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wsj_0679 | Document creation time: 10/30/89
Hewlett-Packard Co. said it raised its stake in Octel Communications Corp. to 8.5% of the common shares outstanding.
In a Securities and Exchange Commission filing, Hewlett-Packard said it now holds 1,384,119 Octel common shares, including 100,000 shares bought from Aug. 26 to Oct. 20 for $23.31 to $24.25 a share.
Hewlett-Packard, a Palo Alto, Calif., computer company, said it acquired the stock "to develop and maintain a strategic partnership in which each company remains independent while working together to market and sell their products."
Octel said the purchase was expected. Hewlett-Packard affirmed it doesn't plan to obtain control of Octel, a Milpitas, Calif., maker of voice-processing systems.
According to the filing, Hewlett-Packard acquired 730,070 common shares from Octel as a result of an Aug. 10, 1988, stock purchase agreement. That accord also called for Hewlett-Packard to buy 730,070 Octel shares in the open market within 18 months. In addition, Hewlett-Packard acquired a two-year option to buy an extra 10%, of which half may be sold directly to Hewlett-Packard by Octel. | [
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wsj_1038 | Document creation time: 10/26/89
Benjamin Franklin Federal Savings amp Loan Association said it plans to restructure in the wake of a third-quarter loss of $7.7 million, or $1.01 a share, reflecting an $11 million addition to loan-loss reserves.
The Portland, Ore., thrift said the restructuring should help it meet new capital standards from the Financial Institution Reform, Recovery and Enforcement Act. A year ago, Benjamin Franklin had profit of $1.8 million, or 23 cents a share.
In over-the-counter trading yesterday, Benjamin Franklin rose 25 cents to $4.25.
The company said the restructuring's initial phase will feature a gradual reduction in assets and staff positions. The plan may include selling branches, consolidating or eliminating departments, and winding down or disposing of unprofitable units within 18 months.
Initially, the company said it will close its commercial real-estate lending division, and stop originating new leases at its commercial lease subsidiary.
Details of the restructuring won't be made final until regulators approve the regulations mandated by the new federal act, the company said. | [
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wsj_1040 | Document creation time: 10/26/89
ONEIDA Ltd. declared a 10% stock dividend, payable Dec. 15 to stock of record Nov. 17. The Oneida, N.Y., maker of consumer, food-service and industrial products also declared a quarterly cash dividend of 12 cents a share, with the same payable and record dates. The cash dividend paid on the common stock also will apply to the new shares, the company said. The move rewards shareholders and should improve the stock's liquidity, Oneida said. The company has about 8.8 million shares outstanding. In New York Stock Exchange composite trading yesterday, Oneida's shares closed at $18.375 a share, unchanged. | [
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wsj_0706 | Document creation time: 10/27/89
Security Pacific Corp. has set its sights on buying its second bank holding company this year.
Security said it signed a letter of intent to purchase La Jolla Bancorp, agreeing to pay $15 of its own stock for each share of La Jolla. Based on the current number of La Jolla shares, that gives the transaction a value of $104 million.
La Jolla is the parent company of La Jolla Bank amp Trust Co., which has 12 branches in San Diego County. As of Sept. 30, the bank had assets of $511 million and deposits of $469 million, Security Pacific said.
