GM asks union for concessions
Negotiations between General Motors Corp. and the United Auto Workers union resumed yesterday with company officials stressing that GM needs concessions to avoid falling further behind its cross-town rivals.
According to people familiar with the negotiations, GM officials continued to paint a bleak financial picture for the union, claiming the automaker's North American vehicle operations are on track to lose more than $2 billion this year due to slow sales and high labor costs.
Digital unveils strategy today
Digital Equipment Corp., which once had a reputation for going it alone, will emphasize its changing direction today when it unveils a strategy for linking computers from different companies.
Digital is scheduled to debut a broad array of products and services aiming at the growing market for client-server computing. A key component of Digital's strategy will be software that lets groups of employees work together on the same information.
Motorola doubles earnings
Motorola Inc. said its third-quarter earnings doubled on a 31 percent increase in sales of semiconductors.
Net income rose to $253 million, or 92 cents a share, from $127 million, or 47 cents a share, a year ago. Results exceeded analysts' mean estimate of 78 cents a share. By far exceeding analysts' estimates, Motorola is an exception among those major semiconductor makers that have reported third-quarter results.
Investors complete dairy deal
A New Jersey investment group said yesterday that it completed a deal to buy Green Spring Dairy Inc., a Baltimore milk processing and distribution company that is the top-selling milk company in the Baltimore-Washington area. Terms were not disclosed.
Dairy Enterprises Inc. bought the 350-employee dairy, which also has operations in Salisbury, from John Labatt Ltd.
Bethlehem creates department
Bethlehem Steel Corp. announced yesterday the creation of a services division that combines the company's departments for quality assurance, information technology, facilities engineering, claims, billing, accounts receivable and its Homer Research Laboratories.
The new department, which includes 300 people in Bethlehem, Pa., is a continuation of a restructuring effort begun earlier this year that created separate business operating units for the company's two main steel mills at Sparrows Point in Baltimore County and Burns Harbor, Ind.