Intel expects to surprise analystsIntel Corp., in a vivid...

BUSINESS DIGEST

December 17, 1992

Intel expects to surprise analysts

Intel Corp., in a vivid demonstration of changing fortunes in the computer industry, said yesterday that it expects its fourth-quarter results to be "well above" analysts' estimates. Intel stock jumped on the news, gaining $6.125 or 7.9 percent to end at $83.50 in very heavy NASDAQ trading.

France refuses to cut tariffs

France dealt a potentially devastating blow to crisis-ridden world trade talks yesterday by announcing it would block European Community offers to cut import tariffs on farm products. French Foreign Minister Roland Dumas said Paris regarded the proposals submitted by the EC's executive commission as "null and void, and without [legal] commitment and value."

Price Waterhouse retrial ordered

A $338 million jury award against the Price Waterhouse accounting firm was overturned by a federal judge who said jurors may have been confused about calculating damages due a British bank.

Judge John Sticht of Maricopa County Superior Court said yesterday the case should be retried because the verdict, announced May 19 after an 11-month trial, was "blatantly erroneous."

USAir meeting postponed

USAir Group Inc. said yesterday that its special stockholders meeting, scheduled for Dec. 18, would be postponed and rescheduled for Dec. 24 at 9:30 a.m. at the Loews Pentagon City 6 Cinema Theatre, Fashion Center Shopping Mall, 1100 South Hayes St., Arlington, Va.

The reason for the postponement was that the Department of Transportation has not made a definitive response to the proposal of British Airways PLC, which was to have been considered at the meeting. USAir said it was told the department's decision would be rendered by Dec. 24.

Marriott fills board vacancies

Marriott Corp., in the middle of a controversial restructuring plan, has filled two vacant board seats, naming as directors a former partner of Kohlberg Kravis Roberts & Co., the leveraged buyout firm, and the head of Bain & Co., the Boston consulting group.

W. Mitt Romney, 45, chief executive of Bain, brings financial and management experience to Marriott's board. R. Theodore Ammon, 43, the former KKR partner, is an expert in restructuring companies and worked on the $29.6 billion leveraged buyout of RJR Nabisco, Inc. in 1989.

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