Earlier this month, Security Pacific, which is among the 10 largest bank holding companies in the U.S., completed the acquisition of San Diego-based Southwest Bancorp. | [
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APW19980501.0480 | Document creation time: 05/01/1998 09:13:00
MALAYSIA's aggressive move into the information age could not come in a more opportune time. With the convergence of communications and information technologies (IT) coupled with the coming of age for the Internet and its related technologies, the stage is set for Malaysians to seize the chance to transform into a knowledge society and become worthy opponents/players in the global market space. The Internet, the global network of computers, is now far reaching into the country - extending its embrace to include every nook and cranny of the nation - opening doors to not only a diverse range of information sources but also an exhaustive list of possibilities to create new applications which add value to people's lives. In the business world, the Internet - through intranet and extranet solutions - has become an invaluable tool for companies to harness so as to gain a competitive edge. The solutions are also vital components in developing the borderless marketing flagship application which is a vital element for spearheading the development of the Multimedia Super Corridor (MSC) project. The application will create the necessary framework and infrastructure to support electronic commerce (e-commerce) initiatives in the country. However, it is important to note that installing or implementing Internet technologies for technology's sake would not ensure instant success. For e-commerce to flourish with full-blown end-to-end business transactions, strategic planning which incorporates both business and technology plans that are complementary is necessary for an organisation to see feasible returns on investment. Intranets, through the use of Internet technology, are positioned as a platform for companies to optimise, expand and transform new channels of business. When strategically implemented, an intranet solution will provide the ability to mediate mission-critical, decision support functions in organisations. It will also help further improve communications and collaboration at all levels in an organisation. With intranets in place, it is only logical for organisations to respectively link the network to other companies' for extended business purposes through extranets. While this will enable the sharing of information among enterprises, security issues such as firewalls and encryption as well as access and control procedures, and the trust levels that enterprises have with each other will emerge and there will be a need to address them. Other than usage in business, Internet technology is also beginning to infiltrate the lifestyle domain. ``Smart homes'' have emerged bringing a wealth of information and entertainment to families over telecommunications lines. The art of socialising is also experiencing a change where Net/virtual relationships are fast overtaking or becoming parallel with the normal human relationships. Whether this would prove positive or otherwise towards society in the future is yet to be seen. All in all, the Internet has a lot to offer. However, its value and benefits are only as good as how we use it. | [
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PRI19980303.2000.2550 | Document creation time: 19980303
Tomorrow the board of supervisors of Loudon county, Virginia, will vote on whether a school now located in Mount Vernon can relocate to their county. In some respects, that's typical county business, but tomorrow's vote has international implications. The board will decide whether the Islamic Saudi Academy, funded by the government of Saudi Arabia, can move to Ashburn village, Virginia. But local residents have not exactly laid out the red carpet for their would be neighbors. The World's Nancy Marshalll has our story.
Inside the Islamic Saudi academy in Mount Vernon, Virginia, many of the girls wear head scarves and some of the neatly dressed children are in uniforms. The instruction is in English for most classes, in Arabic for language and religious studies. The school says it teaches the children to be good Muslims and good students. They're learning a civics lesson from the residents of Loudon county. The Islamic Saudi Academy has twelve hundred mostly American students but would take thirty-five hundred if it had the room. The academy bought a hundred acres in Loudon county, Virginia, and asked for permission to build a fifty million dollar campus. In the nearby suburban housing tracts, someone dropped off leaflets warning the school could bring thousands of Middle Eastern strangers and terrorists. Some residents of the mostly white, mostly middle class area became alarmed. James Zogby of the Arab American Institute says it's a familiar story.
There is, a- at a very deep level in our culture, um I think, a sense of, of ignorance about Islam, a fear about who Muslims are and what they're doing.
Many local residents denounced the bigotry, but opposition to the school then shifted. Now critics of the academy are targeting its owner, the Saudi government. Pastor James Allmen of the fellowship church and school in Ashburn has led the anti-Saudi campaign. James Allmen says he has no problem with a privately funded academy, but he has a big problem with a Saudi funded school.
The Saudi Arabian government has an atrocious record on human rights and is known to be one of the worst offending countries when it comes to religious persecution.
That's correct.
And that is a condition of the application, then.
At a public hearing on the Islamic Saudi Academy's application, the split in county opinion was obvious, supporters of the academy, including Ann Robinson, said the Saudis were just providing a service and it was unfair to penalize children.
We do not further the purpose of human rights in the world by violating the human rights under our own constitution.
But opponents said the school might be a target for terrorist attacks, complained about its tax exempt status, and wondered why the Saudis are not compelled to allow Christians to worship in their country. Virginia Welch delivered this message to the county board of supervisors.
I urge you to do the right thing and send a message to the Saudis that the citizens of Loudon county embrace religious and human freedom.
Loudon county officials say they'll rule on the application based only on land use issues and ignore all the other objections. What's really behind those objections, some say, is Loudon county's collision with a new reality in America that the country is changing religiously as surely as it is racially and ethnically. According to the Arab American institute, Islam will one day be the second largest religion in the country. For an indication of the problems that could face Muslims as they integrate into American life, one need look no farther than Loudon county, Virginia. For The World, I'm Nancy Marshalll. | [
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wsj_0938 | Document creation time: 10/26/89
Cineplex Odeon Corp. directors said the company's chairman and chief executive, Garth Drabinsky, is considering bidding 780.6 million Canadian dollars (US$666 million) to acquire the company.
The board said Mr. Drabinsky and Vice Chairman Myron Gottlieb are negotiating financing before offering C$16.40 a share to acquire all of Cineplex's shares outstanding. The directors added that the two executives haven't reached a final decision to proceed with a bid and that until an offer is made the board will continue seeking higher offers from other bidders.
The directors said if Messrs. Drabinsky and Gottlieb mail an offer to shareholders by Nov. 22, it will reimburse them a maximum of C$8.5 million for expenses related to a bid.
