19980205
Thousands of people in Germany have been demonstrating today against the high level of unemployment in the country. Latest figures show a sharp rise, with nearly five million Germans out of work. Caroline Wyatt reports.
Chanting Helmut Kohl must go the unemployed took to the streets of the German capital, Berlin, mirroring protests around the country. Joblessness is now at its highest level in Germany since the second world war. With the general election due this September, record figures couldn't have come at a worst time for Chancellor Kohl. His promise to half unemployment by the year two thousand has now been abandoned. And the German electorate appears increasingly eager to dispense with the services of Europe's longest serving leader. Caroline Wyatt, BBC news, Bonn. | [
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ABC19980304.1830.1636 | Document creation time: 19980304
Finally today, we learned that the space agency has finally taken a giant leap forward. Air Force Lieutenant Colonel Eileen Collins will be named commander of the Space Shuttle Columbia for a mission in December. Colonel Collins has been the co-pilot before, but this time she's the boss. Here's ABC's Ned Potter.
Even two hundred miles up in space, there has been a glass ceiling. It wasn't until twenty years after the first astronauts were chosen that NASA finally included six women, and they were all scientists, not pilots. No woman has actually been in charge of a mission until now.
Just the fact that we're doing the job that we're doing makes us role models.
That was Eileen Collins, after she flew as the first ever co-pilot. Being commander is different. It means supervising the rest of the crew in training and leading them in flight. It is, in short, the kind of management job many American women say they've had to fight for. In space, some say female pilots were held up until now by the lack of piloting opportunities for them in the military.
Once Colonel Collins was picked as a NASA astronaut, she followed a normal progression within NASA. Nobody hurried her up. No one held her back.
Many NASA watchers say female astronauts have become part of the agency's routine. But they still have catching up to do two hundred and thirty four Americans have flown in space, only twenty six of them women. Ned Potter, ABC News. | [
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NYT20000414.0296 | Document creation time: 2000-04-14
MIAMI _
The small pharmacy on Unity Boulevard in Little Havana is unassuming. No Cuban flags sway from its door and no political signs pushing for the case of young Elian Gonzalez hang from its windows.
But the opinion of the woman who runs the modest business, which sells everything from prescription drugs to chewing gum and toys, carries a lot of weight in this part of Miami.
She is Fidel Castro's younger sister, Juanita. While her brother is the personification of evil in this neighborhood where Cuban flags fly from beatup Buicks, Juanita Castro is a beloved and respected member of this community.
And while she maintains a distance between herself and the heated rhetoric and politics that envelop Miami, Friday she had definite opinions on the case of the 6-year-old Cuban boy that has dominated the city for almost five months now.
``I feel for this child,'' Juanita Castro said. ``This has become too politicized, in both Cuba and Miami, and too many people are profiting from this tragedy. I think people have forgotten that this is a human issue.''
Juanita Castro, who arrived in Miami in 1961, believes the custody of the child should be worked out between his family members. She is not certain whether the boy should stay in the United States, but she feels that since he's been here so long, he should be afforded the opportunity to live in a free country.
When asked if she thought the boy's father, Juan Miguel Gonzalez, was being controlled by the Cuban government even though he has been in Bethesda, Md., for the last week, she frowned.
``I don't know what Juan Miguel thinks or believes,'' Juanita Castro said. ``What I do think is that he should have arrived in this country at least 72 hours after his son was found floating off the coast of Fort Lauderdale.''
``This has gone too far. And it's now become a tragedy.''
Dressed in a dark pink blazer and cream color pants, the sister of the Cuban dictator walked around the pharmacy talking warmly with her customers.
She said she she sometimes talks to family members back in Cuba. ``I have sisters that I still speak to,'' she said, ``and this situation is driving people crazy.''
The only thing on Cuban television is Elian's story, she said, and she feels the Cuban people are getting tired of the issue.
She does not speak to her brother and hasn't for several years. ``Nobody talks to Fidel, because he doesn't listen,'' Juanita Castro said. ``He talks and he decides.''
Juanita Castro said she has not visited the Miami relatives of Elian Gonzalez and has no plans to do so. Although she supports the cause of Miami's Cubans in their struggle against her brother's government, she said she prefers to keep a low profile when it comes to politics.
``I just work in my pharmacy every day and I pray for a resolution in our country (Cuba) that is without violence,'' she said. ``And I also pray for this young boy every day because he needs help. He's been through a lot.'' | [
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wsj_0736 | Document creation time: 10/27/89
Poughkeepsie Savings Bank said a plan to sell its South Carolina branch offices to First Citizens Bank, of Columbia, S.C., fell through.
Poughkeepsie also expects to post a one-time charge of $8.3 million, resulting in a net loss for the third quarter. The charge represents a write-down of the goodwill associated with Poughkeepsie's investment in the banks it is trying to sell and its North Carolina branches as well.
The thrift announced the plan Aug. 21. Among other reasons, high fees regulators imposed on certain transfers of thrift deposits to commercial banks "substantially altered the economics of the transaction for both parties," Poughkeepsie said.
Additionally, the bank is increasing its loan-loss reserves for the third quarter by $8.5 million before taxes.
In the year-earlier third quarter, Poughkeepsie Savings had net income of $2.8 million, or 77 cents a share.
Poughkeepsie said it is continuing to try to sell itself, under a June agreement with a dissident-shareholder group. The bank also said its effort would continue past the Nov. 1 deadline set in that agreement and that the litigation between the two sides might resume as a result. The thrift and the holders had suspended their lawsuits as part of the agreement. | [
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wsj_0557 | Document creation time: 10/30/89
RJR Nabisco Inc. said it agreed to sell its Baby Ruth, Butterfinger and Pearson candy businesses to Nestle S.A.'s Nestle Foods unit for $370 million.
The sale, at a higher price than some analysts had expected, helps the food and tobacco giant raise funds to pay debt and boosts Nestle's 7% share of the U.S. candy market to about 12%.
The candy businesses had sales of about $154 million last year, which was roughly 12% of total revenue for RJR's Planters LifeSavers unit, according to a memorandum distributed by RJR's owner, Kohlberg Kravis Roberts amp Co., to bankers last December.
The Nestle acquisition includes a candy plant in Franklin Park, Ill., which employs about 800 workers.
The sale, which had been expected, is part of KKR's program to pay down $5 billion of a $6 billion bridge loan by February. Roughly $2 billion of that debt has already been repaid from previous asset sales, and RJR expects to use another $2 billion from the pending, two-part sale of most of its Del Monte unit. That sale, however, could still fall through if financing problems develop. Thus, it remains crucial for RJR to obtain top dollar for its smaller assets like the candy brands.
Louis Gerstner Jr., chairman and chief executive officer of New York-based RJR, called the sale a "significant step" in the company's divestiture program, as well as a "a strategic divestiture." Since KKR bought RJR in February for $25 billion of debt, it has agreed to sell nearly $5 billion of RJR assets. RJR's executives have said they will dispense with certain brands, in particular, that aren't leaders in their markets. "RJR Nabisco and Planters LifeSavers will concentrate more on our own core businesses," Mr. Gerstner said Friday.
Baby Ruth and Butterfinger are both among the top-selling 15 chocolate bars in the U.S., but RJR's overall share of the roughly $5.1 billion market is less than 5%. Nestle's share of 7% before Friday's purchases is far below the shares of market leaders Hershey Foods Corp. and Mars Inc., which have about 40% and 36% of the market, respectively.
"This means Nestle is now in the candybar business in a big way," said Lisbeth Echeandia, publisher of Orlando, Fla.-based Confectioner Magazine. "For them, it makes all kinds of sense. They've been given a mandate from Switzerland" to expand their U.S. chocolate operations. Nestle S.A. is based in Vevey, Switzerland.
The new candy bars, "make an important contribution to our Nestle Foods commitment to this very important strategic unit," said C. Alan MacDonald, president of Nestle Foods in Purchase, N.Y. | [
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XIE19980821.0077 | Document creation time: 1998-08-21
NAIROBI, August 21 (Xinhua) --
Director of the U.S. Federal Bureau of Investigation (FBI) Louis Freeh said here Friday that U.S. air raid on Afghanistan and Sudan is not directly linked with the probe into the August 7 bombings in east Africa.
"This is an investigation proceeding on many fronts," said Freeh at a press conference at the Jomo Kenyatta airport before returning home. "I cannot detail or characterize the type of evidence we have gathered in Nairobi."
He said he cannot confirm there is any evidence linking the bomb blasts at the U.S. embassies in Kenya and Tanzania to the Saudi millionaire and the allegedly main sponsor of anti-U.S. terrorism, Osama Bin Laden, who now lives in Afghanistan.
"Hundreds of people have been interviewed" and investigators probably have to take quite a long time to compile evidence in the two bomb blasts so as to reach any conclusion, he said. Freeh flew to Washington immediately after the press conference.
U.S. President Bill Clinton said Thursday that he had ordered the strikes after receiving "convincing evidence" that the terrorist facilities the U.S. raided in Sudan and Afghanistan had played key roles in the bomb attacks in capitals of Kenya and Tanzania.
However, Freeh said although the bombing investigators from the FBI, Kenya and Tanzania have been working very hard and made "very good progress" on the case, so far no conclusion or decision can be made at this stage.
After touring Tanzanian capital Dar es Salaam Thursday and meeting with Kenyan police leaders Friday morning, the FBI chief also said that he is very satisfied with the close and effective cooperation among the FBI agents and the police in Kenya and Tanzania.
The man who hurled a grenade at security guards at the U.S. embassy here seconds before the bomb exploded was positively identified Thursday as two more suspects -- one Arab, one Sudanese -- who had been arrested, Kenya's national newspapers reported Friday.
Local sources said that the plan of bombing U.S. embassies in Kenya and Tanzania took three months to complete and bombers destined for Kenya were dispatched through Somalia and Rwanda.
A senior government official who saw the confessions of suspects was quoted Friday by local media as saying that an Egyptian Islamic Jihad group, linked with Laden, planned the attacks.
The car bomb attack at the U.S. embassy in Nairobi killed 253 people and injured 5,000 others.
A nearly simultaneous car bombing outside the U.S. embassy in Tanzania killed 10 people and wounded about 70 others.
Earlier, the U.S.'s demand for Laden's extradition from Afghanistan has been refused by the Taliban government. | [
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PRI19980205.2000.1890 | Document creation time: 19980205
The US is bolstering its military presence in the gulf, as President Clinton discussed the Iraq crisis with the one ally who has backed his threat of force, British prime minister Tony Blair. The World's Nancy Marshall reports on Mr. Blair's current visit to Washington and the special relationship between the two leaders.
President Clinton rolled out the red carpet for prime minister Blair, welcoming him not only as a close ally, but a close friend.
Posing for photographers with Clinton, Blair pledged to stand united with the president against Iraq, warning Saddam Hussein that the threat of force is real. The British aircraft carrier invincible is now patrolling the Persian Gulf alongside three US vessels. Washington and London are virtually alone in warning Iraq of military strikes if it doesn't back down on the weapons inspection issue. President Clinton says he and Blair will stand together not just on Iraq but also on arresting the terrorists suspected of blowing up Pan Am flight one oh three over Scotland. For The World I'm Nancy Marshall in Washington. | [
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APW19980811.0474 | Document creation time: 1998-08-11
MANILA, Philippines (AP) _
Philippine President Joseph Estrada on Tuesday condemned the bombings of the U.S. embassies in Kenya and Tanzania and offered condolences to the victims and their families.
``We extend our heartfelt sympathies to the victims of these outrages and to their families in Kenya, Tanzania and the United States,'' Estrada said in a statement. ``No cause is so great that it can justify wanton murder and maiming of the innocent.''
In all, the bombings in Kenya and Tanzania last week claimed at least 217 lives and injured nearly 5,000. | [
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wsj_0316 | Document creation time: 11/01/89
First Security Corp. said it tentatively agreed to acquire Deseret Bancorp. for stock valued at about $18 million.
Terms call for First Security to issue about 0.55 share of its stock for each Deseret share held, or a total of about 550,000 First Security shares. It has about 12.3 million shares outstanding.
Deseret, with about $100 million in assets, is the parent of the Deseret Bank, which has six offices and headquarters at Pleasant Grove, Utah. The purchase price is equal to about 1.65 times Deseret's roughly $10.7 million book value, or assets less liabilities.
Salt Lake City-based First Security, with $5.4 billion in assets, said the agreement is subject to shareholder and regulatory approval, and that it hopes to complete the transaction early next year. | [
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ABC19980114.1830.0611 | Document creation time: 19980114
In Washington today, the Federal Aviation Administration released air traffic control tapes from the night the TWA Flight eight hundred went down. There's nothing new on why the plane exploded, but you cannot miss the moment. ABC's Lisa Stark has more.
There was no hint of trouble in the last conversation between controllers and TWA pilot Steven Snyder TWA eight hundred climb maintain one five thousand.
TWA's eight hundred heavy climb and maintain one five thousand leavin- three thousand.
But a minute and a half later, a pilot from a nearby flight calls in.
Ah, we just saw an explosion up ahead of us here about sixteen thousand feet or something like that. It just went down.
The controller at Boston center tries to raise TWA eight hundred.
TWA eight hundred, if you hear center, ident.
There is no response. Later, the controller asks the Eastwind pilot for more details.
Ah yes, sir. It- It just blew up in the air, and then we saw two fireballs go down to the, to the water, and there was a big small, ah, smoke, from ah, coming up from that.
At one point, when it became clear controllers could not contact the plane, someone said a prayer.
TWA eight hundred center, I think that was him.
I think so.
God bless him.
Lisa Stark ABC news Washington | [
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wsj_1006 | Document creation time: 10/26/89
In a stunning shift in direction, Provigo Inc. said it will sell all its non-food operations to concentrate solely on its retail and wholesale grocery business. The non-food operations accounted for about 27% of Provigo's 7.38 billion Canadian dollars (US$6.3 billion) in sales in the latest fiscal year.
In a related move, Pierre Lortie, chairman and chief executive, resigned. Mr. Lortie joined Provigo in 1985 and spearheaded the company's drive to grow outside its traditional food business. He couldn't be reached for comment.
Bertin Nadeau, newly appointed chairman and interim chief executive of Provigo, wouldn't say if Mr. Lortie was asked to leave. "Mr. Lortie felt less pertinent," Mr. Nadeau said, given the decision to dump Provigo's non-food operations. "At this stage it was felt I was perhaps more pertinent as chief executive." Mr. Nadeau also is chairman and chief executive of Unigesco Inc., Provigo's controlling shareholder.
At a news conference, Mr. Nadeau said the sale of the three non-food businesses, which account for nearly half the company's C$900 million in assets, should be completed in a "matter of months." The three units are a nationwide pharmaceutical and health-products distributor, a small sporting-goods chain, and a combination catalog showroom and toy-store chain.
Investors and analysts applauded the news. Provigo was the most active industrial stock on the Montreal Exchange, where it closed at C$9.75 (US$8.32), up 75 Canadian cents.
"I think it's a pretty positive development," said Ross Cowan, a financial analyst with Levesque Beaubien Geoffrion Inc., of the decision to concentrate on groceries. Mr. Lortie's departure, while sudden, was seen as inevitable in light of the shift in strategy. "The non-food operations were largely Mr. Lortie's creation {and} his strategy didn't work," said Steven Holt, a financial analyst with Midland Doherty Ltd.
Provigo's profit record over the past two years tarnished the company's and Mr. Lortie's reputations. For the six months ended Aug. 12, Provigo posted net income of C$6.5 million, or eight Canadian cents a share, compared with C$18.1 million, or 21 Canadian cents a share, a year earlier. Sales were C$4.2 billion compared with C$3.7 billion. Last month, Canadian Bond Rating Service downgraded Provigo's commercial paper and debentures because of its lackluster performance.
Analysts are skeptical Provigo will be able to sell the non-food businesses as a group for at least book value, and are expecting write-downs. Mr. Nadeau said he couldn't yet say if the sale prices would match book values. He said all three non-food operations are profitable.
Mr. Nadeau said discussions are under way with potential purchasers of each of the units. He declined to confirm or deny reports that Provigo executive Henri Roy is trying to put together a management buy-out of the catalogue showroom unit. Mr. Roy couldn't be reached.
Yvon Bussieres was named senior executive vice president and chief operating officer of Provigo, a new position. Mr. Bussieres was president and chief operating officer of Provigo's Quebec retail and wholesale grocery unit. Mr. Nadeau said he intends to remain Provigo's chief executive only until the non-food businesses are sold, after a which a new chief executive will be named. | [
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wsj_0709 | Document creation time: 10/27/89
Service Corp. International said it expects to report net income of 15 cents a share for the third quarter. The company said it expects to release third-quarter results in mid-November.
The funeral home and cemetery operator changed from a fiscal year to a calendar year in December. In the comparable year-ago quarter, the second quarter ended Oct. 31, Service Corp. had a loss of about $12.5 million, or 26 cents a share, on revenue of $175.4 million. Results for that quarter included a $30 million, or 40 cents a share, write-down associated with the consolidation of a facility. | [
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APW19980213.1310 | Document creation time: 02/13/1998 14:26:00
Turning its back on 210 years of loyalty to the British royal family, a constitutional convention voted overwhelmingly Friday to make Australia a republic under its own president. Prime Minister John Howard, a monarchist himself, promised to put the question to a national referendum next year after convention delegates voted 89-52 for a republic, with 11 abstentions. Spontaneous applause echoed through the chamber and public galleries as the crucial vote passed by a wide margin. ``I want a referendum,'' Howard said. ``The Australian people are owed the opportunity of expressing an opinion on this.'' ``It would be a travesty in common sense terms of Australian democracy for that proposition not to be put to the Australian people,'' Howard said. Even in his own Cabinet, Howard is becoming increasingly isolated with his monarchist stance. Treasurer Peter Costello, Environment Minister Robert Hill and Attorney General Daryl Williams all voted to support the republic Friday. ``This convention will be seen as a turning point in our history,'' Australian Republican Movement spokeswoman Mary Delahunty said. Pro-republicans hope to have an Australian president by the opening of the 2000 Olympics and the 100th anniversary of Australian federation. Calling for an amended constitution with a new preamble, to be written by Australian poets, republican Janet Holmes a Court said, ``We need the smell of eucalyptus in this, and the feel of red dust.'' Monarchists hope to defeat the republic at the referendum. ``The phony war has finished and the real referendum campaign has clearly begun,'' Australians for a Constitutional Monarchy executive director Kerry Jones said. ``Well may we say `God save the Queen,' for nothing will save the republic,'' outraged monarchist delegate David Mitchell said. ``The idea of a republic will fall to dust through the grace of almighty God.'' Polls have shown public support for a republic increasing, rising from about 35 percent several years ago to about 51 percent this year, as pro-monarchist sentiment diminishes. Australia has been independent since 1901, but like many Commonwealth nations it still recognizes the British monarch as its head of state. Howard said Queen Elizabeth II is taking a great interest in the convention. ``She is, I can assure you, from what I've been told, she's following the thing very closely and taking the view it's our business. ``It's no secret that she's indicated to me... she is a 20th century democrat, understands that the role of the crown in Australia rests in the hands of the Australian people as it has for almost a hundred years.'' The model for a republic, adopted over bitter objections from those advocating direct election of a president, is for presidential nominations to be made with public input and the winning candidate decided by a two-thirds majority of Parliament. Former prime minister Paul Keating, who put the republic issue in the spotlight in his unsuccessful 1996 campaign for re-election, welcomed the result. ``This is an important step along the path towards Australia claiming its full sovereignty, and due recognition that the monarchy can no longer serve us appropriately,'' Keating said. | [
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NYT20000424.0319 | Document creation time: 2000-04-24
The Clinton administration's wisdom in returning Elian Gonzalez to his father was confirmed over the weekend decision of his Miami relatives and their Republican allies to further politicize what ought to be a straightforward child-custody case. Elian is finally getting time to reconnect with his father in a quiet, neutral setting where he is no longer a metaphor for the war between the Cubans.
A few miles from his temporary home at Andrews Air Force Base, Senator Bob Smith of New Hampshire, Representative Tom DeLay of Texas, both Republicans, and the relatives were treating the raid to return Elian as though it were a Nazi SS operation. Yet federal agents had a warrant, were enforcing US law, and entered the house with the proper force to ensure minimal resistance and injury. It was a model of efficient law enforcement, guided by due process.
The raid was necessary because the Gonzalez relatives in Miami, refusing to return the boy, made him into a symbol of resistance to Fidel Castro. Elian printed his name on an application for asylum and was put in front of a video camera to say that he did not want to go back to Cuba. The relatives treated the boy like a political prop.
As did Castro, a master manipulator of public opinion in Cuba. Had the relatives allowed Elian to return to Cuba, they would have denied the dictator an opportunity to reenergize support for his regime.
Juan Miguel Gonzalez apparently is a Castro supporter, but that should not disqualify him from being reunited with his child. Ever since he first learned that Elian was in Florida last November, he has been persistent in seeking the boy's return.
Elian has developed great affection for the Miami relatives. It would be ideal if they could have returned him to his father yet stayed in contact while their appeal was pending in court. Negotiations failed, however, because they insisted on taking the place of the father, rather than being treated as concerned, yet distant, relatives.
