Marriott lawsuit to expandA group of Marriott Corp...


March 02, 1993

Marriott lawsuit to expand

A group of Marriott Corp. bondholders led by PPM America Inc. said yesterday that it's preparing to expand its lawsuit against the hotel company, a spokesman for the bondholders said.

The litigation would be expanded to include new claims alleging fraudulent conveyance, breaches of contract and fiduciary duty, and other broad-based claims against Marriott.

R. H. Macy to close 11 stores

R. H. Macy & Co. Inc. said yesterday it would shutter 11 more stores, part of the famous retailer's plan to regain strength after more than a year in bankruptcy court.

McDonnell Douglas settles suit

McDonnell Douglas Corp. agreed yesterday to pay $20.1 million to settle charges that it discriminated against more than 900 older employees when it cut nearly 25 percent of its work force in St. Louis in 1990 and 1991.

The agreement, announced jointly by McDonnell Douglas and the U.S. Equal Employment Opportunity Commission, settles a suit, filed in U.S. District Court in St. Louis, charging the defense contractor with using age as a basis for laying off or retiring nonunion employees 55 and older.

Robinson's retirement package

American Express Co. is paying its former chairman James Robinson almost $2 million in severance pay on top of his annual pension of $730,000 in a slimmed-down retirement package, a proxy released yesterday showed.

Northwest seeks concessions

Northwest Airlines, denying there are plans to file for Chapter 11 bankruptcy protection, has asked its unions to approve major new concessions by March 10 in an effort to return the carrier to profitability.

Giant ekes out sales increase

Giant Food Inc., the Landover-based grocery chain that dominates the Washington-Baltimore market, said yesterday that it recorded a razor-thin 1.43 percent increase in sales over the past 52 weeks despite food price deflation and rising competition.

Martin Marietta wins contract

Martin Marietta Corp.'s Aero & Naval Systems Division plant in Glen Burnie has been awarded a $46.9 million Navy contract for the production of 10 TB-29 towed arrays for use on submarines. Towed arrays are underwater listening devices used to track submarines and surface ships.

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