Outlets Slipping Out of Fashion; Traditional Stores Counter as Off-Price Malls Overreach
Date: 15 January 1999
By Leslie Kaufman
Leslie Kaufman
Retail outlet industry has run into trouble after nearly a decade of explosive growth and outsized profit margins; Value Retail News says at end of October, sales in outlet center stores open at least a year were down nearly 2 percent; regional malls, by contrast, were up 3 percent; Prime Retail Inc, biggest player in field with 25 percent of all outlet space nationwide, expects Christmas sales to be below 5.9 percent growth entire retail industry experienced in 1998; outlet stores are facing increased competition from fashion-conscious discounters and sale-happy department stores; graphs; photo (M)
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Judge Refuses To Open Files On a Suspect In 2 Bombings
Date: 16 January 1999
By Benjamin Weiser
Benjamin Weiser
Federal Judge Shira A Scheindlin refuses to open secret court files pertaining to former US Army sergeant suspected of conspiring with Osama bin Laden in bombing of two US embassies in Africa last August; turns down request by The New York Times, which has identified sergeant as Ali A Mohamed, former Egyptian army officer now beind held in high-security cell in New York; Times lawyer Adam Liptak protests secrecy (S)
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NEXTLINK TO EXPAND VIA WIRELESS LICENSES
Date: 15 January 1999
By Bloomberg News
Bloomberg News
Nextlink Communications Inc will spend $832.7 million to expand its local and long-distance fiber optic networks with wireless licenses; Nextlink will acquire WNP Communications Inc for $695 million in cash and stock; it will also pay $137.7 million for Nextel Communications Inc's 50 percent stake in Nextband, joint venture between Nextel and Nextlink that owns more than 40 wireless licenses (S)
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MAYTAG AGREES TO BUY JADE RANGE
Date: 16 January 1999
By Bloomberg News
Bloomberg News
Maytag Corp acquires Jade Range for between $20 million and $25 million in cash and stock (S)5
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COKE BOTTLERS IN JAPAN BEGIN CONSOLIDATION
Date: 15 January 1999
By Bloomberg News
Bloomberg News
Coca-Cola Co will pay about $95 million for 5 percent stake in new Japanese bottling company created through acquisition by Kia Kyushu Coca-Cola Co of Sanyo Coca-Cola Co; deal sets stage for consolidation of Japan's soft-drink industry (S)
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HEALTHEON RENEWS PLAN FOR INITIAL PUBLIC OFFERING
Date: 15 January 1999
By Bloomberg News
Bloomberg News
Healtheon Corp, formed by Netscape Communications Corp chairman James H Clark, renews plans for initial public stock offering (S)
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FRANKLIN RESOURCES TO CUT 7% OF WORK FORCE
Date: 15 January 1999
By Bloomberg News
Bloomberg News
Franklin Resources Inc will take $58 million charge to cut 7 percent of its work force; Franklin will eliminate about 560 jobs (S)
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POMEROY COMPUTER SERVICE BUSINESS TO GO PUBLIC
Date: 16 January 1999
By Bloomberg News
Bloomberg News
Pomeroy Computer Resources Inc has split off its service business into new subsidiary that plans to go public through initial stock sale; Pomeroy Computer will retain controlling stake in unit, Pomeroy Select Integration Solutions Inc (S)/
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MONTGOMERY WARD PLANS TO CLOSE 56 STORES
Date: 16 January 1999
By Bloomberg News
Bloomberg News
Montgomery Ward Holding Corp will shut 39 Ward stores and 17 Auto Express stores and dismiss about 4,000 workers as part of revamping aimed at making it profitable; company has been operating under bankruptcy court protection since July 1997 (S)
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MAJOR GROCERY WHOLESALER CUTTING 220 JOBS
Date: 16 January 1999
By Bloomberg News
Bloomberg News
Fleming Companies is cutting 220 jobs, or 12 percent of corporate staff, as part of its plan to reduce overhead expenses (S)
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