Teamsters reach tentative accordNegotiators for the...

BUSINESS DIGEST

April 29, 1994

Teamsters reach tentative accord

Negotiators for the Teamsters and 22 trucking companies reached a tentative agreement late yesterday that would increase members' pay and could end a 23-day-old nationwide trucking strike.

The Teamsters said the proposed agreement would block a move to introduce part-time workers but opens the way for more goods to move off the highways and into the rail system.

Representatives of union locals will review the agreement today, and members will vote by mail on whether to approve it.

General Nutrition fined $2.4 million

General Nutrition Inc. agreed yesterday to pay $2.4 million in civil penalties to settle charges by the Federal Trade Commission that the vitamin and food supplement retailer violated the terms of two previous agreements with the agency.

It was the largest civil penalty ever imposed by the FTC for violating an advertising order.

The company, the retail division of General Nutrition Cos. Inc. of Pittsburgh, failed to prove advertising and promotional claims it made for more than 40 products, covering disease treatment, weight loss, muscle building, increased endurance and hair loss, the FTC said.

Flop hurts 2 drugmakers' stocks

Shares of Alpha 1 Biomedicals Inc. and SciClone Pharmaceuticals Inc. plummeted yesterday after their major product, an eagerly awaited hepatitis drug, did no better than a placebo in a clinical trial.

Shares of Bethesda-based Alpha 1 lost 68 percent, to close at DTC $2, on the Nasdaq. SciClone shares closed down 60 percent, at $5.8125.

The drug, thymosin alpha 1, has been hailed as a potential new cure for hepatitis B.

UPS orders 600 Mack trucks

United Parcel Service has placed an order for 600 trucks equipped with engines built at the Mack Trucks factory in Hagerstown.

The UPS contract is the third-largest order announced by Mack in the past seven weeks. In early March, Mack officials said Matlack Inc. of Wilmington, Del., had placed an order for 759 tractors. Last week, officials announced a joint effort with parent company Renault V.I. to build 300 French military tank transport trucks.

Mack spokesman John Mies said it was too early to determine whether the new orders would increase employment at the 2,100-worker plant.

Port Liberty warehouse leased

Baltimore Resources Inc., a ship scrapper and recycler, has leased a 60,800-square-foot warehouse at the Port Liberty Industrial Center in South Baltimore.

The company will employ approximately 40 welders, material handlers and equipment operators. The long-term lease brings to 100 percent the occupancy rate of buildings at Port Liberty, a project of Struever Bros. Eccles and Rouse.

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