Merry-Go-Round cuts shiftMerry-Go-Round Enterprises Inc...

BUSINESS DIGEST

September 09, 1994

Merry-Go-Round cuts shift

Merry-Go-Round Enterprises Inc. is all but eliminating the evening shift at its Joppa warehouse and laying off 24 people, President Michael D. Sullivan said yesterday.

Fewer people are needed in the company's distribution center because it has closed more than 150 unprofitable stores this year, he said.

Merry-Go-Round, a national fashion chain that is operating under Chapter 11 bankruptcy protection, has about 1,300 stores and employs 900 in Joppa.

Panel approves warehouse plan

The Baltimore planning commission yesterday approved a state-backed plan to subdivide and retrofit the old Montgomery Ward & Co. Inc. warehouse in Southwest Baltimore.

The approval allows the state to lease the building to two manufacturing firms who would use it as a distribution center.

The vote clears the way for a plan to keep the two companies, PTP Industries Inc. and air-freshener maker Medo Manufacturing Corp., from moving out of state.

Judge OKs Macy-Federated merger

A federal bankruptcy judge approved yesterday the proposed merger of Federated Department Stores Inc. and R. H. Macy & Co.

U.S. Bankruptcy Judge Burton Lifland in New York signed an order clearing the merger agreement, which already has been approved by Federated shareholders.

The transaction still must win the approval of the New York State attorney general and creditors of Macy, which is operating under Chapter 11 bankruptcy protection.

New company to create 300 jobs

A start-up company making a new emergency brake for tractor-trailers is expected to create 300 jobs in Allegany County, where inventor George Percy Jr. has decided to assemble his product.

Mr. Percy said he and other principals of Emergency Brake Technologies Inc. have raised $500,000 of the $1.5 million needed to begin production.

First National selects Doner

The First National Bank of Maryland said yesterday that it selected W. B. Doner & Co. as the bank's advertising agency. Doner replaced Hottman Edwards Advertising of Baltimore, which held the account for 20 years. The companies did not disclose the size of the account.

Washington Savings' profits fall

The Washington Savings Bank F.S.B. reported a 27 percent decline in earnings during the company's fourth fiscal quarter that ended July 31. Earnings fell to $435,000 in the latest &L three-month period compared with $598,000 a year earlier.

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