California is ready to hand over its statewide phone system to
, a unit of
in what would be a $1 billion contract, the
Los Angeles Times
labor news. The
reports that workers at other plants may strike, including those in Dayton, Ohio, Bowling Green, Ky., and Indianapolis. And of course, the fine folks at the Saturn plant in Spring Hill, Tenn., have authorized a strike. GM already is dealing with strikes at two parts plants in Flint, Mich.
says it's not for sale despite its hiring of
to help formulate its strategy, reports the
. Chairman Ed Marinaro is quoted as saying, "Our strategy is clearly to remain independent and to be able to expand our business base considerably.''
In a case that could have ramifications for other savings-and-loans,
, a $2.7 billion Pittsburgh-area thrift, says it will get as much as $41.5 million from the federal government as part of a settlement of a case stemming from a change in accounting rules years ago that weakened the institution, reports the
. Led by Glendale, Calif.-based
Golden State Bancorp
, several other thrifts are involved in similar suits and seem likely to win. Golden State's
Glendale Federal Bank
unit won its case before the
, and the case is now in the damage phase.
The Financial Post
(which just changed hands to
in a major paper
) looks at the merger of Canada's largest entertainment companies,
(ATV:Toronto), into a C$750 million firm.
Globe & Mail
sticks its nose into the $4 million penalty levied on
First Marathon Securities
(FMS:Toronto) by the
Toronto Stock Exchange
for early 1990s troubles.
will chomp into China's culinary products market with the purchase of one of Shanghai's best-known brands of soy sauce. The
takes a bite.
Sydney Morning Herald
takes a look at
, an offer worth almost three times what the company was worth just two months ago.
reports that the
Bank of Yokohama
will join with four foreign and several domestic investment trust firms (including
Fidelity Investments Japan
Morgan Stanley Asset & Investment Trust Management
) in preparation for selling investment trust products over the counter in December.
And finally, in the midst of a heat wave there's this: Greenwich Village musician-turned-executive David Plattner has unveiled plans to build a $300 million glass-enclosed winter sports metropolis in Miami. The
reports that "the refrigerated glass dome would produce enough steam as a byproduct that it could be tapped and recycled into power."