Construction remains mixedThe housing construction market...

BUSINESS DIGEST

October 11, 1994

Construction remains mixed

The housing construction market remained bullish in August but commercial construction continued its deep sag, according to data released by the Baltimore Metropolitan Council.

The council reported that building permits for single-family homes rose 10.5 percent from August 1993, a pace close to the 12 percent gain in permits for the year to date. Builders have taken out 7,296 permits for new single-family homes this year through August, the council said.

Permits for multifamily housing such as apartments and condominiums fell 10.5 percent and are off 26 percent for the year to an eight-month total of 1,606 units.

Commercial construction was off sharply, even from depressed 1993 levels. Developers won permits for only $48 million worth of new non-residential construction, down 33 percent.

Sprint, cable operators meet

A group of the nation's biggest cable television companies is talking with Sprint Corp., the nation's third-largest long-distance carrier, about collaborating on a nationwide wireless telephone network, the New York Times reported yesterday.

The cable companies -- which include Tele-Communications Inc. Denver; Cox Enterprises of Atlanta and Comcast Corp. of Philadelphia -- all want to compete in the telephone market but are looking for partners with well-known brand names, experience and money.

People familiar with the talks confirmed yesterday that Sprint had broken off negotiations with Bell Atlantic Corp. and Nynex Corp., which have pooled their own cellular properties and are also racing to build a national wireless system.

Continental cuts fares up to 30%

Continental Airlines said yesterday that it is offering discounts of up to 30 percent on some airfares for travel through Feb. 10.

The deepest discounts come on tickets for flights Monday through Thursday, but lesser discounts apply to flights during the peak Friday through Sunday period. Discounted tickets, available for domestic and some international routes, must be purchased by Oct. 21.

Continental is the fastest-growing airline at Baltimore-Washington International Airport, with 40 flights, having more than quadrupled its departures there over the past year.

Apple stock rises on rumors

Apple Computer Inc. stock rose to a 52-week high yesterday, amid rumors that IBM would either buy a minority stake or was near an agreement to share a standard computer hardware.

Shares of Cupertino, Calif.-based Apple closed at $38.875 on the Nasdaq stock market, up $1.875 over Friday's close. International Business Machines Corp. shares rose 37.5 cents, to $71.50, on the New York Stock Exchange.

Both companies declined to comment.

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