Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Article excerpt

ST. LOUIS DEFENSE Firm Ships Cargo Loader To Air Force

Southwest Mobile Systems Corp. has shipped its prototype 60K Loader to Washington for inspection this week by the Air Force and Congress. The 50-foot aircraft cargo loader can handle up to 60,000 pounds with a conveyor belt deck that can be raised to 19 feet off the ground.

Southwest, whose factory is in West Plains, Mo., is bidding on a multimillion-dollar Air Force contract for 300 loaders.

***** AUTOMOTIVE Patent Suit Settled

St. Louis-based ATD Corp. announced Wednesday settlement of a patent suit with Volkswagen AG of Germany regarding ATD's patents for a unique metal foil insulating pad. Under the agreement, Volkswagen has agreed to a licensing agreement with ATD. No financial details were released.

***** NATIONAL THEME PARKS Universal To Build `Jurassic' Attraction

Universal Studios Florida said Wednesday it will undergo a 10-year, $3 billion expansion in Orlando that will include a second theme park and five hotels, allowing it to compete with Walt Disney World.

Another 600 acres is being added to the current 200 at the movie-TV-based tourist attraction. The second theme park will include an adventure ride based on the movie "Jurassic Park" and other shows by producer-director Steven Spielberg, who is creative consultant for Universal. AP

***** BANKING FDIC To Cut 3,300 Part-time Employees

The Federal Deposit Insurance Corp. announced plans Wednesday to eliminate 3,300 mostly temporary employees, or about 21 percent of its work force, by the end of 1996.

The FDIC, which oversees the fund that protects depositors at failed banks, said the cuts reflect the improved health of the banking industry, in particular the drop in bank failures in recent years. …

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