BIZWATCH : MARKETS.MARKET LOGIC: Stocks jumped back toward record levels Tuesday, led by technology and financial shares, after the inflation-leery Federal Reserve decided not to slow the economy with higher interest rates.The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. erased a 76-point morning deficit and rose 74.58 to 7,303.46, about 30 points shy of its all-time high set Thursday. MEMO FORMER FNN FNN Fuzzy Neural Network FNN Flat Neighborhood Network FNN Fox News Network FNN Funkeln Nagel Neu (band) FNN Financial News Network CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. SENTENCED TO JAIL: Los Angeles federal Judge Ronald Lew sentenced the former chairman and chief executive of Financial News Network and United Press International to 57 months in federal prison on a fraud conviction and imposed a $25,000 fine. Earl Brian, 55, was convicted Oct. 17 on 10 counts of securities fraud, bank fraud and conspiracy for inflating FNN's income by tens of millions of dollars in the late 1980s and early 1990s to fraudulently obtain more than $70 million in loans. His co-conspirators, former FNN Chief Financial Officer Steve Bolen and former UPI UPI abbr. United Press International CFO See Chief Financial Officer. Gary Prince, have entered guilty pleas to bank and securities fraud and conspiracy and will be sentenced in August. ?13- Daily News GLENFED TO BUY CITICORP LOANS: Glendale Federal Bank said Tuesday it will acquire an approximately $12 billion, fixed-rate mortgage loan portfolio consisting of more than 45,000 loans from Citicorp Mortgage Inc. Terms of the agreement were not disclosed. ?13- Daily News MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. HIRES RETAIL CONSULTANT: Metro-Goldwyn-Mayer has named veteran retail consultant Linda Berman as executive vice president for MGM Consumer Products with the goal of expanding the studio's retail presence. Berman has operated the Fig. 1 consulting firm and worked for Disney, Universal, ITT ITT Initial Teacher Training (UK) ITT I Think That ITT Invitation To Tender ITT Individual Time Trial (professional cycling) ITT Intention-To-Treat ITT In This Thread (forums) , Pepsi, Mattel, Viacom, Microsoft and the state of California. ?13- Daily News DTS (1) (Digital Theatre Sound) A digital audio encoding system used in movie and home theaters. Popularized by the movie Jurassic Park, the six-channel (5. SHIPS 10,000 UNITS: Westlake Village-based Digital TheaterSystems has announced it has become the first digital sound provider to ship more than 10,000 units to movie theaters, after shipping more than 1,200 systems in March and April. DTS said the recent activity had been spurred by its position as the exclusive digital sound provider for Universal's ``The Lost World: Jurassic Park'' sequel. DTS is partly owned by Universal and director-producer Steven Spielberg. ?13- Daily News NEW LINE HIRES PARAMOUNT EXEC: New Line Cinema named a top Paramount Pictures executive as the company's president of theatrical marketing. Cheryl Boone Isaacs, Paramount's former executive vice president for worldwide publicity, will join New Line next month. Isaacs will supervise advertising design and buying, publicity and promotions. At Paramount, she led publicity efforts for ``Braveheart,'' ``Mission: Impossible'' and ``Forrest Gump.'' ?13- Associated Press WARNER BROS. VIOLATED STATE CODE: The California Workers' Compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. Appeals Board recently found Warner Bros. had violated the state labor code when it discharged an employee working on the ``Step by Step'' television show. The board ruled that Paul Iannizzotti was entitled to all benefits and assessed the studio a $10,000 fine. Iannizzotti had claimed his discharge was based solely on the fact that he had applied for workers' compensation benefits. CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS What Latin viewers want Results of a study of Spanish-language TV viewers by Audits and Surveys of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Knight-Ridder Tribune Graphics Network |
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