New Bon Secours Hospital facilityWith $6 million in...

BUSINESS DIGEST

March 18, 1993

New Bon Secours Hospital facility

With $6 million in assistance from Maryland, Bon Secours Hospital will soon begin construction of an $18.6 million ambulatory care and diagnostic/treatment facility in West Baltimore.

Maryland's Board of Public Works yesterday awarded a contract to Turner Construction Co./Smoot Co. of Arlington, Va. The four-story, 100,000-square-foot building will be added to the hospital at 2000 W. Baltimore St.

GM hires Webster to review probe

General Motors Corp. has hired William H. Webster, a former director of the FBI and the CIA, to review the thoroughness of its investigation into charges that documents pertaining to fire-prone pickup trucks were shredded.

William O'Neill, a spokesman for GM, said yesterday that Mr. Webster had agreed to conduct an independent investigation, although he will work with GM's legal department.

MAC offers wider ATM access

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Money Access Service Inc., a Philadelphia-based company that runs the MAC automated teller machines, said customers in Maryland can now make deposits to MAC machines in Delaware, Pennsylvania and New Jersey. Customers in those states can make deposits in Maryland. The MAC system has 1,400 participating financial institutions in 16 states, and 26 million card-holders.

U.S. bankruptcy filings hit peak

For the eighth straight year, filings for bankruptcy protection in U.S. courts hit a record high in 1992, the American Bankruptcy Institute reported yesterday. The rate of increase slowed, but the Washington-based research institute said anecdotal evidence shows no abatement in filings and no indication that underlying economic weakness is improving.

Md. firm gains Ward contract

Montgomery Ward & Co., the Chicago-based retailer, has awarded a multimillion-dollar contract for satellite networking equipment and services to Hughes Network Systems Inc. in Germantown. Hughes Network, a subsidiary of Hughes Aircraft Company, a unit of GM Hughes Electronics, did not disclose the value of the contract.

Fed governor sees burden on banks

John Laware, a Federal Reserve governor, said yesterday that the regulatory burden on banks is becoming unmanageable, and he called for easing restrictions on banking activities.

He noted that the Fed supports nationwide banking, as well as allowing commercial banks to fully engage in investment banking. He also said that to cut the costs imposed on banks, the Fed supports paying interest on required reserves.

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