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About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (April 13, 1995)
By The Associated Press Edited by Jennifer Mlratsky News Qgest Thursday, April 13, 1993 Page 2 Nebraskan FAX NUMBER 472-1761 The Daily NebraskanfUSPS 144-080) is published by the UNL Publications Board, Ne braska Union 34, 1400 H St., Lincoln, NE 68588-0448, Monday through Friday during the academic year; weekly during summer sessions. Readers are encouraged to submit story ideas and comments to the Daily Nebraskan by phoning 472-1763 between 9 a.m. and 5 p.m. Monday through Friday. The public also has access to the Publications Board. For information, contact Tim Hedegaard, 436-9258 Subscription price is $50 for one year. Postmaster: Send address changes to the Daily Nebraskan, Nebraska Union 34,1400 R St.,Lincoln, NE 68588-0448. Second-class postage paid at Lincoln, NE. ALL MATERIAL COPYRIGHT 1995 DAILY NEBRASKAN Spring Sand Volleyball Leagues Now Forming Register now for competitive, semi-competitive, intermediate and beginner sand volleyball leagues at the Bambu Beach on State Fair Park. Registration will be closing soon. Call 438-3077 for league days and times. Bambu Beach Sand Volleyball Club Suzumejo Shorei-Kan Traditional Okinawan Karatedo T’ai Chi Ch'uan Try a FREE class. Mental Improvement Concentration Stress Reduction Self Confidence Self Discipline Physical Improvement Flexibility , Strength Coordination Aerobic Conditioning Non-Competitive Coed, Women's and Kids' Classes Shorei-Kan is not for everyone - find out if it's right for you! Special Summer Introductory Programs 2711 O Street Student Discount On the southwest comer. 438-4341 Chrysler says no takeover DETROIT — In a move that stunned the business world, billion aire Kirk Kerkorian and former Chrysler chairman Lee Iacocca made a $22.8 billion bid to buy the nation’s No. 3 automaker. Hours later, the company said it wasn’t for sale. “We don’t want to put Chrysler at risk,” Chairman Robert J. Eaton said in a statement after the directors met to consider an unsolicited proposal of $55 a share from Iacocca and Kerkorian, the company’s largest shareholder. “We’ve worked hard to build this company’s financial strength, to in crease shareholder value and to build the confidence of customers. We have no desire to reverse the process.” The stock offer—40 percent above Chrysler’s Tuesday closing stock price — is the biggest and most dar ing takeover gambit to come along since the 1980s heyday of hostile corporate raiding. The company finished 1994 with a record $3.7 billion profit and a cash surplus of $7.5 billion. Chrysler’s managers say they need to weather the industry’s next downturn without gutting their product development programs. Kerkorian contends that cushion is too big and the company’s stock is priced too low. He pushed Chrysler’s board in December to increase the stock dividend and buy back shares to push up the price. The proposal sent Chrysler shares shooting up in heavy New York Stock Exchange trading, though they ended only $9.50 higher at $48.75, well below the takeover price. Source: Hoover's Handbook, Standard & Poor’s AP/C. Sanderson HISTORY: O Founded 1925 by Walter Chrysler, former VP of General Motors Corp. O Approached bankruptcy after Josses of more than $1 billion in 1979 and 1980, Hired former Ford president lacocca to help save the company, O Company negotiated concessions from workers and $1,2 billion in government-backed loans, turned a profit in 1982. 0 Manufactured 2.76 million cars and trucks in 1994, Sold 14.7 percent of the cars and trucks in North America that yean BUSINESSES: 0 Brands include the Chrysler Concorde, LeBaron, New Yorker and Town & Country; Dodge intrepid, Caravan minivan. Ram trucks; Eagle Vision and Talon; Jeep Cherokee and Wrangler; Plymouth Neon and Voyager, 0 Also owns Thrifty, Dollar, Snappy and General car rentai companies. Chrysler Financial Corp, provides vehicle and other financing services. 0 Chaired by Robert J. Eaton, former head of GM’s European operations, who was hired in 1992 to replace the retiring lacocca. 0 Has about 5,000dealers and 121,000 workers, 0 Earned a profit of $3.71 billion in 1994, up 54 percent from 1993, on $62,22 billion in revenues. MANAGEMENT: That reflected plenty of skepti cism about whether such an auda cious attempt could succeed and what the prospective buyers plan for the company. About $50 million would come from Iacocca, who retired as chair man in 1992 after becoming a corpo rate icon by bringing Chrysler back from bankruptcy’s brink. Other in vestors, still to be recruited, would add $3 billion more. An additional $5.5 billion would come from Chrysler’s cash surplus and the rest from bank loans and bonds, said Alex Yemenidjian, an executive at Kerkorian’s Tracinda Corp. in Las Vegas. “It kind of sends goose bumps up your back,” Houston Chrysler dealer Alan Helfman said. “Especially