Texaco is said to set payment over sex bias

Article Abstract:

In a settlement by Texaco Inc. to pay 186 female workers $3.1 million, the company states that it is not admitting guilt. The Labor Department found that mid-level female employees were routinely paid less than male counterparts. The settlement will pay the women between $1,500 and $51,000 depending on their salaries between 1993 and 1996, length of employment and other factors.

Comment:

Company will settle affirmative action suit with $3.1 million payment

Legal issues & crime, PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Cases, Petroleum industry, Affirmative action, Texaco Inc., TX

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Radio giant cancels deal for Lin TV; Chancellor chief out; bid upset stockholders

Article Abstract:

Radio giant and outdoor-ad company Chancellor Media Corp. has cancelled its $900 million acquisition deal for Lin Television. In a restructuring of its business emphasis, CEO Jeffrey Marcus will be replaced by Thomas O. Hicks and much, if not all, of its acquisitions and mergers staff will depart. A Gulfstream jet will be sold as an additional step in cost-cutting.

Comment:

Company cancelled its plan to buy Lin TV

Acquisitions & mergers, Radio Broadcasting, Television Broadcasting, Financial management, Television broadcasting stations, Executive changes & profiles, Radio broadcasting stations, TV Stations, Planning, Officials and employees, Mergers, acquisitions and divestments, Radio broadcasting industry, Television broadcasting industry, Acquisitions and mergers, Television stations, LIN Television Corp., Chancellor Media Corp., AMFM, LNTV

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