"We consider that his bid is an acceptable bid," said Sandra Kolber, spokeswoman for the independent directors' committee appointed last May to solicit and review bids for the company in the wake of a dispute between Mr. Drabinsky and Cineplex's major shareholder, MCA Inc.
MCA and Cineplex's other major shareholder, Montreal-based financier Charles Bronfman and his associates, have agreed to tender their holdings to an offer by Mr. Drabinsky unless a higher offer is made by another bidder. MCA holds half of Cineplex's equity and 33% of its voting rights through restricted voting shares, while Bronfman interests hold about 24% of the company's equity.
Ms. Kolber said the committee had received other bids. She declined to identify other bidders but said Mr. Drabinsky's offer "is all cash, and it's for all of the company." Several Cineplex analysts have speculated that outside bids received by the committee were either disappointingly low or for only part of the company.
"All this has really established is that MCA and the Bronfmans have agreed on a price at which they can be bought out," said Jeffery Logsdon, an analyst with Crowell, Weedon in Los Angeles. "If a bid materializes at that price, shareholders will have every reason to be glad, but the question of financing still remains."
Last April, Mr. Drabinsky and a group of financial backers planned to acquire up to 30.2% of Cineplex for C$17.50 a share from Bronfman associates. Mr. Drabinsky, who would have had the right to vote those shares for two years, said the purchase, subsequently rejected by regulators, was aimed at consolidating his control of the company. MCA strongly opposed the Drabinsky group's move.
The directors didn't indicate the source of financing for Mr. Drabinsky's new proposal, but said MCA and the Bronfman associates agreed in principle to buy for $57 million and then lease back to Cineplex its 18-screen theater complex in Universal City, Calif., if Mr. Drabinsky succeeds in an offer.
"This is being done at the suggestion of {Mr. Drabinsky} and to accommodate him, to facilitate his financing arrangements," Ms. Kolber said.
In addition, the directors said if a bid by Mr. Drabinsky is successful, Cineplex expects Rank Organisation PLC to acquire the 51% of Cineplex's Film House unit it doesn't own, and provide Mr. Drabinsky with additional loan financing.
Michael Gifford, Rank's chief executive, said the British theater chain's total involvement "wouldn't exceed $100 million" but declined to give a breakdown between the loan financing and the proposed Film House purchase.
Cineplex shareholders responded coolly to yesterday's announcement. In trading on the New York Stock Exchange, Cineplex closed at $11, down 25 cents, with more than a million shares changing hands. On the Toronto Stock Exchange, Cineplex closed at C$12.875, off 37.5 Canadian cents, well below the C$16.40 level.
"Where's the bid?" asked Pierre Panet-Raymond, an analyst and broker with Toronto securities dealer McDermid St. Lawrence Ltd. Mr. Panet-Raymond said he doesn't think Messrs. Drabinsky and Gottlieb are "anywhere close" to arranging financing and that investors will need a solid offer before the stock begins to rise again.
Mr. Drabinsky couldn't be reached for comment. | [
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PRI19980213.2000.0313 | Document creation time: 19980213
Officials in California are warning residents that oncoming rains will cause dangerous and unpredictable landslides. From member station KQED, Auncil Martinez reports.
Experts say the ground is so saturated it cannot absorb any more water. So that means soil will fall off in chunks and destroy anything in its path. In Los Angeles that lesson was brought home today when tons of earth cascaded down a hillside, ripping two houses from their foundations. No one was hurt, but firefighters ordered the evacuation of nearby homes and said they'll monitor the shifting ground. In the northern California town of Rio Nido, officials say a football field sized slab of hillside could still break loose at any time and destroy an entire neighborhood. And in San Francisco, a mansion overlooking the Pacific Ocean and the Golden Gate Bridge is slipping toward the sea. Forecasters say the picture will get worse because more rains are on the way. For NPR news, I'm Auncil Martinez reporting. | [
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APW20000401.0150 | Document creation time: 2000-04-01
HAVANA (AP) --
Tens of thousands of people paid tribute to the men who launched the Cuban Revolution more than four decades ago in a rally Saturday demanding the return of Elian Gonzalez.
With the historic yacht Granma towering behind him, Raul Castro, younger brother of President Fidel Castro and head of Cuba's Revolutionary Armed Forces, likened the revolutionary battle to the fight for Elian, the 6-year-old boy at the center of an international custody battle.
''Here, no one gives up!'' Castro declared.
The demonstrators, wearing T-shirts with Elian's portrait, waved red, white and blue Cuban flags on the shore of the community of Niquero, where the Granma landed on Dec. 2, 1956, with 82 armed men led by Fidel Castro.
