Price-fixing inquiry into leaf tobacco is expanding by US
Article Abstract:
The US Justice Department has announced an antitrust investigation of possible price-fixing in the leaf tobacco business. Richmond, Va.-based Universal Corp., a supplier of leaf tobacco to Philip Morris Cos., has received federal grand jury subpoenas. Philip Morris also has received subpoenas from the same grand jury. Industry analysts have said that the Justice Dept. inquiry has been expanded with the convening of a Philadelphia grand jury, which is separate from a criminal investigation into other possible violations of major tobacco companies for alleged false statements to Congress.
Comment:
Has received federal grand jury subpoenas from US Justice Dept. for alleged price-fixing in the leaf tobacco business
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Reservation system suffers second outage in less than a week
Article Abstract:
The computerized reservation system used by hotels, car rental companies and up to 400 airlines was shut down for the second time in a week, leaving its operator, Sabre Group Holdings Inc., scrambling to explain itself. Sabre officials are still investigating the cause of the most recent breakdown, which is being traced to software problems. The earlier shutdown had been caused by an electrical problem. American Airlines, Sabre's largest customer, had up to 200 flights delayed because of the outage and had to resort to boarding passengers manually.
Comment:
Reservation system for hotels & airlines was temporarily shut down due to a software glitch
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Dillard's beats estimates with increase of 8% in 2nd-quarter profit
Article Abstract:
Dillard's Inc. posted an unexpected rise of 8% in its net income for the fiscal second-quarter of 1998. The improved figures reflected inventory control and higher margins. Dillard's posted $47.9 million in net income for the period ending August 1, 1998. During the same period in 1997, the company posted $44.3 million. Analysts had predicted that Dillard's would post net income of 40 cents a share.
Comment:
Posts an unexpected rise of 8% in its net income for the fiscal second-quarter of 1998
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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