Powell, NatWest settle power-project dispute

Article Abstract:

Powell Industries Inc. announced that it has reached an agreement to make a payment of $8 million to National Westminster Bank PLC (NatWest) as part of the settlement of a power project case. Powell is a manufacturer and designer of electrical energy equipment. The company said that it would pay $7 million once an agreement with NatWest is concluded on Spetember 10, 1998. The leftover $1 million will be paid by December 31, 1998, and with 3% yearly interest.

Comment:

Powell to make a payment of $8 million to NatWest as part of the settlement of a power project case

Commercial Banks, Commercial Banking, Hong Kong, Electric Power Equipment, Power, Distribution, and Specialty Transformer Manufacturing, Electric equipment, National Westminster Bank PLC (London, England), Article, Powell Industries Inc.

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Battle Over Rural U.S. Tests Bush Land Policy

Article Abstract:

The U.S. Forest Service wanted to permanently close the South Canyon Road in Nevada after it was washed out by a flood in 1995. Officials of Elko County objected and wanted it rebuilt claiming it belonged to the county even if it lay in the middle of the Humboldt-Toyabe National Forest.

Highway and Street Construction, Local Roads Construction, Road construction industry, Road construction, Nevada, Forest reserves

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Rite Aid reaches pact to settle suits

Article Abstract:

Rite Aid Corp. has reached an agreement to pay $45 million (52.2 million euros) to settle class-action suits that have been filed against it. The suits are linked to Rite Aid's admission that it overstating profits for two years by as much as $1 billion.

Drug stores and proprietary stores, Pharmacies and Drug Stores, Drug Stores, Discipline, Profit, Profits, Drugstores, Rite Aid Corp., RAD

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