IN BRIEF.VALLEY INDEX FALLS: The Daily News/Bloomberg Index fell 0.49 to 118.59, led by Tekelec of Calabasas and Wellpoint Health Networks of Woodland Hills. Tekelec fell $3.1875 to $19.0625. Wellpoint fell $2.50 to $62.25. - Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. News BROKEN GROUND: Chatsworth-based NMB NMB new methylene blue. Technologies Inc. broke ground Wednesday for a new 138,000-square-foot manufacturing facility at its headquarters site in the 9700 block of Independence Avenue. The company, which employees 500 people, manufactures and markets a wide range of mechanical and electronic products and will have about 250,000 square feet of space once the project is finished. - Daily News NO EXTRA CREDIT: Woodland Hills long-distance telephone service retailer Incomnet Inc. said Wednesday that talks with a lender for a line of credit to stave off stave n. 1. A narrow strip of wood forming part of the sides of a barrel, tub, or similar structure. 2. A rung of a ladder or chair. 3. A staff or cudgel. 4. Music See staff1. bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most have collapsed. An Incomnet subsidiary owes WorldCom The former name of MCI. Based in Jackson, MS, WorldCom, Inc. was a major, international telecommunications carrier. It was founded in 1983 by Bernard Ebbers as Long Distance Discount Service (LDDS), a reseller of AT&T WATS lines to small businesses. Network Services and First Bank & Trust of Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. undisclosed sums and each has said it will take action to collect unless Incomnet can arrange a new line of credit. Incomnet shares fell 3.125 cents to close at $1.50. - Daily News DISCOUNT SALE SOUGHT: Newhall-based Special Devices Inc. said it will ask its board of directors to cut the asking price of the company's shares in its pending sale to J.F. Lehman & Company Inc. Lehman had agreed to buy the maker of air-bag initiators for $296 million, or $37 a share. Special Devices said it hopes to ask for $34 a share, or $272 million. Special Devices stock closed up $1.75 Wednesday at $31.50. - Daily News |
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