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, Apr 9 1992 Date: Thu, 9 Apr 92 05:44:24 EDT Message-ID: 04-09 0000 DECISIONLINE: Business Law USA TODAY Update April 9, 1992 Source: USA TODAY:Gannett National Information Network EXECS QUESTIONED ABOUT STRIKE: Caterpillar Inc. stockholders and United Auto Workers union officials made things uncomfortable for executives at the heavy equipment maker's annual meeting Wednesday in Wilmington, Del. Caterpillar executives spent most of the meeting defending their handling of a five-month strike by more than 12,000 workers at Caterpillar plants in Illinois. APPLICATIONS FLOOD CATERPILLAR: Caterpillar Inc. Chairman Donald Fites said Wednesday that the company received 47,000 applications on the first day it advertised for people to fill the jobs of 12,600 striking workers. Also, Democratic presidential candidate Bill Clinton joined picketing workers Wednesday and met with company officials. He said he stressed to them that they should not fire strikers. SUBCOMMITTEE PASSES CABLE BILL: Most cable television systems would have a harder time increasing rates and fees for remote controls and converter boxes under legislation a House panel approved Wednesday. The House subcommittee that oversees cable television voted 17-7 to send the measure to the full House Energy and Commerce Committee. The Senate has approved a similar bill. MARTIN REJECTS BENEFITS MEASURE: Labor Secretary Lynn Martin Wednesday rejected a measure proposed last week by Rep. Thomas Downey, D-N.Y., to provide up to 20 weeks of extra benefits to the USA's 1.5 million jobless. Martin said the measure would make permanent changes in the benefits program and require a tax increase. Martin also said President Bush wants to extend emergency benefits through 1992. RTC TO HOLD LARGEST AUCTION: The largest loan auction held by the Resolution Trust Corp. takes place Thursday. The RTC, created to clean up the savings and loan crisis, will sell about $200 million in loans from failed S&Ls. Since its first loan auction last June, the RTC has sold about $200 million in loans. ANTI-DRILLING LANGUAGE ACCEPTED: Florida lawmakers Wednesday succeeded in getting a guarantee that language banning offshore oil and natural gas drilling through 2000 will be offered as an amendment to an energy bill. Language banning the opening of new drilling areas off the Florida coast was accepted by the Merchant Marine and Fisheries Committee as part of an amendment package to be offered as part of an energy bill. BIDS INCREASE FOR LTV BUSINESS: During a bankruptcy court auction Wednesday, bids were increased for LTV Corp.'s missile and aircraft business. Lockheed Corp. and Martin Marietta Corp. raised their offer for the LTV Defense and Aerospace group by $20 million to $375 million. Thomson CSF of France raised its bid by $25 million to $425 million. Thomson is joined in its bid by Carlyle Group, a Washington investment firm. SUIT GOES BACK TO COURT: Canguard Health Technologies Inc. announced Wednesday that a lawsuit with Deprenyl Research Ltd. returns to court April 30, with a two-day hearing scheduled. The Deprenyl Group has accused the Canguard Group of infringing a process patent for making selegiline hydrochloride (L-deprenyl hydrochloride), the active ingredient in the Deprenyl Group's ELDEPRYL and the Canguard Group's PARKINYL. REQUEST TO HALT ADS DENIED: New Jersey Federal District Court Judge Alfred M. Wolin Wednesday denied a request by Castrol Inc. to have Penzoil Co.'s advertising campaign halted. Wolin has set a trial date of April 22 to hear a suit by Castrol, claiming that Penzoil makes false claims in its ads for motor oil. The challenged advertisements claim that Pennzoil motor oils provide better protection than the competition. MCFARLANE SUES ESQUIRE: Former national security adviser Robert C. McFarlane has filed a $30 million defamation suit in Washington, D.C., federal court against Esquire magazine. McFarlane says claims in the article made him out to be an Israeli spy, reports the National Law Journal. FINAL FORD SUIT SETTLED: In Louisville, Ky., an out-of-court, settlement has been reached in the final lawsuit stemming from the USA's worst drunken driving crash, both sides confirmed Wednesday. Two couples had sued Ford Motor Co. for $20 billion, contending the fuel system on a 1977 school bus was defective and responsible for 27 deaths in a 1988 crash. The settlement amount was not released. ENSTAR AWARDED ALMOST $20M: Bankrupt Enstar Group in Montgomery, Ala., was awarded nearly $20 million Wednesday in a lawsuit against ex-chairman Richard Grassgreen. Grassgreen was accused in the suit of defrauding company. 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