Boeing reduces layoff estimateThe Boeing Co. will...

BUSINESS DIGEST

October 02, 1993

Boeing reduces layoff estimate

The Boeing Co. will eliminate 18 percent fewer jobs than planned through mid-1994, company officials said yesterday.

Of the 23,000 job cuts planned in 1993, 5,000 have been postponed until the first half of next year, and 5,000 that were scheduled between Jan. 1, 1994, and June 30, 1994, have been deferred indefinitely, a Boeing spokesman said. The announcement was greeted with relief in the Puget Sound area, home to nearly three-fourths of Boeing's work force, and in Wichita, Kan., where Boeing is the biggest private employer.

United, Lufthansa to team up

United Airlines and Lufthansa German Airlines are about to team up and join the air travel industry's growing list of alliances that let rival carriers share passengers, sources said yesterday.

Lufthansa had been courting United and American Airlines, but United will be the partner announced by the German carrier at a news conference tomorrow in Frankfurt, according to airline sources who spoke on condition of anonymity.

First Tennessee completes deal

First Tennessee National Corp. said yesterday it has completed the purchase of Maryland National Mortgage Co., which originates and services loans in six states.

First Tennessee paid $114 million for Maryland National and its subsidiary, Atlantic Coast Mortgage Co., which operates 31 offices in Maryland, Virginia, Pennsylvania, Delaware, New Jersey and Colorado. The Maryland mortgage company originated $3.3 billion in single-family mortgages in 1992 and has a portfolio of about $4 billion.

NBC gains stake in Super Channel

The NBC television network and Credit Lyonnais N.A., the giant French state-owned bank, have acquired a majority stake in the largest programming service in Europe.

NBC, a unit of General Electric Co., will own more than 50 percent of Super Channel, an advertiser-supported satellite programming service. The service was sold by the Marucci family of Lucca, Italy. Along with Credit Lyonnais, NBC will own roughly 75 percent of London-based Super Channel. The rest will be owned by British financier Richard Branson's Virgin Group.

Mariner to buy Laurel facility

Mariner Health Care Inc., which provides transition medical care for people discharged from hospitals too soon to return home, plans to acquire a second location in Maryland. The Mystic, Conn., company said it would buy the 177-bed Greater Laurel Nursing Home in a $9 million deal that it expects to complete early in the fourth quarter.

@

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.