bTCBaxter barred by governmentBaxter International, the...

BUSINESS DIGEST

August 14, 1993

bTC

Baxter barred by government

Baxter International, the world's largest hospital supply corporation, was barred yesterday from doing business with the federal government for up to one year.

The suspension, which could cost the company more than $125 million, was imposed by the Veterans Affairs Department. The agency said the company in Deerfield, Ill., misled VA purchasing agents to fatten its government contracts.

Car sales edge upward

Sales of domestically built cars and light trucks rose just 3.6 percent in early August, compared with a weak year-earlier period, as dwindling dealer inventories caused some shoppers to postpone their purchases.

Paper wants more blacks in ads

The New York Times will require real estate advertisers to depict more blacks and other minorities in the housing ads they submit to the newspaper.

The policy announced yesterday is part of a settlement of a lawsuit against the Times by fair housing advocates, who complained that the paper's real estate ads used a disproportionate percentage of white models.

Donna Karan will offer shares

Donna Karan Corp. said it filed yesterday with the Securities and Exchange Commission to sell shares in an initial public offering.

Donna Karan, which makes the upscale Donna Karan apparel line and accessories, plans to sell 11 million shares at a price of $15 to $17 each.

MedImmune seeking $21 million

MedImmune Inc. said yesterday that it hoped to raise $21 million in a private placement of newly issued common stock with institutional investors.

The sale of 1.1 million shares at $18.50 per share is contingent on approval of the company's resale agreement with investors by the Securities and Exchange Commission. The stock closed yesterday at $22.25, up $1.25 a share.

NASA taps NYMA for contract

NYMA Inc., an engineering services company based in Greenbelt, has been selected by the National Aeronautics and Space Administration to negotiate a contract worth an estimated $180 million for research work at the Lewis Research Center in Cleveland.

Waverly, EMP scrap agreement

Waverly Inc., a Baltimore-based publisher of medical textbooks, said yesterday that it and Editorial Medica Panamericana (EMP), its Spanish-language counterpart in Argentina, have scrapped a June agreement under which Waverly would have acquired the Buenos Aires company.

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