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From: americast-post@AmeriCast.Com
Organization: American Cybercasting
Approved: americast-post@AmeriCast.com
Subject: DIGEST<From news services and staff reports=
Date: Tue, 10 Nov 92 04:53:22 EST
Message-ID: <17.1992Nov10.045323@AmeriCast.com>

DIGEST<From news services and staff reports=

 T-bill rates rose. The Treasury sold three-month bills at an
average discount rate of 3.10 percent, up from 3.05 percent last
week, and six-month bills at an average discount rate of 3.31
percent, up from 3.27 percent. The investment rate is 3.17 per-
cent for three-month bills, with a $10,000 bill selling for
$9,921.60, and 3.41 percent for six-month bills selling for
$9,832.70. Separately, the Federal Reserve said the average yield
for one-year Treasury bills rose to 3.58 percent last week from
3.50 percent the previous week.<

Storage Technology shares lost a third of their value in hectic
trading as investors reacted with dismay to another delay in the
company's Iceberg disk storage product. Storage Tech's stock, the
most actively traded on the NYSE, plummeted $8.12 1/2 to $23.62
1/2.<

Apple Computer joined nine software vendors in offering develop-
ment tools that allow corporations to build computer systems un-
iting everything from the personal computers to mainframes. Apple
said its new tools include third- and fourth-generation computer
languages, as well as products for visual and advanced system
development.<

Compaq Computer introduced a number of powerful new notebook-size
PCs. Compaq said all models come standard with 4MB of RAM, MS-DOS
5.0 and Microsoft Windows 3.1 software and one-year, on-site ser-
vice at no extra charge.<

Dell Computer and NCR reduced personal computer prices. Dell,
which until now has tried to stay out of a raging price war in
the PC industry, announced price cuts of as much as 13 percent.
It also launched a new PC powered by a 386SX microprocessor for
$810. NCR slashed prices by as much as 39 percent on PC and
workstation products in a bid to build market share.<

Intel introduced a 486 microprocessor chip for portable computers
that it said offers twice the performance while needing only
about half the five volts required to operate most chips.<

The seven regional Bell companies and Northern Telecom unveiled
an experimental system that allows television viewers to use a
remote control unit to order "video on demand," receive it
through their home telephone lines, and still have use of VCR-
like features such as pause, rewind, fast forward and video
searching. The service is available immediately for any of the
Bell companies to sell. Bell Atlantic has separately begun
development of a video-on-demand service that it will test with
its employees.<

IBM plans to sell handheld multimedia devices produced by Sony, a
move analysts said could strengthen each company in an area in
which it is weak. The U.S.  computer maker plans to sell the CD-
ROM players as a package with its own software.<

Two airlines will match domestic airfare cuts of as much as 35
percent announced by Northwest Airlines. American and Continental
said they will cut fares in response to Northwest's earlier an-
nouncement reducing fares this winter on selected domestic
flights.<

Mack Trucks' union workers in four states approved a contract
that will let the struggling company close plants in 18 months,
an official said. The contract covers about 3,000 members in
Pennsylvania, Winnsboro, S.C., Baltimore and Hagerstown, Md., and
Atlanta.< Mitre Corp., a federally funded research development
company with a major branch in McLean, was sued by 10 former em-
ployees who alleged in civil suits filed in federal court in
Alexandria that they were unfairly laid off in 1990 because of
their age. A company spokeswoman said she had not seen the suits
and could not respond to the allegations.<

General Electric settled charges with the Federal Trade Commis-
sion, agreeing to tell customers that the Energy Choice incandes-
cent bulbs it touts as more energy efficient and cost effective
than regular bulbs also are dimmer. GE reached similar agreements
with 32 states.<

Du Pont will sell its connector systems business to Hicks, Muse &
Co., a private investment firm that has offices in New York and
Dallas, for about $400 million by the end of the year. Also in-
vesting in the sale is Mill & Partners, a St. Louis-based company
specializing in taking over companies and improving their opera-
tions.<

Food Lion, the supermarket chain that is suing ABC over last
Thursday's segment of "PrimeTime Live," won a federal
magistrate's permission to get sworn statements from one of the
network's producers. A report that showed the meat department of
the Southern grocery chain selling outdated and doctored meat,
fish and poultry prompted the lawsuit.<

Teledyne Industries paid a $17.5 million criminal fine for falsi-
fying tests on electronic switches, a fine that U.S. Attorney
Terree A.  Bowers called the largest ever imposed for defense
fraud. Teledyne pleaded guilty to 35 counts of preparing and sub-
mitting false statements on tests of relays from its Teledyne Re-
lays Division.<

Alliant Techsystems and Olin said a hearing has been scheduled
for Nov. 16 to consider the FTC's motion for a preliminary in-
junction to block a transaction involving the exchange of a major
portion of Olin's defense business for about 22 percent of Alli-
ant Techsystems stock.<

Minolta lost $23.6 million for the six months that ended Sept.
30, compared with an $18.9 million loss in the same period last
year.< Two major department store companies reported mixed
results for the latest quarter, although both said their sales
improved over the year-ago period. May Department Stores, owner
of the Hecht Co. and Lord & Taylor chains, lost $190 million be-
cause of $485 million in restructuring charges, compared with a
profit of $91 million a year ago. Dillard Department Stores re-
ported earnings rose 14 percent. Another retailer, AnnTaylor
Stores, said profits rose 19 percent.<

<

02:12 11-10C9999-----

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

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