BRIEFCASE RECORD ACADEMY NAMED IN LAWSUIT.Byline: - From staff and wire reports Dick Clark
Richard Wagstaff "Dick" Clark (born November 30, 1929) is an Emmy Award-winning American television, radio personality, game show host and businessman, he served as has filed an amended version of his lawsuit against the head of the recording academy over the show's booking practices. A hearing on a challenge to Clark's suit was pulled off calendar Tuesday in response to the amended Superior Court lawsuit, which was filed Thursday. Clark's Burbank-based Dick Clark Productions Inc. originally sued National Academy of Recording Arts and Sciences The National Academy of Recording Arts & Sciences, Inc. is known variously as The Recording Academy or NARAS. Established in 1957, The Recording Academy is a U.S. President and 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. C. Michael Greene in December. The $10 million suit alleges the academy blacklists performers who perform on Clark's American Music Awards, preventing them from also appearing on the Grammy Awards Grammy Awards Annual awards given by the Recording Academy (officially the National Academy of Recording Arts and Sciences). The first Grammies (the name is a dimunitive of “gramophone”) were given in 1958. ceremony. The new complaint is quite similar to the December version except that it explicitly names the National Academy of Recording Arts and Sciences as a defendant, while the first version named only Greene. No further hearing date has yet been set in the case. Vivendi reports $11.8 million loss PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. - French media giant Vivendi Universal on Tuesday reported a massive 13.6 billion euro ($11.81 million) net loss in 2001 - largely to account for a buyout spree - but provided a bullish outlook for 2002. Vivendi, parent of the Universal music and movie studios, said the loss came amid a $13.6 billion charge to write down goodwill - the difference between the price paid for an asset and its book value - as it adopts U.S. accounting principles. By shifting from French accounting procedures to U.S. generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , Vivendi hopes it will be easier to build its empire in the United States and to raise its profile among American investors. The switch to U.S. rules will be finalized in the first quarter of 2002. Money ills delay Kmart statement TROY, Mich. - Kmart Corp. will delay the release of its fourth-quarter and full-year earnings as a result of its Chapter 11 bankruptcy filing, the company said. Earnings had been scheduled to be released Tuesday. Earnings instead will be released when Kmart files its annual 10-K report in April. The 10-K report must be filed with the Securities and Exchange Commission within 90 days of the end of the fiscal year, but Kmart may get an extension if there are any disruptions because of 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. proceedings, company spokesman Jack Ferry said. The fiscal year ended in January. Last month, Kmart said it will start filing monthly operating statements in bankruptcy court in late March. Formica forced into bankruptcy TRENTON, N.J. - Formica Corp., the maker of laminated countertops and flooring, filed for protection under Chapter 11 of the federal bankruptcy code on Tuesday, citing burdensome debt and interest expenses and challenges due to the recession. The Warren-based company said Tuesday that it has secured $78 million in credit to cover operating costs and other needs and said it expects to conduct business while it develops a financial reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. . The bankruptcy petition, which covers Formica Corp. and nine related U.S. businesses, was filed in the U.S. Bankruptcy Court for the Southern District 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 in Manhattan. No layoffs are anticipated, and vendors and secured creditors will be paid normally, said company spokesman Richard Wool. The company's assets amount to $858.6 million, and its debt is $816.5 million. Boards of SAG, agents reach pact Board members for the Screen Actors Guild and the Association of Talent Agents approved a tentative agreement Tuesday allowing agencies to make and receive production company investments. ``We are united in supporting this tentative agreement as it assures continued uncompromised representation while allowing agencies to grow their businesses to generate more opportunities for clients,'' ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment and the National Association of Talent Representatives in New York said in a statement. The new contract will go to SAG and ATA members for ratification. Details on the timing of the membership vote were not immediately available. Messages left after business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a for SAG and ATA officials were not returned. The previous contract expired Jan. 20. If approved, the new contract would be effective July 1. |
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