Federated re-public

Article Abstract:

Federated Investors, the commutual fund company that converted itself into a private firm in 1982, has once again gone public, trading at the New Stock Exchange starting May 14, 1998. The public offering was made after the regulators approved of the company's application to sell minority stake amounting to around 17.56 million shares or around 20% of the firm's 86 million Class B shares. The public offering is expected to raise $333.6 million before expenses by selling shares at an initial price of $19 each. Federate said it will use the proceeds from the offering on working capital and general corporate undertakings.

Comment:

Once again goes public, trading at the New Stock Exchange starting 5/14/98

Organizational history, Mutual Fund Mgmt Companies, Portfolio Management, Mutual funds, Federated Investors Inc.

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Bettis workers leaving WE, joining Bechtel

Article Abstract:

San Francisco, CA-based Bechtel National Inc. has been awarded by the government with a $1.4-billion contract to operate West Mifflin, PA's Bettis Atomic facility until the year 2003. The contract to operate the Bettis Atomic facility was previously handled by Pittsburgh, PA-based Westinghouse Electric. The Bettis Atomic facility's employees will continue to work until the end of September 1998 under Westinghouse Electric, after which they will move on to become workers under Bechtel National upon the expiration of Westinghouse Electric's government contract.

Comment:

Loses to Bechtel Natl in its bid to win a $1.4-bil contract to operate West Mifflin, PA's Bettis Atomic facility until 2003

Contracts & orders received, New orders received, Engineering Services, Engineering for Nuclear Power Plants, Nuclear power plants, Plant engineering (Facilities), Westinghouse Electric Corp., Bechtel National Inc.

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Airliner service expansion proposed

Article Abstract:

The Allegheny County Labor Council, International Association of Machinists (IAM) Local 1976 and other local officials are proposing the upgrade of county-owned facilities at Pittsburgh International Airport. The IAM is concerned that up to 5,000 mechanical and related fleet-support jobs might be at risk if the facilities are not upgraded to accommodate new Airbus jets of US Airways. Under the airline's plans, older planes, led by McDonnell Douglas aircraft, which are serviced only in Pittsburgh, PA, will be phased out.

Comment:

PA: A group, including Intnl Association of Machinists Local 1976, proposes upgrade of facilities at Pittsburgh Intnl Airport

Facilities & equipment, Airports, Airport Operations

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