AT&T;, Silicon Graphics join forces
AT&T; Corp. and Silicon Graphics Inc. plan to announce an alliance today aimed at developing and marketing networks that deliver interactive television and on-line computer services into the home, the New York Times reported yesterday.
The alliance brings together two powerful suppliers in the race between telephone and cable television companies to build multimedia networks, like those being built by Bell Atlantic Corp. the mid-Atlantic states and by Time Warner Inc. in Orlando, Fla.
People familiar with the plans said Mountain View, Calif.-based Silicon Graphics and AT&T; hoped to combine their respective technologies in computers and high-speed switching and to market turnkey systems that can deliver movies on demand, interactive home-shopping services and video games over telephone or cable television networks.
Japanese GDP up 3.9% for quarter
Japan's gross domestic product grew at a stronger-than-expected 3.9 percent annual pace in the first quarter of 1994, the Economic Planning Agency reported yesterday, providing new evidence the nation's long economic slump is fading into history.
Strong personal consumption came on the back of increased residential investment, which was spurred by record low mortgage rates and real estate costs. Durable goods, such as refrigerators, washing machines and video decks, are selling especially well, the agency said.
Quaker Oats stock drops 10%
Quaker Oats Co.'s share price dropped 10 percent in heavy trading yesterday, after Nestle SA Chief Executive Helmut Maucher said the Swiss food company has no plans to make any U.S. acquisitions in the near future.
Quaker stock fell $8.25, to $73.625, on volume of 1.75 million shares, more than eight times its three-month daily average. The stock had risen $7.375 Monday on speculation that a takeover was imminent.
Carreker to head Trammell Crow
Trammell Crow Co., the nation's largest commercial real estate services company, said yesterday that it named hotel executive James D. Carreker as president and chief executive.
Mr. Carreker will replace J. McDonald Williams effective Aug. 1, the company announced yesterday. Mr. Williams will assume the title of chairman. The company's current chairman, Trammell Crow, is retiring and will become chairman emeritus.
Mr. Carreker, 47, is credited with turning around the troubled Wyndham Hotels and more than doubling the size of the Dallas company, which is owned by the Trammell Crow family.