Computer program venture set
Capital Cities-ABC Inc. will form a venture with Electronic Arts Inc. to produce computer programs for children, the first time a large TV network has aligned itself with a major software company.
The venture, which has been rumored for several weeks, will develop games and educational software based on ABC-TV children's programs but may later be expanded, sources said yesterday.
Representatives of the companies declined to comment before a news conference at Capital Cities-ABC's corporate headquarters today.
S.D. credit-card processor closing
First Data Corp., a New Jersey company that is buying a credit card processing firm with a large operation in Hagerstown, said it will close its 175-person facility in South Dakota and shift the workload to Maryland.
But First Data said the move will not add more jobs to the 500 positions at the Hagerstown plant, which is owned by Card Establishment Services Inc. of Melville, N.Y. First Data said it expects to complete its purchase of CES late this year or early next year.
Fidelity wins GM contract
Fidelity Investments has supplanted Bankers Trust New York Corp. as a provider of retirement planning services to General Motors Corp.'s 324,000 employees.
Fidelity's agreement with GM means a portion of the $11 billion of GM employees' assets may be invested in 38 of Fidelity's mutual funds.
Fidelity won the contract, the largest such account in the nation, by offering lower record-keeping and administrative fees than competing bids, GM said.
Hettleman to head chamber
Elayne Hettleman has been named interim president of the Baltimore County Chamber of Commerce, succeeding Nicholas G. Greaves, who resigned after six years.
For the past 11 years, Ms. Hettleman has been executive director of Leadership-Baltimore County, which is affiliated with the Chamber of Commerce. She also is immediate past president of the Catonsville Community Foundation Board.
A search committee has been appointed to hire a permanent president.
Nickel prices soar after explosion
Nickel prices soared yesterday to the highest level in more than four years on panic buying fueled by worries that reports of explosions and power shortages at a huge nickel smelter in Siberia may cut supplies.
On the London Metal Exchange, nickel surged to $9,575 a metric ton -- its highest level since September 1990 and up sharply from Friday's close of $8,930.
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