USAir, pilots talk beyond deadline
USAir and its pilots union failed to agree on a concessionary contract by their self-imposed deadline but kept talking yesterday, amid signs they are narrowing their differences.
Gerald Baliles, the former Virginia governor who is mediating the talks, issued a statement saying he "stopped the clock" at 11:30 p.m. Wednesday, a half-hour before the deadline, and that talks would continue. He did not elaborate, but cited "slow but continuing" progress.
USAir spokesman Richard Weintraub would say only that the two sides have made enough progress to merit continuing talks.
Buffett stake lifts Gannett
Gannett Co. stock soared 8.2 percent yesterday after the Arlington, Va.-based media company said investor Warren Buffett's company bought a 4.9 percent stake.
Gannett stock rose $3.875, to close on the Pacific Stock Exchange at $51, its highest since August.
The move into Gannett means that three of Mr. Buffett's top seven holdings are media companies.
Inventories climb for 7th month
Anticipating strong sales, businesses continue to stockpile goods at a solid pace in the latest sign of the economy's health. Analysts said the question is whether rising interest rates will halt the "steamy" growth in 1995.
The Commerce Department reported yesterday that business inventories rose in October for the seventh consecutive month, posting a 0.4 percent advance on top of the 0.5 percent gain the previous month.
Sales -- which slipped 0.2 percent in September -- rebounded and gained 0.2 percent.
EA to buy consultant group
EA Engineering, Science and Technology Inc. of Hunt Valley has signed a letter of intent to acquire the assets of Pacific Hydro Consulting Group Inc., a six-person hydropower consulting company in Alameda, Calif.
The terms of the purchase were not disclosed. Five of the company's staff members are expected to join EA Engineering's staff in Lafayette, Calif., on Jan. 3, said Joseph A. Spadaro, EA's executive vice president and chief financial officer. The sixth worker is retiring, Mr. Spadaro said.
No Interstate General payout
Interstate General Co. LP said it won't pay a cash distribution to Class A unit holders for the third quarter ended Sept. 30.
In addition, the St. Charles-based diversified real estate developer said it doesn't expect to post any taxable earnings for Class A unit holders during the year ending Dec. 31.