Juan and Elian Gonzalez will remain in the United States pending the appeal. The father can remain here, but he can also return to Cuba if he wishes. Like any other 6-year-old in the care of a loving parent, Elian should go wherever that parent wants. | [
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WSJ900813-0157 | Document creation time: 08/13/90
Iraq's Saddam Hussein, his options for ending the Persian Gulf crisis growing increasingly unpleasant, assumed the role of embattled Arab hero in offering his first rough proposal for a negotiated end to the confrontation. The Iraqi leader, in an "initiative" designed as much to rally Arab public opinion as to launch meaningful negotiations, announced yesterday that he will withdraw his troops from Kuwait only if Israel withdraws from the West Bank and Syria from Lebanon. He apparently hopes to lure support from Arabs who have spurned him so far by suggesting that Iraq will use its occupation of Kuwait as a lever to solve the Arab world's most frustrating problem, the 23-year Israeli occupation of land claimed by Palestinians.
Even as Saddam Hussein was searching for a ploy to ease his isolation, though, the international pressure against him clicked up another notch. The White House yesterday disclosed that Kuwait's ousted government has formally asked the U.S. to enforce the total trade embargo the United Nations has imposed on Iraq, allowing the U.S. and other nations to immediately begin stopping ships carrying Iraqi goods. Secretary of State James Baker, speaking on ABC News' "This Week," said the Kuwaiti request gives the U.S. and other countries "a legal basis for stopping the export of oil and that sort of thing." The U.S. maintains that under the U.N. charter, the Kuwaiti request triggers steps for the collective enforcement of international sanctions. Mr. Baker declined to use the word blockade, but said that "interdiction" of Iraqi shipments would begin " almost instantly." In a statement, the White House said it would do "whatever is necessary" to ensure compliance with the sanctions. Other Bush administration officials said that the international naval force in the area -- consisting of American, British, French, Canadian, Soviet, German and Australian ships -- may be used both to stop oil exports from leaving Iraq and Kuwait and to stop shipments of food and other goods from going in. President Bush implied as much yesterday when reporters asked whether the interdiction would apply to food. The president responded, "Everything, everything." While shying away from actually using the word "blockade," Mr. Bush acknowledged that the U.S. and others were trying to block shipping to Iraq. "No point getting into all these semantics," he said. "The main thing is to stop the oil from coming out of there." The naval interdiction force is part of an overall American strategy that officials say is designed to leave the Iraqi leader with only the stark choice of backing out of Kuwait or launching new attacks to change his situation. Though they insist they aren't trying to lure Saddam Hussein into an attack, officials hope that if he strikes again, the U.S. and its allies will have such an impressive force in place in Saudi Arabia that they will be able to crush him in retaliation. Iraq's first option, of course, may be simply to sit tight and hope it can endure a trade embargo longer than the West can live without Iraqi and Kuwaiti oil. Speaking on the ABC program, Abdul Amir al-Anbari, Iraq's ambassador to the U.N., asserted that an embargo on Iraq could plunge the U.S. into a "depression" and the rest of the world into an economic "crisis." Iraq clearly is trying to woo back more Arab support in case the conflict drags on, hoping that its neighbors eventually will help it survive a prolonged war of economic attrition with the West. So Saddam Hussein on Friday tried to scare other Arab leaders into supporting him by calling on Arabs to rise up in a holy war against leaders who invited American and other Western soldiers into Saudi Arabia to protect the oil-rich kingdom. Then yesterday, he tried to entice Arab leaders with his proposal for a diplomatic solution linking his occupation of Kuwait with Israel's occupation of the West Bank. The proposal also called for replacing American and other Western troops in Saudi Arabia with Arab forces. The Bush administration immediately said it "categorically " rejects the proposals. And President Bush yesterday, asked whether he was at least glad Iraq is discussing negotiations, replied: "I don't see anything to be pleasing in there at all." American strategists are calculating, though, that the trade sanctions -- enforced by an effective though perhaps undeclared naval blockade -- will hold tightly enough to convince Iraq that it will lose in the long run by simply standing pat. At that point, rather than go through the humiliation of backing out of Kuwait, the Iraqis might well conclude that they need to lash out in some way to shake things up. In that event, Saddam Hussein appears to have three choices. The first would be to launch the much-feared direct invasion of Saudi Arabia, hoping to seize some Saudi oil fields and improve his bargaining position. But that option is growing less and less likely as thousands of American, British, Egyptian, Syrian and Moroccan forces assemble in and around Saudi Arabia to protect the kingdom. The Saudis even have in their possession 48 Kuwaiti jet fighters, virtually the entire Kuwaiti air force, which managed to escape the Iraqi invasion, Saudi officials said. The Saudi "window of vulnerability... is closing very fast," Prince Bandar bin Sultan, the Saudi ambassador to Washington, said over the weekend. The second possibility would be to start a fight with Israel, in hopes that all Arabs would have to move behind Iraq in a fight against their common Israeli enemy. In such an event, Saddam Hussein also might calculate, the Saudis would be under pressure to kick out U.S. troops because of America's close ties with Israel. Iraq could start hostilities with Israel either through a direct attack or by attacking Jordan. Israel has publicly declared that it will respond to an Iraqi attack on Jordan because it won't allow Iraq's dangerous army to take control of Jordan's long border with Israel. Iraq's third attack option would be to start an undeclared war on the U.S. and other Western nations through terrorism. Two Middle East terrorists with records of successful attacks against Western targets, Abu Nidal and Abu Abbas, have ties to Baghdad. And even terrorist groups that opposed Iraq in its war with Iran show signs of swinging behind Saddam Hussein now that he is in a confrontation with the U.S. And Iraq still has thousands of Americans and other Westerners under its control in Iraq and Kuwait. They aren't being allowed to leave and could become hostages. If Iraq chooses a simple war of nerves and economic attrition, the Bush administration knows a long stalemate could try the patience of the American public and the West in general, and could open the possibility that moderate Arabs -- even including Saudi Arabia -- might drop out of the effort against Iraq and accept some deal from Saddam Hussein. But U.S. officials have sized up Saddam Hussein as a man who, despite some recklessness, will back down if he must. "This is a guy who is impulsive, and therefore capable of big miscalculations," says one senior administration official involved in managing the crisis. The official adds, though, that "at the same time, we think he is someone who is capable of rational judgments when it comes to power. And when he finds something is unprofitable, then one can see certain accommodations." Thus, administration aides will be trying to calculate whether Saddam Hussein's proposed diplomatic formula for getting out of Kuwait represents the first sign he is searching for a way out or simply is a public relations stunt. There are disagreements among experts about how much pressure will be needed to make Saddam Hussein decide he's up against the wall and whether simple economic pressure will ever be enough. The biggest worry is that if he decides he needs a way out of his predicament but doesn't see a face-saving method, he could lash out in dangerous and unpredictable ways. U.S. officials claim they already see signs Saddam Hussein is getting nervous. In the first days after President Bush announced the dispatching of U.S. troops, they note, the Iraqi leader made several nationwide addresses indirectly -- having them read by a television announcer. "That shows he's nervous about pinpointing his location, either because he's afraid we'll find him, or that internal enemies will," says one U.S. official. The unpredictability of Iraq's leader is a principal reason the U.S. is going to such great lengths to build a mammoth force in and around Saudi Arabia. Pentagon officials say the goal is to put 40,000 troops in the region by the end of the month. But the administration isn't putting any upper limit on how high the force could go after that, calculating that it would be a mistake to underestimate and an advantage to keep Saddam Hussein guessing. U.S. commanders in charge of planning for Middle East crises have indicated in the past that they were capable of deploying as many as 300,000 troops. And the U.S. is taking similar steps to ensure that its naval force is adequate to carry out a blockade of Iraq and support a war if necessary. Over the weekend, Pentagon officials confirmed reports that a fourth U.S. aircraft carrier -- the John F. Kennedy -- and its powerful group of support ships could head for the Middle East within a few days. Three other carriers and their escort vessels already are stationed within striking distance of Iraq or are steaming toward the area. But unless the military situation changes drastically, military officials say, the most likely plan will be for the Kennedy to eventually replace the carrier Dwight D. Eisenhower, which has been on patrol since March and was scheduled to return to port before hostilities erupted in Kuwait. --- Andy Pasztor contributed to this article. | [
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APW20000107.0318 | Document creation time: 2000-01-07
MIAMI (AP) --
In efforts to prevent Elian Gonzalez's return to Cuba, an anti-Castro lawmaker subpoenaed him Friday to testify before a congressional committee and one of his Miami relatives sought to become his legal guardian.
Rep. Dan Burton, R-Ind., said he subpoenaed 6-year-old Elian to testify before the Committee on Government Reform on Feb. 10, so he remains in the country while the courts consider his case.
About 100 supporters cheered wildly as Elian -- holding the subpoena in front of his face while being held aloft by a relative -- appeared outside the house where he has been staying with relatives. He gave the peace sign before heading back indoors.
But in Cuba, Elian's father was angry about Burton's subpoena.
``What right does that man have?'' Juan Miguel Gonzalez said during a news conference in his hometown of Cardenas. ``I am the father of Elian and immigration has said that I am the only one who can speak for him
``Why should it be delayed? Who is he? He is no one. I am the father.''
Elian was found Thanksgiving Day clinging to an inner tube at sea after his mother, stepfather and eight other people drowned while trying to reach Florida by boat.
The boy was placed with his great-uncle and great-aunt in Miami, but the Immigration and Naturalization Service ruled Wednesday that he must be returned to his father in Cuba by Jan. 14. The decision touched off protests in the Cuban-American community.
Burton, the committee's chairman, said in a release he ``issued a subpoena to Elian Gonzalez to ensure that no precipitous action is taken until the Florida State court in Miami can adequately address the Gonzalez case.''
Burton is an outspoken critic of the Castro regime. A 1996 law named for him and Sen. Jesse Helms, R-N.C., strengthened the 1959 trade embargo against Cuba.
Committee sources who spoke on the condition of anonymity said that while the subpoena requires that Elian attend the hearing in Washington, it's highly unlikely that his actual appearance will be sought.
``The Congress of the United States is affording Elian Gonzalez what INS and this administration has not, which is his legal right and his right to due process,'' said Jorge Mas Santos, chairman of the Cuban American National Foundation. ``This gives him the protection that he will not be repatriated to Cuba between now and Feb. 10.''
Earlier Friday, lawyers filed a petition on behalf of Elian's great-uncle, Lazaro Gonzalez. It is an attempt by his Miami relatives to get guardianship and then to file for applications for admission to the United States and asylum, said David Abraham, an immigration law professor at the University of Miami.
Neither the lawyers nor Elian's relatives would comment before the judge's ruling, which is expected early next week.
In Cuba, meanwhile, tens of thousands of people rallied in a seaside plaza Friday night to demand his return. ``Elian, Cardenas awaits you ... with kisses,'' a Cuban country music band sang.
Also Friday, Miami-Dade Mayor Alex Penelas and Miami Mayor Joe Carollo, accompanied by one of the family's lawyers, flew to Washington to appeal directly to Attorney General Janet Reno. Gov. Jeb Bush also asked President Clinton to reverse the INS order.
Reno said she is considering the issues raised in the meeting and the state court action.
``I plan to respond as quickly as possible,'' she said in a statement.
Reno has said she was consulted on the INS decision and approved of it. Clinton said Friday the INS did the right thing.
``I believe they followed the law,'' Clinton said. ``This is a volatile and difficult case. ... We need to keep this out of the political process as much as possible.''
In contrast to Thursday, when two Cuban exile leaders and 133 other people were arrested and police were forced to use tear gas to disperse a crowd, protesters in Miami were much calmer Friday.
However, the Cuban exile community called for more civil disobedience. About 100 protesters marched in front of the federal building in Orlando on Friday night, waving Cuban and American flags and chanting ``Cuba libre'' and ``long live the USA.''
Two men carried a banner that said ``President Clinton, Please keep Elian in the United States.''
Protesters planned a large demonstration in Little Havana on Saturday and were planning to drive around Miami International Airport on Monday.
``If the child is sent back to Cuba without his day in court, all hell is going to break loose,'' said Jose Basulto, founder of Brothers to the Rescue, an anti-Castro group.
The rally in Cardenas, Cuba, was marked by songs, tears and personal recollections of Elian. It was the most personal and emotional of many held since early December, when Cuban President Fidel Castro promised mass mobilization until the boy was returned to his father.
Elian's father, his four grandparents and his great-grandmother began weeping as they sat in a row of chairs facing the stage as the group sang of the boy's mother. Gonzalez looked particularly distraught, his eyes red from crying.
During the day Friday, Elian played in his relatives' yard with a puppy named Dolphin, a gift from Rep. Lincoln Diaz-Balart, R-Fla. The black Labrador chased Elian around the yard and playfully nipped at his blue soccer shorts.
``Elian tells me he does not want to go back to Cuba,'' said Delfin Gonzalez, another of Elian's great-uncles. He said Elian wants his family to come here. | [
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wsj_1011 | Document creation time: 10/26/89
Delta Air Lines earnings soared 33% to a record in the fiscal first quarter, bucking the industry trend toward declining profits.
The Atlanta-based airline, the third largest in the U.S., attributed the increase to higher passenger traffic, new international routes and reduced service by rival Eastern Airlines, which is in bankruptcy proceedings in the wake of a strike that began last spring.
For the quarter ended Sept. 30, Delta posted net income of $133.1 million, or $2.53 a share, up from $100 million, or $2.03 a share, a year earlier.
Revenue rose 15% to $2.17 billion from $1.89 billion. During the quarter, Delta issued 2.5 million shares of common stock to Swissair, and repurchased 1.1 million shares for use in a company employee stock ownership plan.
"The key to Delta's record earnings continued to be excellent passenger revenue growth," said Thomas Roeck, chief financial officer. Passenger traffic jumped 14% in the quarter, while profit per passenger grew 2%.
Delta has benefited more than other carriers from the weakness of Eastern Airlines, which shares the Atlanta hub. Although Eastern is back to about 80% of its pre-strike schedule now, the Texas Air Corp. subsidiary was only beginning to get back on its feet during the quarter.
Separately, America West Airlines, Phoenix, Ariz., reported third-quarter profit jumped 45% to $5.8 million, or 28 cents a share, from $4 million, or 24 cents a share, a year earlier. The latest results include a $2.6 million one-time payment from a "foreign entity." America West wouldn't identify the entity, but said the payment was for the foreign company's use of certain tax benefits in connection with America West plane purchases. Year-earlier results included an extraordinary gain of $1.6 million from a buy-back of convertible subordinated debentures.
Revenue rose 21% to $243.4 million from $201.2 million. For the nine months, America West posted earnings of $18.9 million, or 97 cents a share, compared with a loss of $9.7 million, or 74 cents a share, a year earlier. Revenue rose 27% to $715.1 million from $563.8 million. | [
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NYT20000113.0267 | Document creation time: 2000-01-13
ATLANTA _
Good for Attorney General Janet Reno for the sensible opinion she rendered in the case of Elian Gonzalez. Some semblance of constitutional order was necessary after a Miami judge turned legal logic on its head in an effort to route to her family court his Florida relatives' appeal to keep the 6-year-old in the United States.
Immigration, after all, is strictly a federal matter. If the Immigration and Naturalization Service order that Elian must be returned to his father in Cuba is to be contested, Reno ruled correctly that the only proper venue is federal court, not state or local.
If and when the relatives' appeal goes to federal court, chances of a favorable ruling are slim. First of all, the INS already has taken the position the only person who can petition for U.S. asylum for Elian is his father, which he is not about to do. Moreover, immigration law provides that asylum can only be granted where there is an imminent threat of torture or persecution in the petitioner's homeland, which nobody expects in Elian's case.
It's not enough to argue Elian may suffer privation or oppression in Fidel Castro's failed Communist state. The INS routinely sends prospective immigrants back to countries where poverty and tyranny are worse than in Cuba.
What matters most is that Elian, after losing his mother and stepfather in a disastrous sea voyage to the United States last November, needs the love and care of surviving family members who've known him all his life _ his father and both sets of grandparents in Cuba. True, they can't give him all the material things his Miami benefactors can, but there are intangibles in close family bonds that are more valuable than bicycles and trips to Disney World.
The next order of business for the Justice Department and the INS is to resolve Elian's case promptly. They mustn't countenance any delays by lawyers for his Miami relatives. He has been separated from his loved ones too long.
Besides, the longer his return is put off, the greater the chance of interference by calculating congressmen playing to the anti-Castro lobby. Already one grandstanding Indiana Republican has subpoenaed Elian to testify before a House panel, and others in the Senate are preparing to vote the boy U.S. citizenship. Both ploys are intended to thwart his reunion with his father.
Congress reconvenes Jan. 24. The Justice Department and the INS mustn't allow the opportunists of Capitol Hill to get their hooks into Elian. | [
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wsj_0637 | Document creation time: 10/30/89
John Labatt Ltd. said it plans a private placement of 150 million Canadian dollars (US$127.5 million) in preferred shares, to be completed around Nov. 1.
Proceeds will be used to reduce short-term debt at the beer and food concern, said Robert Vaux, vice president, finance.
The preferred shares will carry a floating annual dividend equal to 72% of the 30-day bankers' acceptance rate until Dec. 31, 1994. Thereafter, the rate will be renegotiated. Mr. Vaux said that if no agreement is reached, other buyers will be sought by bid or auction. The shares are redeemable after the end of 1994.
Mr. Vaux said the share issue is part of a strategy to strengthen Labatt's balance sheet in anticipation of acquisitions to be made during the next 12 to 18 months. Labatt's has no takeover bids outstanding currently, he said.
Lead underwriter to the issue is Toronto Dominion Securities Inc. | [
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wsj_0760 | Document creation time: 10/27/89
Norton Co. said net income for the third quarter fell 6% to $20.6 million, or 98 cents a share, from $22 million, or $1.03 a share.
Operating profit for the abrasives, engineering materials and petroleum services concern was $19.2 million, or 91 cents a share, up 3% from $18.7 million, or 87 cents a share.
The company had a tax credit of $1.4 million. In the year-earlier quarter, the tax credit was $3.3 million. Sales rose 8% to $368.5 million from $340.7 million.
Operating profit in the company's abrasives segment rose 16% while operating profit in the engineering materials segment rose 2%. However, the company's petroleum services segment, while profitable, was hurt by high financing costs associated with the company's buy-out of a 50% stake in Eastman Christensen Co. from Texas Eastern Corp. last June. Norton and Texas Eastern had each held a 50% stake in Eastman in a joint venture.
Norton announced earlier this month that it was exploring the possible sale of all or part of Eastman Christensen.
For the nine months, Norton had net of $81.2 million, or $3.87 a share, and a tax credit of $4.4 million. In the year-earlier period, the company had net of $77.2 million, or $3.68 a share, and a tax credit of $7.7 million.
Norton had operating profit of $76.8 million, or $3.66 a share, up 11% from $69.5 million, or $3.31 a share.
Sales rose 8% to $1.15 billion from $1.06 billion. | [
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wsj_1025 | Document creation time: 10/26/89
Sotheby's Holdings Inc., the parent of the auction house Sotheby's, said its net loss for the seasonally slow third quarter narrowed from a year earlier on a leap in operating revenue.
The New York-based company reported a third-quarter net loss of $5.1 million, or 10 cents a share, compared with a year-earlier net loss of $6.2 million, or 12 cents a share. Operating revenue surged 54% in the latest period to $42.9 million from $27.7 million.
The company said 80% of its auction business is usually conducted in the second and fourth quarters, with the current quarter having begun " extremely well." | [
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wsj_1008 | Document creation time: 10/26/89
Lawrence Insurance Group Inc. said it acquired United Republic Reinsurance Co., a Houston property and casualty reinsurance company, from United Savings Association of Texas for $28 million.
Lawrence Insurance also sold 3.2 million of its shares for $7.125 each to its parent, Lawrence Group Inc. Lawrence Insurance, based in Albany, N.Y., plans to use the $22.5 million in proceeds to help finance the acquisition of United Republic.
By acquiring the shares, Lawrence Group increased its stake in Lawrence Insurance to 93.2% from 91.2%. Lawrence Insurance underwrites mostly primary insurance, a company spokesman said. A reinsurance company effectively insures insurance companies that wish to spread the risk of a particular policy.
Lawrence Group also owns Lawrence Agency Corp., Schenectady, N.Y., an insurance agency and brokerage. | [
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wsj_0778 | Document creation time: 10/27/89
The government is sharpening its newest weapon against white-collar defendants: the power to prevent them from paying their legal bills. And defense lawyers are warning that they won't stick around if they don't get paid.
The issue has come to a boil in Newark, N.J., where federal prosecutors have warned lawyers for Eddie Antar that if the founder and former chairman of Crazy Eddie Inc. is indicted, the government may move to seize the money that Mr. Antar is using to pay legal fees.
The warning by the U.S. attorney's office follows two decisions by the U.S. Supreme Court last June. In those cases, the high court ruled that federal law gives prosecutors broad authority to seize assets of people accused of racketeering and drug-related crimes, including fees paid to lawyers before an indictment.
