THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Wednesday, October 9, 1996 TAG: 9610090539
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 48 lines
Harmony Products Inc., a financially struggling fertilizer manufacturer in Chesapeake, said its preliminary agreement to be acquired by an Arkansas chemical company expired Tuesday and that negotiations had ended. In late August, Harmony signed a non-binding letter of intent with Cypress Chemical Co. to be acquired through an exchange of shares. Harmony, which specializes in producing organic fertilizer, said the two companies determined they could not complete a transaction consistent with the terms of their initial agreement. (Staff) McDonald's changes chief as sales remain sluggish
McDonald's Corp. on Tuesday named a new boss for its U.S. operations in a shakeup that analysts say signals dissatisfaction over sluggish sales at the nation's biggest fast-food restaurant chain, despite the introduction of its Arch Deluxe cheeseburgers. Jack Greenberg, the company's vice chairman and chief financial officer, becomes chairman of McDonald's domestic restaurants. Edward H. Rensi, McDonald's USA president and chief executive - who previously headed U.S. restaurants - now reports to Greenberg. (Associated Press) Dozens of radio deals face antitrust scrutiny
The billion-dollar deals reshaping the radio industry are being thrown into uncertainty by the Justice Department.
Prodded by advertisers and media buyers who fear ad-rate increases, antitrust enforcers are investigating many of the dozens of radio-station purchases announced in recent months.
Already they have challenged a major deal in Cincinnati and are threatening to block another in Rochester, N.Y. (Wall Street Journal) Liberty Property Trust buys five buildings
Liberty Property Trust in Richmond bought a portfolio of five industrial buildings and 49 acres in the Richmond area for $20.1 million. The buildings contain about 464,067 square feet and are completely leased. The purchase ``provides excellent market positioning and allows us to take full advantage of the region's boom in economic development,'' said Alan T. Lingerfelt, a Richmond-based senior vice president for the trust. The properties were owned by Richmond Business Centre Associates L.P., Oakley's Center Associates and Innsbrook Technology Associates L.P. Morton G. Thalhimer Inc.-ONCOR Intl. sold the properties. Liberty, a real estate investment trust based in Malvern, Pa., also plans to build next year on some of its newly acquired land. (AP) by CNB