And He Can't Dunk
Date: 03 January 1992
Commissioner DAVID STERN, the man who maneuvered the National Basketball Association into big money and international markets, is the most powerful person in sports, according to The Sporting News. Only three athletes -- two of them basketball players -- made the weekly newspaper's list of the 100 most powerful people in sports, and they finished far down in a ranking dominated by businessmen, television executives and league commissioners. MAGIC JOHNSON was No. 31, MICHAEL JORDAN, 50th, and JACK NICKLAUS, 81st.
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A Settlement In Southmark Suit
Date: 03 January 1992
By Bloomberg News
Bloomberg News
The Southmark Corporation, which is operating under Chapter 11 bankruptcy protection, said it had settled its litigation with its former chairman, Gene E. Phillips, and former vice chairman, William S. Friedman, and the entities they control.
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Corning and Vitro Complete Venture
Date: 03 January 1992
By Bloomberg News
Bloomberg News
Corning Inc. and Vitro S.A. of Mexico completed formation of a joint-venture consumer housewares company with annual sales of more than $800 million. Corning said it received a cash payment of more than $130 million from Vitro at the closing of the deal today. Corning said it expected to report a "modest gain" from the transaction in the first quarter.
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USAir Can Buy T.W.A. Routes
Date: 03 January 1992
By Bloomberg News
Bloomberg News
The Federal Trade Commission will allow USAir Group Inc. to purchase two London routes from Trans World Airlines Inc. The agency said today that it had cleared the transaction under Federal antitrust laws. USAir, based in Arlington, Va., will pay T.W.A. $50 million for the routes, which connect London's Gatwick Airport with Philadelphia International Airport and Baltimore/Washington International Airport. The company plans to begin daily service on each route on March 2, said a USAir spokesman, Dave Shipley.
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More Bonds Are Insured
Date: 03 January 1992
By Bloomberg News
Bloomberg News
The total par amount of insured bonds in the third quarter of 1991 increased 47 percent, to $50.1 billion, from $34 billion in the third quarter of 1990, according to the Association of Financial Guaranty Insurors. The increased demand for insured bonds reflected the growing concern of investors about the safety of bond investments, the association said.
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Rule Studied By Treasury
Date: 03 January 1992
By Bloomberg News
Bloomberg News
The Treasury, as part of its review of the auction process for Government securities, is examining whether a primary dealer's exposure in options and repurchase agreements should be counted under the so-called 35 percent rule. The rule limits to 35 percent the amount of securities any one bidder can buy at a Treasury auction. The rule also prevents firms from bidding for more than 35 percent of bonds at any one yield.
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NEWS SUMMARY
Date: 02 January 1992
INTERNATIONAL A2-12 SALVADOR ACCORD: PEACE AT LAST? The Salvadoran peace agreement reached at the U.N. will bring an almost immediate truce in the 12-year civil war, and by autumn, disbanding of the five rebel armies, Government and rebel officials said. Some points are unresolved. A1 The rebel soldiers' joy eclipsed even the Rolling Stones. A12 UNEASY FRIENDSHIP News Analysis: Bush's trip to Japan next week has turned into a messy confrontation over trade, and a major political test for Miyazawa. But the Japanese also hope to make the trip at least look like a success for a President they view as a friend. A1 Bush reassures Australia on economy and security. A10 THE PRICE IS WRONG Russian consumers wake up today with the cost of their no-frills existence far higher. Their reactions will determine the success or failure of Yeltsin's fateful political and economic gamble. A1 Georgia's opposition talked of forming an interim government. A8 Reunion with Romania? The Moldovans are intrigued. A9 CROATIA AGREES TO U.N. FORCE Croatia joined Serbia and the Yugoslav Army in formally accepting a United Nations proposal for the possile deployment of an international peacekeeping force in embattled regions of its territory. A3 LOOKING ELSEWHERE FOR ARMS With the cessation of arms aid from Moscow, an era ended in the Afghan war. But now, Muslim rebels fear that Najibullah may find new benefactors in bordering former Soviet republics that fear an Islamic government in Kabul. A4 MORE HOUSING IN THE TERRITORIES The Israeli Government has yielded to the demands of far-right parties and Jewish settlers, agreeing that two-thirds of the publicly financed houses and apartments in 1992 will be built in the occupied West Bank and the Gaza Strip. A3 Cardinal O'Connor, on Mideast tour, arrives in Lebanon. A2 Saddam Hussein's oldest son urges public executions. A3 Phnom Penh Journal: Once again, Buddhism safe and serene. A4 Assam rebels were said to operate from Bangladesh A5 India seems adrift in a world without its Soviet mentor. A6 A planned Dresden-Prague highway upsets environmentalists. A7 NATIONAL A14-18 