SSA renovation proceedsThe owner of a seven-story office...


January 24, 1995

SSA renovation proceeds

The owner of a seven-story office building that serves as a key component of the Social Security Administration's national headquarters in Woodlawn announced yesterday that it plans to proceed with a $28 million renovation.

The Cafritz Group Inc. intends to finance the renovation of the Security West Building with proceeds of a $56 million debt issue that will also retire existing debt. Whiting-Turner Contracting Co. will be the construction manager.

New video technology ready

Four of the world's largest consumer electronics companies are expected to announce a new technology today that could become the dominant force in the next generation of home video.

The four companies -- Toshiba Corp., Matsushita Electric Industrial Co., Pioneer Electronics Corp. and Thomson S.A. -- will demonstrate a digital technology that has been developed by Toshiba in cooperation with Time Warner Inc., which owns the Warner Brothers studio.

Fusion stock drop unexplained

Fusion Systems Corp. said yesterday that it knew of no business reason why its stock dropped $1.625, or 6 percent, from Friday's close.

In moderate Nasdaq trading, Fusion's stock dropped as low as $23.75 at noon yesterday, but it rallied to finish trading at $25.625.

The Rockville-based semiconductor supply company said yesterday that it expects to report sales of about $22 million for the fourth quarter.

Fusion announced Thursday that its chief financial officer had left for another company.

Merrill Lynch earnings plunge

Merrill Lynch & Co.'s fourth-quarter profits plummeted 53 percent as the impact of weak financial markets depressed revenues in all areas of the leading brokerage's key trading and underwriting businesses.

Merrill Lynch said yesterday that it earned $162 million, or 75 cents a share, in the three-month period ended Dec. 31.

Soft drinks buyout sought

Confectionary conglomerate Cadbury Schweppes PLC confirmed yesterday that it wants to become No. 3 in the U.S. soft drinks business with a cash buyout of Dr Pepper-Seven-Up Cos. Inc. London-based Cadbury would not say how much it expects to pay.

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