BUSINESS NOTES.LEARNING TREE DROPS: Learning Tree International Inc. shares fell as much as 25 percent after it said it's discontinuing a one-day conference program, which it warned will affect profit for the fiscal fourth quarter and will spill into the first quarter of the new year. The company, in a conference call Tuesday night, said costs from the Power Seminar program have extended into the first quarter ending in December, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Howard Block, an analyst at BancAmerica Robertson Stephens & Co. No one from the company was available for comment. ?13- Bloomberg News SUIT FILED OVER MONEY WIRING: A suit was filed against Western Union and MoneyGram for those who wired cash to Mexico and other Latin American nations and were not informed they would have to pay a fee for converting the dollars to pesos. Attorney Fred Kumetz, who filed the federal class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax late Monday, also named Ralphs supermarket chain as a defendant. On Oct. 10, Western Union and MoneyGram announced they would wire money to victims of Hurricane Pauline This article is about the Pacific hurricane of 1997; for other storms of the same name, see Hurricane Pauline (disambiguation). Hurricane Pauline was one of the strongest and deadliest Pacific hurricanes to make landfall on Mexico. for free. But Kumetz claims the companies secretly pocketed a percentage of the victims' money as a fee for converting it to pesos. Ralphs ran ads with Western Union announcing ``free'' money transfers. ?13- City News Service LAIDLAW MAKES HOSTILE BID: Laidlaw Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, Inc. made a hostile bid for recycler Safety-Kleen Corp., offering $1.8 billion in cash, stock and assumed debt after the company spurned spurn v. spurned, spurn·ing, spurns v.tr. 1. To reject disdainfully or contemptuously; scorn. See Synonyms at refuse1. 2. To kick at or tread on disdainfully. v. previous friendly takeover Friendly takeover Merger when the target firm's management and board of directors is in favor of the takeover. Antithesis of hostile takeover. friendly takeover attempts. Laidlaw, based in Columbia, S.C., is offering $14 in cash and 2.4 shares of its stock for each of the 58.3 million outstanding Safety-Kleen shares, a deal worth $1.8 billion with the assumption of the company's $246 million in debt. Tuesday's bid is about 18 percent above Safety-Kleen's value of about $25.85 a share. Safety-Kleen's stock jumped 17.4 percent to $25.75 a share on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , up $3.81. Laidlaw's stock rose 6 cents to $5 a share. ?13- Associated Press |
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