NEW HAMPSHIRE TAX DEBATE For years New Hampshire has prided itself on having neither a state income tax nor a state sales tax, but with the state caught in its worse financial straits since the Great Depression, pressure is on for a new source of revenue. A1 THE JOB MACHINE FALTERS For decades, banks, fast-food restaurants, hospitals, law firms, retail chains and governments have been the engine that powered the great American job machine. No more. Except for health care, the services are in the throes of a pervasive shake-up. A1 WHITHER THE STOCK MARKET? The stock market story of 1991 was one of prices that soared early in the year and again at the end. But the economy barely limped along, and consumer confidence plunged to its lowest level in a decade. Such a divergence suggests that something has to give. D1 RINGSIDE SEAT ON DISASTER Harold D. Jones has had a front-row seat on the excesses of an era. As the United States trustee in charge of administering all bankruptcy cases in New York, Connecticut and Vermont, he has seen hundreds of thousands of parties file for bankruptcies. And he says he does not expect much letup. D1 TIED UP IN RHODE ISLAND A year after the newly elected Governor of Rhode Island ordered the closing of 45 banks and credit unions, many of the people whose accounts were frozen have still not been paid, and state regulators are still ironing out how to do so. A14 A DIMMER LAS VEGAS STRIP Las Vegas has long sold itself as a fantasy world largely resistant to recessions. But now hard times have finally hit the Strip. A14 BALLOON TECHNIQUE FOR ARTERIES Using a balloon to open clogged arteries works better than medicine alone for relieving chest pain, a new study found.A16 GOOD NEWS FOR NEWBORNS The use of deep anesthesia to protect newborns from pain during surgery appears to substantially improve their chances of survival. A16 Flooding worsens in southeast Texas near Houston. A15 Federal disaster aid declarations rose in 1991. A15 METROPOLITAN Digest, B1 THE SPRAWLING APPLE? Without quite noticing it, the New York area has transformed itself into a sprawling region that more than ever resembles Los Angeles, where a movie at the multiplex has become as much a day out as a journey to Lincoln Center or Herald Square. A1 NO HOME AND NO SCHOOL It may seem as if the homeless are everywhere in New York City these days, but the one place they often are not is in school. A decade after large numbers of families began living in shelters and hotels throughout the city, little has been done to make it easy for the homeless to keep their children in school, advocates for schools and the homeless say. A1 Neediest Cases B3 BUSINESS Digest, D1 The Home Section C1-12 20 best sellers of 1991. C1 Though the body's still warm, the cold war is collectible. C1 In a father's house, there are many mansions. C2 Arts/Entertainment C15-22 Giddy but nervous, the film industry greets 1992. C15 With Masur in Leipzig. C15 Film: "The Second Circle." C15 Obituaries A19 Sports B6-13 Baseball: Steinbrenner expected to drop lawsuits. B7 Column: Anderson on Steinbrenner and Yanks. B7 Football: Miami shuts out Nebraska in Orange Bowl. B7 Rose Bowl: Washington 34, Michigan 14. B7 Sugar Bowl: Notre Dame 39, Florida 28. B8 Hall of Fame Bowl: Syracuse 24, Ohio State 17. B9 Fiesta Bowl: Penn State 42, Tennessee 17. B9 Cotton Bowl: Florida State 10, Texas A&M 2. B9 Peach Bowl: East Carolina 37, N.C. State 34. B10 Citrus Bowl: California 37, Clemson 13. B10 Hockey: Capitals defeat Islanders, 8-5. B12 Editorials/Op-Ed A20-21 EditorialsA20 The fear in Russian eyes. Hurdles for young smokers. David C. Unger: Japan. Letters A20 William Safire: No "horror show." A21 Anthony Lewis: He let in the light. A21 Tyrus W. Cobb: Neutralize nuclear mercenaries. A21 Nancy Kassebaum and Paul Simon: Save Somalia from itself. A21
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NEWS SUMMARY
Date: 03 January 1992
International A2-10 YUGOSLAVS PLEDGE TRUCE Leaders of the Serbian-led Yugoslav Army and the Croatian national guard pledged to cease hostilities on Friday, raising hopes that United Nations peacekeeping forces could be deployed to separate the warring factions in Yugoslavia. A1 GLOOM IN RUSSIAN SHOPS
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News Service Editor
Date: 02 January 1992
By Stuart Elliott
Stuart Elliott
Keith J. Kelly, editorial director of Magazine Week in New York, is leaving that position, effective Jan. 10, to take a post at Cowles Business Media Inc. in New York. Mr. Kelly, 37 years old, will become editor of an electronic news service for media executives, now being developed for introduction in 1992 and editor at large for Cowles's Folio and Publishing News magazines. A successor at Magazine Week has not yet been named.
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BRIEFS
Date: 03 January 1992
* American Home Products Corp., New York, and Oncogene Science Inc., Manhasset, L.I., said they would jointly develop gene transcription-based drugs for treatment of diabetes, asthma and osteoporosis. * W. R. Grace & Co., New York, said it had completed the sale of its Bekaert Textiles subsidiary to Gamma Holding N.V., Helmond, the Netherlands. The value of the transaction was not disclosed.
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