If the government succeeds in seizing Mr. Antar's assets, he could be left without top-flight legal representation, because his attorneys are likely to quit, according to individuals familiar with the case. A seizure also would make the case the largest -- and one of the first -- in which lawyers' fees have been confiscated in a prosecution unrelated to drugs.
"The people who suffer in the short run are defendants, but the people who suffer in the long run are all of the people, because there won't be a vigorous private bar to defend the Bill of Rights," says Gerald Lefcourt, a criminal defense attorney who says he has turned down a number of cases to avoid possible fee seizures.
Mr. Antar is being investigated by a federal grand jury in Newark, where prosecutors have told him that they may soon seek an indictment on racketeering and securities fraud charges. Under the Racketeer Influenced and Corrupt Organizations law, or RICO, the government has the authority to seek to freeze or seize a defendant's assets before trial.
According to individuals familiar with Mr. Antar's case, prosecutors issued their warning this week after one of Mr. Antar's attorneys asked whether legal fees might be subject to seizure. In a letter, prosecutors told Mr. Antar's lawyers that because of the recent Supreme Court rulings, they could expect that any fees collected from Mr. Antar may be seized. Prosecutors have told Mr. Antar's attorneys that they believe Mr. Antar's allegedly ill-gotten gains are so great that any money he has used to pay attorneys derives from illegal activities. Therefore, they said, the money can be taken from the lawyers even after they are paid.
Justin Feldman and Jack Arseneault, attorneys for Mr. Antar, both declined to comment on the matter.
In Newark, U.S. Attorney Samuel A. Alito said, "I don't think there's any legal reason to limit forfeiture of attorney's fees to drug cases." Mr. Alito said his office "just responded to an attorney's question about whether we would go after attorney's fees, and that is different from actually doing it, although we reserve that right."
Mr. Antar was charged last month in a civil suit filed in federal court in Newark by the Securities and Exchange Commission. In that suit, the SEC accused Mr. Antar of engaging in a "massive financial fraud" to overstate the earnings of Crazy Eddie, Edison, N.J., over a three-year period. Through his lawyers, Mr. Antar has denied allegations in the SEC suit and in civil suits previously filed by shareholders against Mr. Antar and others.
The SEC has alleged that Mr. Antar aimed to pump up the company's stock price through false financial statements in order to sell his stake and reap huge profits. Mr. Antar, the SEC said, made more than $60 million from the sale of his shares between 1985 and 1987.
The Justice Department has emphasized that the government's fee-forfeiture power is to be used sparingly. According to department policy, prosecutors must make a strong showing that lawyers' fees came from assets tainted by illegal profits before any attempts at seizure are made.
Still, criminal defense lawyers worry that defendants are being deprived of their Sixth Amendment right to counsel and a fair trial if the government can seize lawyers' fees. They also worry that if the government applies asset-forfeiture laws broadly, the best defense lawyers will be unwilling to take criminal cases unless they are assured of being paid. | [
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APW19980418.0210 | Document creation time: 04/18/1998 06:07:00
BUDAPEST, Hungary (AP)_ Tired of being sidelined, Hungarian astronaut Bertalan Farkas is leaving for the United States to start a new career, he said Saturday. ``Being 48 is too early to be retired,'' a fit-looking Farkas said on state TV's morning talk show. With American astronaut Jon McBride, Farkas set up an American-Hungarian joint venture called Orion 1980, manufacturing space-travel related technology. Farkas will move to the company's U.S. headquarters. Farkas, an air force captain, was sent into space on board the Soyuz 36 on May 26, 1980. He spent six days aboard the Salyut 6 spacecraft with three Soviet astronauts, Valery Kubasov, Leonid Popov and Valery Riumin. McBride, 54, of Lewisburg, West Virginia, was part of a seven-member crew aboard the Orbiter Challenger in October 1984 and later served as assistant administrator for congressional relations for NASA. Farkas expressed the hope he one day follow in the footsteps of fellow astronaut John Glenn, who at 77 is about to go into space again. On May 22, 1995, Farkas was made a brigadier general, and the following year he was appointed military attache at the Hungarian embassy in Washington. However, cited by District of Columbia traffic police in December for driving under the influence of alcohol, Farkas was ordered home and retired. (ab/dc) | [
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wsj_1033 | Document creation time: 10/26/89
Esselte AB, the Stockholm office supplies company, as expected, proposed to acquire the 22% it doesn't own of its U.S. unit, Esselte Business Systems Inc.
The price in the proposal is $43.50 for each of the 4.9 million shares the parent doesn't own, or $213.2 million.
In New York Stock Exchange composite trading, Esselte closed yesterday at $43.50 a share, up $1.
A committee of outside directors for the Garden City, N.Y., unit is evaluating the proposal; the parent asked it to respond by Oct. 31. The unit said it can provide no assurance a transaction will occur.
Esselte AB sold the minority stake five years ago in a $40 million international share offering. The unit, which is the holding company for Esselte's non-Swedish units, accounted for 58% of sales and 71% of operating profit last year.
Separately, Esselte Business Systems reported third-quarter net income fell 5.9% to $9.5 million, or 46 cents a share, from $10.1 million, or 49 cents a share, in the year-ago period. Sales rose 2.9% to $329.2 million from $320 million. | [
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wsj_0810 | Document creation time: 10/27/89
Cie. de Navigation Mixte Chairman Marc Fournier said his board unanimously rejected as too low the $1.77 billion bid by Cie. Financiere de Paribas to bring its stake in Navigation Mixte to 66.7%.
At a news conference, Mr. Fournier accused Paribas of planning to pay for the takeover by selling parts of the company, whose interests include insurance, banking, tuna canning, sugar and orange juice.
The chairman said his board members, including representatives of West German insurance giant Allianz AG and French banks Credit Lyonnais and Societe Generale, hold nearly 50% of Navigation Mixte's capital.
Mr. Fournier said that as Navigation Mixte chairman, he is prohibited by takeover regulations from organizing his own defense or doing anything besides managing current company business. But sources said he will be urging his allies to boost their stakes in Navigation Mixte, which is being traded in London and is to resume trading in Paris Tuesday. At the same time, he is expected to seek legal and regulatory means of blocking or delaying Paribas's bid. For the moment, the sources said, he has decided against seeking a white knight or organizing a counterbid for Paribas.
Mr. Fournier said Navigation Mixte's 1989 unconsolidated, or parent-company, profit is likely to be 4.7 billion francs ($754.4 million), up from 633.8 million francs last year. That is due mostly to payments from Allianz for most of the 50% stake it has agreed to acquire in Navigation Mixte's insurance business. Mr. Fournier said the exceptional gain would mean nearly twice as high a dividend this year as last. If holders avoid tendering to Paribas, he added, they can expect strong dividends again next year.
Analysts noted that over the past 20 years, Mr. Fournier has built his company through astute stock-market activity and has warded off at least three takeover attempts. This time, however, some analysts think he could face a real battle.
"Without some unexpected "coup de theatre", I don't see what will block the Paribas bid," said Philippe de Cholet, analyst at the brokerage Cholet-Dupont amp Cie. Mr. de Cholet said Mr. Fournier's biggest hope was to somehow persuade regulatory authorities to block the bid. Paribas still needs the go-ahead from the Commission des Operations de Bourse, a government regulatory agency, but analysts said that is considered likely.
Mr. Fournier also noted that Navigation Mixte joined Paribas's core of shareholders when Paribas was denationalized in 1987, and said it now holds just under 5% of Paribas's shares. Once he realized that Paribas's intentions weren't friendly, he said, but before the bid was launched, he sought approval to boost his Paribas stake above 10%. The petition is still pending, but Mr. Fournier downplayed the likelihood of his organizing a takeover bid of his own for the much-larger Paribas.
One big question now is the likely role of Mr. Fournier's allies. Mr. Fournier said the large institutions that hold nearly 50% of Navigation Mixte's capital all strongly support him, but some analysts said they aren't so sure. Allianz, for example, has said in official comments so far that it will remain neutral. Paribas is Allianz's lead French bank.
Paribas said Monday that it intends to bid to boost its stake in Navigation Mixte to 66.7%, from the 18.7% it already owns. The purchase of the additional 48% stake is expected to cost more than 11 billion francs ($1.77 billion).
Paribas says it will offer 1,850 francs ($296.95) each for Navigation Mixte shares that enjoy full dividend rights, and 1,800 francs each for a block of shares issued July 1, which will receive only partial dividends this year. Alternatively, it is to offer three Paribas shares for one Navigation Mixte share. The Paribas offer values Navigation Mixte at about 23 billion francs, depending on how many of Navigation Mixte's warrants are converted into shares during the takeover battle. | [
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APW19980322.0749 | Document creation time: 03/22/1998 14:57:00
BELFAST, Northern Ireland (AP)_ Police seized a car bomb under construction Sunday in a town bordering Northern Ireland on the eve of the return to peace talks by the IRA-allied Sinn Fein party. Chief Superintendent Al McHugh said the bomb discovered in the Irish Republic was destined for an unknown target in Northern Ireland and ``would have caused massive destruction.'' The discovery appeared to be the latest attempt by extremists opposed to the IRA's 8-month-old truce to undermine the peace process, set to resume Monday in Belfast. Extremists have bombed two predominantly pro-British Protestant towns and fired mortar shells at a police station since Sinn Fein was expelled from peace talks on Feb. 20 in punishment for two killings blamed on the Irish Republican Army. Police found more than 1,300 pounds (600 kgs) of fertilizer-based explosives Sunday in a shed in Dundalk, 50 miles (80 kms) south of Belfast. They arrested two men in connection with the bomb factory, which also contained circuitry, detonating cord and the Mitsubishi truck that would have carried the bomb. The British and Irish governments, which cosponsor the multi-party talks that are supposed to conclude by May, invited Sinn Fein to rejoin two weeks ago. But Sinn Fein leader Gerry Adams kept his party out pending meetings with British Prime Minister Tony Blair 10 days ago and President Clinton last week. ``We were unjustly pushed out of the talks in February but we are back,'' Adams said Sunday. He said the north's substantial Catholic minority demanded a settlement that would promote Northern Ireland's eventual unification with the Irish Republic. ``Nationalists in the north are not a minority in someone else's country. We are Irish citizens, living in our own country,'' Adams said, adding: ``Nationalists want to move towards Irish unity and see this process as a bridge in that direction.'' But the north's pro-British Protestant majority is bitterly opposed to uniting Ireland and instead wants a strong government for Northern Ireland, which has been ruled directly by London since 1972. Northern Ireland's biggest Protestant party, the Ulster Unionists, is threatening to push for Sinn Fein's expulsion once again. They say IRA commanders are responsible for the recent bomb attacks. Also Sunday, more than 2,000 Catholic protesters rallied in Portadown against the annual parades by the Orange Order, Northern Ireland's dominant Protestant fraternal group. Confrontations among Catholic protesters, Protestant marchers and the police have provoked widespread violence in Northern Ireland for the past three summers. The crucible is Portadown, 30 miles (50 kms) southwest of Belfast, where Orangemen march each July from their rural church back downtown _ through the town's main Catholic area. Protesters from several Catholic communities crowded into Portadown's Catholic Garvaghy Road to hear speakers demand negotiations with Orange Order leaders, and pledge to participate in each others' road-blocking protests this summer. ``Small nationalist communities are not going to be left on their own this summer,'' said Gerard Rice, a former IRA prisoner who leads anti-Orange protests in a Catholic neighborhood of south Belfast. Riot police in armored cars, shields and helmets prevented a few hundred Protestants, many waving British and Ulster flags, from interfering with the Catholics as they marched within Portadown's few Catholic streets. Earlier Sunday, police and militant Protestants clashed in a religiously polarized part of north Belfast. Police said an unmarked police car was hit with gasoline bombs from the Protestant side. Riot police responded with a volley of plastic bullets that scattered a 50-strong mob. An elderly Catholic man was hospitalized from cuts after a Protestant gasoline bomb landed in his back yard. Police arrested six Protestants on suspicion of rioting. (sp/eml) | [
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APW20000328.0257 | Document creation time: 2000-03-28
HAVANA (AP) --
President Fidel Castro said Tuesday his government told U.S. officials it is worried that Miami-based exiles might take Elian Gonzalez to another country or even harm him if they lose their battle to block the boy's return to Cuba.
Reading from Cuban intelligence documents on state television, Castro said a group of Cuban-Americans in Miami was studying the possibility of taking Elian and his Miami relatives to a third nation, probably Nicaragua or Costa Rica.
Castro said his government had shared its concerns with the U.S. State Department about the possibility of such a move ''which could cause damage not only to a child, but to the reputation of the United States.''
A State Department duty officer said she had no information on a threat to Elian and was unaware of Castro's remarks.
In Miami, the boy's great-uncle, Lazaro Gonzalez, denied that he would send Elian out of the country, or that he himself would leave. ''It never even entered my mind,'' he said. ''This is my home.''
The Cuban leader first raised those worries during another live television appearance Sunday night during a speech to about 700 Cuban university students.
But it was not until Tuesday that Castro revealed that those concerns had been shared directly with the U.S. government. | [
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wsj_1014 | Document creation time: 10/26/89
Anheuser-Busch Cos. said it plans to aggressively discount its major beer brands, setting the stage for a potentially bruising price war as the maturing industry's growth continues to slow.
Anheuser, the world's largest brewer and U.S. market leader, has historically been reluctant to engage in price-cutting as a means of boosting sales volume. With the passing of the heady days of swelling industry sales, however, the once-sporadic and brief forays into discounting are becoming standard competitive weapons in the beer industry.
Over the summer, Anheuser competitors offered more and deeper discounts than industry observers have seen for a long time. Some experts now predict Anheuser's entry into the fray means near-term earnings trouble for all the industry players.
The St. Louis company said major rivals, Philip Morris Co.'s Miller Brewing unit and Adolph Coors Co. "have been following a policy of continuous and deep discounting for at least the past 18 months" on their premium brands, pricing their product as much as 25 cents a 12-pack below Anheuser's Budweiser label in many markets. Anheuser said it's discounting policy basically would involve matching such moves by rivals on a market-by-market basis.
Anheuser-Busch announced its plan at the same time it reported third-quarter net income rose a lower-than-anticipated 5.2% to $238.3 million, or 83 cents a share, from $226.5 million, or 78 cents. Third-period sales were $2.49 billion, up from last year's $2.34 billion.
Anheuser said its new strategy -- started in some markets last month and expected to be applied soon in selected markets nationwide -- will mean lower-than-anticipated earnings for the last half of 1989 and for 1990. The projection sent Anheuser shares plunging $4.375 in New York Stock Exchange composite trading yesterday. The stock closed at $38.50 on heavy volume of about 3.5 million shares. Shares of Coors, the company's sole publicly traded major competitor, fell $1.50 apiece to $19.125 in national over-the-counter trading, apparently on investor concerns over potential fallout from the coming pricing struggle.
Anheuser noted that "beer industry sales volume is 1989 is following the trend that has characterized the last half of the '80s, with sales volume being essentially flat" while consolidation creates fewer, bigger players.
"We cannot permit a further slowing in our volume trend," Anheuser said, adding it will take "appropriate competitive pricing actions to support our long-term market share growth strategy" for the premium brands. Anheuser said it continues to hold to its earlier-announced goal of a 50% U.S. market share by the mid-1990s.
Beneath the tepid news-release jargon lies a powerful threat from the brewing giant, which last year accounted for about 41% of all U.S. beer sales and is expected to see that grow to 42.5% in the current year. "Anheuser is the biggest guy in the bar, and he just decided to join in the barroom brawl," said Joseph J. Doyle, an analyst with Smith Barney, Harris Upham amp Co. "It's going to get bloody."
Jerry Steinman, publisher of Beer Marketers Insights, a trade newsletter, said Anheuser's announcement means "everybody else in the industry is going to have a difficult time reaching their profit objectives."
Prudential-Bache Securities Inc. analyst George E. Thompson downplayed the importance of the announcement, and called any comparison between the coming beer-industry tiff and the seemingly unending "cola wars," unwarranted. Mr. Thompson calls discounting "a loser's game for anyone without a dominant market share," and projected that Anheuser's statement of intent could simply be a means of warning competitors to ease up on price-cutting or face a costly and fruitless battle.
Mr. Thompson noted that the disappointing earnings, which fell five cents a share short of his own projections, contributed to the sell-off by an edgy and currently unforgiving investing public.
But Smith Barney's Mr. Doyle, who yesterday trimmed his 1990 Anheuser earnings projection to $2.95 a share from $3.10, called the market's reaction "justified." While the third-quarter earnings were a "moderate disappointment," he said, "the real bad news is the intensity of price competition" in the premium-beer sector.
According to Mr. Steinman, the newsletter publisher, Anheuser's market share is nearly twice that of its nearest competitor, Miller Brewing, which had a 21.2% stake last year. It's followed by Stroh Brewery Co., which has agreed to sell its assets to Coors. Both Coors and Stroh have recently been ceding market share to Miller and Anheuser. | [
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NYT20000330.0406 | Document creation time: 2000-03-30
MIAMI _
Even miles away from sign-waving demonstrators who keep vigil outside the tiny house in Little Havana where Elian Gonzalez lives with his great-uncle, talk about the standoff between Elian's Miami relatives and Immigration and Naturalization Service officials pours hot and quick from coffee stands on Calle Ocho and any other place Cuban Americans gather.
In rapid-fire Spanish, so fast that even people who learned the language in other Hispanic cultures can have trouble keeping up, they villify Attorney General Janet Reno, President Clinton and others who want to send the child back to his father in Cuba. And they question _ or ridicule _ news that the boy's father is planning to come here to retrieve his son.
It is a Communist plot hatched by the hated dictator, Fidel Castro, they say. If you are not Cuban, they said, you just would not understand.
``If it weren't Cuba, the child should go to be with his father,'' said Delfina Miranda, 49, who works at a beauty salon in Little Havana. ``But it is Cuba. That kid will get nothing in Cuba. Well, maybe electro-shock treatment, so they can brain-wash him.''
Over and over, Cuban Americans said that outsiders who did not suffer under the Castro regime simply could not understand their passions in the Elian standoff.
As talk on the streets swirled, talks between lawyers for Elian's Miami relatives and government officials crept to an uneventful close.
U.S. Immigration officials postponed until Tuesday morning any action on revoking the boy's temporary permission to stay in the United States, which would allow federal officials to, ultimately, take the boy from his relatives' house and eventually return him to Cuba. ``Like the family, we are monitoring developments concerning the possible arrival of (Elian's father) Juan Miguel Gonzalez in the United States,'' said Robert Wallis, INS director for the Miami district.
Government officials had threatened to revoke the boy's parole if his great-uncle, Lazaro Gonzalez, did not sign a document agreeing to hand Elian over to federal officials once the family's appeal in the 11th U.S. Circuit Court of Appeals was decided.
But that standoff became less important in the eyes of Cuban Americans here after Castro announced Wednesday that the boy's father, Juan Miguel Gonzalez, is ready to travel to the United States to take his son home.
Gonzalez's lawyer, Greg Craig, asked for a visa Thursday for his client for the expected visit, but was told by U.S. State Department officials that Gonzalez himself had to apply for the visa at the U.S. diplomatic mission in Havana.
``Juan Miguel Gonzalez is ready at a moment's notice to come to the United States,'' said Craig.
But in Miami, many Cuban Americans said Castro is orchestrating the visit.
Castro said Gonzalez would travel with his current wife and their son, a top government official, doctors, nurses, psychiatrists, Elian's Cuban kindergarten teacher, classmates and his old school desk.A list of 31 people issued by the Cuban government Thursday included Ricardo Alarcon, president of Cuba's National Assembly. Castro has suggested that Elian and his relatives stay at the residence of Cuba's chief diplomat in Washington.
Hidden in the entourage, cautioned Cuban Americans here, will be Cuban security agents who will make sure that Gonzalez _ and everyone else, for that matter _ does not defect.
``They are coming with everyone, including psychologists,'' said Armando Sanjurjo, 73. ``You know why? To give Elian an injection and take him back to Cuba.''
Sanjurjo, sipping a cafecito in front of Versailles restaurant, the nerve center for Cuban political discussions here in Little Havana, is convinced, like many others here, the entourage is designed to prevent any defections.
``He's coming with an entire court of people? What's that about?'' said Angela Esparragera, 71.
Miranda said Elian's father will be ``a virtual prisoner here if he comes with all those people. He'll be surrounded by people if he goes to the bathroom.''
Gloria Estefan, the wildly popular singer of Cuban descent who has become an entertainment and cultural icon, was also suspicious of this visit.
``If in fact, Elian's father is permitted by the dictatorship of Fidel Castro to come to the United States, then, as a Cuban American, I welcome him and urge him to make all his decisions based on the well being and best interest of his son, and not that of the Cuban government,'' Estefan said.
All week, elected officials in Washington, D.C., and at the state capital in Tallahassee have issued statement of support for Elian's Miami relatives, even Vice President Al Gore, breaking from his own administration's stand. In Miami-Dade County, elected officials went as far as to say they their police departments would have no role in taking the boy from the house.
Among non-Cuban Americans, there was a drastic shift in their feelings on the case.
