A Business story Saturday misidentified the federal agency that is seeking bids for a $1.5 billion computer system known as CORN. The agency is the Federal Aviation Administration. (Published 2/12/91)
request for a second public hearing on the conflict-of-interest case against him was denied by Office of Thrift Supervision Director Timothy Ryan. The case stems from Bush's role as a director of the failed Silverado S&L of Denver.
said it lost $10 million in 1990, compared with a 1989 profit of $355 million, and reported a loss of $121 million in the fourth quarter, compared with a profit of $116 million a year earlier.
chairman of CBS, and his family have reduced their stake in Bank of Boston Corp. to 8.4 percent from 9.9 percent and in Continental Bank Corp. of Chicago to 7.3 percent from 8.5 percent.
Saab Automobile AB,
which is half owned by General Motors, announced plans to close an assembly plant in Malmo, Sweden, because of a sharp decline in Saab sales.
rejected an offer by financier Harold Simmons to drop a proxy fight for control of the aerospace and defense company in return for three seats on the Lockheed board.
will take over management of the Guest Quarters hotel in Bethesda.
Mortgage rates fell.
Fixed-rate mortgages averaged 9.36 percent this week, down from 9.56 percent last week, while one-year adjustable rate mortgages had an average initial rate of 7.68 percent, down from 7.75 percent last week, the Federal Home Loan Mortgage Corp. said.
The Big Three automakers
said 23 of their U.S. and Canadian assembly plants will be shut down next week, resulting in the temporary layoffs of 61,500 workers.
Scripps Howard Broadcasting
terminated its agreement with Gillett Broadcasting to buy WMAR-TV in Baltimore. Scripps Howard had agreed Aug. 7 to pay $154.7 million for the station, but said it called off the deal because some conditions had not been met. Gillett said it has sued Scripps Howard for terminating the accord.
issued a new request for bids for a $1.5 billion computer system known as CORN. The bidding process was suspended in September amid criticism from a House committee that it was poorly thought out and restricted competition.
and the Justice Department reached a settlement relating to charges that Fairchild's VSI unit improperly tested aerospace fasteners. VSI will pay the government $2.5 million in punitive damages and an estimated $1 million in court costs.
Gov. Bruce Sundlun
signed into law a plan to resolve Rhode Island's banking and credit union crisis. Rockwell International won a $97.9 million Army contract for Hell Fire missiles.