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 Wed, Jun 17 1992
Date: Wed, 17 Jun 92 05:19:38 EDT
Message-ID: <ns.law.1992Jun17.051939@AmeriCast.com>

06-17 0000
DECISIONLINE: Business Law
USA TODAY Update
June 17, 1992
Source: USA TODAY:Gannett National Information Network
    
STRIKER BILL FALLS SHORT:
   The Senate Tuesday fell three votes short of the 60 needed to 
move ahead on legislation prohibiting the permanent replacement of 
strikers, effectively killing the issue for another year. The vote 
was 57-42. The Senate came up short Thursday in a motion to limit 
debate on the same issue 55-41. The House passed similar 
legislation last July, which President Bush threatened to veto.
    
BACKERS WILL TRY AGAIN:
   Following the defeat Tuesday in the Senate of a bill 
prohibiting the permanent replacement of strikers, pro-labor 
backers vowed to try again. But the business-led opposition 
expressed doubt they could muster enough support during a 
presidential election year. "They may well put a new bill in, but 
something has to change," said Dan Yager, attorney for 
pro-business Labor Policy Association.
    
CHARNEY GETS PARTNERS:
   Real-easte developer Leon Charney says he has been overwhelmed 
by people who want to join the partnership that he heads which is 
considering buying UPI. Broadcasters Jerry Lamprecht, a former 
vice president for NBC News, and John Steele, a former producer 
for "Sunday Today," have joined Charney. He is reviewing financial 
documents of UPI, which is in Chapter 11 bankruptcy 
reorganization.
    
SEIZURE CHALLENGED:
   The seizure by FBI agents of more than 155 adult magazines from 
a Virginia adult bookstore prompted store owner Kathleen Eckstein 
to go to court Tuesday to challenge the move. She asked for a 
court order to get the magazines back - and to get guidance about 
what is and is not obscene. Experts say the seizure could be the 
start of a new campaign by the Justice Department against 
obscenity.
    
IMMIGRANTS ARE FRAUD TARGETS:
   Asian and Hispanic immigrants are targets of phone fraud, 
according to a poll released Tuesday by Sprint and the U.S. Office 
of Consumer Affairs. The poll found that about 14% of Asian and 
Hispanic immigrants have been victims of fraud. Social service 
agencies will distribute brochures on preventing phone fraud in 
the next few weeks in cities with large Asian or Hispanic 
populations.
    
WYMER AGREES TO BE BARRED:
   California money manager Stephen Wymer has agreed to be barred 
permanently from the securities industry, the Securities and 
Exchange Commission reported Tuesday. Wymer is accused of fraud 
involving the loss of $113 million he managed for cities and 
government agencies in California, Iowa and 11 other states. A 
trial is scheduled in Los Angeles this fall.
    
CLEAR-CUTTING NEEDED:
   A House subcommittee said Tuesday leveling of entire areas of 
forest is sometimes needed to fight damage and save wildlife, 
hurting chances of passage of a proposal to ban clear-cutting in 
federally owned forests. Rep. Bob Smith, R-Ore., said 
clear-cutting is needed in the care of forests. "If you're opposed 
to clear-cutting you're opposed to reforestation," he said.
    
ADDITIONAL TAX APPROVED:
   The Senate Finance Committee Tuesday approved an additional tax 
on the coal industry to pay health-care costs for those miners 
whose companies no longer exist or no longer pay into the United 
Mine Workers' health-care funds. Last-minute lobbying by Sen. Jay 
Rockefeller, D-W.Va., got the tax added into the energy bill 
moving through Congress.
    
STATUTORY CHANGES NEEDED:
   The Bush Administration signaled Tuesday it is willing to work 
with Congress to combat insurance fraud. David Ball, the Labor 
Department assistant secretary for pension and welfare benefits, 
told a House panel that "to combat fraud and abuse (in employer 
pooled health benefit plans), we have reached the conclusion that 
statutory changes are necessary."
    
MACY REPORTS LOSS:
   Retailer R.H. Macy & Co. Inc. said Tuesday it lost $225.9 
million in the three months ended May 2, vs. a loss of $100.9 
million the year-ago quarter, as the retailer went through the 
initial stages of its bankruptcy reorganization. The results also 
reflected $91 million in expenses for the bankruptcy case, 
including store closings.
    
HILTON WINS BALLY'S BIDDING:
   Hilton Hotels Corp. announced Tuesday it will acquire the 
2,001-room Bally's Casino Resort in Reno, Nev., at the end of 
July. Hilton's offer of $83 million, plus assumption of certain 
liabilities, was the winning bid in a sale proceeding conducted 
Tuesday by the United States Bankruptcy Court for the District of 
New Jersey.
    
SNYDERGENERAL WINS JUDGMENT:
   Judgment was entered in the amount of $12.22 million in favor 
of Dallas-based SnyderGeneral Corporation against the 
international accounting firm of KPMG Peat Marwick, it was 
announced Tuesday. In addition to awarding actual damages, the 
jury also determined that Peat Marwick's conduct amounted to gross 
negligence and awarded exemplary damages in the amount of 
$2,327,533.
    
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