President of EAI resigns
Education Alternatives Inc., the Minneapolis-based company that operates about 44 public schools in Baltimore and Hartford, Conn., said that its president, David Bennett, resigned.
The company didn't give a reason for the resignation, but a person familiar with the situation said Mr. Bennett resigned to form his own company to compete with Education Alternatives.
Neither Mr. Bennett nor other company officials could immediately be reached for comment.
The company also operates two private schools in Arizona and Minnesota.
New software lifts Intersolv stock
Boosted by a new Workbench software product, Intersolv Inc. shares rose 18 percent yesterday, recovering capital it lost in heavy trading of technology issues last week.
Shares in the Rockville-based software company closed up $3.875, at $25, just short of their all-time high of $25.25 set July 7.
The shares traded as low as $20 last week as investor fears sparked a short-lived slump in technology stocks.
Blair Sanford, an analyst with Hoefer & Arnett, said the new version of the company's Workbench software was a key step in Intersolv's strategy to build a line of object-based software tools.
The company said its Workbench software is a "significant new release" that allows customers with customized COBOL programs to transform those programs into blocks of code, also called objects, which can be used in state-of-the-art client-server computer networks.
4 more Md. banks on MAC network
First Fidelity Maryland, First National Bank of Maryland, Provident Bank of Maryland and Farmers and Mechanics National Bank, Frederick, are among the new members of Money Access Service Inc.'s MAC network, which operates MAC automated teller locations.
Money Access Service, a unit of Wilmington, Del.-based Electronic Payment Services Inc., said some of the banks have completed their conversion to the MAC system and all will be on-line by Sept. 30.
The agreements will also give current MAC cardholders an additional 1,350 automated teller machine locations and 1,325 merchant locations where they can use their cards.
Fusion earnings soar 53%
Fusion Systems Corp. said second-quarter earnings jumped 53%, to $4.0 million, on a 46% increase in revenue to $28.0 million. Per-share earnings rose to 49 cents, from 37 cents.
Fusion, which is based in Rockville, makes ultraviolet curing systems, photostabilizers and material to make semiconductors.