Reported by Star-Bulletin staff & wire
Friday, August 13, 1999
Aloha, union reach tentative deal
Aloha Airlines says it has reached a tentative agreement on a new labor contract for its flight attendants. Details weren't disclosed. The five-year pact, negotiated between the airline and the Association of Flight Attendants AFL-CIO, is subject to ratification by Aloha's roughly 240 flight attendants. It would run through 2003.
Report: Disney to sell publications
NEW YORK -- Walt Disney Co. has decided to sell Fairchild Publications, a magazine division that includes W, Women's Wear Daily, Los Angeles and Jane magazines, The New York Times reported today.Conde Nast Publications and Hearst Magazines have been involved in bidding on the titles, a Disney executive told the newspaper. Conde Nast has offered $650 million for Fairchild.
Lucent acquiring Xedia in stock deal
MURRAY HILL, N.J. -- Lucent Technologies Inc. today it agreed to acquire Xedia Corp., a privately held developer of Internet access routers for wide area networks, for stock valued at $246.1 million.In the transaction, expected to close by year's end, Xedia stockholders will exchange their shares for 3.9 million Lucent shares.
Shares in Red Hat surge for 3rd day
DURHAM, N.C. -- Shares of Red Hat Inc., which sells a computer operating system that competes with Microsoft Corp.'s Windows, rose 17 percent in its third day of trading as investors sought to own a stake in the first Linux software company to sell shares to the public. Red Hat jumped $12.62 to $85.25 in trading of 8.9 million shares, valuing the company at about $5.7 billion. The stock has risen more than sixfold since the Durham, N.C.-based company sold 6 million shares at $14 each on Wednesday.