Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.law From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: law Fri, Jul 24 1992 Date: Fri, 24 Jul 92 04:47:16 EDT Message-ID: 07-24 0000 DECISIONLINE: Business Law USA TODAY Update July 24-26, 1992 Source: USA TODAY:Gannett National Information Network ASBESTOS PLAINTIFFS GET $11.2M: A Baltimore jury Thursday awarded $11.2 million to three plaintiffs in compensation for injuries and deaths tied to asbestos exposure. The damage awards were the first since the jury's sweeping verdict Monday against six companies who were found to be liable for manufacturing asbestos-laden products known to be potentially harmful to 8,555 former steel and shipyard workers. COURT DELIBERATES TWO DAYS: The Baltimore Circuit Court jury deliberated in an asbestos trial for 13 hours over two days before returning the verdicts Thursday against AC&S Inc., Pittsburgh Corning Corp., Porter Hayden Co., GAF Corp., Keene Corp. and MCIC Inc. The jury awarded no damages to three additional plaintiffs, whose injuries were found to be unrelated to their asbestos exposure. JUDGE RULES ON TRASH: A judge gave TENNSV, Inc. - responsible for the "P.U. Choo Choo" train that toured the Midwest for three weeks - until July 31 to finish unloading a second train of New York trash parked in Sauget, Ill., since June 25. Illinois wants $350,000 in fines against TENNSV, Conrail and the railyard owner. Also, 19 trash-filled rail cars parked near Midland, Ky., headed back to New York. FANNIE MAE TO OFFER MORTGAGES: The Federal National Mortgage Association, which finances one in seven mortgages in the USA, said Thursday it will do more to assist Hispanic-Americans who want to own their own home. Fannie Mae says it will invest $20 million in a pilot program to offer mortgages within six months to Hispanic families in four cities. Los Angeles and Phoenix have been chosen. The others will be named later. VAUGHAN FAMILY FILES SUIT: The family of Stevie Ray Vaughan filed a suit Wednesday in Chicago against the company that owned the helicopter in which the blues guitarist died. Vaughan and four others were killed following a concert in East Troy, Wis., in August 1990, when the helicopter crashed into a ski hill. The suit alleged that Omniflight Helicopters Inc. should have recognized unsafe flying conditions. PESTICIDES HURTING ENVIRONMENT: A House Government Operations subcommittee was told Thursday that pesticides are still a danger the environment. Although the Environmental Protection Agency has made some progress in removing such widely used chemicals such as DDT, it has been unable to review the safety of more than a handful of the hundreds of chemicals routinely used around the home. CONGRESS DIVIDED OVER TUNA: Pressure to reduce dolphin kills in Eastern Pacific tuna nets has sharply reduced the number of deaths, but Congress is divided over whether to take the additional step of slapping embargoes on countries that don't meet American mortality standards. Sen. John Kerry, D-Mass., opened a Commerce Committee hearing Thursday on two opposing bills designed to reduce dolphin kills in the region. KERRY PROPOSES BILL: Sen. John Kerry, D-Mass., introduced legislation Wednesday to encourage foreign nations to enter into a five-year moratorium, beginning March 1994, on fishing for stocks of tuna that swim with dolphins. Sen. John Breaux, D-La., has introduced a dolphin protection bill that calls for reduced kills but without the trade sanctions and moratorium. DETROIT EDISON TO MAKE OFFER: Detroit Edison Co. said Thursday it will institute portions of its most recent offer to union workers if the parties can't reach an agreement by Aug. 2, Bloomberg Business News said. The utility and officials of Local 223 of the Utility Workers Union of America are scheduled to meet with federal mediators July 29. About 2,900 employees have been working under a contract that expired June 1. U.S. FIRMS HURT IN EXPORTS: A study by the Economic Strategy Institute found American firms, especially small businesses that want to export goods abroad, are finding it difficult because U.S. banks are reluctant to offer financing and few government incentives are available. U.S. banks are reducing export-related loans and are avoiding risky financial endeavors, the study found. ADOPTION AGENCIES SUED: Prospective adoptive parents, who lost between $20,000 and $30,000 each when three affiliated for-profit adoption agencies went broke, filed suit Thursday in Pima County, Ariz., against agency founder James Medlock, the agencies, affiliated service organizations and its lawyers. The suit names Southwest Adoption, Adoption Center of Washington and Adoptions of New England Inc. DOT APPROVES AIRPORT PLAN: The Department of Transportation approved a passenger-fee plan for the major airports in the New York City area, Bloomberg Business News reports. Of $282 million expected from the plan, $261 million will be used by the Port Authority of New York and New Jersey for building roadway overpasses at La Guardia and Newark airports and people-mover systems at Newark and John F. Kennedy. OVERSEAS ACCESS CONSIDERED: Sen. Arlen Specter, R-Pa., introduced legislation Thursday to provide U.S. producers with a level playing field. His bill is designed to improve U.S. access to overseas markets and to sharpen enforcement mechanisms to deter unfair trade practices, such as subsidies and dumping. Specter said that the direct consequence of unfair trade practices is the loss of American jobs. CV REIT PLAN APPROVED: The U.S. Bankruptcy Court approved Thursday the previously announced proposal of CV Reit, Inc. to acquire Century Village at Pembroke Pinesand other assets from subsidiaries of Cenvill Development Corp. CV Reit, a real estate trust, agreed to continue to provide Debtor in Possession financing in the interim period before the final transaction. STUARTS REORGANIZING: Stuarts Department Stores, Inc. and its wholly owned subsidiary, S.D.S., Inc. announced Thursday that the company and the creditors' committee have filed a plan of reorganization and disclosure statement with the U.S. bankruptcy court for the District of Massachusetts. The company filed voluntary petitions for reorganization under Chapter 11 protection in December 1990. Business Law Editor: Kate Coughlin. (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