QVC shares rise more than $1
QVC Inc. shares rose more than a dollar in heavy trading yesterday to close at $45.25, well above Comcast Corp.'s $44-a-share takeover offer, on speculation that a better bid is coming.
"I think QVC will go to $50," an arbitrageur said. Comcast's $2.2 billion offer for QVC, announced late Tuesday, scuttled a planned merger between QVC and CBS Inc.
Ellicott Engineering gets pact
Ellicott Engineering Inc., a division of Ellicott Machine Corp. International, has been awarded a subcontract worth more than $1.5 million to fabricate and assemble more than a million pounds of steel for the boom and legs of a new crane at Dundalk Marine Terminal.
Because of the order, officials of the Baltimore-based company will be hiring more machinists, mechanics and welders. Ellicott was awarded the subcontract by IMPSA International of Argentina, which is installing the crane at Dundalk.
Probe of 800 numbers urged
U.S. Rep. Edward J. Markey, the chairman of the House telecommunications subcommittee, urged the Federal Communications Commission yesterday to investigate the use of numbers for pay-per-call services. The Massachusetts Democrat said many 800 numbers have been set up to evade protections Congress set up to prevent the unauthorized use of 900 numbers.
Many operators of sex-talk lines have set up 800 numbers that allow a caller to gain access to so-called "party lines" by receiving a personal identification number that is issued without any proof that the caller is authorized to set up the account.
Bias alleged at Martin Marietta
Three female workers have filed federal sex discrimination complaints against Martin Marietta Corp., charging the contractor with disciplining women more harshly and paying them less than men.
Joyce Bolster, an engineer at the Lanham office, said yesterday that she is paid $20,000 to $30,000 less per year than similarly qualified males at the company.
She and the two other women, who asked not to be named, complained that while men often swore with impunity, women were disciplined for using rough language.
Martin spokesman Chip Manor said yesterday that he was not aware of the filings with the federal Department of Labor and Equal Employment Opportunity Commission, but that the company does not discriminate.
Computer problems shut Nasdaq
Computer problems shut down trading on the nation's second largest stock market, the Nasdaq, for 2 1/2 hours yesterday. Trading failed to start at the market's usual 9:30 a.m. opening after problems in software were discovered, said a Nasdaq spokesman.