An item in Friday's Business section may have misrepresented the reason for layoffs at Geostar Corp. and the status of the company's search for a new corporate partner. The company has not yet entered into a relationship with such a partner. (Published 1/6/91)
Sales of new homes rose
in November for the first time in five months, the Commerce Department said. The National Association of Realtors also said lower prices and rising incomes in November made homes the most affordable in 13 years.
a Roanoke-based clothing chain of 58 stores in six states, has filed for reorganization in federal bankruptcy court. Sidney Weinstein, principal owner of the family business, said the general decline in the economy and the downturn in retailing made the action necessary.
Bank of New England
is expected to announce today that it will post a huge fourth-quarter loss that could wipe out its net worth and jeopardize a rescue plan proposed last month by its bondholders, reported the Boston Globe.
emerged from bankruptcy after nearly five years.
of Washington laid off an undisclosed number of its approximately 65 employees. The satellite communications company, which lost $10.5 million in 1989, said the cuts were made because certain functions had been assumed by equipment makers and a new corporate partner.
charged in an antitrust suit that the nation's top three makers of infant formula -- Abbott Laboratories, American Home Products and Bristol-Myers Squibb -- conspired to drive up prices and keep other firms out of the industry.