Executive back at London Fog
London Fog Corp.'s former vice president of retail merchandising has returned to the company as president of its factory outlet stores, the company announced yesterday
The Eldersburg-based raincoat and outerwear company said that Gary Nixon will be responsible for making factory outlets "the primary source for distribution of the company's excess inventory."
Mr. Nixon's arrival comes on the heels of last month's appointment of Jay Titsworth, a former VF Corp. executive, as London Fog's executive vice president of planning and retail stores.
Mortgage delinquencies down
The percentage of homeowners behind in their mortgage payments fell from January through March to the lowest level in 22 years, due in part to low-interest loans, a trade group reported yesterday.
The Mortgage Bankers Association said its quarterly National Delinquency Survey showed the seasonally adjusted delinquency rate was 3.91 percent, down from 4.15 percent in the October-December period of 1994.
Sylvan to offer Lotus tests
Columbia-based Sylvan Learning Systems announced yesterday that it has signed a contract with Lotus Development Corp. to provide computer-based certification testing for Lotus professional users of Lotus Notes and cc:Mail at more than 250 Sylvan Technology Centers worldwide. The tests, which will be offered at the centers starting in September, will be identical to those currently used to certify Lotus professionals, Sylvan said.
The Lotus contract adds another client to Sylvan's fast-growing stable of test publishers who have decided to use the company's computer testing services.
Trump sets public offering
Developer Donald Trump plans to take his flagship Trump Plaza casino public today, offering 10 million shares of common stock at an estimated price of $14 to $16 per share.
The new stock's symbol: DJT, which are Mr. Trump's initials.
Mr. Trump plans to use proceeds from the stock sale and a separate $140 million bond offering to finance an expansion of the Trump Plaza in Atlantic City, N.J..
EDS to acquire consulting firm
Electronic Data Systems Corp. said yesterday that it signed a letter of intent to acquire the A. T. Kearney consulting firm in a cash-and-stock transaction worth about $600 million.
The letter follows almost two years of on-again, off-again negotiations between Kearney and Dallas-based EDS, a unit of General Motors Corp.
The transaction would create one of the world's largest management consulting firms, with about 2,300 consultants in 40 countries. Kearney would become a wholly owned EDS subsidiary.