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Comsat Corp

SPORTS
August 11, 1992
BaseballOrioles -- Signed 2B Jecen Martinez, the son of former P Tippy Martinez.Chicago White Sox -- Placed SS Craig Grebeck on the 15-day DL. Recalled IF Shawn Jeter from Triple-A Vancouver.Los Angeles Dodgers -- Placed P Tom Candiotti on the 15-day DL. Recalled P Kip Gross from Triple-A Albuquerque.Montreal Expos -- Announced that P Mike LaCoss, 36, released in July 1991 by the San Francisco Giants, will begin pitching this week with Triple-A Indianapolis.Oakland Athletics -- Activated 2B Lance Blankenship from the 15-day DL. Designated P Gene Nelson for assignment.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | March 25, 1997
Comsat Corp. announced its long-awaited restructuring plan yesterday, but instead of winning cheers from Wall Street, the news was met with a yawn.Bethesda-based Comsat said it plans to sell or spin off its 81 percent stake in money-losing Ascent Entertainment Group Inc. of Denver, which owns the National Basketball Association's Denver Nuggets and the National Hockey League's Colorado Avalanche in addition to the SpectraVision hotel movie-delivery business...
BUSINESS
May 27, 1994
Law broadens fiduciary protectionA bill to give people with fiduciary investment powers further protection against lawsuits was signed into law by Gov. William Donald Schaefer yesterday. The so-called "Prudent Investor Rule" broadens the investment guidelines that are considered prudent for trustees and other fiduciaries who invest securities on behalf of another person.The bill, sponsored at the behest of the state banking industry, protects fiduciaries against lawsuits based on any individual investment decision, and instead requires the court to assess the performance of an entire portfolio.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | April 22, 1995
Comsat Corp., the Bethesda-based communications satellite and entertainment company, reported the type of quarter that tests investors' patience yesterday, reporting a 28 percent earnings decline while insisting the company's long term plans are on course.First-quarter earnings came to $22.9 million, or 31 cents a share, down from $32 million in the same quarter a year ago, or 43 cents a share. Revenues rose 4 percent to $207.9 million, compared with $200.5 million in the first quarter last year.
BUSINESS
June 27, 1995
Deal to create health care giantUnited HealthCare Corp. said yesterday it will buy MetraHealth Cos. for $1.65 billion in cash and stock, creating the largest U.S. managed-care company.By purchasing privately held MetraHealth, Minnetonka, Minn.-based United HealthCare moves into all 50 states and boosts its ability to compete on the East Coast. After the acquisition, United HealthCare will jump ahead of U.S. Healthcare Inc. as the country's No. 1 health-care provider.Investor buys USAir preferredEverest Capital Ltd. and its affiliates have acquired a 9.3 percent stake in a class of preferred stock issued by USAir Group Inc.The investors paid $14.13 million to acquire 396,100 shares of USAir's Series B cumulative convertible preferred stock, according to a Schedule 13D filed yesterday with the Securities and Exchange Commission.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | March 5, 1996
Comsat Corp. said yesterday that News Corp. Ltd. has terminated a $100 million contract with the Bethesda-based communications company for satellite capacity to distribute television programming from the United States and Brazil directly to homes throughout Latin America.Comsat spokeswoman Janet Dewar said the cancellation represents "a material" loss of business for the company. She said it was not Comsat's biggest contract, but it was one of its biggest in recent years.The termination of News Corp.
BUSINESS
By Michael Dresser and Michael Dresser,SUN STAFF | April 20, 1996
Comsat Corp. reported lower earnings yesterday for the first quarter of 1996 even as it continued to hint at bluer skies ahead.The Bethesda-based satellite telecommunications company posted earnings of $9.3 million, or 19 cents a share, down from $14.6 million, or 31 cents a share, in the first quarter of 1995. Revenues increased to $245.7 million, an increase of $37.8 million over $207.9 million in the year-ago quarter, but a $41.8 million increase in costs more than offset the gains.Bruce L. Crockett, Comsat's president and chief executive officer, put a positive spin on the results.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 16, 1999
Comsat Corp., the satellite communications company that plans to be taken over by Bethesda neighbor Lockheed Martin Corp., said yesterday that its third-quarter earnings and revenue were down from last year.Comsat posted a net loss of $18.4 million, or 35 cents per diluted share, compared with net income of $6.6 million -- 12 cents per share -- in the comparable quarter of 1998. The earnings figures for the quarter that ended Sept. 30 were dragged down by one-time factors, including a $36 million write-off of its direct investment in ICO Global Communications Ltd. and $5.3 million in costs related to the pending acquisition by Lockheed.
BUSINESS
July 21, 1995
Lotus takes over IBM desktopInternational Business Machines Corp. said it will market most of its software for desktop computers chiefly under the Lotus name, and its new Lotus Development Corp. unit will oversee most development of desktop software.The two companies also said Lotus' key product, Notes, will become their single product in "groupware," or software that allows computers in a network to share information.The announcement follows the completion two weeks ago of IBM's $3.52 billion acquisition of Lotus.
BUSINESS
June 4, 1994
Auto sales up 2.9 percent in MayU.S. sales of cars and trucks during May rose 2.9 percent over a year earlier but slipped from their torrid pace in March and April as dealers ran short of a number of popular models, automakers said yesterday.Automakers sold a total of 1.35 million cars and trucks in the United States during May, up from 1.32 million a year earlier.But the seasonally adjusted annual sales rate for the month fell to 14.6 million units, down from 15.9 million in March and 15.3 million in April.
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