Share this article

print logo


U.S. corporations added jobs at a quicker pace this past year, more than offsetting positions eliminated in business makeovers, according to a survey released Sunday by a management group.

"Downsizing is no longer the dominant theme of change in the U.S. work force," said Eric Rolfe Greenberg, director of management studies for the American Management Association.

The group's report said 68 percent of the 1,441 large and medium-sized companies surveyed created jobs during the 12 months ended June 30. That was up from 58 percent in the year-earlier survey.

At the same time, 49 percent of the companies said they snipped jobs in the year ending in June, compared with 50 percent in the year-earlier questionnaire.

Overall, the average work force among the responding companies grew 6 percent, compared with a gain of 4.5 percent in the previous survey.

Molson must cut tie with Coors

GOLDEN, Colo. (AP) -- An arbitration panel says Molson Breweries of Canada must give up its rights to brew and distribute Coors Brewing Co. products in Canada because it allowed another American brewer to buy a stake in Molson.

The three-member panel in Toronto also ordered Molson to give Coors any profits derived from Coors products since April 2, 1993, Coors officials said Sunday.

Coors said the panel ruled Molson violated its licensing agreement with Coors by allowing Miller Brewing Co. to buy an interest in Molson without Coors' consent. Miller is the second biggest U.S. brewer while Coors is third.

The amount of damages owed to Coors, a subsidiary of Adolph Coors Co., is expected to be determined early next year.

Home health companies merge

OWINGS MILLS, Md. (AP) -- Integrated Health Services Inc. has agreed to acquire Coram Healthcare in a $655 million deal that the companies said would form the nation's second-largest home health company.

The combined company will operate more than 700 home health branch locations in 44 states, the companies said today in a joint release.

Integrated Health officials said the company would be the industry leader in the two largest home health sectors, home nursing and home infusion of drugs and nutrients.

Coram shareholders will get stock valued at about $280 million in the deal. Owings Mills-based Integrated Health is also assuming Denver-based Coram's debt and other financial obligations, accounting for the balance of the value of the deal.

RJR Nabisco's profits rise

NEW YORK (Bloomberg) -- RJR Nabisco Holdings Corp. today said its third-quarter earnings rose slightly less than Wall Street expected as U.S. cigarette sales continued to decline.

The New York-based maker of Camel and Winston cigarettes said profit from operations rose to $233 million, or 68 cents a share, compared with $232 million, or 61 cents, a year earlier.

It was expected to earn 69 cents a share, the average estimate of 12 analysts surveyed by First Call.

Revenue after excise taxes rose 7.1 percent to $4.35 billion from $4.06 billion.

Apple unveils new PowerBooks

CUPERTINO, Calif. (Reuters) -- Apple Computer Inc. today was to unveil a new family of portable PowerBook computers to fill a critical gap in its product line.

The new PowerBook 1400 family, scheduled to be sold in mid-November with prices starting at $2,500, will feature a built-in CD-ROM drive and a bigger screen. The models are designed to appeal to small office users and students, Apple said.

Until now, the lack of a CD-ROM drive in its portables has held back Apple in competing with offerings from International Business Machines Corp., Compaq Computer Corp. and Dell Computer Corp., analysts said.

World's largest cruise ship delivered

TRIESTE, Italy (Reuters) -- The largest cruise ship in the world, taller than the Statue of Liberty, was delivered Saturday by shipbuilder Fincantieri to Miami, Fla.-based Carnival Corp, the Italian group said.

No price was given for the 885-foot, 100,000-plus-gross-ton ship, which was completed in 20 months and is big enough for 3,400 passengers and 1,000 crew with 16 decks and 1,320 cabins.

There are no comments - be the first to comment