Drivers set to strike DMTAbout 70 Teamsters drivers for...

BUSINESS DIGEST

May 19, 1994

Drivers set to strike DMT

About 70 Teamsters drivers for DMT Trucking Inc. were set to strike the Baltimore-based automobile hauler at midnight last night, union and company officials confirmed last night.

John Clemens, president of Teamsters Local 557, said the drivers would put up a picket line outside the company's Chesapeake Avenue terminal because, he charged, the company owes the union about $90,000 in pension contributions.

But Edward Gutman, attorney for the company, said DMT doesn't owe the money and will seek a restraining order against the union in federal court this morning.

Job cuts at Northrop Grumman

Northrop Grumman Corp., formed yesterday by the completion of Northrop's $2.2 billion purchase of Grumman, plans more job cuts this year as it eliminates duplicate functions at the aerospace concern, company Chairman Kent Kresa said.

The number of jobs to be lost is not yet known, but will be "small" compared with the 4,500 jobs that Northrop and Grumman previously had announced they would scrap this year because of reduced Pentagon spending, Mr. Kresa said.

7+ Northrop Grumman employs 45,000 people.

Bank president steps down

First Financial Corp. of Western Maryland, parent of First Federal Savings Bank of Western Maryland, said yesterday that Richard C. Deckerhoff has resigned as president of the bank to focus on strategic planning and leadership transition. Mr. Deckerhoff will continue as chairman of the bank and retain his offices with First Financial, the company said.

The Cumberland-based company said David C. Mathews, executive vice president of operations, was named chief operating officer of the bank to lead day-to-day operations.

New crane for Dundalk terminal

A new $7.4 million container crane for Dundalk Marine Terminal was approved yesterday by the state Board of Public Works. The contract was awarded to IMPSA International Inc. of Argentina, although state officials say more than half the work will be done in the United States.

The new crane was needed, port officials said, to accommodate increasing steamship business at Dundalk, the state's largest terminal.

Woolworth executives cleared

Woolworth Corp. said yesterday that a probe into accounting irregularities at the nation's 10th-largest retailer cleared its executives, but the company nonetheless named a new chairman and replaced its chief financial officer.

The company reinstated William K. Lavin, who had stepped down as chairman and chief executive during the investigation, as chief executive and vice chairman. Charles T. Young, who had temporarily relinquished his job as chief financial officer, resigned and was replaced by Andrew P. Hines.

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