British, Virgin airlines hold talksTop executives of...

BUSINESS DIGEST

February 09, 1993

British, Virgin airlines hold talks

Top executives of British Airways PLC and Virgin Atlantic Airways met in a bid to resolve their dispute over the British Airways "dirty tricks" campaign against Virgin.

British Airways previously paid out an estimated $5.3 million in damages and legal fees to settle a libel suit brought by Virgin. Virgin chief Richard Branson has threatened further legal action if British Airways does not compensate Virgin for the business it lost because of British Airways' tactics.

Soros, Reichmann set up fund

Financier George Soros is setting up a new real estate fund with Paul Reichmann, who oversaw the meteoric rise and collapse of the Olympia & York property empire.

The $525 million Quantum Realty Fund, to begin operations early next month, will be managed jointly by a new Toronto company headed by Mr. Reichmann, Reichmann International, and Soros Fund Management, which runs the $3.5 billion Quantum Fund and several other offshore mutual funds.

Coors names outsider president

A former Frito-Lay Inc. executive with expertise in product marketing yesterday became the first non-Coors family member named president and chief operating officer of Coors Brewing Co.

W. Leo Kiely III, 46, officially takes over March 1, replacing Peter Coors, who has been promoted to chief executive officer of the Golden, Colo.-based subsidiary of Adolph Coors Co.

Taco Bell, Frito-Lay team up

In a sign of mounting competition over Mexican specialty foods, fast-food chain Taco Bell and snack foods giant Frito-Lay Inc. said yesterday that they have teamed up to bring Mexican food to supermarket shelves. The venture by the two companies, both subsidiaries of Pepsico Inc., marks the first foray of a fast-food restaurant product into supermarkets.

MicroProse posts changes

MicroProse Inc. in Hunt Valley, which makes entertainment software, announced several management and operational changes.

Ronald J. Bueche, vice president and corporate controller, has been named vice president and chief financial officer.

Mr. Bueche succeeds James W. Thomas, who has accepted a position as chief operating officer of a company in California.

Also, Tony Parks was named vice president of development for the U.S. Video Game Division, and Raymond Rutledge was named vice president of development for the U.S. Personal Computer Division.

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