Soros loses top-earner titleHungarian-born financier...

BUSINESS DIGEST

June 15, 1995

Soros loses top-earner title

Hungarian-born financier George Soros was toppled as the highest earner on Wall Street last year for the first time in four years, according to a survey conducted by Financial World magazine.

Mr. Soros earned $70 million in 1994, a sharp fall from the $1.1 billion he took home in 1993, the magazine said, previewing an article in its July 4 issue.

The new leader on Wall Street was Tom Lee, the leveraged buyout king who made most of his $170 million when he sold Snapple Beverage to Quaker Oats.

Crystal resigns from Macy's

Richard Crystal, reportedly the pick for the top job at Merry-Go-Round Enterprises Inc., will resign his post at R. H. Macy Co. as of July 31, Macy's parent company said yesterday.

Federated Department Stores Inc. disclosed Mr. Crystal's resignation as it announced that it was considering the sale of Macy's Aeropostale and Charter Club boutique chains. Mr. Crystal, 50, runs those chains and is also head of product development for Macy's.

He has tentatively agreed to join Joppa-based Merry-Go-Round as chief executive, sources have said.

Conrail cutting 590 jobs

Conrail Inc. said it will eliminate 590 mid-level management and union jobs in a cost-cutting effort spurred by slowing rail traffic.

Volume at the Philadelphia-based railroad is down 6 percent this year, as the railroad feels the effect of a lagging economy, said Rudy Husband, a spokesman for the company.

The layoffs affect 113 mid-level managers. The 477 other lost jobs involve clerical workers, along with some maintenance, rail yard and dispatch personnel.

Survival earnings up for quarter

Survival Technology Inc. of Rockville announced yesterday that it earned $154,100, or 5 cents per share, in its third quarter, compared with $102,000, or 3 cents per share, in the same period a year earlier. Sales for the maker of medical supplies fell to $5.6 million from $6.0 million.

For the nine-month period that ended April 30, earnings were $203,000, or 7 cents per share, down from $1.16 million, or 37 cents per share, in the 1994 period. Sales fell to $17 million from $19 million.

Gray Kirk/VanSant wins Gold Effie

Baltimore ad agency Gray Kirk/VanSant won a Gold Effie for its humorous Baltimore Opera campaign at the American Marketing Association's annual competition in New York. It was the only Maryland agency to receive a gold.

The opera campaign also has won "Best in Show" awards in the Baltimore Addy competition and the South Show awards.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.