Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, February 2, 1993 TAG: 9302020344
SECTION: BUSINESS PAGE: A3 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Clinton threatens European boycottWASHINGTON - The Clinton administration took a tough bargaining stance in its first major trade dispute by announcing Monday that the federal government next month would stop buying a wide range of products made in Europe.
The announcement immediately was branded "unilateral bullying" by one European official who urged negotiations to avert a trade war between the United States and Europe.
The United States is demanding that Europe abandon rules that favor European manufacturers at the expense of foreign companies in sales to government-run utilities. U.S. companies such as General Electric and the American Telephone & Telegraph Co. have complained that the European rules cost them sales.
U.S. Trade Representative Mickey Kantor said the administration would stop buying European telecommunications, water, energy and transportation products unless there is a settlement by March 22. - Associated Press
\ Airlines ask Clinton to halt USAir deal
WASHINGTON - The three biggest U.S. airlines formally asked the Clinton administration Monday to block a $300 million British Airways investment in financially strapped USAir.
American, Delta and United airlines told the Department of Transportation that the proposed deal is a repackaged version of a $750 million plan that was withdrawn in December in the face of Bush administration opposition. Transportation Department spokesman Bill Mosley said their request is being studied.
"The investment of $300 million in USAir is substantial and . . . will give British Airways significant influence over the direction of USAir policy," the three airlines said. - Associated Press
\ Clinton announces export-import pick
WASHINGTON - President Clinton on Monday announced his selection of New York investment banker Kenneth D. Brody to be chairman of the Export-Import Bank, a government agency that makes loans and other forms of assistance to U.S. exporters to help them sell their products and services overseas.
Brody is a limited partner in the investment banking firm of Goldman, Sachs & Co. - Associated Press
\ American Express goes outside for chief
NEW YORK - American Express Co. on Monday named a 21-year board veteran as chairman to succeed James D. Robinson III, who quit under pressure after a week of tumult.
In appointing Richard M. Furlaud, 69, former president of Bristol-Myers Squibb Co., American Express becomes the latest corporate titan to turn to outside management for someone to oversee troubled operations.
Robinson quit amid opposition from employees, shareholders and some directors that snowballed after he lobbied a loyal board to stay on despite its request last fall that he help find a successor.
American Express said the appointment was permanent, but Furlaud was viewed widely as a transition figure. - Associated Press