``Send him back,'' said Marsha Raeber, 47, an airline employee. ``There are rules and regulations in this country. Some people are born rich, some people are born poor. That's the luck of the draw. Who's to say that he's better off at Disney World and eating fast food here instead if breathing the fresh air of Cuba.''
Eric Pichardo, 44, is from Nicaragua, and said the Cuban-Americans ``need to follow the law. What about all the other poor kids in South and Central America?''
Not all Cuban-Americans insist that Elian be allowed to stay. Diana de Cardenas, 33, was born in Cuba in 1984. ``I think he deserves to be with his father,'' she said. ``It would be ideal if his father came,'' and then stayed, in Miami. | [
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wsj_0610 | Document creation time: 10/30/89
This hasn't been Kellogg Co.'s year. The oat-bran craze has cost the world's largest cereal maker market share. The company's president quit suddenly. And now Kellogg is indefinitely suspending work on what was to be a $1 billion cereal plant.
The company said it was delaying construction because of current market conditions. But the Memphis, Tenn., facility wasn't to begin turning out product until 1993, so the decision may reveal a more pessimistic long-term outlook as well.
Kellogg, which hasn't been as successful in capitalizing on the public's health-oriented desire for oat bran as rival General Mills Inc., has been losing share in the $6 billion ready-to-eat cereal market. Kellogg's current share is believed to be slightly under 40% while General Mills' share is about 27%.
Led by its oat-based Cheerios line, General Mills has gained an estimated 2% share so far this year, mostly at the expense of Kellogg. Each share point is worth about $60 million in sales.
Analysts say much of Kellogg's erosion has been in such core brands as Corn Flakes, Rice Krispies and Frosted Flakes, which represent nearly one-third of its sales volume. Kellogg is so anxious to turn around Corn Flakes sales that it soon will begin selling boxes for as little as 99 cents, trade sources say.
"Cheerios and Honey Nut Cheerios have eaten away sales normally going to Kellogg's corn-based lines simply because they are made of oats," says Merrill Lynch food analyst William Maguire. "They are not a happy group of people at Battle Creek right now." Kellogg is based in Battle Creek, Mich., a city that calls itself the breakfast capital of the world.
Another analyst, John C. Maxwell Jr. of Wheat, First Securities in Richmond, Va., recently went to a "sell" recommendation on Kellogg stock, which closed Friday at $71.75, down 75 cents, in New York Stock Exchange composite trading. "I don't think Kellogg can get back to 40% this year," he said. "Kellogg's main problem is life style. People are reading the boxes and deciding they want something that's `healthy' for you -- oats, bran." Mr. Maxwell said he wouldn't be surprised if, over the next two years or so, General Mills' share increased to 30% or more.
In announcing the plant delay, Kellogg Chairman William E. LaMothe said, "Cereal volume growth in the U.S. has not met our expectations for 1989". He said construction wouldn't resume until market conditions warrant it.
Kellogg indicated that it has room to grow without adding facilities. The company has five other U.S. plants, including a modern facility at its Battle Creek headquarters known as Building 100, which is to add bran-processing and rice-processing capacity next year.
General Mills, meanwhile, finds itself constrained from boosting sales further because its plants are operating at capacity. A large plant in Covington, Ga., is to come on line next year.
A Kellogg officer, who asked not to be named, said the Memphis project was " pulled in for a reconsideration of costs," an indication that the ambitious plans might be scaled back in any future construction. Initial cost estimates for the plant, which was to have been built in phases, ranged from $1 billion to $1.2 billion.
A company spokesman said it was "possible, but highly unlikely," that the plant might never be built. "As we regain our leadership level where we have been, and as we continue to put new products into the marketplace and need additional capacity, we will look at resuming our involvement with our plan," he said.
The new facility was to have been the world's most advanced cereal manufacturing plant, and Kellogg's largest construction project. The company had retained the Fluor Daniel unit of Fluor Corp. as general contractor.
But in recent weeks, construction-industry sources reported that early preparation work was slowing at the 185-acre site. Subcontractors said they were told that equipment orders would be delayed. Fluor Daniel already has reassigned most of its work crew, the sources said.
Last Friday's announcement was the first official word that the project was in trouble and that the company's plans for a surge in market share may have been overly optimistic. Until recently, Kellogg had been telling its sales force and Wall Street that by 1992 it intended to achieve a 50% share of market, measured in dollar volume.
Although he called current market conditions "highly competitive," Mr. LaMothe, Kellogg's chairman and chief executive officer, forecast an earnings increase for the full year. Last year, the company earned $480.4 million, or $3.90 a share, on sales of $4.3 billion.
As expected, Kellogg reported lower third-quarter earnings. Net fell 16% to $123.1 million, or $1.02 a share, from $145.7 million, or $1.18 a share. Sales rose 4.8% to $1.20 billion from $1.14 billion.
The company had a one-time charge of $14.8 million in the latest quarter covering the disposition of certain assets. The company wouldn't elaborate, citing competitive reasons. | [
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wsj_0805 | Document creation time: 10/27/89
CMS ENERGY Corp. said management would recommend to its board today that its common stock dividend be reinstated at a "modest level" later this year. The Dearborn, Mich., energy company stopped paying a dividend in the third quarter of 1984 because of troubles at its Midland nuclear plant. In addition, CMS reported third-quarter net of $68.2 million, or 83 cents a share, up from $66.8 million, or 81 cents a share, a year ago. | [
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wsj_0551 | Document creation time: 10/30/89
Trustcorp Inc. will become Society Bank amp Trust when its merger is completed with Society Corp. of Cleveland, the bank said.
Society Corp., which is also a bank, agreed in June to buy Trustcorp for 12.4 million shares of stock with a market value of about $450 million. The transaction is expected to close around year end. | [
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wsj_0169 | Document creation time: 11/02/89
Ratners Group PLC, a fast-growing, acquisition-minded London-based jeweler, raised its price for Seattle-based specialty jeweler Weisfield's Inc. to $57.50 a share, or $62.1 million, from $50 a share, or $55 million, after another concern said it would be prepared to outbid Ratners's initial offer. The other concern wasn't identified.
Ratners's chairman, Gerald Ratner, said the deal remains of "substantial benefit to Ratners." In London at mid-afternoon yesterday, Ratners's shares were up 2 pence (1.26 cents), at 260 pence ($1.64).
The sweetened offer has acceptances from more than 50% of Weisfield's shareholders, and it is scheduled for completion by Dec. 10.
The acquisition of 87-store Weisfield's raises Ratners's U.S. presence to 450 stores. About 30% of Ratners's profit already is derived from the U.S. | [
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wsj_0266 | Document creation time: 11/01/89
I was pleased to note that your Oct. 23 Centennial Journal item recognized the money-fund concept as one of the significant events of the past century. Actually, about two years ago, the Journal listed the creation of the money fund as one of the 10 most significant events in the world of finance in the 20th century. But the Reserve Fund, America's first money fund, was not named, nor were the creators of the money-fund concept, Harry Brown and myself. We innovated telephone redemptions, daily dividends, total elimination of share certificates and the constant $1 pershare pricing, all of which were painfully thought out and not the result of some inadvertence on the part of the SEC.
BRUCE R. BENT President The Reserve Fund New York | [
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XIE19980808.0031 | Document creation time: 1998-08-08
JOHANNESBURG, August 7 (Xinhua) --
South Africa deplored Friday the bomb blasts which killed scores of people and injured more than 1,000 others outside embassies of the United States in Kenya and Tanzania earlier in the day.
A statement by the Foreign Affairs Department described the attacks as senseless.
"The South African government deplores these senseless acts against the American embassies in Nairobi and Dar es Salaam and would like to express its condolences to the victims of the explosions," the statement said.
Reports reaching here said a massive blast damaged the U.S. embassy in Nairobi, killing 40 people while wounding at least 1,000 people.
Kenyan Trade Minister Joseph Kamotho and American ambassador to Kenya Prudence Bushnell were injured in the blast.
Also on Friday morning, at least four people were killed in an explosion that took place near the American embassy in Dar es Salaam, the capital of Tanzania.
It was not immediately known who were responsible for the explosions.
As far as could be established, no South Africans had been affected by the blasts, the South African Foreign Affairs Department said. | [
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VOA19980305.1800.2603 | Document creation time: 19980305
International Women's Day is this coming Sunday, March eighth. A major focus of International Women's Day is the plight of Afghan women. Special events are being organized by the European Commission and individual nations in Europe, North America, and other parts of the world. Lisa Schlein reports from Geneva.
Afghanistan has been at war for twenty years, leaving a large part of the country's male population dead or in exile. The United Nations says women and children make up about seventy-five percent of the Afghan population. An Afghan refugee in Switzerland, Homira Atimadi, is a senior official of a group called the International Working Group on Afghan Women. The group has branches in Pakistan, Iran, Europe, Australia, and North America. Ms. Atimadi says Afghan women have been victims of severe violations of human rights for the past twenty years and she says she sees no end to the misery. She says security under the fundamentalist Taleban government is better, but everything else is worse.
Women do not become victims of armed attack, but they do not have the right to work. And today, the right to work is equal to r- the right to survival.
Ms. Atimadi says the war has created a nation of widows. Women have become the sole support of their families. Yet, the Taliban have forbidden them to work. She says this puts the very existence of women's families at risk. She says the plight of women in urban areas is greater than that which exists in rural parts of the country. In cities, such as the capital Kabul, women are totally dependent on international aid for survival. Ms. Atimadi says the women of Kabul symbolize the suffering of all the women in Afghanistan.
The aim is to bring in not only the focus on women's right to education, access to work, but look beyond that and look at the roots of, uh of these problems. These are only the symptoms of the problems that are facing Afghanistan. For women in Afghanistan to be able to realize their rights, there have to be conditions of peace and justice.
Ms. Atimadi says that is the primary focus of her group, peace and justice. She says her group is appealing to individuals, to the international community, and to the combatants and people of Afghanistan to stop the bloodletting which has torn the country apart. Lisa Schlein for VOA News, Geneva. | [
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wsj_0332 | Document creation time: 11/01/89
Orkem S.A., a French state-controlled chemical manufacturer, is making a friendly bid of 470 pence ($7.43) a share for the 59.2% of U.K. specialty chemical group Coates Brothers PLC which it doesn't already own, the two sides said.
The offer, which values the whole of Coates at #301 million, has already been accepted by Coates executives and other shareholders owning 12.4% of the company. The acceptances give Orkem a controlling 53.2% stake in the company.
Orkem and Coates said last Wednesday that the two were considering a merger, through Orkem's British subsidiary, Orkem Coatings U.K. Ltd.
Orkem, France's third-largest chemical group, said it would fund the acquisition through internal resources. The takeover would be followed by a restructuring of Orkem's U.K. unit, including the addition of related Orkem businesses and possibly further acquisitions. Orkem said it eventually would seek to make a public share offering in its U.K. business. | [
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APW19980213.1320 | Document creation time: 02/13/1998 14:35:00
CANBERRA, Australia (AP)_ Qantas will almost double its flights between Australia and India by August in the search for new markets untouched by the crippling Asian financial crisis. This move comes barely a month after Qantas suspended a number of services between Australia, Indonesia, Thailand and Malaysia in the wake of the Asian economic crisis. The airline has also cut all flights to South Korea. Qantas plans daily flights between Sydney and Bombay, up from the current four flights a week, to boost business and tourism ties with India, the airline announced Friday. In a joint statement with Tourism Minister Andrew Thomson, it said two new flights would leave Bombay on Monday and Tuesday nights from March 30, with the third departing each Thursday from August 6. This will add nearly 700 seats a week on the route. Thomson, in India to talk to tourism leaders, said the flights would provide extra support to the growing tourism market. Qantas' India manager Khursheed Lam said the airline was working closely with the Australian Tourist Commission to develop greater awareness of Australia in the Indian market. Qantas will also appoint a Bombay-based public relations consultant. | [
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XIE19980808.0188 | Document creation time: August 7
HAVANA, August 7 (Xinhua) --
The Cuban government Friday condemned the two bomb explosions near U.S. embassies in Kenya and Tanzania.
The Foreign Ministry said in a statement that the Cuban government is against such kind of terrorist attacks, which pose potential threats to every country.
The Cuban government also expressed its condolences to the families of the victims.
Two bombs exploded outside U.S. embassies in Kenya and Tanzania Friday, killing at least 81 people and injuring more than 1,700 others.
At least 74, including eight Americans, were killed in Nairobi, the capital of Kenya, and more then 1,640 were wounded. At least seven were reported dead in the Tanzanian capital of Dar es Salaam, and 72 others were hurt. | [
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wsj_0160 | Document creation time: 11/02/89
Savin Corp. reported a third-quarter net loss of $35.2 million, or 31 cents a share, compared with year-earlier profit of $3.8 million, or one cent a share.
A spokesman for the Stamford, Conn.based company said operations had a loss of $5.5 million for the quarter; in addition, the loss was magnified by nonrecurring charges totaling $23.5 million and $8.2 million in asset-valuation adjustments that he described as "unusual." The charges were partly offset by a $2 million gain on the sale of investments of two joint ventures, he said.
Revenue declined 8% to $85.7 million, from $93.3 million a year earlier. Savin cited "a general softening in the demand for office products in the market segments in which Savin competes." | [
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wsj_0612 | Document creation time: 10/30/89
The following were among Friday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report: @ CORPORATES Sun Microsystems Inc. -- $125 million of 6 3/8% convertible subordinated debentures due Oct. 15, 1999, priced at 84.90 to yield 7.51%. The debentures are convertible into common stock at $25 a share, representing a 24% conversion premium over Thursday's closing price. Rated single-B-1 by Moody's Investors Service Inc. and single-B-plus by Standard amp Poor's Corp., the issue will be sold through underwriters led by Goldman, Sachs amp Co. Hertz Corp. -- $100 million of senior notes due Nov. 1, 2009, priced at par to yield 9%. The issue, which is puttable back to the company in 1999, was priced at a spread of 110 basis points above the Treasury's 10-year note. Rated single-A-3 by Moody's and triple-B by SampP, the issue will be sold through underwriters led by Merrill Lynch Capital Markets. @ EUROBONDS Canadian Imperial Bank of Commerce (Canada) -- 10 billion yen of 5.7% bonds due Nov. 17, 1992, priced at 101 1/4 to yield 5.75% less full fees, via LTCB International Ltd. | [
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wsj_0927 | Document creation time: 10/26/89
H. Marshall Schwarz was named chairman and chief executive officer of U.S. Trust Corp., a private-banking firm with assets under management of about $17 billion.
Mr. Schwarz, 52 years old, will succeed Daniel P. Davison Feb. 1, soon after Mr. Davison reaches the company's mandatory retirement age of 65. Mr. Schwarz, who is president of U.S. Trust, will be succeeded in that post by Jeffrey S. Maurer, 42, who is executive vice president in charge of the company's asset-management group.
U.S. Trust, a 136-year-old institution that is one of the earliest high-net worth banks in the U.S., has faced intensifying competition from other firms that have established, and heavily promoted, private-banking businesses of their own. As a result, U.S. Trust's earnings have been hurt.
But Mr. Schwarz welcomes the competition in U.S. Trust's flagship businesses, calling it "flattery." Mr. Schwarz says the competition "broadens the base of opportunity for us." Other firms "are dealing with the masses. I don't believe they have the culture" to adequately service high-net-worth individuals, he adds. U.S. Trust recently introduced certain mutual-fund products, which allow it to serve customers with minimum deposits of $250,000. Previously, the company advertised at the $2 million level.
"We have always taken smaller accounts, but now we are looking for smaller accounts that will grow," Mr. Schwarz says. "Our bread and butter is still the $2 million to $20 million account," he says. The new services allow U.S. Trust to cater to the "new wealth," Mr. Schwarz says.
Quarterly net income this year has risen just over comparable periods in 1988, when year-end net was below the 1987 level. In this year's third quarter, for example, net was $10.5 million, or $1.05 a share, compared with $10.3 million, or $1.02 a share, a year earlier. Assets as of Sept. 30 fell to $2.46 billion from about $2.77 billion. "We will have a reasonably flat year this year," Mr. Schwarz says. Mr. Schwarz also said costs associated with U.S. Trust's planned move to midtown Manhattan from Wall Street will continue to be a drag on earnings through 1990.
Mr. Schwarz's great-grandfather founded the New York toy store F.A.O. Schwarz, but his family no longer has ties to the company. Mr. Schwarz's father was a U.S. Trust trustee until 1974.
U.S. Trust also created a four-member office of the chairman, effective Feb. 1. It will include Messrs. Schwarz and Maurer. Donald M. Roberts, 54, treasurer, and Frederick S. Wonham, 58, who takes responsibility for the funds-service group, were named vice chairmen and will serve in the office of the chairman. Mr. Roberts continues as treasurer, and Mr. Wonham remains responsible for the offices of comptroller, planning, marketing and general services.
Frederick B. Taylor, 48, also was named a vice chairman and chief investment officer, a new post. He previously held similar responsibilities. Mr. Taylor also was named a director, increasing the board to 22, but is not part of the new office of the chairman.
James E. Bacon, 58, executive vice president, who has directed the funds-service group, will retire. | [
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NYT19990312.0271 | Document creation time: 1999-03-12 18:41
INDEPENDENCE, Mo. _ The North Atlantic Treaty Organization embraced three of its former rivals, the Czech Republic, Hungary and Poland on Friday, formally ending the Soviet domination of those nations that began after World War II and opening a new path for the military alliance.
In a ceremony tinged with the personal and the emotional at the Truman Presidential Library here, Secretary of State Madeleine Albright watched the foreign ministers of the three countries sign the documents of accession to the alliance, signed them herself and then held them aloft like a victory trophy.
Albright, who was born in Prague and fled just after the Communist takeover in 1948, made no secret of her joy at her homeland and its neighbors joining the alliance after a six year trans-Atlantic diplomatic process led by the Clinton administration.
``To quote an old Central European expression, `Hallelujah,''' she said.
In Poland, Hungary and the Czech Republic, the moment was marked by small-scale public celebrations. In Warsaw, Poland, after dark, as fireworks lit the sky, the Polish flag and the flag of NATO were raised side by side near the Tomb of the Unknown Soldier in Pilsudski Square
In Hungary, NATO members' flags were raised outside the Defense Ministry. And in Prague, Czech Republic, President Vaclav Havel said in a statement, ``Never have we been part of such a broad, solid and binding security alliance which at the same time respects in its essence the sovereignty and will of our nation.''
The enlargement of NATO from 16 members to 19 has been one of the administration's foremost foreign policy goals, one that grew out of a desire, its proponents said, to cement the democratic gains made in the former Warsaw Pact countries after the collapse of communism 10 years ago.
But the policy also faced critics, who argued that welcoming these three new countries would draw a new line across Europe and antagonize the Russians. As of Friday, the border between Western Europe and the former Soviet Union moved to the eastern border of Poland.
In her speech, in the small auditorium where dignitaries from the three countries sat and the three foreign ministers flanked her on the stage, Albright countered that NATO would now do ``for Europe's East what NATO has already helped to do for Europe's West. Steadily and systematically, we will continue erasing _ without replacing _ the line drawn in Europe by Stalin's bloody boot.''
Albright also used her speech to articulate a forward-looking vision for NATO, which will celebrate its 50th anniversary in Washington next month, and to defend NATO's potential involvement in Kosovo.
In the aftermath of the Cold War, she said, NATO must be ready to face ``an aggressive regime, a rampaging faction, or a terrorist group. And we know that if, past is prologue, we face a future in which weapons will be more destructive at longer distances than ever before.''
The NATO summit, she said, would produce an initiative that ``responds to the grave threat posed by weapons of mass destruction and their means of delivery.''
In Kosovo, where the Yugoslav leader, Slobodan Milosevic, is resisting the deployment of NATO-led troops, including 4,000 U.S. soldiers, Albright insisted that NATO was the best tool to enforce a peace settlement.
``We must be clear in explaining that a settlement without NATO-led enforcement is not acceptable because only NATO has the credibility and capability to make it work,'' she said. ``And we must be resolute in spelling out the consequences of intransigence,'' she added, referring to the threat of NATO air strikes against Milosevic if he does not agree to the deployment.
But in many ways, the day belonged to the Czech Republic, Hungary and Poland, who in order to meet NATO's standards have had to cut the size of their Soviet-style militaries, organize civilian control of their armies and agree to buy NATO compatible equipment in the coming years.
It was the spiritual homecoming to the West that all three foreign ministers stressed.
``Poland forever returns where she has always belonged _ the free world,'' said Bronislaw Geremek, the foreign minister of Poland, who was a dissident during the Communist era.
Geremek said he had brought some appropriate mementoes from Poland to the Truman library, including a campaign poster from 1989 when the anti-communist Solidarity forces won against the Communists. The poster showed a picture of Gary Cooper from the film ``High Noon.''
``It helped us to win,'' Geremek said. ``For the people of Poland, high noon comes today.''
The Czech foreign minister, Jan Kavan, who lived in London from 1968, when the Soviets invaded Czechoslovakia, until 1989, said he had remained buoyant during his opposition work as an emigre by believing that communism would eventually fall. But he never dreamed, he said, that his country would become a member of NATO.
``Accession to NATO is a guarantee that we will never again become powerless victims of any foreign aggression,'' Kavan said.
