Wednesday, December 25, 1996 Page:
PP&L SETS SHAREOWNERS' MEETING:
THE BOARD OF DIRECTORS OF PP&L RESOURCES SET THE COMPANY'S ANNUAL SHAREOWNERS'
MEETING FOR 1:30 P.M. APRIL 23 AT LEHIGH UNIVERSITY'S STABLER ARENA IN
PP&L SETS SHAREOWNERS' MEETING:
The board of directors of PP&L Resources set the company's annual
meeting for 1:30 p.m. April 23 at Lehigh University's Stabler Arena in
BethlehemPennsylvania Power & Light Co. supplies electricity to a
10,000-square-mile area of 29 counties in central and eastern Pennsylvania.
Other subsidiaries of PP&L Resources are Power Markets Development Co. and
Spectrum Energy Services Corp.
REEBOK SUING MOVIE MAKERS:
Reebok is suing the makers of the movie "Jerry Maguire," claiming its cameo
commercial was wrongfully left on the cutting room floor.
Reebok International Ltd. claims TriStar Pictures Inc. reneged on a promise
to include a Reebok commercial in the film, which stars Tom Cruise as a sports
The company also claims its reputation has been damaged because several
characters make disparaging remarks about the company in the movie.
Stoughton, Mass.-based Reebok is seeking $110 million in damages for
alleged breach of contract, intentional misrepresentation, trade
disparagement, unjust enrichment and unfair competition.
In the lawsuit filed Monday, Reebok claims it promoted "Jerry Maguire" --
last weekend's No. 2 movie -- with product and cash worth more than $1.5
UNION SUES DISNEY OVER MOVIE:
The Machinists union has sued Walt Disney Pictures for $50 million,
claiming its movie "Ransom" damaged the labor group's reputation.
The lawsuit accuses Disney of associating the union, formally known as the
International Association of Machinists and Aerospace Workers, with
"despicable criminal activities and gross violations of its duties to its
In the film, Mel Gibson stars as Tom Mullen, the wealthy owner of Endeavor
Airlines, whose son is kidnapped and held for a $2 million ransom. Mullen is
pegged by the kidnappers as an easy mark after paying $250,000 to a corrupt
"Machinists Union" official to prevent an airline strike.
John J. Walsh, a lawyer representing the union, said the movie's plot has
hurt the reputation of the 700,000-member union, based in Upper Marlboro, Md.
Ken Green, a spokesman for Walt Disney Co., parent of Disney Pictures, said
the company never comments on pending litigation.
In addition to the $50 million in compensatory damages, the union is
seeking punitive damages and other forms of relief. Also named in the lawsuit,
filed Monday in Circuit Court in Prince George's County, are Richard Price and
Alexander Ignon, the movie's co-writers.
FIRST DATA TO JOIN CHASE IN VENTURE:
First Data Corp. and Chase Manhattan Bank said they intend to form a joint
venture that will create the nation's largest merchant processing business.
The new business, to be called Chase Merchant Services, is expected to
begin operations in the first quarter of 1997. The venture is subject to
Under terms of the agreement, First Data will sell its portfolio to Chase
but continue to process the transactions. First Data also will process
transactions for Chase's current clients.
Chase and First Data will blend their individual merchant-processing
businesses. Chase will provide clearing and settlement services for merchants,
and First Data will provide processing services and back-office functions.
Both companies will provide sales and marketing support.
First Data, based in Omaha, will receive an undisclosed amount of cash and
will share in the proceeds from the joint venture.
MAGAZINE FILES REPORTS ON ISUZU TROOPER:
Consumer Reports magazine on Monday filed documents it says support its
contention that 1995-96 Isuzu Trooper models have a tendency to roll over in
The filing with the National Highway Traffic Safety Administration also
contends the problem could be easily fixed.
Consumers Union, the magazine's publisher, in August called for the
administration to conduct a defect investigation of the Trooper and its
cousin, Acura SLX, also made by Isuzu. The Yonkers, N.Y.-based organization
reported that in its tests, the vehicles tipped on two wheels during runs at
about 33 mph and nearly rolled over.
Consumer Reports gave the Trooper its rare "not acceptable" rating in
August and urged Isuzu and Acura to stop selling the vehicles until the
purported problem could be determined and fixed.
The Isuzu Trooper suffered a severe drop in sales in September and October
after Consumers Union issued its report, but sales began to improve in
Isuzu has said it plans no recalls and that the Consumers Union's charges
were not scientific or credible. Isuzu said its analysis showed the consumer
group's drivers grossly oversteered the Trooper, compared with other vehicles