Miners end 7-month strikeThe United Mine Workers voted...

BUSINESS DIGEST

December 15, 1993

Miners end 7-month strike

The United Mine Workers voted yesterday to approve a five-year contract, ending a seven-month strike that reached seven states and involved some of the nation's largest coal operators.

The vote means that "about 95 percent" of the 17,500 striking miners would be back on the job by tomorrow morning, said UMW President Richard Trumka.

Sales of U.S.-built autos up 5.3%

Sales of domestically built cars and trucks rose a modest 5.3 percent in early December, automakers reported yesterday. But dealers said brisk business in November was carrying over into the holiday season.

Cars sold at an annualized rate of 7.1 million, and light trucks, including pickups and minivans, at a rate of 5.4 million. The Big Three -- General Motors Corp., Ford Motor Co. and Chrysler Corp. -- reported a 4.5 percent rise in early-December sales, with the gain coming mostly in the light-truck segment that they dominate.

U.S. chip makers surpass Japanese

After trailing the Japanese for years, the U.S. semiconductor industry has capped a remarkable turnaround by retaking the lead in chip production.

The U.S.-based research group Dataquest said yesterday that American chip companies narrowly outpaced Japan's, with 41.9 percent of the world semiconductor market in 1993, compared with 41.4 percent for Japanese makers. The U.S. share last year was 41.5 percent, to Japan's 42.3 percent, Dataquest said.

DeBartolo Realty delays IPO

The DeBartolo Realty Corp. yesterday delayed indefinitely an initial public offering of 31.6 million shares of common stock.

The company, which was formed to expand the regional mall business of the private Edward J. DeBartolo Corp., had announced the offering in September. Since then, the market for real estate investment trusts has declined 15 percent to 20 percent, a DeBartolo spokeswoman said.

Host Marriott halts talks on deal

Host Marriott Corp. said yesterday that it had suspended negotiations to acquire Cigahotels SpA, based in Milan, Italy.

Host Marriott said it did so because it had not been given access to information to meet offers from competing companies. The company said Marriott International would operate some or all of the hotels if an acquisition by Host Marriott is completed.

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