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Comsat Corp

BUSINESS
April 8, 1995
Comsat CFO quits for new jobC. Thomas Faulders III, vice president and chief financial ZTC officer of Comsat Corp., has resigned to take the equivalent position at a Virginia company, the Bethesda-based satellite communications and entertainment company announced yesterday. Comsat said it has not yet named a replacement for Mr. Faulders.Mr. Faulders came to Comsat in 1992 from MCI, where was senior vice president of business marketing. He is going to BDM International Inc., a global information systems and technology services company based in McLean, Va.Consumer installment credit risingConsumers continued to pile up installment debt in February, the Federal Reserve Board reported yesterday, apparently ignoring indications that the economy may be slowing.
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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
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
June 3, 1995
Utah lawyer favored for SECA veteran Utah lawyer is the apparent front-runner for a Republican seat on the Securities and Exchange Commission, which will have three vacancies at the end of the month.Sen. Orrin Hatch, R-Utah, is formally backing Norman S. Johnson, 64, of Salt Lake City to join the five-member commission, Hatch spokesman Paul Smith said yesterday. Mr. Johnson said Sen. Bob Dole, R-Kan., forwarded his name to President Clinton in a May 16 letter.Comsat considers stock saleComsat Corp.
BUSINESS
September 2, 1994
Economy slows, but inflation doesn'tThe economy cooled in August but not enough to put the freeze on inflation, a widely followed survey of industrial companies showed yesterday.The National Association of Purchasing Management's August report showed activity at the nation's factories expanded at a much weaker pace than any time in the past eight months, suggesting that the economy is slowing down.But the survey showed the number of firms reporting higher prices for raw materials rose to the highest level in six years, suggesting that inflation pressures still menace the economy.
BUSINESS
By Edward Gunts | December 4, 1991
The First Maryland Building at 25 S. Charles St., Heaver Plaza in Lutherville and the PHH Corp. headquarters in Hunt Valley have been named the 1991 Buildings of the Year by the Building Owners and Managers Association of Baltimore.BOMA judges also selected The Brokerage at the Inner Harbor complex to receive a special award for its management by W. C. Pinkard & Co.These and other local buildings will receive Awards of Excellence during the 14th annual BOMA award ceremonies today starting at 6:30 p.m. at the Baltimore Museum of Art. More than 100 local office buildings were considered for awards, which recognize excellence in management and operations.
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.
BUSINESS
August 5, 1995
Local publisher is purchasedAdvance Publications Inc. agreed to acquire American City Business Journals Inc., the publisher of 28 local weekly business newspapers including the Baltimore Business Journal, for about $268.8 million, the companies said yesterday.The agreement calls for Advance Publications, a privately held media company controlled by the Newhouse family, to pay $28 per share for American City Business Journals' 9.6 million common shares.Advance Publications owns 22 daily newspapers, the book publisher Random House, the New Yorker magazine and Conde Nast Publications, the publisher of magazines including Vogue, Vanity Fair and Architectural Digest.
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
February 4, 1995
Sale of QVC approved by FTCTwo of the nation's largest cable companies received permission from federal regulators yesterday to acquire home shopping channel operator QVC Inc. for $1.42 billion.The Federal Trade Commission voted 4-0 to close an investigation into the acquisition by the nation's No. 1 cable company, Tele-Communications Inc., and Comcast Corp., which is No. 4.The FTC's investigation of the deal was prompted by concerns that it would violate antitrust laws. TCI controls QVC's closest competitor, Home Shopping Network Inc. FTC commissioners approved the deal over staff objections.
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