In the years that followed, the guerrilla fighters waged war on the troops of dictator Fulgencio Batista, declaring victory on Jan. 1, 1959 when Batista fled the country.
Castro noted the importance that Cuba's younger generations have played in the communist government's battle to secure Elian's return from the United States, where the boy's Miami relatives are fighting for permanent custody.
As a father and the grandfather of eight children -- including a boy who just turned 6, the same age as Elian -- Castro said he sympathized with the little boy's father, Juan Miguel Gonzalez.
Gonzalez has cited his rights as the child's sole surviving parent in his calls for his boy to be returned to him in communist Cuba. Elian's mother and 10 others perished when their boat sank off the coast of Florida in late November during a crossing from Cuba to the United States.
''Elian today is the symbol of our unity,'' Castro said to cheers.
''And our struggle will not end with the return of Elian,'' added Castro. He said the Cuban people would continue to protest American laws and policies aimed at Cuba, including a four-decade economic embargo and continued U.S. military presence at the Guantanamo Naval Station on the easternmost end of the island. | [
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wsj_0135 | Document creation time: 11/02/89
Elco Industries Inc. said it expects net income in the year ending June 30, 1990, to fall below a recent analyst's estimate of $1.65 a share.
The Rockford, Ill., maker of fasteners also said it expects to post sales in the current fiscal year that are " slightly above" fiscal 1989 sales of $155 million. The company said its industrial unit continues to face margin pressures and lower demand.
In fiscal 1989, Elco earned $7.8 million, or $1.65 a share. The company's stock fell $1.125 to $13.625 in over-the-counter trading yesterday. | [
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XIE19980809.0010 | Document creation time: August 8
TEHRAN, August 8 (Xinhua) --
Iran Saturday condemned the bombing of U.S. embassies in Kenya and Tanzania, and expressed sympathy for the families of the victims.
Foreign Ministry spokesman Mahmoud Mohammadi said that Iran condemns any acts which may result in the death of innocent people, the official news agency IRNA reported.
He expressed hope the "sinister terrorism" will be uprooted with an all-out campaign through international cooperation.
More than 100 people have been killed and more than 1,000 others wounded in the blasts next to the U.S. embassies in Kenya and Tanzania on Friday. No one has claimed responsibility. | [
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APW19990410.0123 | Document creation time: 1999-04-10 06:27:43
AMHERST, N.Y. (AP) --
A rifle found near the home of a slain abortion doctor may yield important clues for investigators trying to track down the gunman.
Dr. Barnett Slepian was killed in his kitchen by a sniper's bullet last fall. Investigators said Friday they found a rifle buried near his home in the Buffalo suburb of Amherst.
The gun was sent to the FBI laboratory in Washington to determine whether it was used to kill Slepian.
``If it's not too badly rusted, they may be able to match the bullet back to the weapon,'' said Walter Rowe, forensics sciences professor at George Washington University.
The rifle might also have clothing fibers, fingerprints or a serial number that can be traced to the buyer, Rowe said.
Buried a foot beneath the ground, the weapon was unearthed during a search of a heavily wooded, four-acre area Thursday. Investigators did not say how close the weapon was to the house.
Anti-abortion protester James Kopp is being sought as a material witness in the shooting.
Investigators said Kopp's car was seen in the neighborhood in the days before the slaying. Kopp vanished after the shooting, and the car was found abandoned at the Newark, N.J., airport in December.
Officials said DNA test results showed a likelihood that a strand of hair discovered behind Slepian's home came from Kopp. | [
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PRI19980205.2000.1998 | Document creation time: 19980205
Thousands of people in Germany have been demonstrating today against the high level of unemployment in the country. Latest figures show a sharp rise, with nearly five million Germans out of work. Caroline Wyatt reports.
Chanting Helmut Kohl must go the unemployed took to the streets of the German capital, Berlin, mirroring protests around the country. Joblessness is now at its highest level in Germany since the second world war. With the general election due this September, record figures couldn't have come at a worst time for Chancellor Kohl. His promise to half unemployment by the year two thousand has now been abandoned. And the German electorate appears increasingly eager to dispense with the services of Europe's longest serving leader. Caroline Wyatt, BBC news, Bonn. | [
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ABC19980304.1830.1636 | Document creation time: 19980304
Finally today, we learned that the space agency has finally taken a giant leap forward. Air Force Lieutenant Colonel Eileen Collins will be named commander of the Space Shuttle Columbia for a mission in December. Colonel Collins has been the co-pilot before, but this time she's the boss. Here's ABC's Ned Potter.
