Miners strike against PeabodyThe United Mine Workers...

BUSINESS DIGEST

February 02, 1993

Miners strike against Peabody

The United Mine Workers struck early this morning against subsidiaries of the nation's largest coal producer. Up to 7,000 miners walked out at Peabody Coal Co. of St. Louis and Eastern Associated Coal Corp. of Charleston, W. Va. Both are subsidiaries of Peabody Holding Co. of St. Louis. It wasn't immediately clear which mines, which Peabody operates in eight states, were affected.

Also yesterday, the union representing the nation's 40,000 oil industry workers reached a tentative labor agreement with Amoco.

IBM sues Japanese company

IBM filed a $150 million lawsuit yesterday against Kyocera Corp., accusing the Japanese company of infringing copyrights on software used in personal computers. IBM has filed similar suits against other personal computer companies, but this is the first against a Japanese company. And the damages sought are unusually large.

In the suit, filed in a Tokyo court, IBM accused Kyocera of infringing copyrights on the software that helps direct the flow of information between the central processor and peripherals like the keyboard, screen and disk drives.

Bilzerian must repay $33 million

A federal judge yesterday ordered former corporate raider Paul Bilzerian to pay back more than $33 million in illegal profits from a pair of takeover attempts during the merger mania of the 1980s.

The Securities and Exchange Commission said it had won a court order requiring the former Singer Co. chairman to give up $33.1 million in illegal profits plus interest. It was the latest legal setback for Bilzerian, who was sentenced in 1989 to four years in prison and a $1.5 million fine.

Vento asks ouster of RTC chief

An influential lawmaker urged the Clinton administration yesterday to dismiss the head of the agency responsible for cleaning up the savings and loan industry and to reform its operations before seeking more money for the thrift bailout.

Rep. Bruce F. Vento, D-Minn., a senior Democrat on the House Banking Committee, accused the Resolution Trust Corp. and its president, Albert V. Casey, of ineptitude and inefficiency, and said the additional billions of dollars needed to dispose of failed thrifts should be withheld.

BG&E registers to sell stock

The Baltimore Gas and Electric Co. has filed a shelf registration with the Securities and Exchange Commission to sell up to 2 million shares of common stock at unspecified times in amounts as small as 10,000 shares.

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