Martin, UAW reach tentative pactThe United Auto Workers...

BUSINESS DIGEST

December 08, 1993

Martin, UAW reach tentative pact

The United Auto Workers has reached a tentative agreement on a three-year contract covering about 1,500 workers at Martin Marietta Corp.'s plants in Middle River, Denver and in Orlando, Fla.

Kenneth Miles, the bargaining chairman of UAW Local 738, which represents about 400 workers at Middle River, said the agreement does not address all the union's demands but represented a significant improvement over the company's earlier offer. He said the local union would recommend that its members vote to ratify the agreement at their meeting at 10 a.m. Saturday.

Flight attendants strike costly

The strike by American Airlines' flight attendants reduced profits by at least $160 million and cost the carrier 1.3 million passengers over the five days of the walkout, the airline said yesterday.

The company repeated its earlier forecast that the strike would contribute to a loss for the final quarter of the year and all of 1993.

American Cafe chain has buyer

Magic Restaurant Inc. of Yonkers, N.Y., has agreed to buy the American Cafe, a 15-restaurant chain in the Baltimore-Washington region, from W. R. Grace & Co. The sale, for $3.5 million in cash and notes, is expected to be completed by Feb. 15.

Magic announced in September that it had signed a letter of intent for the purchase.

French buy United Thermal

United Thermal Corp., parent company of the Baltimore Thermal Energy Corp., has been sold to the French-owned Trigen Energy Corp. The purchase price was not disclosed.

The local operation, which provides steam to various buildings in Baltimore, will now be known as Trigen-Baltimore Energy Corp.

Merry-Go-Round disputes column

Merry-Go-Round Enterprises Inc. denied yesterday that it has plans to close 150 of its 1,461 stores, as reported in Dan Dorfman's USA Today column on Monday.

The company, which has recorded poor sales in recent months, announced previously that it will close 30 stores over the next two years, as well as 50 Chess King stores that it acquired in the spring.

World Technology merger off

National Industrial Security Corp. of St. Louis said yesterday that it has canceled plans to merge with World Technology Group Inc., a Baltimore-based distributor of hardware and industrial supplies and owner of the rights to the Albert Gunther name. National Industrial said the Baltimore company failed to meet financial goals in the contract.

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