BIZWATCH : MARKETS.MARKET LOGIC: Wall Street took investors on yet another wild ride Friday, with 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. losing as much as 177 points only to finish with a loss of just over 6. The Dow was down nearly 125 points at 7,769 with about 30 minutes left to the session, but ricocheted back to 7,887.91 by the close, down 6.04 for the day and up 193.25 for the week. MEMO TARRANT BUYS B.U.M.: Los Angeles-based Tarrant Apparel Group has agreed to buy the assets of bankrupt B.U.M. International Inc. for $23.8 million. The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Central District of California will consider Tarrant's offer Sept. 3. B.U.M. International markets a line of clothing under the B.U.M. Equipment label. The company is in a Chapter 11 reorganization. ?13- Daily News WARNER SAYS IT'S EXPANDING DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. : Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . said it has sold more the 1.2 million copies of digital versatile disc digital versatile disc or digital video disc (DVD), a small plastic disc used for the storage of digital data. The successor media to the compact disc (CD), a DVD can have as much as 26 times the storage capacity of a CD. , or DVD, titles in five months, despite limiting sales to seven major U.S. markets. Warner expanded the new format, which features top-quality video and sound along with extensive background information, on Friday into retail outlets nationwide. ``We are extremely encouraged by the consumer response to this product,'' said Warren Lieberfarb The Father of DVD Warren N. Lieberfarb is chairman of Warren N. Lieberfarb & Associates LLC (WNLA), a consulting and investment firm specializing in the media, entertainment, technology and retail industries. , president of Warner Home Video Warner Home Video is the home video unit of Warner Bros. Home Entertainment Group, a division of Warner Bros. Entertainment, Inc. It was founded in 1978 as WCI Home Video (for Warner Communications, Inc.). It was re-named Warner Home Video in 1980. . The discs carry a suggested retail price of $24.98. ?13- Daily News POLYGRAM UNVEILS NEW LOGO: PolyGram will launch a new logo for its movie distribution operation, which is about to release its first movie, ``The Game.'' The logo, dubbed Victoire, is inspired by the ancient Greek statue known as ``The Winged Victory of Samothrace.'' ``The logo conveys PolyGram's vitality and momentum as we move into new territory, the next century and the forefront of the film industry,'' said Michael Kuhn, president of PolyGram Filmed Entertainment. ?13- Daily News NEW MEXICO COMPANY BUYS RITZ-CARLTON: A New Mexico hotel investment group reportedly has bought the luxury Ritz-Carlton resort in Laguna Niguel for about $225 million. Strategic Hotel Capital Inc. agreed to buy the 393-room oceanfront and hilltop property from its owner, Prudential Insurance Co. of America. Strategic is a new partnership made up of New Mexico-based real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. Security Capital Group and investment bankers Goldman, Sachs & Co. The Ritz-Carlton reportedly will be the centerpiece of a deal that eventually will include other hotel properties. The Ritz at Laguna Niguel, where room rates average $225 a night, is considered one of the most successful operations in the chain of 32 Ritz-Carltons, including those in Pasadena, Marina del Rey, Palm Springs and San Francisco. ?13- City News Service EARNINGS Camera Platforms International Inc. North Hollywood-based movie equipment company June 2nd Qtr. 1997 1996 Sales$1.035 million $779,000 Net Income (Loss) ($273,000)($438,000) Net Per Share (2 cents) (4 cents) CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS Health insurance premiums Monthly average worker contribution for single and family health insurance premiums: Knight-Ridder Tribune Graphics Network |
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