Seat on public service panel is filledGov. William Donald...

BUSINESS DIGEST

October 15, 1992

Seat on public service panel is filled

Gov. William Donald Schaefer said yesterday that he appointed Susanne Brogan to the Maryland Public Service Commission to fill a seat left vacant when William A. Badger chose not to seek a second term, which ends June 30, 1996. Ms. Brogan, who will take office Nov. 25, is now a legislative assistant to House Speaker R. Clayton Mitchell Jr., D-Kent.

SEC to require greater disclosure

Under pressure from lawmakers and shareholders, the Securities and Exchange Commission will approve rules today that will require publicly traded companies to disclose how much top executives earn and make it easier for shareholders to challenge incumbent directors.

The regulations fall short of more ambitious proposals made by stockholders, lawmakers and others over the years. Nonetheless, the new rules were widely regarded by both corporate and shareholder groups as a significant step toward opening boardrooms to greater involvement by shareholders.

Ames sues acquisition adviser

Ames Department Stores Inc. has filed a lawsuit against Wertheim Schroder & Co. Inc. and the firm's chairman for allegedly providing shoddy investment advice to Ames regarding its acquisition of Zayre Corp. Ames charged that Wertheim Schroder did not perform "the appropriate level of due diligence" because the investment firm was representing both retailers in the transaction. Ames, which filed for bankruptcy in April 1990, bought Zayre in 1988.

Crop Genetics gets vaccine patent

Crop Genetics International said yesterday that it received a patent in Europe for the first of a series of patent applications for the company's plant vaccine technology. The patent covers the concept of using microorganisms that live inside plants as a way to control pests.

SBA offers computer bulletin board

The Small Business Administration launched a computer bulletin board service yesterday to provide free information on starting or running a small business. The agency's administrator, Patricia Saiki, said anyone with a telephone, computer, modem and printer can get information.

The computer bulletin board will include information on the agency's loans and on programs for women, minorities and veterans, as well as information on agency events. The number for callers with a 2400-baud modem is (800) 859-INFO. The number for 9600-baud modems is (800) 697-INFO.

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