if you get Lee Iacocca back, doing com mercials. ... It’s kind of like George Foreman coming back.” WOMEN WANTED The United States Marine Corps is looking for college Junior and Senior Women who expect to graduate between December 1995 and December 1996 to train for and become Marine Officers upon graduation from college. This Program is called the Platoon Leaders Class (PLC), and it guarantees: - Starting Salary in excess of $25,000! - No interruption of your academic career. All training takes place during one 10 week summer session at Officer's Candidate School in Quantico, VA. - No special classes, uniform requirements, or drills during the school year. - Approximately $2,700 pay for the 10 week summer training period. - Financial Assistance during the schnnl ypar - Freedom to disenroll, WITHOUT OBLIGATION, after completing the summer training session up until you are commissioned. - A challenging career in a wide range of specialties that will put you well on your way to your professional goals. For more information about the PLC program call the Marine Corps Officer Selection Office at: 1-800-524-2129 Marines The Few.TheProod.Tbe Marines. Lab charged with homicide in women’s cancer deaths MILWAUKEE—A laboratory was charged with reckless homicide Wednesday for alleg edly misreading Pap smears that could have saved the lives of two women. A technician and a doctor escaped immedi ate charges under a deal with prosecutors. District Attorney E. Michael McCann brought the charges against Chem-Bio Corp. of suburban Oak Creek in the case of Dolores Geary and Karin Smith. The company could face a maximum $20,000 fine if convicted on the two counts of reckless homicide. The women died of cervical cancer after the laboratory missed what experts said were un mistakable signs of cancer on their gyneco logical exams. When detected early, cervical cancer can easily be cured. Over the weekend, the inquest jury had recommended reckless homicide charges against the laboratory as well as a technician and the doctor who oversaw the lab. McCann said the technician and the doctor who supervised the lab each signed an agree ment with his office. The agreement defers prosecution for six years as long as they follow certain guidelines. If they abide by the agree ment, no charges will be filed. Under the deal, Dr. Robert Lipo is barred from acting as medical director of any labora tory and from supervising technicians doing General to pay mil BOSTON — A Guatemalan general run ning for president of his country was ordered by a U.S. judge Wednesday to pay $47.5 million to eight Guatemalans and an American nun who were victims of atrocities committed by his soldiers in the 1980s. U.S. District Judge Douglas Woodlock held Gen. Hector Alejandro Gramajo responsible for the torture and murder of thousands of civilians in the Central American nation while he was vice chief of staff and director of the army general staff in the early 1980s and defense minister from 1987 to 1990. Gramajo was found liable by default, mean ing the judge ruled against him because he did not contest the lawsuit. “Gramajo refused to act to prevent such atrocities,” the judge ruled. “Indeed, the evi tissue testing. June Fricano, the technician who handled both women’s tests, agreed to work on salary or on an hourly basis instead of being paid by the number of samples analyzed. McCann said she examined20,000 to40,000 Pap smears a year, compared with the maxi mum of 12,000 recommended under profes sional standards. Fricano also agreed not to work more than 42 hours and to abide by a number of other professional standards. Criminal charges for a medical error are extraordinarily rare. Martin E. Kohler, a lawyer for the labora tory, saidthe company would fight any charges. The lab is still in business but no longer does Pap smears. “We believe it was an act of negligence and not criminal recklessness,” Kohler said. Years after the Pap smears were allegedly misread, the women were diagnosed as having advanced cervical cancer. Smith, 29, a Nashotah accountant, died March 8. Geary, 40, a mother of three from suburban Oak Creek, died in 1993. Both victims received multimillion-dollar settlements from the lab and the women’s HMO, Family Health Plan. lions for atrocities dence suggests that Gramajo devised and di rected the implementation of an indiscrimi nate campaign of terror against civilians such as plaintiffs and their relatives.” Human-rights lawyers acknowledged it will be extremely difficult for the victims to collect from the general. Gramajo, who is seeking the nomination of his rightist party in Guatemala’s presidential election sometime later this year, denied any role in the alleged crimes. Gramajo supported civilian government by helping quash two coups in 1988-89, yet he directed military operations in the western highlands during one of the most violent peri ods in this country’s 31-year-old civil war.
