Reported by Star-Bulletin staff & wire
Tuesday, June 8, 1999
ML Macadamia ups quarterly payment
ML Macadamia Orchards LP said it will increase its quarterly cash distribution to 10 cents a partnership unit, a 33 percent jump over last year's rate.The payment will be made Aug. 16 to Class A unit holders as of June 30.
Disney wants to buy rest of Infoseek
PALO ALTO, Calif. -- Walt Disney Co. yesterday said it was in talks with the Internet portal Infoseek Corp. to acquire the 57 percent of the company it does not already own.
Disney also said it may consider issuing a new class of stock for the combined assets of Infoseek and its other Internet operations.
Brokerages plan new trading market
NEW YORK -- Merrill Lynch & Co., Goldman Sachs Group Inc. and Bernard L. Madoff Investment Securities plan to start an electronic auction market for stocks that would let investors offer better quotes than those displayed on U.S. markets.The three brokerages said they formed a company called Primex Trading that would offer anonymous broker-to-broker trades starting in 2000.
Koop a millionaire from new Web site
AUSTIN, Texas -- C. Everett Koop, the former surgeon general who led a fight against Big Tobacco and pushed for AIDS awareness, turned Internet millionaire today when his Web site became a publicly traded company.Drkoop.com Inc., a consumer healthcare web site co-founded by Koop, 82, more than doubled on its first day of trading to as high as $18.50. That made Koop's 11 percent stake worth $56 million. The stock closed at $16.433/4, up $7.433/4, as 26.5 million shares traded, the most of any U.S. stock.
In other news . . .
Japan's government today raised its assessment of the economy for the first time in four months because production has stopped falling.