IN BRIEF.VALLEY INDEX FALLS: The Daily News/Bloomberg Index fell 0.59 to 144.52, led by Tekelec and Countrywide coun·try·wide
adv. & adj.
Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search.
Adj. 1. Credit Industries Inc., both of Calabasas. Tekelec fell 1-1/8 to 47. Countrywide fell 1 to 45-5/8.
- 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
IMAGE CHANGE: Chatsworth-based laserdisc An earlier optical disc used for full-motion video and interactive training. It was introduced in the late 1970s and became obsolete in the 1990s. Videodisc systems based on a stylus were introduced (see CED), but only the optical-based LaserDisc survived, although never very popular. specialist Image Entertainment will close its U.S. Laser Video Distributors optical disc retail operation in Whippany, N.J., leading to charges of $825,000 against earnings for lease termination, severance The act of dividing, or the state of being divided.
The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when payments and write-offs of improvements and goodwill. Image estimates the closure will save it $1.2 million in the next three years.
- Daily News
CHARTER CANCELS DEAL: Charter Pacific Bank, a state-chartered commercial bank based in Agoura Hills, will no longer sell 1.67 million common shares of the company to Financial Institution Partners II LLP LLP - Lower Layer Protocol for $2.35 a share. The terminated sale, which would have given Financial Institution a 26 percent stake, was ended by Charter Pacific because the buyers had not consummated con·sum·mate
tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates
a. To bring to completion or fruition; conclude: consummate a business transaction.
b. the deal by March 31 as set forth in their agreement.
- Daily News
HIGHLAND BUYER: Deltec International SA, owner of 25 percent of Highland Bancorp in Burbank, has bought 1,271 shares at $42.25 each. Its holdings now total 581,943 shares. Deltec, an investment group incorporated in the Bahamas that represents an unknown number of wealthy U.S., European and South American investors, periodically readjusts its stake in Highland to maintain an exact 25 percent ownership.
- Daily News
Taitron Components Inc.
Santa Clarita-based distributor of discrete semiconductors, optoelectronic Refers to devices that function due to the interaction of light and electronics. For example, an electronic signal is the input to a laser diode, which generates light pulses that are transmitted through an optical fiber. devices and other electronic components.
March 1st Qtr 1998 1997
Sales $8.6 million $8 million
Net Income $503,000xx $609,000
Net Per Share 8 cents 9 cents
xx Income fell due to a drop in sale prices. The company also reported that selling, general and administrative expenses jumped due to expansion of the company's work force and higher interest expenses.