Columbia business complex sold
A partnership between the Manekin Corp. and members of H&S; Bakery Inc.'s Paterakis family acquired the nine-building Columbia Business Center yesterday for $6.1 million, as expected. Seller Aetna Life Insurance was represented by Colliers Pinkard, while Joseph A. Callanan of Manekin's investment services division negotiated for the buyer. The 157,725-square-foot project represents the first time Manekin, a development firm, has bought an existing property.
Nasdaq volume tops that of NYSE
Trading on the Nasdaq stock market exceeded trading on the New York Stock Exchange for the second straight year, the Nasdaq said.
A total of 73.5 billion shares, or an average of 295 million a day, changed hands on the Nasdaq this year through Dec. 27. Big Board trading totaled about 72.7 billion shares, or about 291.8 million a day, the Nasdaq said.
U.S., Japan financial talks stall
The United States and Japan were unable to agree on opening Japan's financial markets after three days of talks in Seattle, according to a Japanese Finance Ministry official.
Both agreed to talk again sometime next year, said Yukio Yoshimura, a director in the ministry's International Finance Bureau.
The negotiations over matters such as letting U.S. companies manage public pension funds are part of what's called the
framework round of trade talks between the U.S. and Japan.
Kendall Square files for protection
Kendall Square Research Corp., which dropped out of the supercomputer business in the fall, said yesterday that it was filing for bankruptcy protection.
The 7-year-old company, based in Waltham, Mass., also said William I. Koch, Kendall Square's largest shareholder, resigned as chairman of the board and as a director.
Kendall Square had warned in September that it might need to file for protection. The company, citing a low order rate and a failure to raise capital, said then it would quit making supercomputers and cut its staff from 180 to 50.
LDDS Communications, IDB merge
LDDS Communications Inc. and IDB Communications Group sealed their $790 million merger yesterday, propelling LDDS into the international telecommunications market.
Shareholders of both telecommunications companies at separate meetings approved the merger, which was announced in August.
The merger combines Jackson, Miss.-based LDDS' rapidly growing long-distance telephone operation with Culver City, Calif.-based IDB's satellite system, thrusting LDDS into the international telecommunications market.
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