Similarly, the Hungarian foreign minister, Janos Martonyi, who remembers the 1956 uprising as a 13-year-old, said that membership of NATO meant that Hungary was returning ``to her natural habitat.''
``It has been our manifest destiny to rejoin those with whom we share the same values, interests and goals,'' he said.
But Martonyi also emphasized that Hungary understood NATO membership carried with it obligations as well as privileges. ``We shall prove that new members can indeed add to the weight of the alliance,'' he said.
The location for Friday's ceremony was chosen by Albright, who as secretary of state is the depository of NATO's accession accords.
The secretary made the fairly unorthodox decision to choose a site outside Washington because she wanted the ceremony to resonate with the memories of President Truman, under whom NATO was founded. On April 4, 1949, on behalf of the United States, Truman's secretary of state, Dean Acheson, signed the Washington Treaty, which created NATO. Acheson is Albright's favorite predecessor, her aides said.
Formed in reaction to the threat of the Soviet Union under Stalin, NATO calls for the collective defense of its members and was brought into being with an original 12 members.
The alliance has expanded three times before, adding Greece and Turkey in 1952, West Germany in 1955 and Spain in 1982. But never before has NATO reached out to its former Eastern-bloc enemies.
The Clinton administration embarked on the expansion of NATO in 1993 after Clinton met in Washington with President Havel and Lech Walesa, who was then the president of Poland.
These conversations are remembered by Clinton's foreign policy team because they took place after the opening of the Holocaust Museum and because they involved two very different Central European leaders who brought the same message.
Their message was that NATO should be used as the mechanism to secure the democratic progress of their countries and at the same dissuade Russia from any more imperial designs.
The U.S. ambassador to Poland, Dan Fried, who was then on the National Security Council, said Friday that he remembered being asked to help ``turn this pious wish into a policy.''
In July 1997, at a summit in Madrid, Spain, the alliance announced it would accept Poland, Hungary and the Czech Republic. Romania and Slovenia, which had tried hard to meet the standards, were turned away, at least for the time being.
One problem was how to deal with the Russians, who vacillated between outright hostility and accepting what looked like the inevitable. In early 1997, President Boris Yeltsin told President Clinton he could live with NATO expansion. But in order to accommodate the Russians, NATO created the NATO-Russia Council as a consultative body that formalized relations between Moscow and the alliance.
Poland has been sensitive to the reactions of Russia to its membership of NATO, and Geremek has gone out of his way to reassure the Russians. ``We want our membership of NATO to serve as a `catalyst' for Polish Russian co-operation,'' he said last year.
Even so, on the secretary of state's plane carrying Albright and the three foreign ministers to the ceremony Friday, the ministers were asked whether they could ever foresee Russia as a member of NATO.
There was a long pause among the three ministers. Then Martonyi replied: ``Silence is your answer.'' | [
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wsj_0918 | Document creation time: 10/26/89
Du Pont Co. reported that third-quarter profit grew a robust 19% from a year ago on the strength of the company's operations in various chemicals and fibers, and in petroleum.
Du Pont also raised its quarterly dividend to $1.20 a share from $1.05, a change that will increase the annualized payout to shareholders by some $140 million.
Du Pont, unlike companies hurt badly by sharp price declines for basic chemicals and plastics, is benefiting from its broad range of businesses. The profit gain was made despite a weakening in the housing market, for which the company is a supplier, and a strengthening in the dollar, which lowers the value of overseas earnings when they are translated into dollars.
The Wilmington, Del., company reported net of $547 million, or $2.36 a share, which was in line with Wall Street estimates. In the year-earlier period, the company earned $461 million, or $1.91 a share. Sales in the latest quarter were $8.59 billion, up 9.4% from $7.85 billion.
The dividend increase was Du Pont's second this year, an affirmation of statements by top executives that they intend to increase rewards to shareholders. "We haven't benefited the shareholder as much as we need to," said Edgar Woolard Jr., Du Pont's chairman and chief executive officer, in an interview several months before he entered his current position in April.
The largest beneficiary will be Seagram Co., which owns about 23% of Du Pont. A spokesman for Seagram, the Montreal wine and spirits concern controlled by the Bronfman family, said the company will post additional pretax profit of about $33 million a year because of the additional Du Pont dividends.
Du Pont also announced plans for a 3-for-1 stock split, although the initial higher dividend will be paid on pre-split shares. Du Pont's stock rose $2.50 a share to close at $117.375 in New York Stock Exchange composite trading yesterday. Seagram closed at $84.75, up 12.5 cents a share in Big Board trading.
Leading the gains for Du Pont in the latest quarter was its industrial products segment, where profit soared to $155 million from $99 million a year earlier. The company benefited from continued strong demand and higher selling prices for titanium dioxide, a white pigment used in paints, paper and plastics.
James Fallon, a New Providence, N.J., marketing consultant to the chemicals industry, says Du Pont still holds an edge in making the pigment because the company was "first in with the technology" to lower costs. He said Du Pont holds about 23% of the world-wide market, the largest single share, at a time when growing uses for the pigment have kept it in tight supply, although others are now adding low-cost production capacity.
Profit climbed to $98 million from $71 million in the petroleum segment, as Du Pont's Conoco Inc. oil company was helped by crude oil prices higher than a year ago and by higher natural gas prices and volume.
In the diversifed businesses segment, which includes herbicides, profit grew to $64 million from $27 million. A spokesman said herbicide use in some areas of the U.S. was delayed earlier in the year by heavy rains, thus increasing sales in the third quarter.
In the fibers segment, profit rose to $180 million from $155 million, a gain Du Pont attributed to higher demand in the U.S. for most textile products.
Two segments posted lower earnings for the quarter. Profit from coal fell to $41 million from $58 million, partly because of a miners' strike. And profit from polymers dropped to $107 million from $122 million amid what Du Pont called lower demand and selling prices in certain packaging and industrial markets.
For the nine months, Du Pont earned $2 billion, or $8.46 a share, up 18% from $1.69 billion, or $7.03 a share, a year earlier. Sales increased 10% to $26.54 billion from $24.05 billion.
The increased dividend will be paid Dec. 14 to holders of record Nov. 15. The stock split, which is subject to holder approval, would be paid on a still unspecified date in January to holders of record Dec. 21. | [
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wsj_0168 | Document creation time: 11/02/89
Meridian National Corp. said it sold 750,000 shares of its common stock to the McAlpine family interests, for $1 million, or $1.35 a share. The sale represents 10.2% of Meridian's shares outstanding.
The McAlpine family, which operates a number of multinational companies, including a London-based engineering and construction company, also lent to Meridian National $500,000. That amount is convertible into shares of Meridian common stock at $2 a share during its one-year term. The loan may be extended by the McAlpine group for an additional year with an increase in the conversion price to $2.50 a share.
The sale of shares to the McAlpine family along with the recent sale of 750,000 shares of Meridian stock to Haden MacLellan Holding PLC of Surrey, England and a recent public offering have increased Meridian's net worth to $8.5 million, said William Feniger, chief executive officer of Toledo, Ohio-based Meridian. | [
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wsj_0533 | Document creation time: 10/30/89
Two rival bidders for Connaught BioSciences extended their offers to acquire the Toronto-based vaccine manufacturer Friday.
Institut Merieux S.A., which offered 942 million Canadian dollars (US$801.2 million), or C$37 a share for Connaught, said it would extend its bid, due to expire last Thursday, to Nov. 6.
A C$30-a-share bid by Ciba-Geigy Ltd., a pharmaceutical company based in Basel, Switzerland, and California-based Chiron Corp., a bioresearch concern, was extended to Nov. 16. It had been due to expire Friday evening.
Merieux previously said it would ensure its bid remained open pending a final decision by Canadian regulators on whether to approve the takeover. Merieux, a vaccine and bioresearch firm based in Lyon, France, is controlled 50.1% by state-owned Rhone Poulenc S.A.
The Canadian government previously said Merieux's bid didn't offer enough "net benefit" to Canada to be approved, and gave Merieux an until mid-November to submit additional information.
Merieux officials said last week that they are "highly confident" the offer will be approved once it submits details of its proposed investments to federal regulators.
Both offers are conditional on regulatory approvals and enough shares being tendered to give the bidders a majority of Connaught's shares outstanding.
Institut Merieux, which already holds a 12.5% stake in Connaught, said that at the close of business Thursday, 5,745,188 shares of Connaught and C$44.3 million face amount of debentures, convertible into 1,826,596 common shares, had been tendered to its offer. At the close of business Thursday, Ciba-Geigy and Chiron said 11,580 common shares had been tendered to their offer. At last report, Connaught had 21.8 million shares outstanding.
Separately, the Ontario Supreme Court said it will postpone indefinitely a ruling on the lawsuit launched by the University of Toronto against Connaught in connection with the Merieux bid.
In a statement prepared by lawyers for the university and Connaught, the parties said they agreed that as a result of reaching a C415 million research accord, "It is unnecessary that there be a judgment on the merits {of the case} at this time."
Lawyers for the two sides weren't immediately available for comment.
The university had sought an injunction blocking Connaught's board from recommending or supporting an offer for the company by Merieux. | [
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wsj_0685 | Document creation time: 10/30/89
CNW Corp. said the final step in the acquisition of the company has been completed with the merger of CNW with a subsidiary of Chicago amp North Western Holdings Corp.
As reported, CNW agreed to be acquired by a group of investors led by Blackstone Capital Partners Limited Partnership for $50 a share, or about $950 million. | [
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CNN19980126.1600.1104 | Document creation time: 19980126
Major job cuts at AT and T. The long distance giant slashing up to eighteen thousand jobs, freezing executive salaries and shaking up management. The changes are part of a one point six billion dollar cost cutting initiative to revitalize its position in the telecommunications business. Earlier AT and T also announced an eighteen percent drop in profits for the fourth quarter. The company's sales force applauded the shake up.
It's not something we're not used to in the industry. But I think right now, for AT and T and the people here, it's fairly intense as you might w- well imagine.
I mean look at the stock. You know, since he's been here the stock skyrocketed so, Yeah I think he's doing the right thing.
I think it's a good thing that they're finally going to be downsizing you know some management because there is a whole lot of waste.
Good news for AT and T today. I think it's excellent for the company.
But investors are approaching the changes with caution shares of AT and T down nearly four at sixty-one and a half. | [
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APW20000210.0328 | Document creation time: 2000-02-10
WASHINGTON (AP) --
The Justice Department is reviewing whether alcohol-related driving violations or other actions by Elian Gonzalez' relatives in Miami warrant moving the 6-year-old boy to a different, temporary custodian.
``That matter is under review,'' Deputy Attorney General Eric Holder said when asked Thursday about the violations. ``We will look at that, try to make some kind of factual determination and then decide what steps, if any, need to be taken.''
In addition, the department is still considering a request last week from Elian's father in Cuba, Juan Miguel Gonzalez, to have Elian's temporary custody shifted from his great-uncle Lazaro Gonzalez to another great-uncle, Manolo Gonzalez. Both great-uncles live in Miami.
Juan Miguel Gonzalez objected to the media access to Elian that Lazaro Gonzalez's family has permitted and to the treatment of Elian by psychologists selected by Lazaro Gonzalez's family.
Meantime, the possibility of a meeting between Attorney General Janet Reno and Lazaro Gonzalez's family reemerged Thursday. Reno agreed to a meeting earlier this week, only to have Lazaro Gonzalez's family withdraw the request. But discussions have been renewed, a Justice official said Thursday.
Later Thursday, two of Elian's Miami cousins sought support on Capitol Hill for legislation that would help keep the boy in America. One of them, Marisleysis Gonzalez, told a news conference that reports of alcohol-related violations by relatives should not have bearing on the custody case.
``We're doing what's in Elian's best interest. My family is a very close family,'' she said.
Another cousin, Georgina Cid, said Elian's father had intended to flee Cuba himself, but was being coerced by the Castro government to stay and make certain statements.
``He wanted to reunite with his son -- but not in Cuba,'' Cid said. She said she and other family members had spoken to Elian's father by phone both before and after the mother perished.
The father's response when learning that his boy was safe in Miami was ``take care of him until I can go, meaning go to the United States,'' Cid said.
A group of Florida lawmakers introduced legislation this month to grant Elian American citizenship, which would take the decision about Elian's future away from INS and give it to a Florida family court. Support for the bill has been waning.
Reno has already met with Lazaro Gonzalez's lawyer and a Catholic nun from Miami who oppose his return to Cuba, as well as with Elian's two grandmothers from Cuba, who want him returned.
In Havana, Elian's father joined President Fidel Castro on Thursday in a packed auditorium in what has become a daily public rally to press for the boy's return. Speaker after speaker denounced the United States and extolled the virtues of Cuba's communist revolution.
A Justice official, who requested anonymity, said the department has authority, if necessary, to shift temporary custody to someone other than Lazaro Gonzalez. The boy was placed in his care after being found clinging to an inner tube in the Atlantic last Thanksgiving following a boat wreck that killed his mother and 10 other people.
The Immigration and Naturalization Service has ruled in favor of the father's request that the boy be returned to him in Cuba, but that decision was put on hold while the Miami relatives battle in federal court to keep him in this country.
Holder said that INS acted appropriately but ``now that we have this new information, we'll have to look at it, and see, like I said, what steps if any are appropriate.''
Florida state records show Lazaro Gonzalez, 49, was found guilty of driving under the influence of alcohol at least twice from 1991 to 1997. Records also show Lazaro Gonzalez's 62-year-old brother, Delfin Gonzalez, has been found guilty at least twice of driving under the influence.
On Wednesday, Ricardo Alarcon, head of Cuba's National Assembly and Castro's key man for U.S.-Cuban relations, said the convictions prove the homes of those uncles are no place for Elian.
``Practically everyone surrounding him either has been, or may be in the future, joining the prison system in the U.S. That's not the best interest of the child,'' Alarcon told reporters in Havana. He said Elian was ``surrounded by two drunks.''
Armando Gutierrez, a spokesman for the Miami relatives, dismissed the criticism: ``Elian is surrounded by love.'' Elian's relatives and other Miami supporters say his mother died to give him freedom.
The newspaper of Cuba's Communist Party, daily Gramma, published a letter Thursday from Elian's grandmothers to Reno and Immigration and Naturalization Service Commissioner Doris Meissner asking for Elian's return.
``No material good exists that can compete with the value of the family, and it is humiliating for us that people are still questioning our love and the future that awaits Elian at his home,'' said a Spanish version of the letter, dated Feb. 4. | [
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wsj_0171 | Document creation time: 11/02/89
Valley Federal Savings amp Loan Association took an $89.9 million charge as it reported a third-quarter loss of $70.7 million, or $12.09 a share.
The Van Nuys, Calif., thrift had net income of $132,000, or three cents a share, a year ago.
The bulk of the pretax charge is a $62 million write-off of capitalized servicing at the mobile home financing subsidiary, which the company said had been a big drain on earnings. The company said the one-time provision would substantially eliminate all future losses at the unit. Valley Federal also added $18 million to realestate loan reserves and eliminated $9.9 million of good will.
The thrift said that "after these charges and assuming no dramatic fluctuation in interest rates, the association expects to achieve near record earnings in 1990."
Valley Federal is currently being examined by regulators. New loans continue to slow; they were $6.6 million in the quarter compared with $361.8 million a year ago. The thrift has assets of $3.2 billion. | [
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PRI19980216.2000.0170 | Document creation time: 19980216
The British government has formally called for Sinn Fein, the IRA's political wing, to be expelled from the multiparty peace talks on northern Ireland. The move had been widely expected after northern Ireland police said they believe the IRA was behind two killings in Belfast last week. Sinn Fein chairman Mitchell McLaughlin says the party will challenge the move by legal means if they have to.
We're going to fight it. And uh we've already challenged, very strongly, the uh the terms in which this has been presented. But we're challenging it on the ground that uh the RUC uh have offered an opinion, and this opinion is going to be used as a mechanism for ejecting us from the talks, and uh that's a very serious.
Any decision to expel Sinn Fein must be agreed jointly by the governments of both Britain and the Irish Republic. | [
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APW19980810.0907 | Document creation time: 1998-08-10
NAIROBI, Kenya (AP) _
The following are the latest figures as of Monday for the dead and injured in the bombings of the U.S. Embassies in Nairobi, Kenya, and Dar es Salaam, Tanzania.
The source for the Kenyan figures is the Department of Relief and Rehabilitation in the office of President Daniel arap Moi.
The source for the Tanzanian figures is the U.S. Embassy in Dar es Salaam.
KENYA:
Total Dead: 192
Americans: 12
Injured: 4,877
Hospitalized: 542
Treated and discharged: 4,257
TANZANIA:
Total dead: 10
Americans: 0
Injured: 74
Hospitalized: 6 | [
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wsj_0006 | Document creation time: 11/02/89
Pacific First Financial Corp. said shareholders approved its acquisition by Royal Trustco Ltd. of Toronto for $27 a share, or $212 million.
The thrift holding company said it expects to obtain regulatory approval and complete the transaction by year-end. | [
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wsj_0661 | Document creation time: 10/30/89
A unit of DPC Acquisition Partners launched a $10-a-share tender offer for the shares outstanding of Dataproducts Corp., and said it would seek to liquidate the computer-printer maker "as soon as possible," even if a merger isn't consummated.
DPC Acquisition is controlled by Crescott Investment Associates, Wilson Investment Group, Kernel Corp. and Catalyst Partners. The investor group owns 1,534,600 Dataproducts common shares, or a 7.6% stake.
The offer is based on several conditions, including obtaining financing. DPC Acquisition said it had received the reasonable assurance of Chase Manhattan Bank N.A. that the financing can be obtained.
In a filing with the Securities and Exchange Commission, DPC Acquisition said it expects it will need about $215 million to buy the shares and pay related fees and expenses. DPC Acquisition added that it has not begun discussions with financing sources, and said it expected to repay the amounts borrowed through proceeds of the liquidation.
Dataproducts officials declined to comment, and said they had not yet seen a suit filed in federal court by DPC Acquisition that seeks to nullify a standstill agreement between DPC Acquisition and Dataproducts.
Earlier this year, DPC Acquisition made a $15-a-share offer for Dataproducts, which the Dataproducts board said it rejected because the $283.7 million offer was not fully financed. Dataproducts has since started a restructuring, and has said it is not for sale. | [
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wsj_0781 | Document creation time: 10/27/89
Intel Corp.'s most powerful computer chip has flaws that could delay several computer makers' marketing efforts, but the "bugs" aren't expected to hurt Intel and most computer makers.
Computer experts familiar with the flaws, found in Intel's 80486 chip, say the defects don't affect the average user and are likely to be cleared up before most computers using the chip as their " brains " appear on the market sometime next year.
Intel said that last week a customer discovered two flaws in its 80486 microprocessor chip's "floating-point unit", a set of circuits that do certain calculations. On Friday, Intel began notifying customers about the bugs which cause the chip to give wrong answers for some mathematical calculations.
But while International Business Machines Corp. and Compaq Computer Corp. say the bugs will delay products, most big computer makers said the flaws don't affect them. "Bugs like this are just a normal part of product development," said Richard Archuleta, director of Hewlett-Packard Co.'s advanced systems development. Hewlett announced last week that it planned to ship a computer based on the 486 chip early next year. "These bugs don't affect our schedule at all," he said.
Likewise, AST Research Inc. and Sun Microsystems Inc. said the bugs won't delay their development of 486-based machines. "We haven't modified our schedules in any way," said a Sun spokesman. To switch to another vendor's chips, "would not definitely be an option," he said.
Nonetheless, concern about the chip may have been responsible for a decline of 87.5 cents in Intel's stock to $32 a share yesterday in over-the-counter trading, on volume of 3,609,800 shares, and partly responsible for a drop in Compaq's stock in New York Stock Exchange composite trading on Wednesday. Yesterday, Compaq plunged further, closing at $100 a share, off $8.625 a share, on volume of 2,633,700 shares.
Most of Compaq's decline is being attributed to a third-quarter earnings report that came in at the low end of analysts' expectations.
Intel said it had corrected the problems and would start producing bugless chips next week. "We should not be seeing any more," said Bill Rash, Intel's director for the 486 chip.
What's more, the bugs only emerge on esoteric applications such as computer-aided design and scientific calculations, he said, and then very seldom. "These errata do not affect business programs," he said. The bugs will cause problems in "specific and rare circumstances that will not occur in typical applications" such as word-processing and spreadsheets, said Michael Slater, editor of the Microprocessor Report, an industry newsletter.
Sun, Hewlett-Packard and others say Intel isn't wholly to blame for the snafu. The real culprits, they said, are computer makers such as IBM that have jumped the gun to unveil 486-based products. "The reason this is getting so much visibility is that some started shipping and announced early availability," said Hewlett-Packard's Mr. Archuleta. "You can do that but you're taking a risk. Those companies are paying the price for taking the risk."
In late September, IBM began shipping a plug-in card that converts its PS/2 model 70-A21 from a 80386 machine to an 80486 machine. An IBM spokeswoman said the company told customers Monday about the bugs and temporarily stopped shipping the product.
IBM has no plans to recall its add-on cards, the spokeswoman said, and could probably circumvent the bugs without long product delays. "We don't look at this as a major problem for us," she said.
