THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, February 1, 1996 TAG: 9602010364
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: Short : 40 lines
Healthcare America files Chapter 11
Healthcare America Inc. filed a Chapter 11 bankruptcy petition that includes a prearranged reorganization plan supported by all of the company's senior lenders. The company said the voluntary petition was filed in U.S. Bankruptcy Court. As part of the reorganization, the company has agreed to forward part of the proceeds from any facility sales to Healthcare America's approximately 1,300 shareholders. Shareholders could receive a total of up to $2.5 million. Healthcare America operates 10 psychiatric health care systems, two rehabilitation hospitals and two acute-care hospitals. (Dow Jones News)
Media General reports net income up 50%
Media General reported that fourth quarter 1995 net income rose by more than 50 percent to $18.5 million from fourth quarter 1994 net income of $12.1 million. Fourth quarter 1995 revenues were $200.7 million, an increase of 20 percent from fourth quarter 1994 revenues of $167.1 million. Media General is a diversified communications company situated primarily in the Southeast, with major interests in newspapers, broadcast and cable television, recycled newsprint production, commercial printing, publications and electronic financial publishing products. (Staff)
Ford Motor profits drop 72 percent
Ford Motor Co.'s profit from operations plunged 72 percent in the fourth quarter from year-ago net income as the company spent heavily to launch a new pickup truck while it cut prices to sell cars in a sluggish market. The automaker's profit from operations fell to $440 million, or 32 cents a share, compared with net income of $1.57 billion, or $1.47 a share, in the fourth quarter of 1994. (Bloomberg Business News) by CNB