BIZWATCH : MARKETS.MARKET LOGIC: 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. took its third big spill spill - register spilling in four sessions Wednesday, wiping out almost all that remained to this year's robust gains. The Dow fell 94.04 to 6,517.01. Less than a month ago, it set an all-time high at 7,085.16. MEMO LAUTZ RESIGNS AS 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. OF INDENET: Robert W. Lautz Jr. has resigned as chairman and chief executive officer of Encino-based IndeNet Inc.Andre A. Blay, who has been an outside member of the board for the past two years, has been appointed chairman. Graeme R. Jenner, who has been chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. since October 1996, is appointed chief executive officer effective immediately. IndeNet markets broadcast management software systems and provides duplication duplication /du·pli·ca·tion/ (doo-pli-ka´shun) 1. the act or process of doubling, or the state of being doubled. 2. and delivery services. HOUSE OF FABRICS GETS NEW CEO: The Sherman Oaks-based company named Donald L. Richey president and chief executive officer Wednesday. He was also elected to the company's board. Richey, 53, succeeds Gary L. Larkins, 54, who was named to the newly created post of vice chairman in December. Richey was most recently executive vice president and chief operating officer of Fabri-Centers of America, a Hudson, Ohio-based specialty retailer with approximately 950 stores and $800 million in annual revenue.House of Fabrics currently operates 262 company-owned House of Fabrics, Sofro Fabrics, Fabricland and Fabric King retail fabric and craft stores in 28 states and employs approximately 7,000 people. CAL AMP BUYS MICRO PULSE: Camarillo-based California Amplifier Inc. has agreed to acquire a 50.5 percent controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Micro Pulse Inc., a company in which California Amplifier had previously held a 50 percent equity interest. California Amplifier, which purchased its previous equity interest in 1993 for $500,000, acquired the additional ownership in Micro Pulse by contributing $100,000 to Micro Pulse equity as a reduction in amounts owed to California Amplifier under a prior borrowing arrangement. Micro Pulse designs, manufactures and markets antennae for the global positioning system Global Positioning System: see navigation satellite. Global Positioning System (GPS) Precise satellite-based navigation and location system originally developed for U.S. military use. and other wireless applications. California Amplifier manufacturers microwave equipment. LITTON GETS TAIWANESE CONTRACT: The Woodland Hills-based industrial giant received a $116.2 million contract for radar-warning systems to be installed on the military's fighter planes, the company said. The contract includes $111 million for production of the Improved Radar Warning Receivers “RWR” redirects here. For other uses, see RWR (disambiguation). Typically fitted to military aircraft, radar warning receivers (RWR) detect the radio emissions of radar systems, whether ground-based or on-board other aircraft. and $5.2 million for support and training activities. The systems will be produced at Litton's Grant Pass, Ore., facility. EARNINGS Electro E`lec´tro n. 1. An electrotype. Rent Corp. Van Nuys-based rental specialist for computers and electronic test equipment Feb. 3rd Qtr. 1997 1996 Sales $36.8 million $33.91 million Net Income $5.84 million $4.93 million Net Per Share 47 cents 40 cents Nine Months Ended Feb. 28 1997 1996 Sales $96.88 million $87.89 million Net Income $18.89 million $15.6 million Net Per Share $1.52 $1.27 Results reflect improved rental and lease income, led by computers CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS WOMEN OF A CERTAIN AGE Percent of women business owners Many online and offline organizations have been created to collect information about businesses around the world owned and operated by women. Many other organizations have been created to assist the women that own and operate those businesses. who are ages 35 to 54, by country or area Knight-Ridder Tribune Graphics Network |
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