Compaq, which said it discovered the bugs, still plans to announce new 486 products on Nov. 6. Because of the glitch, however, the company said it doesn't know when its machine will be commercially available. That's a break from Compaq tradition, because the company doesn't announce products until they're actually at the dealers.
The problem is being ballyhooed, experts say, because the 486 is Intel's future flagship. Intel's microprocessors are the chips of choice in many of today's personal computers and the 80486 microprocessor is the spearhead of the company's bid to guard that spot in the next generation of machines.
"Although these sorts of bugs are not at all uncommon, the 486 is an extremely high-profile product," said Mr. Slater, the newsletter editor.
Intel's 80486 chip is the Corvette of Intel's microprocessors, a super-fast, super-expensive chip that only the most power-hungry computer users are likely to buy for at least several years.
Unveiled last April, the chip crams 1.2 million transistors on a sliver of silicon, more than four times as many as on Intel's earlier model, 80386. Intel clocks the chip's speed at 15 million instructions per second, or MIPs. That's four times as fast as the 386.
Machines using the 486 are expected to challenge higher-priced work stations and minicomputers in applications such as so-called servers, which connect groups of computers together, and in computer-aided design.
But while the chip's speed in processing power is dazzling, it's real strength lies in its software inheritance. The 486 is the descendant of a long series of Intel chips that began dominating the market ever since IBM picked the 16-bit 8088 chip for its first personal computer. (A 16-bit microprocessor processes 16 pieces of data at a time and is slower than newer, 32-bit chips.) Since then, Intel has cornered a large part of the market with successive generations of 16-bit and 32-bit chips, all of which can run software written for previous models.
That's what will keep computer makers coming in spite of the irritation of bugs. Big personal computer makers and many makers of engineering workstations are developing 486-based machines, which are expected to reach the market early next year.
Of the big computer makers, only Apple Computer Co. bases its machines on Motorola chips instead. "The 486 is going to have a big impact on the industry," said Hewlett-Packard's Mr. Archuleta. "It's going to be the leading edge technology in personal computers for the next few years. This bug is not going to have any affect on that at all."
Andy Zipser in Dallas contributed to this article. | [
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wsj_0558 | Document creation time: 10/30/89
Aetna Life amp Casualty Co.'s third-quarter net income fell 22% to $182.6 million, or $1.63 a share, reflecting the damages from Hurricane Hugo and lower results for some of the company's major divisions.
Catastrophe losses reduced Aetna's net income by $50 million, including $36 million from Hugo. Last year catastrophe losses totaled $5 million, when net was $235.5 million, or $2.07 a share. The year-earlier results have been restated to reflect an accounting change.
The insurer has started processing claims from the Northern California earthquake nearly two weeks ago. But because these claims are more difficult to evaluate and have been coming in more slowly, the company has no estimate of the impact of the earthquake on fourth-quarter results.
In New York Stock Exchange composite trading Friday, Aetna closed at $60, down 50 cents.
In the latest quarter, Aetna had a $23 million loss on its auto/homeowners line, compared with earnings of $33 million last year. Profit for its commercial insurance division fell 30% to $59 million, reflecting higher catastrophe losses and the price war in the property/casualty market for nearly three years.
However, Aetna's employee benefits division, which includes its group health insurance operations, posted a 34% profit gain to $106 million.
Third-quarter results included net realized capital gains of $48 million, which included $27 million from the sale of Federated Investors in August and a $15 million tax credit.
In the nine months, net rose 4.3% to $525.8 million or $4.67 a share, from $504.2 million, or $4.41 a share, last year. | [
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wsj_0816 | Document creation time: 10/27/89
Some lousy earnings reports whacked the stock market, but bond prices fell only slightly and the dollar rose a little against most major currencies.
The Dow Jones Industrial Average tumbled 39.55 points, to 2613.73, in active trading. Long-term Treasury bonds ended slightly higher. The dollar rose modestly against the mark and the yen, but soared against the pound following the resignation of Britain's chancellor of the Exchequer, Nigel Lawson.
Analysts have complained that third-quarter corporate earnings haven't been very good, but the effect hit home particularly hard yesterday. Compaq Computer nose-dived $8.625 a share, to $100, and pulled other technology issues lower after reporting lower-than-expected earnings after the stock market closed Wednesday. Later yesterday the nation's major auto makers added to the gloom when they each reported their core auto operations were net losers in the third quarter.
The less-than-robust third-quarter results came amid renewed concern about the volatility of stock prices and the role of computer-aided program trading. Taken together, the worries prompted a broad sell-off of stocks. The number of stocks on the New York Stock Exchange that fell in price yesterday exceeded 1,000, a key measure of underlying sentiment among technical analysts.
Although the government said the economy grew an estimated 2.5% in the third quarter, in line with expectations, analysts are increasingly predicting much more sluggish growth -- and therefore more corporate earnings disappointments -- for the fourth quarter.
"There are a lot more downward revisions of earnings forecasts than upward revisions," said Abby Joseph Cohen, a market strategist at Drexel Burnham Lambert. "People are questioning corporate profits as a pillar of support for the equity market."
The bond market was unmoved by the economic statistics. While bond investors would have preferred growth to be a little slower, they were cheered by inflation measures in the data that showed prices rising at a modest annual rate of 2.9%. That is another small encouragement for the Federal Reserve to lower interest rates in coming weeks, they reasoned.
In major market activity: Stock prices fell sharply in active trading. Volume on the New York Stock Exchange totaled 175.2 million shares. Declining issues on the Big Board outstripped gainers 1,141 to 406.
Bond prices were barely higher. The Treasury's benchmark 30-year rose fractionally. Yield on the issue was 7.88%.
The dollar rose modestly against most major currencies. In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen Wednesday. The dollar soared against the pound, which was at $1.5765 compared with $1.6145 Wednesday. | [
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ABC19980108.1830.0711 | Document creation time: 19980108
On the other hand, it's turning out to be another very bad financial week for Asia. The financial assistance from the World Bank and the International Monetary Fund are not helping. In the last twenty four hours, the value of the Indonesian stock market has fallen by twelve percent. The Indonesian currency has lost twenty six percent of its value. In Singapore, stocks hit a five year low. In the Philippines, a four year low. And in Hong Kong, a three percent drop. More problems in Hong Kong for a place, for an economy, that many experts thought was once invincible. Here's ABC's Jim Laurie.
Not that long ago, before the Chinese takeover, the news about real estate here was that the sky was the limit the highest prices in the world. So when Wong Kwan spent seventy million dollars for this house, he thought it was a great deal. He sold the property to five buyers and said he'd double his money.
In Hong Kong, is always belongs to the seller's market.
Now with new construction under way, three of his buyers have backed out. And Wong Kwan will be lucky to break even. All across Hong Kong, the property market has crashed. Pamela Pak owns eight condominiums here. Pak can't find buyers. She estimates her properties, worth a hundred thirty million dollars in October, are worth only half that now.
They believe ah it will be always up going up and up ah forever. Nobody believe this any more.
Of all of Asia's economies, Hong Kong is the most robust. But in the past three months, stocks have plunged, interest rates have soared and the downturn all across Asia means that people are not spending here.
Hotels are only thirty percent full. You can get seventy percent discounts at the shopping malls. Three thousand dollar pearls for eight hundred dollars. A two hundred dollar wool jacket for fifty dollars. Still, there are few buyers. And at the big brokerage houses, after ten years of boom, they're talking about layoffs.
I think that the mood is fairly gloomy, and I think it's not going to change for a couple of years.
So for Hong Kong, it's time, as investment bankers like to say, to reposition. To either hold on tight or get out, as much of Asia goes into recession. Jim Laurie, ABC News, Hong Kong. | [
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APW199980817.1193 | Document creation time: 1998-08-17
DAR ES SALAAM, Tanzania (AP) _
U.S. Secretary of State Madeleine Albright headed Tuesday to East Africa, seeking to demonstrate American support after the bombings that targeted U.S. embassies, but mostly claimed African lives.
``To America's embassy personnel in Nairobi and Dar es Salaam, I will bring a message of solidarity in their sorrow, admiration for their courage and support for their continued efforts on behalf of our country,'' Albright said Monday before leaving Andrews Air Force Base, Maryland . ``To the people of Kenya and Tanzania, I will bring a message of friendship, made deeper by our shared grief, and of support in doing all we can to ease their suffering and help them start anew.''
Albright, after a 16-hour flight, is scheduled to spend only five hours on the ground in Dar es Salaam, Tanzania, her first stop Tuesday morning, and then about 5 1/2 hours in Nairobi, Kenya, later in the day before returning immediately home.
Albright's visit to East Africa was designed in part to demonstrate U.S. resolve in the face of growing terrorist threats to Americans.
Some Kenyans have complained that after the Nairobi bombing, rescuers gave priority to finding American victims and to protecting evidence at the expense of saving African lives. But Albright and other U.S. officials have strongly disputed that notion, saying the priority had been rescuing all possible, African and American.
On Friday, when Albright set aside vacation plans for the hastily planned trip to East Africa, the State Department lifted a warning against travel to Kenya, whose economy relies heavily on foreign visitors, to further ease any strain in the aftermath of the tragedy.
Just ahead of Albright's one-day trip, the State Department on Sunday issued an updated ``worldwide caution'' to U.S. travelers in the aftermath of the Aug. 7 bombings at American embassies in Kenya and Tanzania and because of fresh threats to U.S. interests abroad.
An accompanying statement specifically warned ``against all travel to Pakistan.'' The State Department also ordered the departure of all non-emergency personnel and families of employees from the embassy at Islamabad and from U.S. consulates in Karachi, Lahore and Peshawar.
The warnings came after Pakistan handed over to Kenyan officials a suspect in the U.S. Embassy bombings, Mohammed Saddiq Odeh, also known as Mohammad Sadiq Howaida and Abdull Bast Awadh.
The first batch of evidence from the Nairobi bombing arrived over the weekend at the FBI lab at the bureau's Washington headquarters and is being analyzed, FBI officials said Monday.
Many more shipments are expected, but the first batch contained cotton swabs taken at the blast site in hopes of picking up microscopic residues that could positively identify what the bomb was made of. A U.S. official said last week that field tests suggested the presence of a Czech-made plastic explosive called Semtex that has been used by terrorist groups before. | [
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wsj_0695 | Document creation time: 10/27/89
A group of investors led by Giant Group Ltd. and its chairman, Burt Sugarman, said it filed with federal antitrust regulators for clearance to buy more than 50% of the stock of Rally's Inc., a fast-food company based in Louisville, Ky.
Rally's operates and franchises about 160 fast-food restaurants throughout the U.S. The company went public earlier this month, offering 1,745,000 shares of common stock at $15 a share. Giant has interests in cement making and newsprint.
The investor group includes Restaurant Investment Partnership, a California general partnership, and three Rally's directors: Mr. Sugarman, James M. Trotter III and William E. Trotter II. The group currently holds 3,027,330 Rally's shares, or 45.2% of its commmon shares outstanding. Giant Group owned 22% of Rally's shares before the initial public offering.
A second group of three company directors, aligned with Rally's founder James Patterson, also is seeking control of the fast-food chain. It is estimated that the Patterson group controls more than 40% of Rally's stock.
Rally officials weren't available to comment late yesterday.
For the year ended July 2, Rally had net income of $2.4 million, or 34 cents a share, on revenue of $52.9 million. | [
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wsj_0583 | Document creation time: 10/30/89
Polly Peck International Inc.'s agreement to acquire 51% of Sansui Electric Co. proves that foreign companies can acquire Japanese companies -- if the alternative for the Japanese company is extinction.
Polly Peck, a fast-growing British conglomerate, will pay 15.6 billion yen ($110 million) for 39 million new shares of Sansui, a well-known maker of high-fidelity audio equipment that failed to adjust to changing market conditions. Japanese government officials, eager to rebut foreign criticism of Japanese investments overseas, hailed the transaction as proof foreigners can make similar investments in Japan. Polly Peck's chairman, Asil Nadir, echoed the official Japanese view of the accord, which was announced Friday.
"The myths that Japan is not open to concerns from outside has, I think, been demolished at a stroke," Mr. Nadir said.
But analysts say Sansui is a special case. It expects to post a loss of 6.4 billion yen for the year ending tomorrow and its liabilities currently exceed its assets by about 13.8 billion yen. "If you find sound, healthy companies in Japan, they are not for sale," said George Watanabe, a management-consultant at Tokyo-based Asia Advisory Services Inc.
Statistics on acquisitions by foreigners vary in detail, because unlike Sansui, which is listed on the Tokyo and Osaka stock exchanges, most of the Japanese companies acquired by foreigners are privately held. But by all accounts foreign companies have bought only a relative handful of Japanese companies this year, while Japanese companies have acquired hundreds of foreign companies.
Nor do analysts expect the Sansui deal to touch off a fresh wave of foreign purchases. If the strong yen and the high stock prices of Japanese companies weren't deterrents enough, webs of cross-shareholdings between friendly Japanese companies and fiercely independent Japanese corporate attitudes repel most would-be acquirers.
Usually when a Japanese company is ready to sell, it has few alternatives remaining, and the grim demeanors of Sansui's directors at a joint news conference here left little doubt that this was not the company's finest hour. Sansui was once one of Japan's premier makers of expensive, high-quality stereo gear for audiophiles.
But in recent years, the market has moved toward less expensive "mini-component" sets, miniaturized amplifiers and receivers and software players that could be stacked on top of each other.
Some of Sansui's fellow audio-specialty companies, such as Aiwa Co. and Pioneer Electric Corp., responded to the challenge by quickly bringing out mini-component products of their own, by moving heavily into the booming compact disk businesses or by diversifying into other consumer-electronics fields, including laser disks or portable cassette players. Sansui was late into the mini-component business and failed to branch into other new businesses.
As the yen soared in recent years, Sansui's deepening financial problems became a vicious circle. While competitors moved production offshore in response to the sagging competitiveness of Japanese factories, Sansui lacked the money to build new plants in Southeast Asia. "Our company has not been able to cope very effectively with" changes in the marketplace, said Ryosuke Ito, Sansui's president.
But even a Japanese company that looks like a dog may turn out to be a good investment for a foreign concern, some management consultants maintain.
Yoshihisa Murasawa, a management consultant for Booz-Allen amp Hamilton (Japan) Inc., said his firm will likely be recommending acquisitions of Japanese companies more often to foreign clients in the future. "Attitudes {toward being acquired} are still negative, but they're becoming more positive," Mr. Murasawa said. "In some industries, like pharmaceuticals, acquisitions make sense."
Whether Polly Peck's acquisition makes sense remains to be seen, but at the news conference, Mr. Nadir brimmed with self-confidence that he can turn Sansui around. Sansui, he said, is a perfect fit for Polly Peck's electronics operations, which make televisions, videocassette recorders, microwaves and other products on an "original equipment maker" basis for sale under other companies' brand names.
He said Polly Peck will greatly expand Sansui's product line, using Sansui's engineers to design the new products, and will move Sansui's production of most products other than sophisticated audio gear offshore into Polly Peck's own factories.
"Whatever capital it (Sansui) needs so it can compete and become a totally global entity capable of competing with the best in the world, that capital will be injected," Mr. Nadir said.
And while Polly Peck isn't jettisoning the existent top-management structure of Sansui, it is bringing in a former Toshiba Corp. executive as executive vice president and chief operating officer.
Such risk taking is an everyday matter for the brash Mr. Nadir, who is 25% owner of Polly Peck as well as its chairman. He took Polly Peck, once a small fabric wholesaler, and used it at as a base to build a conglomerate that has been doubling its profits annually since 1980. In September, it announced plans to acquire the tropical-fruit business of RJR Nabisco Inc.'s Del Monte foods unit for #557 million ($878 million).
Last month, Polly Peck posted a 38% jump in pretax profit for the first half to #54.8 million from #39.8 million on a 63% rise in sales.
Joann S. Lublin in London contributed to this article. | [
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NYT19980402.0453 | Document creation time: 04/02/1998 22:52:00
NEWARK, N.J. _ A new Essex County task force began delving Thursday into the slayings of 14 black women over the last five years in the Newark area, as law-enforcement officials acknowledged that they needed to work harder to solve the cases of murdered women. The police and prosecutors said they had identified different suspects in six of the cases and had yet to find any pattern linking the killings or the victims, several of whom were believed to be prostitutes. State, county and local law-enforcement officials have expressed concerns in recent months about a possible pattern of murdered women and a disproportionate number of unsolved cases. Citing an example, Sgt. Derek Glenn, a spokesman for the Newark Police Department, said that of nine women who had been killed last year, suspects had been arrested in only four cases. But over all, arrests were made in more than 60 percent of murder cases, he said. Eight of the 14 killings since 1993 were already under investigation by the Newark Police Department, Glenn said. Of the eight victims, three were stabbed, two were strangled, two were beaten to death and one was asphyxiated, he said, and these different methods of killing and other evidence seem to indicate that the eight cases are not related. But with the task-force investigation just getting under way, officials have been careful not to draw any firm conclusions, leaving open the possibility of a serial killer in some of the cases. There have been no arrests in any of the slayings. ``I haven't seen a pattern yet, '' said Patricia Hurt, the Essex County prosecutor, who created the task force on Tuesday. ``The type of lifestyle these women have is extremely dangerous,'' she said. | [
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wsj_0791 | Document creation time: 10/27/89
Norwood Partners Limited Partnership of Boston said it may make a tender offer for some or all of Phoenix Technologies Ltd.'s common shares.
Norwood, Mass.-based Phoenix, a once-high-flying maker of software for personal computers, has had substantial losses in the past two quarters. Its stock, which was as high as $18.75 a share, has been trading under $4 a share recently. Yesterday it closed at $4.375 a share, up $1.125, in national over-the-counter trading.
In a Securities and Exchange Commission filing, Norwood said it's part of a group that holds 525,546 Phoenix Technologies common shares, or a 5.3% stake.
Norwood has made "no detailed plans," but it has engaged in talks with other shareholders, the filing said. Phoenix declined to comment.
Norwood is controlled by Daniel L. Barnett and Paul A. Reese, both officers of Boston-based Oasis Capital Management Inc., a small Boston money management firm. Also involved in the group is Robert F. Angelo, formerly Phoenix's senior vice president, field operations, who left Phoenix at the beginning of October. Mr. Angelo was described in the filing as a consultant to Oasis. | [
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NYT20000329.0359 | Document creation time: 2000-03-29
MIAMI _
Elected officials in and around Miami warned U.S. immigration officials Wednesday that they should expect little help from the police here when they come for 6-year-old Elian Gonzalez, and they said this city could erupt in violence if federal agents tried to forcibly take the boy from his great-uncle's house in Little Havana and send him back to Cuba.
``We will not lend our respective resources, whether they be in the form of police officers or any other resources, to assist the federal government in any way, shape or form to inappropriately repatriate Elian Gonzalez to Cuba,'' said Alex Penelas, mayor of Miami-Dade County.
As of Wednesday evening, Lazaro Gonzalez, the boy's great-uncle and temporary guardian, still had not signed an agreement to hand the child over to immigration officials if the Miami relatives lose a fight to keep him when the case is heard in May in the 11th Circuit U.S. Court of Appeals.
``I won't cooperate in anything,'' Gonzalez told a Spanish-language television station. ``The boy lives in my house, and they'll have to go find him there.''
As pressure built in this city, the home of a large number of Cuban exiles, officials of the Immigration and Naturalization Service said they did not plan to remove Elian on Thursday morning even if his Miami relatives continued to defy them. But an INS spokeswoman said the agency would revoke Elian's permission to stay in the United States, clearing the way for his return to Cuba.
In Havana, Cuban President Fidel Castro said that the boy's father, Juan Miguel Gonzalez, would travel to the United States to bring his son home after the custody battle has been decided in the courts. Elian's father would be accompanied by other family members from Cuba, some of the boy's former classmates and teachers, and psychiatric experts, Castro said on Cuban television.
``We have the perfect formula for reinserting Elian,'' Castro said. He also said that the group would be willing to wait as long as it takes to bring the boy back.
Asked to comment on Castro's announcement, a Justice Department spokesman said:
``Certainly it changes things. How it changes things is a little hard to say at this point. If the father shows up in Miami and decides to go and ring the doorbell of his relatives and find his son, well, the family in Miami is on record as saying they would turn over Elian to him. Whether they actually do this remains to be seen.'' | [
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wsj_0161 | Document creation time: 11/02/89
Hadson Corp. said it expects to report a third-quarter net loss of $17 million to $19 million because of special reserves and continued low natural-gas prices.
The Oklahoma City energy and defense concern said it will record a $7.5 million reserve for its defense group, including a $4.7 million charge related to problems under a fixed-price development contract and $2.8 million in overhead costs that won't be reimbursed.
In addition, Hadson said it will write off about $3.5 million in costs related to international exploration leases where exploration efforts have been unsuccessful.
The company also cited interest costs and amortization of goodwill as factors in the loss.
A year earlier, net income was $2.1 million, or six cents a share, on revenue of $169.9 million. | [
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wsj_0167 | Document creation time: 11/02/89
RMS International Inc., Hasbrouk Heights, N.J., facing a cash-flow squeeze, said it is seeking other financing sources and waivers from debenture holders.
