Reported by Star-Bulletin staff & wire
Friday, December 26, 1997
TRW purchase of BDM gets federal approval
WASHINGTON -- The Federal Trade Commission has approved defense company TRW Inc.'s $942 million acquisition of computer services company BDM International Inc., conditioned on a divestiture.Cleveland-based TRW must sell a unit of BDM International of McLean, Va., that could give it an advantage in bidding for a contract involving the successor of the "Star Wars" anti- missile project.
TRW is trying to win the the lead systems integrator contract for the Ballistic Missile Defense Organization, the "Star Wars" successor.
A lot of work on the bid is being handled by a unit of BDM.
Japan securities firms fined for making payoffs
TOKYO -- The Japan Securities Dealers Association and the Tokyo Stock Exchange said today they will impose fines on Daiwa Securities Co. and Nikko Securities Co. for their involvement in paying off racketeers.The association said it will fine Daiwa $770,000 and Nikko $615,000.
The stock exchange said it will impose a $690,000 fine on Daiwa and $540,000 on Nikko.
The fines came after the Ministry of Finance announced administrative penalties against the two brokerage houses earlier this month.
The two firms are involved in a widespread scandal over payments to "sokaiya" racketeers, who threaten to expose company secrets at shareholders' meetings unless paid off by executives.
NEC loaning $300 mil to Packard Bell NEC
TOKYO -- NEC Corp., Japan's largest computer seller, said it will lend $300 million to Packard Bell NEC Inc. and boost its stake in the U.S.'s second-largest computer seller to 49 percent by converting preferred shares to common shares.The loan is necessary to support Sacramento, California-based Packard Bell NEC, whose business has been hurt by falling prices of home computers, said Seijiro Yokoyama, a NEC vice president.
NEC and Packard Bell NEC together control 10.2 percent of the world computer market, the second largest share after Compaq Computer Corp., which controls 10.3 percent.