Provident restates earningsProvident Bankshares Corp...

BUSINESS DIGEST

August 19, 1993

Provident restates earnings

Provident Bankshares Corp., parent of Provident Bank of Maryland, yesterday restated its first- and second-quarter earnings because of an accounting change. The company decided to shift a previously announced $733,000 charge to the first quarter from the second quarter.

The changes mean that Provident earned $2.6 million, or 40 cents a share, in the second quarter, which ended June 30, and $870,000, or 14 cents a share, in the first quarter.

2 firms offer to buy Nutri/System

Two Ohio diet firms have jointly offered to buy Nutri/System Inc. for $15 million in cash, a move that could derail an agreement between Nutri/System's bank creditors and Chicago entrepreneur Michael E. Heisley.

Physicians Weight Loss Centers of America Inc. and the Calorie Shop Weight Loss Centers of America Inc. disclosed at a hearing in U.S. Bankruptcy Court in Philadelphia that they had submitted the bid late Tuesday for the debt-ridden Nutri/System diet company of Blue Bell, Pa.

Panel to issue report on airlines

A federal commission formed to help the battered airline industry will issue its final report to President Clinton and Congress today. The report by the National Commission to Ensure a Strong Competitive Airline Industry, formally approved by the group earlier this month, calls for tax and regulatory relief.

1st daily tabloid for women

The nation's first daily tabloid for women will hit newsstands in October, publisher Steven Hoffenberg announced yesterday. Her New York will appear Monday through Friday and will cost 50 cents a copy.

GAO faults SEC mailroom

A General Accounting Office report said the Securities and Exchange Commission's mailroom procedures have hindered the agency's efforts to disclose market-sensitive data on a timely basis.

Perot to release book on NAFTA

Ross Perot, one of the most vocal critics of the North American Free Trade Agreement, said he would soon release a book saying why the treaty must be defeated.

AT&T card available to students

AT&T Universal Card Services announced it is making its credit card available to college students with no annual fee for life and a discount on long-distance telephone calls.

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