Santa Cruz Sentinel from Santa Cruz, California • Page 47

D-2 Friday, Oct. 5, 1990 Santa Cruz Sentinel UAL employees closer to buyout financing employee bid, said Greg Flynn, vice president for corporate finance, in a telephone interview from New York. NMB was the first foreign bank to commit funds to the deal and the first major lending institution to line up behind the tour lead banks: Bankers Trust New York Manufacturers Hanover Security Pacific and First Chicago Corp. The Associated Press CHICAGO United Airlines employees moved closer to their proposed buyout of parent UAL Corp. Thursday after a Dutch bank agreed to join four U.S.

banks in loaning the employees' group 1380 million each. The development brought the total tentative commitments to $1.75 billion, still short of the $2 billion in bank loans the workers need for a bid of $165 to $175 a share, or fered enough loan money, in addition to the $1.75 billion already committed, to keep the deal alive. The New York Times quoted un identified sources Thursday as saying bank financing was assured, but the employee group led by United's pilots, machinists and flight attendants still reportedly lacked $1 billion in financial commitments from non bank sources. And the group has yet to face what is regarded as its biggest hur billion to 1.8 billion, according to one person familiar with the situation. About 20 other banks were to have responded by Thursday to requests to participate in the deal, which requires at least $2 billion in bank financing.

One person familiar with the transaction told The Associated Press the four lead banks would not decide until at least Friday whether the other banks had of die: persuading UAL's board to accept a lower price than the $4.4 billion, $201 per-share offer the board accepted in principle in April. That offer expires Tuesday. UAL stock soared as high as $1 1H on the New York Stock Exchange Thursday on news of the financing developments, but finished down $6.37 to $105.37. The Dutch bank NMB Postbank Groep N.V. agreed to contribute $,350 million in financing for the Disney sues 37 firms for merchandise piracy SNimCRUZ lYIGDICX CUMC QUIT SMOKING BY NOVEMBER 7TH The Santa Cruz Medical Clinic wants io help you Quit Smoking! In 8 intensive sessions, you can learn how to beat the habit.

Sessions begin on Monday, October 15th. MEETS EVERY MONDAY AND WEDNESDAY EVENINGS PM Facilitator: Jerry Pitts, RCP, CardioPulmonary Dept Manager, Dominican Santa Cruz Hospital Guest Speaker: Don Hodges, FCCP, Pulmonolgist For information and registration call Santa Cruz Medical Clinic 458-5618 Take stock' in business, leaders urge The Associated Press BOSTON Forget those dour economic forecasts for a couple days. Business lead ers are trying to put a bright face on Massachusetts by giving residents a small bar gain for buying stock in the state's companies. The effort was dubbed "Take Stock in Massachu setts Business." It opened with the start of trading Thursday on the Boston Stock Exchange, and the window will close at the end of today's session. For the two days, the stock exchange agreed to waive transaction fees for broker age firms that in turn waived commissions for residents who buy stock in companies headquartered in Massachusetts.

"It's an opportunity for the people of Massachusetts to be partners in their own economic future," said Gerald Scott, organizer of the program, who launched the session by ringing an old-fashioned school bell. Lately, the state's economic future has looked grim. Unemployment has risen sharply, as the once-power ful computer, financial and construction sectors have suffered heavy beatings. But the organizers of the stock program insisted that all is not bad in Massachusetts some companies are performing well. Larry Vale, a spokesman for Keane a Boston-based software company, pointed to his firm as an example.

Vale, who participated in Thursday's opening, said Keane's net earnings grew by 24 percent last year. "In this gloom and doom mentality, people tend to forget that below the surface there are good companies," he said. The Associated Press ORLANDO, Fla. Walt Disney Co. sued 37 companies Thursday for illegally using Disney characters on clothing and other merchandise in Florida, the company said.

The anti-piracy suit Disney's 26th since charged the de fendants wrth copyright infringe ment, false designation of origin and unfair competition. Disney accused the 37 companies representing about 50 stores of selling sweatshirts, T-shirts, hats, watches, clocks, sun catchers, dolls and other items depicting Mickey and Minnie Mouse, Donald Duck, Goofy and Pluto. Among the defendants was Gala Enterprises of Central Florida, a chain of more than 25 retail stores near Walt Disney World. Fifteen of its stores were named in the action. Company representatives were not immediately available for comment.

The other 36 defendants were retail establishments, many of them small gift shops, said Disney attorney John J. Tormey III. The federal suit seeks an injunction to prevent further sale of the merchandise plus damages of at least $50,000. Disney has been known for vigorously protecting its trademarks, at one point threatening to sue a day-care center for paintings of Disney characters on the building's walls. In the last four years, Disney has previously filed anti-piracy suits against about 1,070 defendants in 11 states and the District of Columbia.

Despite the latest lawsuit, piracy of Disney products "will crop up again," said Tormey. "When you look at the 37 named in the suit today, you're looking at the tip of the proverbial iceberg," he said. Consumers will benefit from natural gas settlement The Associated Press KANSAS CITY, Mo. Pipeline companies that allegedly profited illegally from higher natural gas prices in the early 1980s agreed Thursday to a $432 million settlement in an antitrust suit brought by utilities. Consumers should get 100 percent of the settlement after legal costs, probably in the form of credits on their bills and lower rates, according to the attorneys general of Missouri and Kansas.

The settlement also includes a guarantee of natural gas for the next 20 years at what is expected to be lower than market rates, said Attorneys General William Webster of Missouri and Bob Stephan of Kansas in announcing the settlement. Agreeing to the settlement were Amoco Production Oxy USA, Inc. and Williams Natural Gas Co. Amoco and Oxy had settled a week ago, but details of the agreement were not released because of a gag order issued by U.S. District Judge Earl O'Connor.

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