Newspaper article THE JOURNAL RECORD


Newspaper article THE JOURNAL RECORD


Article excerpt

U.S. Threatens Suits over Merger Disclosures WASHINGTON - The Justice Department says it will file three civil suits charging violations of merger notification rules in important takeover battles.

Under the Hart-Scott-Rodino Act, companies and individual investors must notify the government when they plan certain mergers and acquisitions. The law is intended to improve enforcement of the antitrust laws.

The Justice Department said it was acting on a request from the Federal Trade Commission in the three cases. The cases involve the Belzberg family of Canada and its purchase of stock in Ashland Oil Inc.; the New York developer Donald J. Trump in his acquisition of stock in the Holiday Corp. and the Bally Manufacturing Corp., and the Wickes Cos.' purchase of shares in the Owens-Corning Fiberglas Corp. All of the purchases occurred more than a year ago.

Corporate Profits Up 8.4% in 1987 WASHINGTON - After-tax corporate profits shot up 8.4 percent in 1987, a sharp rebound from the previous year when profits declined, the government said Wednesday.

The Commerce Department said that after-tax profits rose to $137.4 billion last year, an increase of $10.6 billion from 1986, when profits had actually fallen by 1 percent.

Consumer Prices Up 0.2% in February WASHINGTON - Consumer prices, restrained by lower food and energy costs, rose a modest 0.2 percent in February, the government said Wednesday in a report that shows inflation remains tame.

Food prices fell 0.3 percent after rising 0.3 percent in January. Energy costs, which had fallen 0.7 percent in the preceding month, fell 0.6 percent last month.

So far this year, consumer prices have been increasing at a rate of 3. …

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