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Organization: American Cybercasting
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Date: Thu, 12 Nov 92 04:42:06 EST
Message-ID: <30.1992Nov12.044207@AmeriCast.com>



 Zenith Electronics, the last large U.S.-based television maker,
warned of potentially "serious liquidity problems" that will re-
quire it to renegotiate its bank credit agreement. In a filing
with the SEC, Zenith said it is talking with Bank of New York Co.
about relaxing a credit pact requirement that it maintain a net
worth of $229 million at the end of every quarter.<An IBM share-
holder group is submitting several proxy proposals to the comput-
er giant, calling on the company's independent directors to take
steps to revive the firm. The group said one proposal - to be
submitted for a vote at IBM's annual meeting next April - calls
for creating a committee of independent directors to evaluate the
company's leadership and strategic direction.<Sharon Steel of
Farrell, Pa., laid off its remaining 500 unionized employees and
its health insurance was canceled for nonpayment, a local union
official said. The steel company has only about 100 employees
left, union officials said. In May, Sharon employed about 2,700
people. Sharon officials were not available to comment.<02:26
11-12C9999-----

Copyright 1992, The Washington Post.  This story is from the
Washington Post's Capitol Edition On-Line and is not to be ar-
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