Dataproducts plans significant overhaul

Article Abstract:

Dataproducts Corp announces restructuring plans in the wake of several takeover bids. The plan calls for the divestment of Dataproducts New England and the corporate headquarters, moving domestic printer manufacturing overseas, laying off 400 workers, offering a special dividend of $3 a share and taking a $45 million write-off. Crescott Inc, which has made three separate offers for all or part of Dataproducts, still hopes to buy the Dataproducts New England subsidiary. Dataproducts has rejected all acquisition bids as inadequate. Crescott CEO Munawar Hidayatallah feels Dataproduct's restructuring is a desperate attempt and points to the company stock's 18.4 percent decline, the worst of the day on the American Stock Exchange, as evidence of the market's loss of faith in Dataproducts management.

Investors, not elsewhere classified, Planning, Mergers, acquisitions and divestments, Financial services industry, Financial services, Business planning, Divestiture, Divestment, Reorganization, Acquisition, Dataproducts Corp., DPC, Crescott Inc., Dataproducts New England Inc., CRCT

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Hughes sued on computer chips

Article Abstract:

Michael C. Denlinger, a former engineer with Hughes Aircraft Co, claims that Hughes sold $3.2 billion in potentially flawed computer chips to the Navy. Denlinger filed suit in federal district court, seeking $9.6 billion in damages. The suit falls under the False Claims Act, otherwise known as the 'whistleblower' act, so Denlinger could be awarded a percentage of any damages the government collects. The chips, which were highly susceptible to failure, were used in a torpedo that twice failed testing and a radar system on the USS Vincennes, which accidentally shot down an Iranian airliner in 1988. Denlinger charges that Hughes covered up the chips' potential for defects because correction of the faulty components would have reduced profits of the military equipment contractor.

Aircraft, National security, Semiconductor industry, Cases, Integrated circuits, Investigations, United States. Navy, Hughes Aircraft Co., Defense Contract, Defects, Denlinger, Michael C.

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A key officer is picked for Western Digital

Article Abstract:

Kathryn A. Braun is promoted to executive VP in charge of business operations at Western Digital Corp. Braun, one of the highest-ranking female executives in any US company, is now second in command and is heir apparent to the president's post, currently held by Roger W. Johnson. Braun has been with Western Digital since 1978. Western Digital earned $24.2 million in 1989, on sales of $1.07 billion. The Irvine, CA-based company makes disk drives and graphics controllers.

Officials and employees, Women, Appointments, resignations and dismissals, Western Digital Corp., WDC, Executive, Peripherals, Promotion of Employee, Braun, Kathryn A.

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