Mozer plea agreement is offA plea bargain agreement...

BUSINESS DIGEST

January 12, 1993

Mozer plea agreement is off

A plea bargain agreement involving Paul W. Mozer, the central figure in the Salomon Bros. government-bond bidding scandal, collapsed yesterday after federal prosecutors and Mr. Mozer's attorney clashed on the agreement's terms.

British Airways settles libel case

British Airways agreed to pay damages and apologize to entrepreneur Richard Branson and his Virgin Atlantic Airways yesterday in a libel case stemming from an alleged "dirty tricks" campaign. British Airways agreed to pay Mr. Branson $775,000 and issue an apology, and pay $170,000 to Virgin and $4.6 million in fees and court costs.

Clifford bid for dismissal fails

A New York judge yesterday rejected Clark M. Clifford's bid to have state charges against him in the Bank of Credit & Commerce International scandal dismissed on the basis of his poor health.

Chrysler to sell 40 million shares

Chrysler Corp. said yesterday that it plans to sell 40 million new shares of common stock, a move designed speed the automaker's financial recovery. The offering could bring Chrysler about $1.45 billion, if priced at $36.25 a share, yesterday's closing price for Chrysler's common issue.

Nordstrom accord on back pay

Fashion retailer Nordstrom Inc. tentatively agreed yesterday to pay millions of dollars to thousands of current and former workers who say they were never paid for work performed "off the clock." Union officials said the settlement could cost Nordstrom as much as $30 million. The company said it did not expect claims to exceed $15 million.

KLM-Northwest integration OK'd

The Transportation Department gave formal approval yesterday to an agreement by Northwest Airlines and KLM Royal Dutch Airlines to integrate air services and operate as a single airline. The department also granted their request for antitrust immunity.

Phone systems partnership

Northern Telecom Ltd., a supplier of digital switching equipment, and Bell Atlantic Corp., a regional telephone company, said they formed a partnership to market and sell private phone systems to companies in the mid-Atlantic region.

Merry-Go-Round election snub

The International Ladies Garment Workers Union said it would not participate in Thursday's election for representation of the Merry-Go-Round Enterprises Inc. warehouse workers.

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