Computer lessor deal with Geneen group

Article Abstract:

Continental Information Systems Corp agrees to sell all its assets to an investor group led by Harold S. Geneen, former chairman of ITT. The deal must be approved by the Federal Bankruptcy Court for the Southern District of New York because Continental is currently operating under Chapter 11 protection. Geneen agrees to pay $75 million in cash and $345 million in unsecured promissory notes for Continental's assets, but even this amount is not expected to satisfy the demands of Continental's creditors. Unsecured creditors claims are estimated at more than $400 million. Continental's financial problems came about because of tax revision laws that eliminated the company's lucrative reselling business and because of the Oct 1987 stock market crash.

Computer rental & leasing, Mergers, acquisitions and divestments, Computer services industry, Information technology services industry, Investments, Bankruptcy, Acquisition, Capital Asset, Financial Stability, Geneen, Harold S., Continental Information Systems Corp., CNY

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Enough About 'Gates' as Art; Let's Talk About That Price Tag

Article Abstract:

It is difficult to account for how Christo and Jeanne-Claude arrived at the estimation of the cost of their New York City installation project "The Gates," as it involves many different components and many years of work.

New York, New York, New York, Works, Installations (Art), Christo, The Gates (Artwork), Claude, Jeanne

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An Encore Effort to Bring Shakespeare Back to Stratford

Article Abstract:

Connecticut's Stratford Festival Theater is hoping for an infusion of capital from the state in order to save it's building, which has been boarded up for years awaiting renovation.

Connecticut, Remodeling and renovation, Theaters

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