Boeing considers more financing to some hard hit Asian carriers

Article Abstract:

Boeing Co. projects a loss of about 90 aircraft deliveries over the next five years due to Asian recession. Boeing Co. is prepared to provide additional financing in order to prop up orders from some hard hit Asian carriers. Many Asian carriers are suffering huge revenue drops and 25% or larger reductions in traffic on some routes. Boeing has a 30% backlog of commercial jetliners in Asia, and its backlog for the 747 jet is higher. Boeing will cut production of the 747 Jumbo jet model 30% next year.

Comment:

Projects losing about 90 aircraft deliveries over the next five years due to Asian recession

Contracts & orders received, Aircraft, Aircraft Manufacturing, Boeing Co.

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Huffy to close its largest U.S. factory, idle 950, to combat Asian competition

Article Abstract:

Huffy, the US' largest bicycle maker, said that it will close its plant in Celina, Ohio, and relocate some production to its nonunion plant in Farmington, MO. The company plans to develop new manufacturing sources in Mexico and import more bikes from Asia. The move reflects the cutthroat nature of the bike business. Huffy was one of the last manufacturers making bikes in the US.

Comment:

Said it will close its plant in Celina, OH, & relocate some prodn to its nonunion plant in MO

Plant shutdown, Motorcycle, Bicycle, and Parts Manufacturing, Motorcycles & Bicycles, Two wheeled vehicles, Huffy Bicycle Co.

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OfficeMax discusses likely 'combination'; shares increase 23%

Article Abstract:

OfficeMax Inc. announced that it is engaged in "preliminary discussions" about a potential business combination. The company's stock increased in value by 23% following the disclosure. OfficeMax would not say anything more on its initial announcement. OfficeMax is a retailer of office products. On August 24, 1998, the company's share finished at just over $13.

Comment:

Announced that it is engaged in "preliminary discussions" about a potential business combination

Strategy & planning, Stationery & Office Suppl Stores, Office Supplies and Stationery Stores, OfficeMax Inc., Office supply stores

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