BIZWATCH.MARKED DOWN: Kmart, down -1/2 to 6-1/2. The troubled retailer's bond rating was downgraded Friday to junk status by Standard & Poor's, which said Kmart had lost significant market share to more efficient and profitable discounters such as Wal-Mart. BONDS CLOSED: The Treasury market was closed Monday for the Martin Luther King Jr. federal holiday. SUPERHIGHWAY BLOCK: Pacific Telesis has halted work on its plans to bring television over phone lines in Los Angeles County because of a permitting roadblock, executives disclosed Monday. Instead, the company initially will deploy another technology in the region - TV over a wireless network, said Lee Camp, chief executive of Pacific Telesis Enhanced Services. MICRO MANAGING:Microsoft Corp. plans to buy Vermeer Technologies Inc. and incorporate Vermeer's World Wide Web publishing software into its top-selling suite of office programs. The move is to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. today. NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. THINKS AGAIN: The president of NBC says his network is reconsidering support of the telecommunications overhaul bill, escalating the fight against a proposal to charge broadcasters for channels to implement the next generation of television. Bob Wright's comments Monday were prompted by Sen. Bob Dole's call last week for a revision of the bill to make broadcasters pay up to $70 billion for the second channel they'll each need to implement the new service, which uses digital technology to provide movie-quality pictures and CD-quality sound. PRINCELY prince·ly adj. prince·li·er, prince·li·est 1. Of or relating to a prince; royal. 2. Befitting a prince, as: a. Noble: a princely bearing. b. CHOW: Coming soon to a store near you, a right royal meal that benefits both body and conscience. Prince Charles, whose Duchy Originals oat oat member of the plant genus Avena in the family Poaceae. oats see avenasativa. oat grain seed of Avena sativa, and as 'oats' the favored grain for the feeding of horses. biscuits and ginger cookies already are sold to Americans, is adding herb cheeses, nonalcoholic non·al·co·hol·ic adj. A beverage usually containing less than 0.5 percent alcohol by volume. herbal soft drinks and orange cookies - all but the drinks are organic - to the repertoire, Duchy Originals said Monday. Profits, when they come, will go to the Prince of Wales Prince of Wales switches places with his double, poor boy Tom Canty. [Am. Lit.: The Prince and the Pauper] See : Doubles Charities Trust MONEY MATTERS PURCHASING POWER Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. :Five black religious groups unveiled a new company Monday that will pool the purchasing power of black consumers to give them greater access to a wide variety of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Leaders of the for-profit company, Revelation Corp. of America, said the aim is to help black consumers acquire home mortgage loans, life and auto insurance, food products and durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. . Revelation, based in Memphis, Tenn., hopes to reach 20 million members in 43,000 churches nationwide. Backers hoped to have Revelation up and running before spring. EXECUTIVE FILE BONUS TERRITORY: Loral Corp. Chairman and Chief Executive Bernard Schwartz is expected to receive $18 million for engineering the sale of his company's defense businesses to Lockheed Martin Corp. Schwartz is entitled to the payment once Lockheed Martin's proposed $9.1 billion acquisition of most of Loral takes effect, according to a filing with the Securities and Exchange Commission. In addition to the $18 million, Schwartz is expected to receive about $140 million for his Loral stock. CAPTION(S): CHART Chart (1--Color) BIZ FACTS Leasing trends Percent of new cars and light trucks operated by consumers that were leased, 1986 and 1995 Knight-Ridder Tribune Graphics Network (2--Color) DOW INDUSTRIALS |
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