McDonnell Douglas profits strongMcDonnell Douglas Corp...

BUSINESS DIGEST

July 20, 1993

McDonnell Douglas profits strong

McDonnell Douglas Corp., despite the double blow of a weak airline industry and shrinking defense spending, yesterday reported strong earnings for the second quarter and said it is on track for higher profits.

The strong results were boosted by one-time gains and reductions in operating costs due to large staff layoffs.

The company said it earned $170 million in the latest period, or $4.33 per share, compared with profits of $11 million, or 29 cents a share, in 1992's second quarter.

Westinghouse official to get U.S. job

The White House has announced that President Clinton intends to nominate R. Noel Longuemare Jr., a top executive at the local Westinghouse Electronic Corp. division, to be deputy undersecretary of defense for acquisitions.

Mr. Longuemare has been with Westinghouse since 1952 and serves as vice president and general manager of the Electronic Systems Group's Systems Development and Technologies divisions. He is also a vice president of the corporation.

Primerica earnings up 25%

Primerica Corp., parent of the Wall Street brokerage Smith--

Barney Harris Upham & Co., said yesterday that its second-quarter earnings rose 25 percent, crediting record results from Smith Barney for the company's advance.

The company, parent of Baltimore-based Commercial Credit Co., said earnings for the April-June period were $186.4 million, or $1.02 a share, up from $149.6 million, or 90 cents a share, during the comparable period in 1992. Commercial Credit employs more than 300 people in Baltimore and has 4,000 employees nationwide.

9 named to Md. Chamber board

The Maryland Chamber of Commerce, a division of the Maryland Business Council, has selected nine members to its 39-person board.

The members are:

B. Michael Baltzell, senior vice president/works manager at Eastalco Aluminum Co. in Frederick; John M. Derrick Jr., president and chief operating officer of Potomac Electric Co. of Washington; Barbara Hill, vice president for group operations for the Prudential Insurance Co. of America in Baltimore; Roger C. Lipitz, chairman of Meridian Healthcare Inc. in Towson; Scott S. Menzies, president of the Terminal Corp. in Baltimore;

Hugh W. Mohler, president and chief executive officer of Peninsula Bank in Salisbury; Alan J. Noia, president of the Potomac Edison Co. in Hagerstown; Jerald J. Oppel, a partner in the Baltimore law firm of Ober, Kaler, Grimes & Shriver; Alfred L. Whiteman, a director at the financial company of Walpert, Smullian & Blumenthal P.A. in Towson.

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