The company said that because of softening sales it isn't in compliance with requirements that it maintain $3 million in working capital. RMS distributes electronic devices and produces power supplies and plastic literature displays.
RMS said it had a loss of $158,666, or 10 cents a share, in the third quarter, compared with a year-earlier loss of $26,956, or two cents a share. Sales rose to $3 million from $2.9 million.
For the nine months, the company reported a net loss of $608,413, or 39 cents a share, compared with year-earlier net income of $967,809, or 62 cents a share. Sales rose to $9.8 million from $8.9 million. | [
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wsj_0751 | Document creation time: 10/27/89
Dime Savings Bank of New York was cleared by the Federal Deposit Insurance Corp. to acquire Starpointe Savings Bank of Somerset, N.J., the banks said.
Starpointe holders, who approved the plan last April, will receive $21 in cash a share, or a total $63 million. The FDIC cleared the move yesterday, and the banks must wait at least 30 days before closing the purchase. A closing date hasn't been set. The thrifts agreed to the transaction in August 1988. | [
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APW19980227.0487 | Document creation time: 02/27/1998 08:09:00
Taking the stand in her own defense, a friend of Yitzhak Rabin's assassin said Friday that she regretted calling the prime minister a traitor and praying for his death. Margalit Har-Shefi, 22, has pleaded innocent to charges that she failed to report Yigal Amir's plan to kill Rabin. She took the stand for more than four hours Friday in a Tel Aviv magistrate's court. Amir, 27, is serving a life sentence for the November 1995 assassination of Rabin at a Tel Aviv peace rally. Newspaper reports have said Amir was infatuated with Har-Shefi and may have been trying to impress her by killing the prime minister. Har-Shefi acknowledged she told police interrogators that Rabin was a traitor and that she prayed for him to have a heart attack and die. She said Rabin's murder was ``a black stain on Israel,'' Israel radio and Israel army radio reported. Har-Shefi said she heard Amir talk about killing Rabin but did not tell the police because she did not believe he was serious. Instead, she turned to her community rabbi in the Jewish West Bank settlement of Beit El and told him about Amir's statements. The rabbi said called the talk about killing Rabin ``nonsense,'' and said Jews are prohibited from killing one another, the radio reports said. Har-Shefi described Amir as an ``original thinker,'' as well as delusional and a liar. She also denied accusations made by Amir's brother, Hagai, that she joined an anti-Arab underground movement. She said she gave the Amir brothers false information regarding the location of a weapons and ammunition cache when they asked her to help organize such a movement. | [
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APW19990216.0198 | Document creation time: 1999-02-16 12:55:33
WASHINGTON (AP) --
Secretary of State Madeleine Albright has invited the foreign ministers of Poland, the Czech Republic and Hungary to a ceremony in Independence, Mo., on March 12 to mark the accession of the three countries into the NATO alliance.
The ceremony will take place at the Truman Presidential Library.
The venue was chosen to honor the announcement by President Truman of the creation of NATO 50 years ago, the State Department said. | [
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APW20000128.0316 | Document creation time: 2000-01-28
HAVANA (AP) --
Calling the mother of Elian Gonzalez ``an excellent girl,'' President Fidel Castro said Friday she had been ``practically kidnapped'' by the boyfriend who perished along with her on the boat wreck her 6-year-old son survived.
Castro's remarks to a conference of economists were aimed at those who say that Elian should remain in the United States because his mother sacrificed his life to take her to ``freedom,'' a vision he called a cliche.
He placed the blame on Lazaro Rafael Munero, who apparently organized the ill-fated journey on which Elian's mother Elisabeth Brotons and 10 other people -- including Munero -- died.
Castro called Munero -- who reportedly drove a taxi and engaged in unofficial businesses in the Cuban city of Cardenas -- a ``ruffian'' on whom Cuban police had amassed ''100 pages of reports.''
According to sources quoted by the Miami Herald, Munero had fled to Florida in June 1998 and returned to Cuba later that year, only to be jailed for several months.
``The mother was practically kidnapped along with the boy'' to make the late-November trip, Castro said.
The Cuban leader said Elian had been especially loved by his parents because the mother had earlier suffered seven miscarriages.
Earlier Friday, Cuba's communist government celebrated the birth of independence hero Jose Marti on Friday with rallies calling for the return of Elian Gonzalez, the ``boy martyr'' at the center of an international custody battle.
Tens of thousands of children flooded Havana's Plaza of the Revolution to deliver a dual homage to Marti and Elian, the 6-year-old Cuban whose rescue off Florida's coast two months ago set off a tug-of-war between relatives living on both sides of the Florida Straits.
Wearing their red Communist Pioneer neckerchiefs, a string of young boys and girls recited poems they wrote for Elian, dubbed Cuba's ``boy hero'' and ``symbolic child,'' and for Marti, commonly known on the island as Cuba's ``teacher'' and ``apostle.''
The Communist Party daily Granma compared Elian with revolutionary icon Ernesto ``Che'' Guevara and said the boy ``has been converted forever into a symbol of the crimes and injustices that imperialism is capable of committing against an innocent.''
The commemorations were similar to those held here annually for Marti, the revolutionary and poet who fought for Cuba's independence from Spain in 1898. But this year, children wore T-shirts bearing Elian's portrait with their school uniforms.
The commemorations began early Friday morning, as tens of thousands of Cubans marched through Havana's streets by torchlight. Similar events were held all day in the capital and across the island.
In Old Havana, hundreds of children marched around the Parque Central chanting ``We will save Elian!'' A small group of girls wore construction paper handcuffs -- an apparent reference to the government's characterization of Elian's retention in the United States as a ``kidnapping.''
Fidel Castro's government has been using such traditional political events -- along with other rallies almost every day -- to draw attention to the case of Elian, who was rescued Nov. 25 while clinging to an inner tube. His mother and 10 others died at sea while trying to reach the United States.
For the past two months, Elian's father has demanded that the boy be returned to him in Cuba, and the U.S. government has said that father and son should be reunited.
But Elian's paternal great-uncle in the United States, backed by the anti-Castro Cuban American National Foundation, is fighting in the courts to keep the boy in Miami.
Cuba kept up its condemnation of the handling of Wednesday's meeting between Elian and his grandmothers at the home of a Roman Catholic nun in Miami Beach, Fla. Sister Jeanne O'Laughlin said after the meeting she thought Elian should stay in the United States.
``First Fruits of the Monstrousness,'' read the full-page editorial on the front of Friday's edition of the Communist Party daily Granma. It offered more details and criticisms of the perceived treatment that Elian's grandmothers, Mariela Quintana and Raquel Rodriguez, received from O'Laughlin, the Miami relatives and other anti-Castro Cubans during the encounter.
In an interview with the Spanish language broadcast of CNN, Elian's father also criticized how the meeting was handled. He repeated charges that his relatives and others in Miami had offered him money to stay in the United States with his son.
``They are not going to buy me,'' said Juan Miguel Gonzalez. ``What is important for me is that they return the boy to me as soon as possible.'' | [
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APW19980308.0201 | Document creation time: 03/08/1998 06:26:00
ISTANBUL, Turkey (AP)_ Some 1,500 ethnic Albanians marched Sunday in downtown Istanbul, burning Serbian flags to protest the killings of ethnic Albanians by Serb police in southern Serb Kosovo province. The police barred the crowd from reaching the Yugoslavian consulate in downtown Istanbul, but allowed them to demonstrate on nearby streets. ``Stop the bloodshed in Kosovo,'' the protesters chanted. Meanwhile in the capital, Ankara, a few hundred ethnic Albanians laid a black wreath at the gate of Yugoslavian embassy. Ethnic Albanians comprise 90 percent of the population in Kosovo, but Serbs maintain control through a large military and police presence. Serbian police say they are trying to eliminate the pro-independence Kosovo Liberation Army and restore order. At least 51 people were reported killed in clashes between Serb police and ethnic Albanians in the troubled region in recent days. Turkey, worried about civil war in Kosovo spilling to the whole Balkans, urged all Balkan states to sign a joint declaration that the Kosovo crisis be solved peacefully and without any change of borders. Turks feel they have special ties to the whole region, which they ruled for hundreds of years during the Ottoman Empire. They also share Islam with the ethnic Albanians. | [
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wsj_0376 | Document creation time: 10/31/89
Courtaulds PLC announced plans to spin off its textiles operations to existing shareholders in a restructuring to boost shareholder value.
The British chemical and textile company's plan, which requires shareholder approval, would create a new, listed U.K. stock with a probable market capitalization between #300 million ($473 million) and #400 million, analysts said. The establishment of the separate company, to be called Courtaulds Textiles, could be effective as early as next year's first quarter.
Investors welcomed the move. Courtaulds' shares rose 15 pence to 362 pence, valuing the entire company at about #1.44 billion.
Courtaulds' spinoff reflects pressure on British industry to boost share prices beyond the reach of corporate raiders. Courtaulds' restructuring is among the largest thus far in Britain, though it is dwarfed by B.A.T Industries PLC's plans to spin roughly off #4 billion in assets to help fend off a takeover bid from Anglo-French financier Sir James Goldsmith. The divested Courtaulds textile operations had operating profit of #50 million on #980 million in revenue in the year ended March 31.
Some analysts have said Courtaulds' moves could boost the company's value by 5% to 10%, because the two entities separately will carry a higher price earnings multiple than they did combined. In addition, Courtaulds said the moves are logical because they will allow both the chemicals and textile businesses to focus more closely on core activities.
Courtaulds has been under pressure to enhance shareholder value since takeover speculators -- including Australian financier Kerry Packer -- surfaced holding small stakes last year. Though Mr. Packer has since sold his stake, Courtaulds is moving to keep its institutional shareholders happy. Even without a specific takeover threat, Courtaulds is giving shareholders "choice and value," said Julia Blake, an analyst at London stockbrokers Barclays de Zoete Wedd.
In a statement, the company said: "Both parts can only realize their full potential and be appropriately valued by the market if they are separately quoted companies. The sharper definition and the autonomy which each will thereby gain will benefit shareholders, customers and employees."
Courtaulds Chairman and Chief Executive Sir Christopher Hogg will remain in both posts at the surviving chemical company after the spinoff. | [
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APW19990506.0155 | Document creation time: 1999-05-06 15:05:11
BUFFALO, N.Y. (AP) --
An abortion foe who is the subject of an international manhunt was charged with murder Thursday in the slaying of a doctor who was cut down in his kitchen by a sniper's bullet.
Federal and state arrest warrants were issued for James C. Kopp, 44, of St. Albans, Vt. His whereabouts are unknown.
``We have probable cause to believe this man, James Kopp, is responsible for the death of Dr. Barnett Slepian,'' FBI agent Bernard Tolbert said.
Investigators have been searching for Kopp since shortly after the Oct. 23 slaying. Up until Thursday, however, they had described him only as a material witness wanted for questioning -- not a suspect.
In addition to a state charge of murder, Kopp faces a federal charge of violating the Freedom of Access to Clinic Entrances Act by using deadly force against an abortion doctor. Both charges carry up to life in prison. The federal charge also carries a fine of up to $250,000.
The newly filed charges will intensify the ongoing international manhunt, Tolbert said.
In response to the new charges, Canadian officials confirmed that Kopp is a suspect in sniper shootings that injured abortion doctors in November in Vancouver, British Columbia; Winnipeg, Manitoba; and Hamilton, Ontario.
Investigators would not divulge the evidence against Kopp but said last month's discovery of a scope-equipped rifle buried near the Slepian home represented a major breakthrough. Slepian, 52, was shot with a rifle.
Authorities have said they believe the weapon may have been buried in advance of the shooting, with the killer digging it up to fire the shot, then reburying it and fleeing.
Kopp also has been linked, through DNA testing, to a strand of hair found near where the sniper fired, law enforcement sources have said.
Nicknamed the ``Atomic Dog'' in anti-abortion circles, Kopp had been arrested in several states since 1990 for protesting abortion. His car was spotted in Slepian's suburban Amherst neighborhood in the weeks before the shooting, and was found abandoned at New Jersey's Newark International Airport in December, investigators said.
Kopp's stepmother, who married Kopp's father when Kopp was in his 30s, said Thursday from her home in Irving, Texas: ``I would like to see him come forward and clear his name if he's not guilty, and if he's guilty, to contact a priest and make his amends with society, face what he did.''
Kopp is now the second anti-abortion activist being sought by the FBI as a suspect in a fatal attack.
Eric Rudolph has been on the run since the January 1998 bombing of a Birmingham, Ala., abortion clinic that killed an off-duty police officer and maimed a nurse. He also is charged in three Atlanta attacks, including the 1996 Olympic bombing that killed one person. | [
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XIE19990313.0229 | Document creation time: 1999-03-13
WASHINGTON, March 12 (Xinhua) --
Poland, Hungary and the Czech Republic Friday formally joined NATO at a ceremony held in the city of Independence, Missouri.
At the Harry Truman Library in Independence, the three foreign ministers of Bronislaw Geremek of Poland, Janos Martonyi of Hungary and Jan Kavan of the Czech Republic signed formal documents of accession.
In speeches before the signing ceremony, the ministers said their countries saw NATO membership as an assurance of security and recognition of their rightful place in Europe.
Kavan said the Czech Republic would no longer become "the powerless victim of a foreign invasion."
Martonyi called Hunragy's admission in NATO "returning to her natural habitat," saying: "It has been our manifest destiny to rejoin those with whom we share the same values, interests and goals."
And Geremek said it was "a great day for Poland and for the world."
U.S. Secretary of State Madeleine Albright accepted admission papers from the three countries' foreign ministers, marking their formal entry into the 50-year-old Western alliance. "Hallelujah," exclaimed Albright, a daughter of Czechoslovakia, who as a child fled her native land and later became a U.S. citizen.
Ahead of the ceremony, NATO Secretary-General Javier Solana said that the accession of the three countries..."is perhaps the clearest demonstration of the fact that Europe is growing closer together."
"Extending membership to these three democracies helps to stabilize a region that historically has been the staging ground for many of the disasters of this century," Solana added, referring to the two world wars.
The U.S. State Department has said the three new members "enhance NATO's ability to fulfill its core mission of collective defense, respond to a range of security challenges and reduce the possibility of another major conflict in Europe of the kind that has claimed so many American lives." | [
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XIE19990313.0031 | Document creation time: 1999-03-13
WASHINGTON, March 12 (Xinhua) --
Poland, Hungary and the Czech Republic Friday formally joined NATO at a ceremony held in the city of Independence, Missouri.
At the Harry Truman Library in Independence, the three foreign ministers of Bronislaw Geremek of Poland, Janos Martonyi of Hungary and Jan Kavan of the Czech Republic signed formal documents of accession.
In speeches before the signing ceremony, the ministers said their countries saw NATO membership as an assurance of security and recognition of their rightful place in Europe.
Kavan said the Czech Republic would no longer become "the powerless victim of a foreign invasion."
Martonyi called Hunragy's admission in NATO "returning to her natural habitat," saying: "It has been our manifest destiny to rejoin those with whom we share the same values, interests and goals."
And Geremek said it was "a great day for Poland and for the world." | [
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APW19990507.0207 | Document creation time: 1999-05-07 03:44:53
BUFFALO, N.Y. (AP) --
Dr. Barnett Slepian, just back from synagogue, was heating soup in his kitchen last fall when he was gunned down with a single shot through a window.
Slepian's killer is still at large. But for the first time, authorities have named a suspect in the slaying -- anti-abortion activist James Kopp.
``Today, I'm here to tell you we have our suspect,'' said Bernard Tolbert, special agent-in-charge of the FBI's Buffalo office.
Kopp, 44, of St. Albans, Vt., became the subject of an international manhunt in November when he was called a witness in the case. He was charged Thursday in state and federal complaints with second-degree murder and with violating the Freedom of Access to Clinic Entrances Act by using deadly force against an abortion doctor.
Both charges carry a penalty of up to life in prison. The federal charge also carries a fine of up to $250,000.
Kopp's whereabouts remain unknown. He was last seen Nov. 3, the day before authorities issued a material witness warrant in the Slepian shooting in the hope of questioning him. Until Thursday, they had not called Kopp a suspect.
Investigators would not divulge the evidence against Kopp but said last month's discovery of a scope-equipped rifle buried near the Slepian home represented a major breakthrough. Slepian, 52, was shot with a rifle.
Kopp also has been linked, through DNA testing, to a strand of hair found near where the sniper fired, law enforcement sources have said.
Nicknamed the ``Atomic Dog'' in anti-abortion circles, Kopp had been arrested in several states since 1990 for protesting abortion. His car was spotted in Slepian's neighborhood in the weeks before the shooting, and was found abandoned at the Newark, N.J., airport in December.
The filing of the charges has intensified interest in Kopp as a suspect in three non-fatal sniper attacks on Canadian abortion providers, and one near Rochester, N.Y., between 1994 and 1997.
Kopp is now the second anti-abortion activist being sought by the FBI as a suspect in a fatal attack.
Eric Rudolph has been on the run since the January 1998 bombing of a Birmingham, Ala., abortion clinic that killed an off-duty police officer and maimed a nurse. He also is charged in three Atlanta attacks, including the 1996 Olympic bombing that killed one person. | [
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wsj_0752 | Document creation time: 10/27/89
AEP INDUSTRIES Inc. directors authorized a 3-for-2 split of the common, payable Dec. 7 to stock of record Nov. 22. The split was aimed at boosting the stock's liquidity, said Brendan Barba, chairman of the Moonachie, N.J., maker of plastic film products. After the split, the company will have more than 4.7 million shares outstanding. In national over-the-counter trading yesterday, AEP shares closed at $21.25, down 50 cents. | [
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wsj_0534 | Document creation time: 10/30/89
Conseco Inc. said it is calling for the redemption on Dec. 7 of all the 800,000 remaining shares outstanding of its $1.875 Series A convertible preferred stock at $26.805 a share.
The insurance concern said all conversion rights on the stock will terminate on Nov. 30. Until then, Conseco said the stock remains convertible into common stock at the rate of 1.439 shares of common stock for each share of preferred stock, which is equivalent to a conversion price of $17.50 a common share. In New York Stock Exchange trading Friday, Conseco closed at $19.50, down 25 cents. | [
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wsj_0662 | Document creation time: 10/30/89
Jayark Corp. agreed to pay $4 million in cash, $2 million of 12% convertible debentures, and 1.6 million common shares to acquire closely held Kofcoh Imports Inc.
In over-the-counter trading Friday, Jayark was quoted at 87.5 cents bid, down 15.625 cents. At the market price, the transaction has a total indicated value of $7.4 million.
Kofcoh is a New York holding company for Rosalco Inc., which imports furniture and other items. David L. Koffman, president and chief executive officer of Jayark, holds about 40% of Kofcoh, Jayark said.
Jayark, New York, distributes and rents audio-visual equipment and prints promotional ads for retailers. In the quarter ended July 31, Jayark had an average of 5.6 million shares outstanding.
The transaction is subject to approval by a panel of disinterested directors, the company said, adding that shareholder approval isn't needed. | [
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NYT19980424.0421 | Document creation time: 04/24/1998 21:49:00
The New York Times said in an editorial on Saturday, April 25: The Supreme Court took a detour this week from the core principle of gender fairness it vindicated two years ago in its ruling invalidating the use of sexual stereotypes to justify denying women admission to the Virginia Military Institute. By a 6-3 vote, the court upheld a discriminatory immigration law that gives a child born overseas to an unmarried American woman a better chance at citizenship than a child born to an unmarried American man. Under the statute, a child born abroad to an unwed American mother is automatically considered a U.S. citizen. But the child of an unwed American father has no citizenship rights unless the father takes the affirmative step of acknowledging paternity and formally agrees to provide support until the child turns 18. The majority's views were expressed in three separate opinions, the most disquieting of which was written by a liberal member, Justice John Paul Stevens, and joined by a conservative, Chief Justice William Rehnquist. The opinion, which found the gender distinction reasonable, relied heavily on outmoded generalities about family roles, including the flawed presumption that mothers have a closer relationship to their children than fathers do. As Justice Stephen Breyer asked in a strong dissent, ``what sense does it make'' to apply citizenship barriers ``only to fathers and not to mothers in today's world _ where paternity can readily be proved and where women and men both are likely to earn a living in the workplace?''. Justices Sandra Day O'Connor and Anthony Kennedy seemed to agree that the law amounted to unconstitutional sex discrimination. Butinstead of providing the votes to strike it down, they chose to uphold it on the flimsy ground that because the sex of the parent and not the child made the difference under the law, the plaintiff did not have standing to bring the case. The Justice Department, which supported the statute, did not cover itself with glory either. The department retreated from its position in the VMI case when it argued that the government could not make policy based on stereotypes ``even when those stereotypes reflect current realities.'' As for the court, it managed with its splintered ruling to cast doubt both on the constitutionality of the immigration provisions it upheld and on its true commitment to fighting gender stereotypes. | [
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PRI19980306.2000.1675 | Document creation time: 19980306
For The World, this is Pamela McCall in the BBC news room in London. More heavy gunfire in the Serbian province of Kosovo. It's the second day of an offensive by the security forces against villages populated by ethnic Albanians. BBC correspondent Karyn Coleman reports from Kosovo.
