Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.law,americast.usa-today.law From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: law Mon, Oct 12 1992 Date: Mon, 12 Oct 92 04:44:58 EDT Message-ID: 10-12 0000 DECISIONLINE: Business Law USA TODAY Update Oct. 12, 1992 Source: USA TODAY:Gannett National Information Network CHINA, USA FINALIZE TRADE DEAL: China and the USA have finalized an agreement to open China's markets to foreign goods, giving U.S. companies access to the huge Chinese market. U.S. Trade Representative Carla Hills warned in August the USA would impose tariffs of up to 100% on $3.9 billion worth of Chinese goods sold in the USA if China didn't move to open its markets by last Saturday's deadline. SOME BARRIERS ARE PHASED OUT: The trade pact agreed to between China and the United States means China will phase out some barriers over five years. China will get rid of various licensing and import restrictions that until now had blocked the sales of American-made products. China had reacted to U.S. warnings of higher tariffs by threatening to retaliate with higher tariffs on $4 billion in U.S. products. USAIR BACK TO FULL SERVICE: USAir is expected to return to full service Monday after striking machinists approved a contract proposal, reluctantly agreeing to make wage concessions in return for job security. The agreement, approved late Saturday, includes a one-year pay cut of 3.5% and a promise by the airline not to hire non-union workers to handle baggage and de-ice planes. GM, UAW REACH AGREEMENT: GM and the United Auto Workers union reached an agreement late Friday to avoid a strike, set for Wednesday at a parts plant, that could have crippled GM's car and truck production. The Anderson, Ind., plant supplies exterior lighting and bumpers. As part of the settlement, GM agreed to save at least 250 jobs at the plant that would have been lost if GM sent manufacturing to outside suppliers. LOOPHOLES ALLOW FOR CHARGES: A Florida grand jury investigating Southern Bell Telephone & Telegraph Co. said Friday that loopholes in the state's laws let utilities bill customers for optional services without asking them first. The jury recommended that the Florida Public Service Commission or the Florida Legislature make utilities obey the same consumer protection requirements as other companies must. JURY URGES WRITTEN APPROVAL: A Florida grand jury Friday said that utilities should have to get written approval from customers before charging them for optional programs. The jury is investigating Southern Bell Telephone & Telegraph. Southern Bell has acknowledged adding charges to phone bills without consent and has agreed to pay $16.6 million in a settlement, most of which will go to customers. LEGISLATION MAKES PIRACY FELONY: Nintendo of America Inc. praised Congress for passing legislation that would make software piracy and other copyright infringements felonies. The bill has been sent to President Bush. Under the measure, anyone who willfully infringes 10 or more copyrights within six months and reproduces or distributes copies worth $2,500 faces $250,000 fines and five years in prison. MICRO CAN'T USE INTEL SOFTWARE: A federal judge Friday reversed a motion by Advanced Micro Devices Inc. Micro had sought to reverse a verdict that it can't use Intel Corp. software in one of its coprocessors (support chips). That means that for the moment - and perhaps permanently - Micro is not allowed to use Intel software in the chips. The judge has denied retrial in the case. Not all Micro chips were included. MAXUS, KIDDER ARE SET FOR COURT: Maxus Energy Corp. and Kidder, Peabody & Co. ended a week of pretrial hearings with plans to face each other this week in court over a $2.75 billion insider trading case. A victory for Maxus would strengthen its balance sheet, finance overseas drilling programs and make the company profitable for the first time since 1984. The dispute centers on a 1983 takeover. HOUSTON UTILITY RULING UPHELD: A Texas appeals court Friday upheld a trial court ruling in favor of Houston Lighting & Power Company and Houston Industries Inc. over the city of Austin in a suit the city brought. The ruling overruled all of Austin's points of error in its appeal. The city is a partner in the South Texas power plant. HL&P is a partner and project manager. At issue: HL&P performance as manager. HOUSING BILL TO BE SIGNED: President Bush is expected to sign a housing bill that contains provisions to regulate Federal Home Loan Mortgage Corp. and Federal National Mortgage association, banking analysts said Friday. The housing bill also approves existing federal housing programs at $24.3 billion in fiscal year 1993 and $25.4 billion for fiscal year 1994, and regulatory relief of the banking industry is provided. CIRCLE K FILES ANOTHER PLAN: Circle K Corp. Friday filed an amended bankruptcy reorganization plan that would cancel the company's common stock plan. Under the proposal, equity and bondholders would receive nothing. An alternative plan also was filed Friday by Commonwealth Oil Refining Inc. and a proposal by bondholders will be filed soon. Circle K's plan involved a $399.5 million buyout by CK Acquisitions Corp. BRITISH STEEL DUMPING FOUND: The Commerce Department Friday found in a preliminary study that new steel rail from the United Kingdom is being "dumped" on the U.S. market at less than fair value, reports Bloomberg Business News. The investigations began in May at the request of Bethlehem Steel Corp. and CF&I Steel Corp. The department says British Steel Plc and other companies are selling at 71.84% below market value. Business Law Editor: Beth Mann. (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