Even two hundred miles up in space, there has been a glass ceiling. It wasn't until twenty years after the first astronauts were chosen that NASA finally included six women, and they were all scientists, not pilots. No woman has actually been in charge of a mission until now.
Just the fact that we're doing the job that we're doing makes us role models.
That was Eileen Collins, after she flew as the first ever co-pilot. Being commander is different. It means supervising the rest of the crew in training and leading them in flight. It is, in short, the kind of management job many American women say they've had to fight for. In space, some say female pilots were held up until now by the lack of piloting opportunities for them in the military.
Once Colonel Collins was picked as a NASA astronaut, she followed a normal progression within NASA. Nobody hurried her up. No one held her back.
Many NASA watchers say female astronauts have become part of the agency's routine. But they still have catching up to do two hundred and thirty four Americans have flown in space, only twenty six of them women. Ned Potter, ABC News. | [
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NYT20000414.0296 | Document creation time: 2000-04-14
MIAMI _
The small pharmacy on Unity Boulevard in Little Havana is unassuming. No Cuban flags sway from its door and no political signs pushing for the case of young Elian Gonzalez hang from its windows.
But the opinion of the woman who runs the modest business, which sells everything from prescription drugs to chewing gum and toys, carries a lot of weight in this part of Miami.
She is Fidel Castro's younger sister, Juanita. While her brother is the personification of evil in this neighborhood where Cuban flags fly from beatup Buicks, Juanita Castro is a beloved and respected member of this community.
And while she maintains a distance between herself and the heated rhetoric and politics that envelop Miami, Friday she had definite opinions on the case of the 6-year-old Cuban boy that has dominated the city for almost five months now.
``I feel for this child,'' Juanita Castro said. ``This has become too politicized, in both Cuba and Miami, and too many people are profiting from this tragedy. I think people have forgotten that this is a human issue.''
Juanita Castro, who arrived in Miami in 1961, believes the custody of the child should be worked out between his family members. She is not certain whether the boy should stay in the United States, but she feels that since he's been here so long, he should be afforded the opportunity to live in a free country.
When asked if she thought the boy's father, Juan Miguel Gonzalez, was being controlled by the Cuban government even though he has been in Bethesda, Md., for the last week, she frowned.
``I don't know what Juan Miguel thinks or believes,'' Juanita Castro said. ``What I do think is that he should have arrived in this country at least 72 hours after his son was found floating off the coast of Fort Lauderdale.''
``This has gone too far. And it's now become a tragedy.''
Dressed in a dark pink blazer and cream color pants, the sister of the Cuban dictator walked around the pharmacy talking warmly with her customers.
She said she she sometimes talks to family members back in Cuba. ``I have sisters that I still speak to,'' she said, ``and this situation is driving people crazy.''
The only thing on Cuban television is Elian's story, she said, and she feels the Cuban people are getting tired of the issue.
She does not speak to her brother and hasn't for several years. ``Nobody talks to Fidel, because he doesn't listen,'' Juanita Castro said. ``He talks and he decides.''
Juanita Castro said she has not visited the Miami relatives of Elian Gonzalez and has no plans to do so. Although she supports the cause of Miami's Cubans in their struggle against her brother's government, she said she prefers to keep a low profile when it comes to politics.
``I just work in my pharmacy every day and I pray for a resolution in our country (Cuba) that is without violence,'' she said. ``And I also pray for this young boy every day because he needs help. He's been through a lot.'' | [
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wsj_0736 | Document creation time: 10/27/89
Poughkeepsie Savings Bank said a plan to sell its South Carolina branch offices to First Citizens Bank, of Columbia, S.C., fell through.
Poughkeepsie also expects to post a one-time charge of $8.3 million, resulting in a net loss for the third quarter. The charge represents a write-down of the goodwill associated with Poughkeepsie's investment in the banks it is trying to sell and its North Carolina branches as well.
The thrift announced the plan Aug. 21. Among other reasons, high fees regulators imposed on certain transfers of thrift deposits to commercial banks "substantially altered the economics of the transaction for both parties," Poughkeepsie said.
Additionally, the bank is increasing its loan-loss reserves for the third quarter by $8.5 million before taxes.
In the year-earlier third quarter, Poughkeepsie Savings had net income of $2.8 million, or 77 cents a share.
Poughkeepsie said it is continuing to try to sell itself, under a June agreement with a dissident-shareholder group. The bank also said its effort would continue past the Nov. 1 deadline set in that agreement and that the litigation between the two sides might resume as a result. The thrift and the holders had suspended their lawsuits as part of the agreement. | [
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