A short item in the Business section yesterday incorrectly stated the number of routes for which Southwest Airlines is offering its $19-to-$99 one-way sale from Baltimore-Washington International Airport. The company is offering the fares to 27 destinations.
The Sun regrets the error.
2 airlines announce fares
Both Southwest Airlines and USAir yesterday announced advance purchase fares ranging from $19 to $99 one-way to destinations they serve from Baltimore-Washington International Airport.
The tickets, which require advance purchase and are nonrefundable, can be purchased now for travel beginning Jan. 4 through March 15. USAir, the largest carrier at BWI, designated 20 cities for low fares while Southwest said it would apply the sale to eight cities.
CNA to buy Continental
CNA Financial Corp. agreed to buy Continental Corp. for $1.1 billion, creating the nation's seventh-largest insurance group, both companies announced yesterday.
The deal will pay Continental stockholders $20 a share in cash -- a 43 percent premium over the stock's $14 close yesterday on the New York Stock Exchange.
CNA Insurance Cos., the operating unit of CNA Financial Corp., is the 12th-largest insurance organization in the United States and the sixth-largest property-casualty insurance group. Continental Corp., based in New York, is the 11th-largest property-casualty company.
New bidders enter radio auction
Bidding for the sole Baltimore-Washington license in the Federal Communications Commission's auction of radio spectrum for personal communications services heated up yesterday as two new bidders jumped into the fray.
GTE Macro Communications, an arm of GTE Corp., was the high bidder at $15 million, topping the $14.7 million offered by WirelessCo L.P., an alliance of Sprint Corp. and three large cable TV companies.
Both bids topped AT&T; Corp.'s high bid of $10 million in the first round of the auctions Monday.
Drugstore firm files Chap. 11
F & M Distributors Inc., a Midwestern operator of drugstores and party supply superstores, including 18 drugstores in Maryland, filed for bankruptcy yesterday under Chapter 11 of the federal bankruptcy code.
A spokeswoman for Warren, Mich.-based F & M said the company's liabilities include $99 million in bank debt, $21.5 million in senior notes and $71.0 in bonds. Last month, F&M; announced it was closing six stores and is considering additional closings.
The company also has a service center, warehouse and distribution center in Jessup.
Three earn quality certification
Three Maryland industrial facilities have recently received ISO 9000 certification, an international standard of manufacturing quality. Two of the recipients were Becton Dickinson & Co. plants in Sparks, which make medical diagnostic equipment. Also meeting the standard was the Bethlehem Steel Corp. shipyard. The company's steel mill received the designation a year ago.
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