BUSINESS BRIEFS
a tac
G y � n
e clinic of uling n cataract ur ry, th clinic
charged in a 6 million lawsuit filed in federal court.
Th n wor defended its report in a tatement i ued after
the la uit filed. The la uit, filed Wedn y, nam
NBC and "Dateline NBC" reporter Brian as defendants.
The plaintiffs are Central Carolina Surgical Eye Associates and
Dr. C. Richard E of Southeastern Eye Center.
w · deo CD ready for mar et
TOKYO (AP}- Four leading electronics compani an-
nounced they have tablished a n compact disc format that
a110 up to 74 minu of video to be tored on a standard-size
CD.
The format, called "Video CD,· will be used for movies,
karaoke, music videos and educational material, Matsushita
Electric Industrial Co., Sony Corp., Victor Co. of Japan (JVC)
and Philips NV said Wednesday.
The companies said Video CDs can be played on present CD
players with digital outputs with an add-on adaptor.
ac CO
er
pend more
CA (AP) - Bla k consumers spend three tim more
than non-Bl on mall applian , twice as much on laundry
ana dry cleaning and perishable foods and 50 percent more on
footwear, a new study found. '
Those num rs and others showing Blacks.contribute sig
nificantly to the economy mean that businesses should pay
more attention th m as customers, Ken Smikle, publisher of
Target Mark t News, said Wedn day. The firm said its study
is the largest sample group ever surveyed in a Black consumer
study. '
ord of�
long-term contract
D · ORN, MICB: (AP) - Ford Motor Co. asked the United
Auto Workers to consider a new contract extending longer than
the t: pical three years.
The longer contract, tabled Wednesday, could provide
greater labor. tability for the boom-and-bustauto industry. It
was part of Ford's first comprehensive offer to the union. The
UAW represents about 100,000 ofFord's U.S. hourly workers.
co 0 ic indicators sag
WASIDNGTON (AP) - Orders for big-ticket durable goods,
particularly auto and aircraft, dropped sharply in July in
another sign the eoonomy isn't reviving as hoped in the year's
second hal f.
The 3.8 percent decline in durable goods orders to a season
ally adjusted $127.5 billion was the fourth drop in five months
andthe worst since December 1991, th Commerce Department
said Wedn y. Economists expected a drop, but only of about
1 percent.
lu ge
y ta p 0
TOKYO (AP) - Toyota Motor Corp., Japan's biggest
automaker, said its group profit dropped 26 percent in the past
fiscal year due to th high yen, sluggish domestic sales and
rising-labor ts.
her major Japan e compani including Honda, Mat-
hita and ony have reported low r profits in th past w k,
citing th high yen and weak d mand. Toyota said Wednesday
its profit f 11 to 176.46 billion yen, or $1.69 billion, in th fiscal.
ye r end June 30 from 237 84 billion y n a year earlier.
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The av rag
first-tim hom owner
was old r in 1989
than in 19n, h d a
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Bureau.
P lvate ftrm to
manage city jail
OD A, TEXAS (AP) - A pri-
vate firm has agreed to manage
the Odessa City Jail and split
any profits from leasing empty
inmate beds. ..
Corplan of Dallas signed a
five-year contract to begin oper
ating the lOO-bed facility Oct. 1.
The agreement relieves the city
of $517,000 in annual jail oper
ating costs.
Corplan on Monday lost a bid
to build a regional jail near
Odessa when the Ector County
Commissioners Court raised
qualms about financing and li
ability.
But city officials had been ne
gotiating with Corplan since
April.
"IT'S GOING TO be a big
tune 'for Odessa with the savings
... the down side will be very
small," Councilman James
Goates said.
Typically, t e city jail houses
only about 14 inmates, leaving
about 80 percent of the beds
empty. Corplan plans to lease
about 90 slots to entities other
than the Odessa Police Depart
ment.
The firm will pay for its oper
ating expenses from the lease
revenues. Any profits would be
shared with the city.
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N YORK (AP) - General
Motors Corp. said Wednesday
it will be a key sponsor in a
four-part television seri tar
geted at young Blac Ameri
cans.
The ri w produced by
Central City Productions of
Chicago, in partnership "with
the OJ Group, headed by bas
ketball Hall of Farner Julius
Erving. The series will be
hosted by Richard Lawson,
tar of the ABC daytime se
rial, "All My Children. II
The four one-hour pro
grams in the "Roads to Sue-
0088 - series will feature the
accomplishments of Black
Americans in sports, enter
tainment, government and
business.
Part 1 will focus on sports
stars like Michael Jordan and
Hank Aaron, and will air on
ABC-affiliated stations be-
tw n Aug. 28 and Sept. 19.
They will be asked about their
early career dreams, family
life, mentors, the impact of
ucce on their live and
their future plans.
The maining egmenta
will follow in October, Febru
ary and April.
GMt SPO SORSHIP
wa announced by Philip
Guarascio, general manager
of advertising and marketing
for GM' North American op
erations.
"By portraying selected key
role models and using the me
dium of television, we're hop
ing to have a powerful impact
on today's African-American
youth," Guarascio said.
GM also sponsored the
ABC program "Separate but
Equal" and the acclaimed
PBS seri ,"Civil War. "
U.S. levies sanctions on China
WASHINGTON (AP) - The United States announced limited
economic sanctions against China and Pakistan after conclud
ing that China sold missile technology to Pakistan, violating an
international arms control agreement.
The sanctions, announced Wednesday, ban the sale ofsensi
tive high technology equipment to the Chinese entities involved
in the missile technology transfer.
The State Department said the sanctions will affect between
$400 million and $500 million a year in trade. That represents
less than 10 percent of U.S. exports to China last year.
BUSINESS SERVICES
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