After 8 Months, Pete Hamill Leaves The Daily News
Date: 05 September 1997
By FRANK BRUNI
Frank BRUNI
Mortimer Zuckerman, owner of The Daily News, announces that Pete Hamill's tenure as editor in chief is over, making Hamill the third editor in less than five years to leave or be removed from paper's top newsroom position; Zuckerman says that exec editor, Debby Krenek, will take over Hamill's responsibilities for time being; Hamill held job for just eight months; Zuckerman memo says that Hamill decided to resign, but several sources at paper say he was essentially forced to leave; photo (M)
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BRANDYWINE HEAD SAYS COMPANY MAY BE SOLD
Date: 05 September 1997
Brandywine Asset Management Co is considering sale of the company (S)
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AMERICAN MANAGEMENT SYSTEMS CUTS PROFIT FORECAST
Date: 05 September 1997
Stock of American Management Systems Inc plummets 23 percent after company lowers its earnings expectations for the year; shares fall $5.9375, to $18.6875 (S)
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TUPPERWARE STOCK FALLS ON FORECAST OF WEAK EARNINGS
Date: 06 September 1997
Stock of Tupperware Corp falls 19 percent after company forecasts weak third-quarter earnings and flat sales and substantial decline in net income for full year (S)
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REXALL AND TWINLAB CALL OFF ACQUISITION TALKS
Date: 06 September 1997
Rexall Sundown Inc and Twinlab Corp call off Rexall's $707 million acquisition of Twinlab after Securities and Exchange Commission refuses to approve favorable accounting for purchase (S)
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BIG REVAMPING PLANNED BY BRUNSWICK TO CUT COSTS
Date: 06 September 1997
Brunswick Corp says it is cutting jobs, dropping some products, closing plant and changing some processes, resulting in third-quarter charge of $60 million; says it will use savings to develop new products and reduce manufacturing costs (S)
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COLONNADE CAPITAL ADDING NATIONAL PICTURE AND FRAME
Date: 06 September 1997
National Picture and Frame Co says it agreed to be acquired by Colonnade Capital LLC and some National Picture management members for about $63 million (S)
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COWLES MEDIA SAYS IT MAY BE MERGED OR SOLD
Date: 05 September 1997
Cowles Media Co is exploring merger with another US media company and other strategic alternatives at request of members of Cowles Family Voting Trust, which holds about 56 pecent of its voting shares (S)
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LEVITZ SET TO CLOSE STORES AND SEEK BANKRUPTCY
Date: 06 September 1997
Levitz Furniture will close its stores in seven cities and seek bankruptcy court protection from creditors in attempt to reduce mounting debt; company has experienced declining sales, profitability and cash flows in last several years (S)
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CONNECTICUT BANKS AGREE TO MERGE IN $164 MILLION DEAL
Date: 05 September 1997
People's Bank, Bridgeport, Conn, agrees to acquire Norwich Financial Corp for $164 million in cash and stock (S)
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