USAir has surplus of attendants
USAir projects it will have about 200 more flight attendants than it needs as of Sept. 1, when new work rules will allow the airline to get by with fewer people.
The airline, which is prohibited from laying off flight attendants under its union contract, is trying to avoid overstaffing by offering early retirement incentives and leaves of absences. It also is counting on normal attrition of 15 to 17 attendants per month, a spokesman said.
Lorenzo bid receives setback
Embattled former airline executive Frank Lorenzo received a setback in his efforts to start a new airline during a Department of Transportation hearing yesterday.
In a key decision, Administrative Law Judge Robert Barton agreed to consider evidence of executive wrongdoing at Eastern Airlines after Mr. Lorenzo acquired and merged it with his Texas Air Corp. in 1986.
Hanson to buy Quantum Chemical
The Anglo-American industrial conglomerate Hanson PLC has agreed to buy Quantum Chemical Corp., a top U.S. chemical maker, for $3.2 billion, the companies said.
The deal marked Hanson's first foray into the chemical business since 1991, when a much-publicized attempt to take over Imperial Chemical Industries of London failed. In the United States, Hanson already owns SCM Chemicals of Baltimore. Quantum's Suburban Propane division has 161 employees in Maryland, a spokeswoman said.
Baltimore Bancorp gets buy rating
Mabon Securities initiated coverage of Baltimore Bancorp with a buy rating yesterday. The Baltimore-based banking company closed up 37.5 cents at $9 a share.
Bethlehem aims to modernize mill
Bethlehem Steel Corp. said yesterday that it would spend more than $100 million to automate a mill manufacturing structural steel products, which will result in the elimination of 1,500 jobs in Bethlehem, Pa.
The $100 million modernization of the plant over a three-year period would result in 500 workers being terminated and 1,000 others being transferred to other Bethlehem units.
NationsBank to buy stake in bank
NationsBank Corp. said it will buy a $350,000 stake in the one-branch Commonwealth National Bank, a minority-owned institution in Mobile, Ala.
In return, NationsBank will receive nonvoting, nonconvertible preferred stock of Commonwealth National, which has $10 million in assets. The percentage size of the stake wasn't disclosed.