Western Digital and bankers plan to revamp debt

Article Abstract:

Western Digital Corp agrees with its banks on a plan for restructuring $206.5 million of debt. Western Digital has been negotiating with a group of 14 banks, led by Bank of America, since Feb 1991. Western Digital, which makes computer disk drive products, says it will report a $16 million restructuring charge for the 4th qtr ended Jun 30, 1991. Earnings figures are expected to be announced in the week of Aug 12. A law suit has been filed against the company, in Santa Ana, CA, alleging that Western Digital and its chairman and CEO, Roger W. Johnson, made misleading statements, violating securities laws. Shareholders who purchased the company's stock between Apr 20, 1990, and Feb 8, 1991, want unspecified damages.

Semiconductors and related devices, Computer industry, Finance, Profits, Western Digital Corp., WDC, Disk drives, Lawsuits, Reorganization, Profit, Stock, Financial Stability

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Vietnam pullout: This time, investors pack up gear, stymied by bureaucracy, lack of reforms

Article Abstract:

Because the Vietnamese government's internal reforms have not kept pace with the first wave of foreign investment in the early 1990s, analysts say, the result has been a precipitous exit for many of the "early-bird" investors who invested the most and took the biggest risks when Vietnam first began opening its economy. The government bureaucracy, tough trade barriers and ever-changing foreign exchange and tax regulations have prevented investors from realizing profits even now after several years. For the first six months of 1998, total foreign investment dropped 20% in pledged capital from a year ago, and in 1997 foreign-direct-investment pledges had dropped more than 50% from 1996.

Comment:

Many US firms which had been in the first wave of investors into Vietnam are now leaving due to bureacratic difficulties

Asset sales & divestitures, Administration of General Economic Programs, Company Planning/Goals, Vietnam, Investment Incentives to Foreign, Foreign investments, Investment incentives, Article

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