Trucking firms, teamsters to meetThe Teamsters union and...

BUSINESS DIGEST

April 09, 1994

Trucking firms, teamsters to meet

The Teamsters union and as many as 18 regional truckincompanies will meet in Washington today to discuss the terms of an interim agreement that would end a walkout at their terminals.

Even if all 18 trucking companies reach an accord, the union will continue striking the Big Four carriers -- Consolidated Freightways Inc., Roadway Services Inc., Yellow Corp. and Arkansas Best Corp. -- which employ about 70,000 drivers and freight loaders.

The strike by 80,000 Teamsters entered its third day yesterday.

3 bidders seek Ford bank unit

The auction of the Ford Motor Co.'s First Nationwide Banunit heads into its final days with three bidders in the running.

Ford has set Monday night as the deadline for bids for its savings and loan business and will decide next week whether to sell First Nationwide to the Golden West Financial Corp. of Oakland, Calif.; Madison Financial Inc. of Dallas or to a joint effort by the Great Western Financial Corp., based in Los Angeles, and Lehman Bros., the investment banking company in New York.

Ford hopes to get at least $1.2 billion from the sale of First Nationwide, reflecting the purchase price of $496 million that Ford paid in 1985 and the money it spent to prop up the savings bank during the real-estate slump in the 1980s.

Cryomedical stock leaps 21%

Cryomedical Sciences Inc. stock rose 21 percent yesterday after the company shipped a prototype surgical tool that can be used with magnetic image resonance systems.

The Rockville-based company makes a tiny probe that can be inserted into the skin to freeze and destroy diseased tissue.

A new model of the probe was made out of nonmetallic materials so it could be used with MRI systems.

Cryomedical Sciences stock closed 50 cents higher, at $2.875, i Nasdaq trading.

4-oz. device gives game updates

A new palm-sized device that looks like a pager and weighs less than 4 ounces gives baseball fans updates on games in progress with less than a two-minute delay.

The Toronto Blue Jays are test-marketing the SportsTrax product this season, but the Motorola Inc. product may be available in the United States next season.

The battery-powered unit has a 1 1/2 -inch screen that displays a baseball diamond and icons of players at bat and on the bases. It indicates the inning, team at bat and updates the number of outs at a glance. A sound system offers a variety of audible alerts with a beep indicating the end of an inning and a siren signaling a home run.

Each unit will be programmed to track the games, home or away, of one team. Major League Baseball Properties has licensed the product and is selling it for $149, which includes three seasons of game updates.

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