Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.law From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: law Thu, Mar 5 1992 Date: Thu, 5 Mar 92 05:55:52 EST Message-ID: 03-05 0000 DECISIONLINE: Business Law USA TODAY Update March 5, 1992 Source: USA TODAY:Gannett National Information Network GEPHARDT CALLS FOR CALM: The House Energy and Commerce Committee begins work Thursday on a bill that could cut Japanese auto sales in the U.S. by 25% over the next five years, amid a call for calm by the measure's sponsor. Rep. Richard Gephardt, D-Mo., troubled by recent bashing by both countries, is appealing for calm in U.S.-Japan relations. Gephardt says, "This is dangerous and detrimental ... to the world." BILL WOULD LIMIT SALES: Under a measure to be taken up Thursday by Congress, sales of Japanese cars in the USA could be cut substantially. Under the bill: U.S. sales of Japanese cars - 3.8 million last year - will be cut to 2.6 million in 1998 unless Japan eliminates its $40 billion trade surplus with the USA; and Japanese car companies must step up purchases of parts from U.S.-based suppliers without ties to Japan. TRAWLERS CONFISCATED: State and federal agents in Alaska Wednesday continued confiscating cod trawlers accused of illegally fishing in coastal waters from Mitrofania Island to Unalaska Island. Forty trawlers are suspected; 20 have been seized. Agents say trawlers are running nets too deep, dipping into delicate cod, halibut and crab spawning grounds. MORE PROTECTION FOR OWLS: A federal appeals court in San Francisco gave further protection to rare spotted owls that live in the Northwest's old-growth forests Wednesday. The court, which last month halted logging operations in owl habitat, issued a new ruling that blocks the U.S. Bureau of Land Management from future timber sales until an owl-protection plan is approved. UPI MAY CLOSE IN APRIL: United Press International may close by April, Bankruptcy Court Judge Francis Conrad said Wednesday. UPI, in Chapter 11 bankruptcy reorganization since Aug. 28, is losing about $100,000 a month. It has assets of $5 million to $15 million and liabilities of $60 million. SESSIONS ISSUES WARNING: FBI Chief William Sessions issued a warning Wednesday on the Michelangelo computer virus, which is supposed to strike Friday, saying the destruction of data in government computers or networks used by financial firms is a federal crime. Sessions urged people with information on the virus to contact an FBI office. The virus overwrites a PC's hard disk memory. QUAKER STATE MUST PULL ADS: A federal judge has ordered Quaker State to stop broadcasting a commercial that claims its 10W-30 motor oil protects better against start-up engine wear. Evidence introduced at a hearing indicated that Quaker State ignored test results provided by its own supplier. U.S. District Judge Charles S. Haight, Jr. ruled the tests contradict claims made in the Quaker State commercial. WITTER CHARGED WITH LAUNDERING: David Witter, owner of investment firm Huntington Witter & Co., and grandson of brokerage founder Dean Witter, has been charged with moving $113,000 overseas and trying to launder $1 million through a pawn shop. A prosecutor said at one point he offered to launder as much as $10 million for undercover agents posing as drug dealers. Arraignment was set for March 13. LAWYERS UNHAPPY: A poll by California Lawyer magazine shows widespread unhappiness among lawyers. More than half the 449 lawyers responding to a fax poll by the magazine said they were either "so unhappy I'd change careers," or "unhappy, but unlikely to do anything about it." Also, 81% agreed that "hardball tactics and uncivil behavior" is on the increase in their profession. AIRLINE BILL INTRODUCED: Sen. John McCain, R-Ariz., Wednesday introduced a bill in the Senate aimed at increasing competition in the U.S. airline industry as a way to avoid increased costs to consumers. The bill would require airline reservation systems to serve all airlines equally and add flights at four airports in New York, Chicago and Washington where landings and takeoffs are restricted by the FAA. GEO ANNOUNCES SETTLEMENT: A settlement was announced Wednesday under a 1980 tax sharing agreement between GEO International and Peabody International Corp., GEO's former parent company. Under the settlement, Peabody has agreed to return to GEO the 250,000 shares of GEO's Series A Preferred Stock owned by Peabody and to release GEO from its obligation to pay Peabody $1.35 million in accrued dividends. PRE-TRIAL SCHEDULE SET: The U.S. District Court in New York has set the pre-trial schedule in a lawsuit brought by Hilton International seeking an injunction against Hilton Hotels Corp.'s use of the name "Conrad" for hotels outside of the USA. The court ordered that discovery be completed by Oct. 31, 1992, and a joint pre-trial order to be submitted by mid-December, with a trial expected in early 1993. Business Law Editor: Jason P. Smith. (919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM