Firm Awarded $222.7 Million In a Libel Suit Vs. Dow Jones
Date: 21 March 1997
By Iver Peterson
Iver Peterson
Federal jury in Houston, Tex, awards $222.7 million to local bond brokerage firm, MMAR Group Inc, in libel suit over 1993 article in The Wall Street Journal; Dow Jones & Co, publisher of Journal, says it will appeal; MMAR claimed article made false statements that drove away its clients, causing firm to close within month of article's appearance; article in question, by reporter Laura Jereski, described how MMAR had become powerhouse selling mortgage-backed securities; it said MMAR was reckless in dealing with its clients, that it had contributed to $50 million in losses by Louisiana state pension plan and was under investigation by regulatory agencies; Prof Vincent Blasi, expert in libel cases, notes this latest award is nearly four times greater than previous record award for libel, and reflects effort of jury to send message to media as a whole; there is ample polling data that public is widely dissatisfied with media's performance (M)
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After Verdict, Trial Still Grips Denver
Date: 21 March 1997
By James Brooke
James Brooke
Acquittal of German artist Jorg Peter Schmitz in accidental death of popular Rocky Mountain News columnist Greg Lopez has provoked mixed emotions in Denver; jurors rejected prosecution's contention that it was Schmitz who was behind wheel of sports car when it slammed at 110 miles hour into back of car driven by Lopez; Spicer Breeden, sports car's owner, was also in car at time of accident; he killed himself two days later (M)
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UNITED ASSET TO ADD PACIFIC FINANCIAL TO AFFILIATES
Date: 21 March 1997
By Bloomberg News
Bloomberg News
United Asset Management Corp says it will acquire Pacific Financial Research Inc for undisclosed amount (S)
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GRANCARE TO EXPAND INTO ALABAMA WITH NORTHPORT DEAL
Date: 20 March 1997
By Bloomberg News
Bloomberg News
Grancare Inc will acquire Northport Health Services Inc for $84 million in cash and stock (S)
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INVESTCORP OF BAHRAIN TO BUY FALCON BUILDING PRODUCTS
Date: 21 March 1997
By Bloomberg News
Bloomberg News
Investcorp agrees to acquire Falcon Building Products Inc for $365 million in cash and assumption of $225 million in debt (S)
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I.B.M. SETS ITS SIGHTS ON A MAJORITY STAKE IN NETOBJECTS
Date: 20 March 1997
By Bloomberg News
Bloomberg News
International Business Machines Corporation will acquire majority interest in Netobjects Inc, closely held provider of software for Internet World Wide Web sites; merger terms not disclosed (S)
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P.G.& E. WILL SELL ASSET AS PART OF LEGAL SETTLEMENT
Date: 21 March 1997
By Bloomberg News
Bloomberg News
PG&E Corp says its Pacific Gas and Electric Co unit will sell system that delivers electricity to 30,000 San Joaquin Valley customers to Modesto Irrigation District for $110 million; sale is part of settlement between district and PG&E, both of whom agree to end pending lawsuits stemming from district's attempt to sell power to one of PG&E's industrial customers (S)
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SNYDER PLANS TO ADD AMERICAN LIST AND BRANN
Date: 20 March 1997
By Bloomberg News
Bloomberg News
Snyder Communications Inc will acquire American List Corporation for $125 million in stock and Brann Holdings Ltd for about $77.5 million in stock and debt (S)
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STATE REGULATORS SAID TO REJECT ENRON MERGER
Date: 21 March 1997
By Bloomberg News
Bloomberg News
Staff of Oregon Public Utility Commission will recommend against planned purchase of Portland General Corp by Enron Corp, on grounds that Enron's offering of $61 million in cost savings and rate reductions does not offer sufficient benefits to meet statutory burden needed to approve transaction (S)
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Tokyo Stocks Post Gain
Date: 21 March 1997
By Bloomberg News
Bloomberg News
Japanese stocks post small gain in trading on Mar 21; Nikkei index of 225 issues climbs 139.45 points, to close at 18,633.16 (S)
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