There were more accounts of people fleeing from the villages near where the offensive was taking place. They were too afraid to stay, fearing the forces may also move their operations further afield. By mid afternoon, official Serb sources were saying the operation was over, but that has not yet been confirmed from Belgrade, the capital of Serbia, which is where the whole attack is thought to have been planned. The ethnic Albanians here in Kosovo are considerably worried about the future and fear they are witnessing the beginnings of a much wider conflict. Karyn Coleman, BBC news, Pristina. | [
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APW19980306.1001 | Document creation time: 03/06/1998 13:19:00
BAGHDAD, Iraq (AP)_ An American leader of a U.N. weapons inspection team resumed work in Iraq Friday, nearly two months after his team was effectively blocked. Scott Ritter led his team on a 10-hour tour of three suspected weapons sites classified as ``sensitive'' by the Iraqi authorities, U.N. spokesman Alan Dacey said. ``All sites were inspected to the satisfaction of the inspection team and with full cooperation of Iraqi authorities,'' Dacey said. At least one of the sensitive sites was a barracks of the elite Republican Guard, a well-placed source told The Associated Press. Previously the Iraqis have resisted attempts to inspect such quarters. The U.N. Security Council has charged the inspectors with verifying that Iraq has destroyed its long-range missiles and weapons of mass destruction. It was the first time that Ritter, who arrived Thursday with some 50 inspectors for a tour likely to last over a week, had been allowed to carry out an inspection since Jan. 13. Then the Baghdad government stopped providing Ritter's team with escorts, making it impossible for him to enter any site. Iraq alleged Ritter was an American spy whose team had a disproportionately high number of Americans and Britons. The official Iraqi News Agency, which gives the daily tally of inspections, did not mention Ritter by name, but said Friday that team no. 225 _ which Ritter heads _ made surprise visits to a number of sites and was assisted by aerial surveillance. Five other U.N. inspection teams visited a total of nine other sites, the agency reported. An Iraqi official, speaking on customary condition of anonymity, said Ritter would not try to visit any of the eight presidential sites that Baghdad had placed off-limits to U.N. weapons inspectors. The official said these sites could only be visited by a special team of U.N. monitors and diplomats as laid down by the Feb. 23 accord signed by U.N. Secretary-General Kofi Annan and Iraqi Deputy Prime Minister Tariq Aziz. Ritter's return is seen as something of a test of that agreement, under which Iraq agreed to give inspectors full access to eight of Saddam Hussein's presidential palaces. The United States had moved additional troops and a naval armada into the Gulf and said it would strike Iraq unless it gave the U.N. arms inspectors unfettered access to all potential weapons sites, including Saddam's palaces. Iraq had argued the presidential sites should be off limits as symbols of sovereignty. A Pentagon spokesman said Thursday that the 38,000 U.S. troops in the Gulf will remain until Iraq complies with the U.N. Security Council agreement over weapons inspections. ``We are going to maintain our forces in the region for the foreseeable future,'' said spokesman Kenneth Bacon. The U.N.-Iraq accord was worked out by U.N. Secretary-General Kofi Annan, who appointed a retired Indian diplomat on Thursday as his special representative to Iraq. Prakash Shah, 58, a former Indian ambassador to the United Nations, is part of an effort by Annan to expand contacts with the Iraqi leadership. Palace inspections are not expected to start until the new agreement's procedures are in place. U.N. officials in New York on Friday finished drafting the rules, in consultation with Iraqi diplomats. The procedures are due to go before the Security Council next week. The Security Council has said it will not lift the sweeping sanctions imposed on Iraq after its 1990 invasion of Kuwait until the U.N. inspectors certify that Baghdad has eliminated its weapons of mass destruction. | [
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APW19991024.0075 | Document creation time: 1999-10-24 20:00:09
BUFFALO, N.Y. (AP) --
About 500 people attended a Sunday night memorial service for the Buffalo-area physician who performed abortions, one year after he was killed by a sniper's bullet.
A nurse who was critically injured in the 1998 abortion clinic bombing in Birmingham, Ala., was among those who attended the interfaith ceremony at a Presbyterian church for Dr. Barnett Slepian.
Police kept watch outside and about 25 undercover police were scattered throughout the crowd.
``Security is tight,'' said Marilynn Buckham, of Buffalo Gyn Womanservices, a sponsor of the ceremony. ``But it's not tonight we're worried about. It's all of the other dark nights.''
A memorial service planned at the University of Rochester for Saturday was canceled after security plans were leaked.
Slepian was killed on Oct. 23, 1999 by a sniper hiding in his backyard. Earlier that day, the Slepian family sent a fax to local police explaining that abortion providers were warned that one of them might be targeted for assassination.
On May 6, James Kopp, 44, was charged with the slaying. Kopp remains at-large and police admit that despite a worldwide search and a $1 million reward, they don't know where he is.
``It's very frustrating knowing that he's out there,'' said Ms. Buckham. ``It's very scary.''
Sunday's yahrtzeit service ---- a Jewish ceremony that commemorates the dead with the lighting of a 24-hour candle ---- included the lighting of candles for the seven people killed and 12 people injured in abortion-related violence since 1993.
A tearful audience also listened to registered nurse Emily Lyons, who has undergone a number of operations since the Alabama clinic bombing and has permanently damaged eyesight. She spoke of Slepian and other abortion providers who have been killed.
``They paid an awful price for reproductive freedom and the women they served,'' she said. ``They risked their lives for that freedom.'' | [
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wsj_0026 | Document creation time: 11/02/89
The White House said President Bush has approved duty-free treatment for imports of certain types of watches that aren't produced in "significant quantities" in the U.S., the Virgin Islands and other U.S. possessions.
The action came in response to a petition filed by Timex Inc. for changes in the U.S. Generalized System of Preferences for imports from developing nations. Previously, watch imports were denied such duty-free treatment.
Timex had requested duty-free treatment for many types of watches, covered by 58 different U.S. tariff classifications. The White House said Mr. Bush decided to grant duty-free status for 18 categories, but turned down such treatment for other types of watches "because of the potential for material injury to watch producers located in the U.S. and the Virgin Islands."
Timex is a major U.S. producer and seller of watches, including low-priced battery-operated watches assembled in the Philippines and other developing nations covered by the U.S. tariff preferences.
U.S. trade officials said the Philippines and Thailand would be the main beneficiaries of the president's action.
Imports of the types of watches that now will be eligible for duty-free treatment totaled about $37.3 million in 1988, a relatively small share of the $1.5 billion in U.S. watch imports that year, according to an aide to U.S. Trade Representative Carla Hills. | [
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AP900816-0139 | Document creation time: 08-16-90 2041EDT
The Persian Gulf showdown between Iraq and the United States took a more personal turn Thursday when Iraq's Saddam Hussein called President Bush a liar and said the outbreak of holy war could bring thousands of Americans home in coffins. Bush, commenting on the two-week gulf crisis from his vacation home in Maine, said he saw little reason to be optimistic about a settlement of the dispute, which stems from Iraq's invasion of oil-wealthy Kuwait and its subsequent military buildup on the border of Saudi Arabia. After a two-hour meeting at his Kennebunkport home with King Hussein of Jordan, Bush said, ``I did not come away with any feeling of hope'' that Iraq would withdraw its army from Kuwait. Bush also said Thursday that King Hussein assured him Jordan would close the last remaining free port to most Iraqi trade as the economic embargo on materials to Iraq continued unabated. Foodstuffs are among the goods being blocked from entry; Iraq imports about three-quarters of its food. Pentagon sources in Washington meanwhile said the Bush administration plans to deploy 45,000 Marines to the region to back up the thousands of Army, Navy and Air Force troops already in place in the gulf and the Saudi desert. At a news conference, Secretary of State James A. Baker III said Jordan `` is seeking some guidance'' about a provision in the U.N.-backed trade embargo that allows food for humanitarian purposes. Worries however grew about the safety of Americans and other Westerners trapped in Kuwait. Iraqi military authorities ordered all Americans and Britons in Kuwait to assemble at a hotel, officials said. ``Very few'' of the 2,500 Americans in occupied Kuwait complied with the order, a senior U.S. official told The Associated Press. Iraq said the roundup was to protect them from unspecified threats; British Foreign Office minister William Waldegrave called the order ``grave and sinister.'' ``What we fear is that they will be interned somewhere, most likely in Iraq,'' Waldegrave said. A total of about 3,000 Americans, 3,000 Britons and more than 450 Japanese are in Iraq and Kuwait. Overall, more than 2 million foreigners are in both countries. Iraq has called them ``restrictees.'' In addition to the estimated 45,000 Marines to ultimately be part of Operation Desert Shield, Stealth fighter planes and the aircraft carrier John F. Kennedy are also headed to Saudi Arabia to protect it from Iraqi expansionism. In Washington, Pentagon spokesman Pete Williams said Iraq has continued to increase its armed forces in Kuwait and they now number about 160,000. Saddam has been under international quarantine since his Aug. 2 power-grab, or what he calls an ``eternal merger'' with Kuwait. In a long verbal attack read on Iraqi television Thursday, Saddam repeatedly called Bush ``a liar'' and said a shooting war could produce body bags courtesy of Baghdad. ``We continue to pray and pray hard to God so that there will be no confrontation whereby you will receive thousands of Americans wrapped in sad coffins after you had pushed them into a dark tunnel,'' Saddam said. He called U.S. soldiers massing in Saudi Arabia the real occupiers in the Persian Gulf. Replied State Department deputy spokesman Richard Boucher, ``We haven't really analyzed the statement in detail but it appears to be just another example of his outlandish rhetoric and his attempts to distort the truth. ``We believe that his words cannot distract the world from the facts of Iraqi aggression.'' An international land, sea and air force has mobilized since Iraq's invasion, which was sparked by disputes over oil, land and repayment of war loans. In the largest U.S. military operation since Vietnam, an estimated 20,000 American GIs have already massed to defend Saudi Arabia. ``We don't just arrive,'' said four-star Gen. John Dailey, assistant commandant of the U.S. Marine Corps. ``We're there to stay for a fairly lengthy period.'' Egypt, Syria, Morocco and Bangladesh also committed ground troops, to a much lesser degree. The U.S. Navy has 27 ships in the maritime barricade of Iraq. They are aided by Britain, West Germany, Australia, Canada, the Netherlands and Belgium. Bush was expected to authorize naval commanders to use ``the minimum force necessary'' to interdict shipments to and from Iraq, a U.S. official said. That could include firing across the bow to halt a ship. In the air, U.S. Air Force fliers say they have engaged in ``a little cat and mouse'' with Iraqi warplanes, which have retreated when weapons radar locks onto them. ``They don't want to play with us,'' one U.S. crew chief said. In Kuwait, the Iraqis have rimmed the capital city with an air-defense system, according to a U.S. official who spoke on the condition of anonymity. He declined to say if the weapons included missiles, but the Iraqis have them in their arsenal. The Iraqis also possess chemical weapons. The combined operations are designed to isolate and strangle Iraq until it retreats from Kuwait. The quarantine hopes to staunch the flow of Iraqi oil, which is Iraq's economic lifeblood, and clamp down on food and supplies going in. Iraq now controls 20 percent of the world's oil reserves with its conquest of Kuwait. Only Saudi Arabia has more oil reserves. The economic chokehold appears to be working. The Lloyd's List International newspaper, which monitors worldwide shipping, said Iraq's fleet of 80 tankers and cargo ships has stopped regular trading. John Prescott, a shipping correspondent, said there was no shipping in Kuwaiti or Iraqi ports and that activity was trailing off in the Jordanian port of Aqaba. Bush's chief objective in his meeting with Hussein was to press the king to shut down Iraq's food and oil supply route from Aqaba on the Red Sea. Aqaba is Iraq's only outlet now that an international noose has tightened. Bush has indicated the U.S. Navy will barricade the port from Iraqi ships. The president also has offered to help offset Jordan's costs because 40 percent of its exports go to Iraq and 90 percent of its oil comes from there. ``It's our only outlet to the sea and the rest of the world,'' Hussein said. He also said of trade with Iraq: ``There are no shipments at the moment.'' A day earlier, scores of trucks, many with Iraqi license plates, streamed north out of Aqaba to Amman and onto the desert highway bound for Iraq. The Jordanian monarch met this week with Saddam, but he told reporters he had no message from Baghdad. ``I am not talking on behalf of anyone in the area... but myself,'' Hussein said. In the United Nations, Libya called for the replacement of U.S. forces in the Persian Gulf with Arab League forces and U.N. soldiers. Libyan leader Moammar Gadhafi, in a letter to the U.N. Secretary-General, also called for an emergency Security Council meeting in Geneva to remove U.S. forces. There was no decision on a meeting. Thirty-two of the 159 U.N. members had filed compliance reports by Wednesday, and all were honoring the sanctions Iraq. Also Thursday, Saudi Arabia called for an emergency conference of the Organization of Petroleum Exporting Countries to discuss how much oil to pump. The minister denied the kingdom had notified notified any of its customers of any cutbacks in oil supply. Reports attributed to the Japanese foreign ministry said Saudi Arabia told U.S., European and Japanese oil companies of a 15-20 percent cutback in its oil supply in September. Meanwhile, Egypt's official Middle East News Agency said Thursday that Saddam was the target of an assassination attempt, which led to ``large-scale'' arrests, including some close associates of the Iraqi strongman. The agency quoted witnesses as saying tanks and armored cars are patrolling the streets of Baghdad. There was no independent confirmation of the report by the government-run news agency, which did not say when the reported attempt occurred. | [
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NYT20000601.0442 | Document creation time: 2000-06-01
(Undated)
Elian Gonzalez will remain in the United States for at least two more weeks even after a federal appeals court Thursday refused to order a political asylum hearing for the fought-over Cuban child.
Elian could be forced to stay longer if the Miami relatives who are seeking asylum for the child over his Cuban father's objections pursue further appeals. Attorney Kendall Coffey said his clients were giving an appeal to the Supreme Court ``serious consideration.''
The Miami relatives could also request a rehearing before the same three-judge panel that issued Thursday's ruling, or before the entire 11th U.S. Circuit Court of Appeal. But Thursday's decision made it clear the family has only 14 days to decide whether to request a rehearing at that level. &UR;
&LR; ``Expect no extensions,'' the court instructed.
The ruling follows six months of international family infighting, political recriminations and wide-spread protests in both Miami and Cuba over the fate of the 6-year-old boy.
His mother died trying to smuggle Elian out of Cuba, and it has been difficult for family members, Miami community leaders and many politicians to separate attitudes about Cuban leader Fidel Castro from the legal issues involved.
The appellate ruling made it clear the court takes no joy in lifting an obstacle to Elian's return to Cuba.
``We acknowledge, as a widely accepted truth, that Cuba does violate human rights and fundamental freedoms and does not guarantee the rule of law to people living in Cuba,'' wrote Judge J.L. Edmonson, on behalf of the panel.
But the Immigration and Naturalization Service's decision to deny Elian an asylum hearing was ``within the outside border of reasonable choices,'' the opinion read. ``The court neither approves nor disapproves the INS' decision to reject the asylum applications filed on plaintiff's behalf, but the INS decision did not contradict (federal law.)''
The judges denied, however, a request by Elian's father to name him instead of great-uncle Lazaro Gonzalez as Elian's representative in the continued court proceedings. Making Juan Miguel Gonzalez his son's legal representative would have allowed him to simply drop the asylum request and head for home.
Elian's great-uncle vowed to continue the battle, and said the Miami relatives might sue for visitation while the child is in the United States.
``We will keep fighting with the laws ... so Elian Gonzalez can live in a free country like his mother wanted,'' Lazaro Gonzalez said.
President Clinton and Attorney General Janet Reno praised the ruling, with both stressing their confidence that Juan Miguel Gonzalez is the best person to raise his child. &UR;
&LR; ``As I've said before, this is a case about the importance of family and the bond between a father and son,'' Clinton said in a written statement issued from Berlin.
Elian's father asked his Miami relatives to end their court battle after Thursday's ruling and allow him to finally return home with his son.
``A child should simply be with his parents, always his parents,'' the elder Gonzalez said through an interpreter. Switching to English, he said, ``I want to thank the American people. Thank you.''
Elian was rescued off the coast of Florida by two American fishermen last November after the boat he was in capsized. Elian's mother and 10 others died, but the boy survived by clinging to an inner tube.
Elian's Miami relatives took in the child, but then refused to return him to his surviving father in Cuba, citing the harshness of the Castro regime.
The Miami relatives applied for political asylum on Elian's behalf, saying the child did not want to return to Cuba. INS agents traveled to Cuba to interview the child's father before the INS rejected the application for asylum, saying the child's father was the only person authorized to represent him. A district court judge upheld the federal agency.
The Miami relatives appealed that decision, and obtained an injunction requiring Elian to remain in the United States until the asylum question worked its way through the courts. Juan Miguel Gonzalez arrived in the United States April 2, and Reno ordered the Miami relatives to surrender the child to his father.
The family refused, and federal agents took the child by force in a pre-dawn raid on the Miami relatives' home on April 22.
The father and his son lived for a month on a large, private estate in Maryland, but have recently moved to an affluent neighborhood in Washington, D.C., to wait out the rest of their time in the United States.
Shortly after the appellate panel released its decision, attorney Coffey filed an emergency request to Supreme Court Justice Anthony M. Kennedy (who has jurisdiction over such matters from Florida) requesting assurance that Elian will remain in the United States until the full Supreme Court can consider a formal appeal.
But Reno said the request to Kennedy serves no purpose since the injunction blocking Elian's return to Cuba still applies. If the family fails to file an appeal within 14 days, she said, the soonest Elian would be free to leave the country would be seven days later.
However, Justice Department officials said the appellate court could decide to waive the extra seven-day period.
Protesters were beginning to gather outside the Miami relatives' home even before the ruling was issued. They yelled and wept when the decision was announced.
In a statement read on Cuban television, Castro's government expressed its displeasure at still another delay in Elian's return. The government called the 14-day waiting period ``another concession to the `mafia' _ a disparaging term the government frequently uses to describe Miami's exile Cuban community.
Jose Basulto, founder of Brothers to the Rescue, a Cuban exile group that frequently rescues Cuban refugees from the Straits of Florida, called the latest ruling ``outrageous.''
``The saga of Elian Gonzalez is a turning point in relations in the Cuban community and the United States,'' Basulto said. ``This day, in the history of their relations with the United States, will be remembered in the Cuban community in the same way the Bay of Pigs is remembered.''
Cuban exiles failed to overthrow Castro in 1961 when the communist leader repelled their invasion at the Bay of Pigs. | [
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APW20000216.0272 | Document creation time: 2000-02-16
HAVANA (AP) --
Elian Gonzalez's father said in a letter published Wednesday that he wants Cuban diplomats based in Washington to meet with his 6-year-old son in Miami and check on his condition.
``We are worried not only about his prolonged kidnapping,'' Juan Miguel Gonzalez wrote in a letter published on the front page of the Communist Party daily Granma. ``We lack direct information about the concrete conditions to which he is subjected in his daily life.''
There was no immediate response from the U.S. government to the request. It was likely to be opposed by Elian's Miami relatives, who are fighting to keep the boy in the United States and who have said they think Gonzalez is being controlled by Fidel Castro's government.
Hundreds of former fighters in the revolution that brought Castro to power 42 years ago gathered Wednesday night to denounce the Miami ``worms'' who support Elian's being kept in the United States.
With Castro and other historic revolutionary leaders sitting in the front row of Havana's Conventions Palace, a string of former guerrillas called for the return of ``our Elian'' to his father on the communist island.
Gonzalez had written a letter earlier this week to Attorney General Janet Reno, demanding Elian be returned to him and saying he did not recognize the courts hearing the custody battle. The Justice Department said it was reviewing that letter.
Gonzalez's second letter to Reno in two weeks was published in Granma on Tuesday.
``I formally object to the legal moves made or being made by those who are arbitrarily retaining Elian,'' Gonzalez said in the letter, dated Monday.
In the letter, Gonzalez said he does not recognize the jurisdiction of the U.S. court system, which is weighing an attempt by Elian's Miami relatives to block his return to Cuba.
Elian has been the focus of an international custody battle since he was found on an inner tube off the Florida coast on Nov. 25. The boy's mother and 10 other people died when their boat sank on the way from Cuba to the United States.
Elian is staying with his paternal great-uncle Lazaro Gonzalez, who is fighting to keep the boy with him in the United States. Cuban exiles in Miami say the boy's mother died to give him freedom in the United States, while the Cuban government maintains Elian is being improperly kept from his father.
``Juan Miguel must not have written the letter himself,'' said Armando Gutierrez, spokesman for Elian's relatives in Miami. ``Castro must be dreaming for the family to allow Cuban spies inside Lazaro Gonzalez's home.''
Lawyers for the relatives in Miami filed a brief in federal court on Monday arguing the Immigration and Naturalization Service cannot return Elian to Cuba without holding a political asylum hearing.
U.S. government lawyers have moved to dismiss the Miami relatives' lawsuit, arguing that they have no legal standing in the boy's case. The INS ruled last month that only Elian's father has the right to speak for the boy in immigration matters. | [
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