Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, September 2, 1993 TAG: 9309020072
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
NEW YORK - Late-night host David Letterman appears to be wowing Wall Street as well as his TV audience.
CBS Inc. stock climbed $19 a share, or 7.7 percent, to a new high for the year of $266 in trading Wednesday on the New York Stock Exchange.
"I know it sounds simplistic, but this may be a reaction to Letterman's success," said Ed Atorino, media analyst for tthe investment firm Dillon Read. "He may put some extra dollars in the coffers at CBS."
Letterman's heavily hyped debut Monday got a 10.9 rating, indicating about 10.3 million TV homes were tuned in, according to A.C. Nielsen Co. figures released by CBS on Tuesday. That was a 32 percent share of the viewing audience. CBS said Letterman's rating was 8.3 on Tuesday night with a 25 share. - Associated Press
Emily's departure brings back trains
Both Norfolk Southern Corp. and CSX on Wednesday returned locomotives and other equipment to resume normal service as Hurricane Emily moved out to sea.
CSX had halted service on five routes east of its north-south main line Tuesday, while NS halted some, but not all, service on its tracks in eastern Virginia and North Carolina.
"We are counting our blessings," said NS terminal superintendent Jeff Yates, who directs terminal activities in the Tidewater area.
No damages were reported at Virginia Port Authority facilities; and the Port of Hampton Roads, ordered closed by the Coast Guard, reopened Wednesday as Emily veered from land. - Wire report
American Airlines says layoffs likely
FORT WORTH, Texas - American Airlines expects to lay off up to several hundred managers and office staff this year due to the company's continued poor financial performance.
In announcing the layoffs Wednesday, spokesman Al Becker said the precise number won't be known for several weeks, when the company is further along in its budget process. However, company officials said they believed the total likely won't exceed the 665 managers laid off last year.
AMR Corp., parent of American Airlines, also is considering spinning off as many as three separate companies, each with its own publicly traded stock.
The company has not made a decision to proceed, and no action will be taken in 1993, the company said.
The new public companies could include an airline unit, including American and the American Eagle commuter airlines owned by AMR; a technology unit, mainly made up of AMR's Sabre Technology Group, which handles computer work and other high-tech services for American, other AMR units and for companies in and out of the airline industry; and an aviation services group or some other combination of AMR units, including ground handling and cabin service for other airlines. - Associated Press
by CNB